The Waterloo Accelerator Centre is this week celebrating the launch of graduating 30 technology startups from its JumpStart program, a six-month mentorship and business acceleration program aimed at assisting engineers and scientists commercialize new products and develop new businesses.
Attendees at a launch ceremony held earlier this week heard the pitches from seven JumpStart companies, including Milao Language, an educational technology startup; Kite, a productivity tool; Deep Trekker, a creator of video submarines; iNotForProfit, a provider of mobile application solutions; Wriber, a blogging tool; TrendyMED, a medical device company; and Plasticity, a startup combining neuroscience and technology to make people happier at work.
Since the JumpStart program kicked off in January 2013, 30 technology startups have each received $5,000 in mentorship from the Accelerator Centre’s team of in-house advisors, along with $25,000 in matching seed financing. As a direct result of the JumpStart program, the accelerator says that participating startups have created 180 new jobs in the Waterloo Region, generated $3.2 million in combined revenue, and are expected to raise approximately $5 million in private investment this year.
“For early-stage companies seeking to bring their technologies to market, access to funding and mentorship at this formative stage is often a significant hurdle,” says Tim Ellis, CEO of the Waterloo Accelerator Centre. “Our JumpStart program solves both of these challenges, providing essential seed funding and access to experts who can provide the critical guidance and mentorship geared to helping these young companies realize their business goals.”
The Accelerator Centre’s JumpStart program was recently honoured with a 2014 Business Excellence Award for Innovation by the Greater Kitchener Waterloo Chamber of Commerce.