In 2007, the city hosted 443 technology companies and 66 startups who generated a combined $9 billion. Just five years later, in 2012, a whopping 862 tech firms and 450 startups are generating a staggering $30 billion.
The Waterloo tech hub continues to thrive thanks to organizations like Communitech. And today Communitech's Hyperdrive program added to the growing number of startups with the announcement of their second cohort of 11 companies.
The following 11 companies make up the second Hyperdrive cohort:
- WellRead - a news gathering service that learns what is most important to the user and makes it simple to keep up with what matters to them, cutting out the need to search multiple sources.
- The Dandy Co. - a community driven app developer which involves the community from initial pitch to completed product. Profits are divided amongst the community based on each user's level of contribution.
- The Open Doors Network - a developer of web applications for homeowners so they can better maintain their investment. Emails are sent to users to remind them when different maintenance issues should be addressed and provides solutions.
- CreamHR - an accurate top-of-the-filter employment assessment service. CreamHR provides businesses with a way to quickly and accurately hire the right person for the job, eliminating inaccurate recruiting.
- PumpUp - a personalized fitness coach that gives individuals the guidance and motivation they need when it comes to working out. Answering a few simple questions provides the user with a personalized routine that shows them exactly what to do, how to do it, and adapts their routine to help them reach their goals.
- GroupNotes - a collaborative tool that can be used to easily share, annotate, and comment on websites. It allows its users to form a digital group online, enabling its members to leave virtual sticky notes and annotations on webpages so that as other members browse those sites they see the notes others left behind.
- BeanEvo - a web-based application offering an easy-to-use, cost-effective and customizable online accounts payable automation solution tailored to the size of any business.
- ViewsIQ - a medical technology company that makes microscope imaging solutions. ViewsIQ has created a way to digitize lab samples so that anyone with a standard microscope can create and send an image of the sample to a pathologist anywhere in the world for diagnosis.
- ESL Explorer - an online marketplace, catalogue of schools, niche social network and a ratings and review site for English language schools. The website makes it simple for students to pick the right courses in the right location for them.
- Inception Mobile - a "friction free" multi-platform mobile application development tool. It allows developers to simultaneously target multiple mobile platforms without having to rewrite a single line of code.
- Oikoi - a matchmaking platform for tenants, landlords and property managers. Rather than a general purpose marketplace approach employed by Kijiji and Craigslist, Oikoi specializes in quickly connecting tenants to highly relevant apartments, and providing pre-qualified leads to landlords.