Year One Labs makes first investment

Posted by Rob Lewis

Montreal's Year One Labs announced earlier today that they have made their first investment in a startup called Endloop X. Based in Montreal, Endloop X is a location-based social gaming platform.

The new venture was spun out of Ken and Garry Seto's growing mobile development company, Endloop Studios, which they founded in Toronto in 2008.

Year One Labs is a startup accelerator that was founded by Raymond Luk, Ben Yoskovitz, Ian Rae, and Alistair Croll in September of this year.

Year One Labs is taking a hand-on approach to advising, focused on co-creating startups with entrepreneurs in the program. The program itself is dedicated to the “Lean Startup methodology,” which centralizes around the customer development process, validating the idea and market strategy before product development.

Besides advising and mentoring, accepted startups will receive $50K, issued in tranches based on milestones in the development. Startups will also be able to rent space in Year One Labs for free. In exchange for this, Year One Labs takes a minority stake in startups, typically between 10 percent and 20 percent of equity.

Year One Labs mentors include Flowtown co-founder Dan Martell and Shopify creator Tobias Lutke.

Company:
Endloop Mobile
Website:
http://www.endloop.ca
Location:
Toronto, Ontario, Canada

At Endloop, we're a team of experienced developers and designers committed to creating top notch iPhone applications and games. Our focus is on the user experience first and foremost. We always strive to make our apps as fun, elegant, intuitive and easy to use as possible. more

Company:
Year One Labs
Website:
http://www.yearonelabs.com
Location:
Montréal, Québec, Canada

We provide funding, hands-on operational help, guidance and a strategic curriculum to help initiate, co-create and accelerate startups. Technology is moving faster than ever. As the cost of launching new ventures drops, more and more startups throw themselves out there, only to find that there’s a lot of work “post-launch.” Today, startups don’t fail because of technical challenges; rather, they fail because of... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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