The Accelerator Centre (AC) today announced a major expansion of its facilities and services to better serve early stage companies and entrepreneurs within Waterloo Region.
Reactor, the new 8,000 square foot facility located in the Innotech Building in the David Johnston Research + Technology Park, represents a significant expansion in both space and capacity for the organization. Dedicated to early-stage clients in the AC Momentum program, Reactor nearly doubles the number of companies that the AC will house, allowing it to help even more technology startups with its world-recognized mentorship and programming.
“AC Momentum was launched in the fall of 2014 to address the growing number of early-stage companies that were coming to us, but weren’t ready to enter our flagship Accelerator Program,” explains CEO Paul Salvini. “We could see the tremendous potential of these companies and, rather than turn them away, we created AC Momentum and developed a one-year curriculum that is tailored to the needs of early-stage companies; validating their idea and preparing them to enter the Accelerator Program and start scaling their business.”
"There are limited resources for an early-stage company and as an entrepreneur, it can be challenging to play every role, from product development to marketing, by yourselves,” says Peter Whitby, CEO of O2 Canada. “But through AC Momentum we have a place to develop our technology and access to expertise in those key areas that allow us to make the best decisions as we build our business from the ground up.”
Leveraging research from the University of Waterloo's Air Pollution Research and Innovation Lab, Whitby and his Co-founders, Brandon Leonard and Rich Szasz, are working in Reactor to develop the world's first connected respirator, with a replaceable smart filter and accompanying application for monitoring and tracking.
The AC Momentum program was initially housed in a 1700 sq. foot space within the AC’s existing building. However, the space filled quickly and demand continued to rise. Working in partnership with Cora Developments, the AC was able to carve out a new home for the program that is more than four times larger than the original space, while offering start-ups an open concept space built around the theme of creative interaction. Reactor will house approximately 30 companies.
“The Reactor expansion would not have been possible without the support of Cora Developments, the City of Waterloo, the Canada Accelerator Incubator Program, the Campus-Linked Accelerator Program, and The Cowan Foundation, whose generous contributions have allowed the AC to expand support for early-stage innovation,” notes Salvini.
About the Accelerator Centre
The Accelerator Centre® (AC) is dedicated to building and commercializing technology start-ups. The AC provides an essential combination of mentorship, educational programming, professional office space, networking, and access to funding, with a goal of building successful companies. Over a two- to three-year period, we help entrepreneurs move from start-up to scale-up, accelerate their time to market, and attract customers, investment and revenue.
Since 2006, the Accelerator Centre has developed and nurtured over 180 early-stage technology start-ups that have create 1300+ new jobs, and generated more than $500 million in revenue and funding. 48 companies have graduated from the Accelerator Centre, and more than 85 percent of these companies have remained in Waterloo Region. For more information visit www.acceleratorcentre.com. For more information about O2 Canada, visit www. o2canada.com