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May 9, 2024 — Waterloo, ON— Accelerator Centre (AC) is pleased to announce the 25 companies progressing to Phase 3 of AC:Studio. The innovative, three-phase entrepreneurial support program was launched in June of 2022 with $10M in support from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), and aims to provide 100 high-potential, early-stage companies with up to $100,000 in seed funding by March of 2025—creating 1,000 new jobs along the way.
In Phase 1, the AC selected 100 high-potential startups – including 3 from Windsor-Essex – and supported them with initial non-repayable seed funding of $20,000 and access to the AC’s award-winning mentorship programming. In May of 2023, the best of the cohort were selected to progress into Phase 2 of the programming – including Windsor-Essex-based WonderWell Toy Co. – and receive an additional $30,000 in seed funding.
To date, the program has made a significant impact, creating 620 new jobs in southern Ontario. Collectively, the companies have also raised $40M in additional investment and generated $21M in combined revenue.
Today, the AC is pleased to announce the 25 companies selected for the final phase of AC:Studio:
“Congratulations to the top 25 companies selected for the final phase of AC:Studio. These companies represent the best of the innovative technology and high-potential startups that southern Ontario is known for producing. By combining our award-winning mentorship program with the venture studio model, we’ve been able to help these companies go from startup to scaleup in record time. AC:Studio provides our startups with the additional supports needed to ensure these companies are successful once the program concludes.”
– Ruth Casselman, Interim CEO, Accelerator Centre
“Congratulations to the 25 companies entering the third and final phase of the Accelerator Centre’s AC:Studio program. The Accelerator Centre is providing Canadian entrepreneurs with the access to the support and services they need to grow and thrive. We are happy to support this program that will enhance Canada’s technology sector and create good jobs for Canadians.” – The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Waterloo is filled with high-potential technology entrepreneurs, and phase three of the Accelerator Centre’s AC:Studio program will continue to support the development of a healthy pipeline of high-potential start-up companies. This investment proves that our government values programs that help Canadian businesses grow.” – The Honourable Bardish Chagger, Member of Parliament for the Riding of Waterloo
About the Accelerator Centre
At the AC, we exist to help ambitious dreamers impact global change through their businesses. The AC is ranked among the World’s Top 5 private business accelerators by UBI Global. We offer an extensive selection of customizable opportunities for startups across Canada—allowing founders to rapidly bring their innovation to life. We work with our global partners to bolster the innovation ecosystem in Waterloo and beyond.
About FedDev Ontario
For 14 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our pivotal projects, our Southern Ontario Spotlight, and FedDev Ontario’s Twitter, Facebook, Instagram and LinkedIn.
Tabatha Laverty
Vice-President, Marketing and External Relations
Accelerator Centre
[email protected]
Edward Hutchinson
Press Secretary
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
[email protected]
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