Invest Ottawa is launching a new accelerator program in the city with the help of Waterloo’s Accelerator Centre.
Dubbed the IO Accelerator, Invest Ottawa and the Waterloo AC have established a milestone-based acceleration program. While the program will not invest in startups or take equity in startups, the program will cover several aspects of building a business, including product development and design; sales and marketing; accounting and finance; human resources and culture; public relations and communications; and legal frameworks (including IP).
After receiving over 100 applications, Invest Ottawa introduced the first 44 technology firms selected today during an event at Bayview Yards. These companies will participate for 12 to 24 months in the program. During the event, Invest Ottawa also released its first Gender Diversity and Inclusion Guideline, and highlighted the eight women-led firms in this new program.
“Our team has worked closely with Invest Ottawa for the last two years on business development, customer and investment acquisition,” said Alida Burke, co-founder and COO of The Growcer, one of the first companies accepted into the program. “We are excited to build on the business results we have achieved to date in North America and leverage The IO Accelerator program to develop and implement new global strategies in target markets such as Europe. The opportunity to leverage the expertise of top mentors and Invest Ottawa teams, is invaluable for us as we scale and strive to establish the next $100 million company in Ottawa.”
In early June, Invest Ottawa launched an acceleration program to support entrepreneurs launching companies.