Wavefront, has received funding of up to $9.5M over the next five years through the Canada Accelerator and Incubator Programme (CAIP). The funding, announced at an event in Vancouver, will enable Wavefront to expand the reach and capacity of its programms for small and medium enterprises (SMEs) in the mobile and Internet of Things sectors.
“Working with partners across the country, Wavefront is poised to help more entrepreneurs accelerate the growth of their mobile and Internet of Things businesses,” explains Wavefront president and CEO James Maynard, “By helping startups develop their product and find their markets, we can support the creation of more jobs and viable businesses that can compete here in Canada and in international markets, too.”
The CAIP funding will support the expansion of several successful Wavefront programms including:
- Venture Acceleration Programme (VAP). Already in operation across British Columbia, the VAP provides startups with training and hands-on support from an experienced Executive in Residence. Working with delivery partners Accelerate Okanagan (Kelowna), Accelerate Tectoria (Victoria), Centennial College (Toronto), Invest Ottawa and Volta (Halifax), Wavefront will expand the reach of this proven successful programme.
- Venture Expansion Programme. Companies that move beyond the Venture Acceleration Programme require help to grow their markets and procure investment. Wavefront is developing a follow-up programme that will help startups overcome these important challenges.
- International Market Entry. Wavefront has facilitated introductions for numerous mobile and Internet of Things entrepreneurs with international markets. By expanding these efforts, Wavefront will ensure more Canadian mobile and Internet of Things companies are able to connect with business opportunities beyond our borders.
- Wireless Zones. Wavefront’s Device Rental Libraries offer mobile developers access to a wide range of devices, allowing them to test applications across multiple platforms and networks. Wavefront will establish more Wireless Zones across the country, increasing access to this important resource.
- Industry events. Wavefront organises and takes part in a number of important events for the mobile and Internet of things sectors, including the annual Wavefront Summits, hackathons and networking meetings. These events will be enhanced and expanded to more communities across the country.
“The CAIP funding allows us to grow successful programms that are already delivering results,” says Brad Lowe, Wavefront vice president, national accelerator operations. “It gives us the opportunity to build on the momentum we have generated over the past four years and help Canadian mobile and Internet of Things companies grow and succeed.”
Wavefront’s
programms are supported by several key partners. The BC Innovation Council (BCIC), a provincial Crown Agency, is providing funding for expansion of the Venture Acceleration Programme.
“We congratulate Wavefront for winning this new round of funding, which will support and continue the work of the BC Venture Acceleration Programme,” said minister of technology, innovation and citizens’ service Andrew Wilkinson. “Our technology start-ups will benefit from this initiative right away, assisting in their success.”
Rogers Communications is continuing its support of Wavefront events, facilities and wireless zones.
“Since we started working with Wavefront in January 2012, we have seen massive growth potential in Canada’s M2M space and we want the industry to continue to innovate and grow,” said Gord Nelson, VP sales, BC, Alberta & Prairies, Rogers. “Our collaborative partnership with Wavefront is aimed at strengthening the technology and M2M startup community in Vancouver and across the country, and we’re thrilled to continue this partnership over the next five years. Our funding commitment of $4M will give talented entrepreneurs access to new programms and business mentorship to help set them up for commercialisation and long-term success.”
Sierra Wireless is also continuing its ongoing support of Wavefront initiatives.
