QRA, a Halifax startup that helps manufacturers detect design problems, has become the first Canadian company accepted into the headquarters of Disruption Corp., a support facility based in Washington, D.C.
Disruption, founded eight months ago by globetrotting startup backer Paul Singh, announced Monday night it has struck an agreement with Innovacorp to “set up shop” in the Disruption headquarters and help recruit Canadian tenants. QRA, which will still be based in Halifax, will be the first of these tenants.
“Disruption is not investing in us, but their deal with Innovacorp will have us treated essentially as one of their portfolio companies while we are down here,” said CEO Jordan Kyriakidis in an email Monday night.
QRA (which stands for Quantum Research Analytics) grew out of a research project at Dalhousie University commissioned by Lockheed-Martin, the world’s largest defense contractor, which is based in the Washington suburb of Bethesda, Md. Kyriakidis headed the project, which aimed to identify design flaws in complicated machines in the early stages of development – before the company had spent a lot of money building out the product.
QRA’s tools can analyze and validate how system components are put together and work together. It can detect any faults before the machine is actually built. These tools are based on rigorous mathematical approaches and can detect errors that conventional testing cannot, said Kyriakidis.
The announcement is obviously great news for QRA because it will position the company in one of the fastest-growing startup and investment communities in the U.S. What’s more, the District of Columbia is home to a massive aerospace industry, including companies like Lockheed-Martin, which would be perfect customers for QRA.
But the announcement also signals a leadership role that Innovacorp is assuming in corralling Canadian companies into the Disruption facility. The agency is acting as a conduit for startups from across Canada, not just Nova Scotia, that hope to access the Disruption facility. It will help in Innovacorp’s mission to increase its international network, with the end goal of heightening the exposure of Nova Scotian startups to international investors and customers. (Innovacorp sponsors and advertises in Entrevestor.)
Singh developed an international reputation as an authority on tech development when he was a partner in the early stage venture capital firm 500 Startups. He traveled around the world looking for early stage investments, and visited Atlantic Canada several times, including stops at MentorCamp and the Atlantic Venture Forum.
Earlier this year, he formed Disruption Corp., which manages Crystal Tech Fund, to provide education, access and insight to maturing startups. On Monday, the group announced it would double the square footage of its headquarters and expand its partnerships. As well as Innovacorp, the Disruption headquarters will welcome the Iron Yard, a coding academy that already has outposts in Charleston, Atlanta, Austin, and other locations in the Southeast.
“The original vision was to build a magnet for the best tech companies and the resources and investors who can help them grow,” said Singh in a statement. “What we have is a place and people that are curated, aspirational and inspirational.”
QRA has been working on closing a $4 million funding round, and Kyriakidis said Monday that the deal hasn’t quite closed yet.
Disclaimer: Entrevestor receives financial support from government agencies that support startup companies in Atlantic Canada. The sponsoring agencies play no role in determining which companies and individuals are featured in this column, nor do they review columns before they are published.