A year after exiting his security company , Ron Lovett is giving back to the Atlantic Canadian entrepreneurial community.

Lovett, who sold Source Security and Investigations in late 2016, has founded an accelerator for entrepreneurs under the auspices of the Atlantic Canadian chapter of the Atlantic Canadian Chapter of the Entrepreneurs' Organization. 

The EO is a global network of 12,000 entrepreneurs in 53 countries who aim to help one another through peer-to-peer mentorship. Its Atlantic Canadian chapter has been going since 2010 and it now has 49 members that employ about 1700 people. Now, thanks to Lovett, it has an accelerator to help companies increase revenues. 

“I jumped around on the board of EO Atlantic and I was thinking of where can I add value to the chapter now,” said Lovett in an interview. “And then I heard about the accelerator program.”

Over the next two years, the program will work with 18 Halifax-based businesses with annual revenues of $250,000 to $1 million each. Its mission is to help these companies earn over $1 million in revenue, and hopefully join the EO Atlantic chapter.  This accelerator program is the first of its kind for EO Atlantic. 

"It’s a great way to give entrepreneurs who don't yet meet the EO revenue threshold a chance to gain access to expert coaching, accountability, and a peer network to help them aggressively grow their businesses," said Lovett.

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The program features quarterly learning days with EO coaches, panels, seminars and frequent accountability meetings, which are something that immediately drew Lovett to the program.

“That accountability is key because there really is none for the young entrepreneur. If you’re really going to be successful, it's about focus.”

The program will give its participants the tools they need to aggressively grow and properly handle their business. Lovett said 26 companies applied to the program and 18 were accepted. The businesses are involved in industries like design, restaurants, construction and marketing, to name a few.

“As a business owner, it's easy to get caught up in the day-to-day operations of the business,” said Doug Townsend, a participant whose family runs The Canteen and Little-C Takeout in Dartmouth. “The EO Accelerator forces me to step back and think strategically about how we run our company and position ourselves for long-term success.”

Adam Conter, from Priority 1 Real Estate,said: “I hope to immerse myself in my business through a network of experienced and dedicated entrepreneurs. Surrounding yourself with those who have created success in their field is incredibly motivating to constantly improve your own business.”

The EO Atlantic chapter has seen significant growth leading up to the accelerator launch. In the fall, EO Atlantic had the highest growth in members of all the chapters in Canada. It also had the highest percentage of women in its chapter.