Six startups have graduated from the first cohort of the Accelr8 program, marking a landmark in the development of the accelerator course that operates out of the Planet Hatch incubation facility in Fredericton.
The organizers held a graduation dinner on Thursday night to recognize the completion of the course. Executive Director Sally Ng said in an interview Sunday the accelerator will also hold a public demo day on Feb. 8 to give the public a chance to see presentations by the companies.
“It’s awesome,” said Ng when asked how it felt to have the first cohort in the books. “It shows the credibility in terms of what we can provide to the startups. What we want to be able to do for the startups is provide more than funding. We want to offer them mentorship and assistance.”
Located in Knowledge Park on the edge of Fredericton, Planet Hatch opened its doors in September to provide an incubation space for startups in the New Brunswick capital. Each company received $25,000 in support to help develop the company. One distinguishing feature of the incubator is that it is open a range of companies whereas some other support groups, such as Launch36 and Volta, cater almost entirely to tech companies.
The six companies, which have raised a total of about $500,000 in private investment, are drawn from five different sectors.
The companies are:
- Eigen Innovations: Eigen has developed industrial Internet algorithms that can help companies automate a range of actions in their manufacturing processes. Its first product uses thermal cameras to help food companies cook or freeze products more efficiently. The company received a $150,000 convertible note from BDC Venture Capital following its participation in the Launch36 program.
- Mycodev Group: Mycodev is a biotech company that focuses on producing a high-grade chitosan biopolymer for uses in medical devices, pharmaceuticals and high-tech industries. Ng said it is the first company that will leave Planet Hatch because it has outgrown the incubator. It was also named Most Innovative Startup at New Brunswick’s 2013 INNOV8 Awards.
- Resson Aerospace: Resson is developing aerial craft technology that has potential applications in agriculture, security and defence, oil and gas and other segments of industry.
- Hotspot Parking: HotSpot is improving the experience of downtown parking through digital systems that allow consumers or retailers to feed parking meters remotely.
- Hyton Innovation: Formerly called CeteX, Hyton is developing a process that helps manufacturers treat their wastewater. The equipment is housed in a single shipping container that powers itself and recycles clean water back into the manufacturing process.
- Timbre Cases: This startup is dedicated to making the best guitar cases available – stylish, durable and functional structures that protect the instrument. The company plans to diversify into cases for other instruments in the future.-
Ng said Accelr8 will call for applications in February for its next cohort, which will start in March.
Already the makeup of the Planet Hatch community is starting to change, as Mycodev is graduating out and OneLobby, a two-year-old company developing event management software, has moved into the facility.
All the other companies in the first cohort can remain in the facility until the end of August at the latest, then leave to make way for new entrants.
Ng also highlighted that Planet Hatch has become a central location for the startup community in Fredericton, and has hosted 16 events in its short history.
