Propel ICT, Atlantic Canada’s startup accelerator, has announced a 25 percent increase in the number of entrepreneurial teams applying for its startup programs.
A total of 162 companies have applied to take part in Propel ICT’s Build and Launch programs in the first half of 2016.
The growing demand means that Propel ICT will now offer its programming for selected companies twice a year.
Propel ICT’s Build program supports companies that have an established product and market. Its Launch program is for ventures that are just getting started.
Propel ICT’s growth has been boosted by its recent formal expansion into Prince Edward Island. The province now represents nearly 20 per cent of applications.
“The record interest in Propel ICT’s accelerator programs shows that the startup community in Atlantic Canada is building momentum,” Dave Grebenc, CEO of Innovatia and Chair of Propel ICT, said in a statement.
“More people are recognizing that they can build successful companies from a base on the East Coast. We are offering two cohorts for our programs that will ensure over 72 companies graduate from Propel ICT each year.”
Of the recent 162 applications, 56 companies have been invited to pitch their ideas to panels of private sector judges at selection camps, which will be held throughout the region.
In Moncton, a camp will be held in collaboration with Venn Centre and Planet Hatch, on Feb. 3. In Halifax, a camp will be held in collaboration with Volta on Feb. 4. In St. John’s, a camp will be held with Common Ground on Feb. 8. And in Charlottetown, a camp will be held with LaunchPad PEI on Feb. 11.
The camps will select a total of 36 finalists for the accelerator programs, set to begin on March 1.
Propel ICT works with volunteer mentors and community partners throughout the region.
[Disclaimer: Propel advertises in some Entrevestor products.]