Launch36 Program Exceeds its Target of Launching 36 Companies in Three Years, New Target of Launching 420 Companies over Next Five Years Set
Fredericton, NB—With its latest “Demo Day held today in Fredericton, Propel ICT, a private-sector lead accelerator, exceeded its Launch36 program target of launching 36 companies in three years. Today’s event saw seven emerging Atlantic Canadian startups pitch their companies to an audience of hundreds of investors, influencers and potential partners.
The presenting companies were:
- Bungalo (Reykjavík, Iceland/Halifax, NS)
- Fundmetric (Halifax, NS)
- Sentinel Alert (St. John’s, NF)
- Simptek (Fredericton, NB)
- Smartpods (Dieppe, NB)
- Swapskis (Halifax, NS)
- PACTA (Halifax, NS)
“Three years ago, we set a goal of helping launch 36 new startup companies in three years. There were some who thought it couldn’t be done. Today we are blowing the doors off that target, with a total of 49 companies completing Launch36 in less than three years,” said Jeff Thompson, Chair of Propel ICT. “We know that extraordinary levels of entrepreneurial talent and ambition reside in Atlantic Canada. Now we set an even more ambitious goal for Propel ICT – to launch 420 companies over the next five years.”
The seven companies pitching today emerged from the latest cohort of 20 Launch36 participants, the largest group yet. This includes companies supported by Propel ICT’s community partners Planet Hatch in Fredericton and Volta Startup House in Halifax. They offer programming to early stage startup companies while Propel ICT supports startups further along in their journey.
“We are seeing the startup ecosystem in Atlantic Canada growing and maturing,” said Larry Shaw, Chair of Planet Hatch. “By working collaboratively with Propel ICT, we help companies in Planet Hatch’s programs connect with more opportunities to grow.”
Jevon MacDonald of Volta Startup House in Halifax believes that by coming together, the East Coast startup community can be greater than the sum of its parts. “We need to take a regional approach to our startup community to maximize its potential. That’s why it’s important for Volta to partner with organizations like Propel ICT and Planet Hatch.”
Demo Day was marked by other big news. Resson Aerospace, a graduate of the previous Launch36 cohort, announced it received $3 million in funding from several venture capital firms.
Propel ICT also introduced its new CEO. Gary Dinn joins Propel ICT after a successful career in the technology sector, including founding Rutter Inc., which went public on the Toronto Stock Exchange, and serving on many industry associations. He will be based in St. John’s, Newfoundland and Labrador.
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