Gary Dinn, Propel ICT’s CEO, has resigned from the organization to pursue other opportunities. “The Board of Propel ICT would like to thank Gary for his leadership of the organization and his personal commitment to growing the startup community in Atlantic Canada,” said Dave Grebenc, Chair of Propel ICT.
Over the past year, Propel ICT continued its regional expansion to cover all parts of Atlantic Canada. Earlier this fall, we held a successful Demo Day event in Moncton, New Brunswick, with a dozen companies pitching a packed room of potential investors and partners.
Propel ICT received 127 applications from across Atlantic Canada for its last cohort, and 33 companies successfully completed the Launch and Build programs. This illustrates the rapid growth of the East Coast startup community. Our last goal was to launch 36 companies in three years, which some felt was too ambitious. This year, with 33 companies already launched in just one cohort, Propel is living up to its name.
The team at Propel ICT is equally excited about what lies ahead. For example, we held our first formal Alumni event over the weekend of Nov. 6. We received great feedback on how best to evolve the organization and what we can do to help our Propel ICT family of founders and leaders continue to innovate while creating jobs, opportunities and wealth in Atlantic Canada.
Propel ICT is committed to not just increasing the number of startups that go through our 12 week programs, but also helping them grow to what the industry calls Gazelles and Unicorns, companies with $100 million and $1 billion valuations.
In addition the Alumni program, Propel ICT is equally committed to making improvements to our accelerator program. We will continue to do this by working with our community partners, universities, and private and public sector partners. It is vital to plant the seeds for entrepreneurial and technology ideas from which we can grow new companies.
The process to find the next Propel ICT CEO who will lead this exciting growth strategy has already begun. Members of the Board of Directors are personally engaged in the search and are looking to have the new CEO in place by February. For the time being, current Propel ICT Chair Dave Grebenc will be acting as interim CEO.