As Atlantic Canada’s startup accelerator, Propel ICT is once again opening up applications for companies to take part in our next round of accelerator programs.
“With Propel ICT’s Launch and Build programs, we want to continue the trend of steady growth in Atlantic Canada’s startup ecosystem, and provide meaningful guidance to the entrepreneurs that will transform our economy,” says Gary Dinn, Propel ICT CEO.
As a private sector led initiative, here at Propel ICT we help companies take their ideas to market to become successful businesses. We’re working with some great partner organizations throughout Atlantic Canada. We also have a great team of volunteer coaches and mentors who have stepped up to support our entrepreneurs as they build innovative solutions, create jobs and drive new opportunities throughout Atlantic Canada.
Since beginning this journey a decade ago, we’ve helped launch 75 companies. Sarah Murphy, a founder at St. John’s-based Sentinel Alert, describes Propel ICT as an extraordinary experience. “Taking part in Propel ICT’s program allowed us to move faster in building our company and it gave us a huge leap forward,” says Murphy.
Our Launch program helps entrepreneurs get started with new, or pre-revenue businesses. It helps early-stage entrepreneurs create strong teams and teaches them how they can work together to transform an idea into a market-ready product or service. Participants in the Launch program are also eligible for a Futurepreneur loan of $15,000. Launch programming is delivered at our community partners’ offices: Planet Hatch in Fredericton, Volta in Halifax, Common Ground in St. John’s, and StartupNL.
The intensive Build program helps early-stage, companies that have entered the revenue-generation stage to gain traction, find needed funding and grow. Build participants then work directly with mentors, coaches and peers to learn how best to build their business, refining product offerings, opening up new markets and generating more revenue. Startups in this program are also eligible for BDC’s $150,000 convertible note program.
“Taking part in Propel ICT really opened our eyes to the potential of our company,” says Peter Goggin, cofounder of Fredericton's Resson Aerospace. After completing the Propel ICT program, Resson raised $3 million in venture capital funding led by Rho Canada Ventures and Build Ventures, and is now considered a rising star on Canada’s tech scene.