Waterloo-based Communitech admitted eleven new startups to the third cycle of its HYPERDRIVE accelerator. The six-month program emphasizes investment, sales, and marketing to grow businesses. In a press release, Managing Director Doug Cooper explained that HYPERDRIVE's intention "has always been to take our companies to the point where they have validated their business models and markets and become attractive prospects for investors. With our new format, we are better positioned to transition them into the sales and marketing mindset they need to drive revenue and scale their businesses."
The eleven new startups for the program are Apollonia Health, AvidTap, Commission Pitch, Market Clouds, RENOMii Technologies, Roadmunk, StrataVox, Studybucks, Tacit Innovations, Togethr, and Smile Epidemic. Ever since Communitech started HYPERDRIVE last year, 18 startups already participated in its first two cycles. Communitech have raised more than CAD 3.7 million and made revenues of over CAD 500,000. They also generated more than 70 jobs.
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