Canadian Accelerator and Incubator Program (CAIP) funding will expand Wavefront support to Canadian entrepreneurs
June 20, 2014, Waterloo, ONT –Prime Minister Stephen Harper announced today that Wavefront is among the finalists for the $100 million Canadian Accelerator and Incubator Program (CAIP). CAIP is a five-year funding program that represents a significant investment by the Government of Canada to support the growth and development of promising entrepreneurs and start-up firms.
The program will enable Wavefront and the other finalists to expand their overall service offerings to early-stage firms and entrepreneurs, creating more investment-ready small and medium enterprises (SMES) that are able to develop into sustainable, high-growth businesses. Wavefront, Canada’s Centre of Excellence for Wireless Commercialization and Research (CECR), was recently named “Accelerator of the Year” in the Startup Canada national awards program.
“We are very pleased to learn that Wavefront has advanced in the CAIP process,” stated Wavefront President and CEO James Maynard. “CAIP will enable us to build upon our award-winning acceleration program and increase the number of technology innovators we work with across the country. It’s an important step in the government’s plan to help ensure that Canada’s promising, innovative start-up firms have the resources required to grow and succeed.”
The CAIP funding will increase the breadth and geographic reach of Wavefront’s acceleration programs that support mobile and Internet of Things solution developers. Wavefront has partnered with other accelerators, associations, and private sector companies for the development and delivery of the services. New programs and resources available to Canadian entrepreneurs as a result of this program include:
- Wavefront’s Venture Acceleration Program (VAP) will service all regions of Canada (currently available in BC only).
- A new Venture Expansion Program will be launched nationally for companies that are graduates of the VAP and/or are export ready. This program will focus on investment and export activities, both of which are key challenges for sustainable growth of Canadian SMEs.
- The Wavefront Global Market Entry Program will qualify export-ready companies and provide them with education, preparation, and direct assistance to successfully penetrate new global markets.
- Roll out of new innovation centres across the country that provide local SMEs with direct access to tools, devices, and mentorship required to help drive their business forward.
- Ongoing development of training and educational materials to keep Canada’s mobile entrepreneurs at the leading edge of innovation and growth.
“These programs and capabilities will catalyze the growth and time to market for Canadian companies, enabling them to create additional jobs, acquire new customers and investors, and generate revenues faster,” remarked James Maynard. “Wavefront’s programming to-date has achieved five-fold economic return on every dollar invested (measured in terms of GDP), accelerated companies’ time to market 4-6 months and increased their revenues by 20%. I look forward to growing those numbers further as we roll out these enhanced services.”
Wavefront is Canada’s Centre of Excellence for Wireless Commercialization and Research (CECR), accelerating the growth and success of wireless companies in Canada by connecting them with critical resources, partners and opportunities, to drive economic and social benefits for Canada. Wavefront products and services are available to wireless and non-wireless companies looking to leverage mobile technology. They include a comprehensive suite of accelerated commercialization and mentorship programs, international market linkages, state of the art wireless product development and testing infrastructure, and wireless training programs and events. For more information and to join the Wavefront Community visit www.wavefront.ca/accelerator.