I love sharing good news. The Canada Accelerator and Incubator Program (CAIP) will provide funding of up to $9.5M to Wavefront over the next five years. This is an exciting development for Wavefront that will enable us to expand the reach and capacity of our programs for mobile and Internet of Things entrepreneurs.
CAIP is a federal program designed to provide entrepreneurs with the resources and expertise they need to develop their business plan, seek financing and find new international markets for their products and services. Wavefront has been doing this for several years – now we’ll be able to build on our success and extend more support to more entrepreneurs in mobile and Internet of Things sectors across the country.
We have a plan to expand our support of early stage entrepreneurs through a number of initiatives:
- Venture Acceleration Program (VAP). Already a success in British Columbia, the VAP provides startups with training and hands-on support from an experienced Executive in Residence. Working with delivery partners Accelerate Okanagan (Kelowna), Accelerate Tectoria (Victoria), Centennial College (Toronto), Invest Ottawa and Volta (Halifax), Wavefront will expand the reach of this proven successful program.
- Venture Expansion Program. After taking part in the VAP, many companies require help to take the next step, to grow their markets and procure investment. We are developing a follow-up program, the Venture Expansion Program, that will help startups overcome these important challenges.
- International Market Entry. Wavefront has facilitated introductions for numerous mobile and Internet of Things entrepreneurs with international markets. By expanding these efforts, we will ensure more Canadian mobile and Internet of Things companies are able to connect with business opportunities beyond our borders.
- Wireless zones. Mobile developers use our Mobile Device Rental Libraries to test applications across multiple platforms and networks. We will establish more Wireless Zones across the country, increasing access to this important resource.
- Mobile and Internet of Things industry events. Sometimes there’s nothing better than opportunities to meet face-to-face. Wavefront organizes and takes part in a number of important events for the mobile and Internet of things industry, including our annual Wavefront Summits, hackathons and networking meetings. We can now enhance and expand these events to more communities across the country.
Extending a successful model
Having seen the impact of Wavefront’s programs over the past four years, I am excited by the opportunities we can seize with funding from CAIP. We can continue to deliver results, building on partnerships we have established across the country.
The economic impact of Wavefront’s programs is well established. We are helping Canadians develop viable products, penetrate markets and create jobs.
But for me, the real satisfaction comes from seeing entrepreneurs transform their bold idea into a viable business. Companies like Awesense Inc., which helps utility companies make most efficient use of their electrical distribution grid. Or Curatio, one of many mobile health startups who are helping make vast improvements to health care.
There will be many more Canadian success stories very soon – just watch us!
We look forward to accelerating our efforts in support of Canadian entrepreneurs. If you have ideas about how we can do this, please contact me.