Waterloo Region – August 20, 2013 – A 12th participant has been added to the third cycle of Communitech’s HYPERDRIVE seed accelerator: Kreyonic Ltd. of Sri Lanka.
“With HYPERDRIVE our focus is to attract and grow the world’s best startups,” said Doug Cooper, the program’s Managing Director. “We provide the ideal mix of resources, mentorship and networking opportunities to equip any promising startup from anywhere in the world with the tools they need to succeed.”
“As with all of our HYPERDRIVE companies, Kreyonic will find in Waterloo Region a concentration of mentors, resources and peers with whom to share ideas that is rare anywhere in the world. We’re thrilled to welcome Kreyonic as our first international participant and I am confident it is the first of many,” said Iain Klugman, CEO of Communitech.
Since its creation just over a year ago, HYPERDRIVE has admitted 18 companies to its first two cohorts. This has already resulted in millions of dollars of investment capital. For its third cohort, HYPERDRIVE has adopted a new data-driven approach to tracking progress, and extended its 3-month sprint with programming to help companies ramp their sales and refine their marketing plans to move participants further along the path to commercial success.
For more information on the other participants in this cohort, and on the program’s changes, please see Communitech’s Improved Seed-Accelerator Unveils Third Cohort.
At the end of six months, HYPERDRIVE companies transition to the comprehensive programming Communitech has developed over the past 15 years.
Founded in Waterloo Region by a group of dedicated entrepreneurs in 1997, Communitech is the regional hub for the commercialization of innovative technologies, supporting and building a tech cluster of nearly 1,000 companies that generates more than $30 billion in annual revenue.
A member of the Ontario Network of Entrepreneurs, which is funded by the Ontario government, Communitech supports tech companies at all stages of their growth and development—from startups to rapidly-growing mid-size companies, to large global players. Its goal is to create greater numbers of successful global businesses for Ontario and Canada.
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