Three alumni of Vancouver's Centre4Growth accelerator – BeanEvo, ESL Explorer and ViewsIQ – are among the 11 Canadian startups that have been accepted into a new Waterloo-based incubator called Hyperdrive.
The new $30 million incubator prepares startups over a two-year period to obtain series A investment. Participants accepted in to the program do a three-month "sprint" in Waterloo focusing on customer and market validation.
Over the next two years, they receive mentorship and $100,000 worth of support services such as like accounting and legal services. They also will spend a week in New York City meeting potential customers and investors.
The Vancouver startups were introduced to the Hyperdrive program through their participation in the BC Technology Industry Association's Centre4Growth.
"We're thrilled to see three of our Centre4Growth companies chosen to join the second cohort at Hyperdrive," said BCTIA CEO Bill Tam.
"By bringing the right resources to our community, we can affect the growth of small companies into mid-sized, advancing our industry and economy."
ViewsIQ has developed a program called Panoptiq for the medical field that turns images from a microscope into interactive digital slides.
BeanEVO describes itself as "web-based accounts payable solution designed to save time and costs processing invoices."
ESL Explorer is a web-based service that matches people from around the world with the best cities and schools to study English in Canada, the U.S., England, Australia and other English-speaking countries.