Hyperdrive accelerator program open for applications

Waterloo, Ont.-based Communitech is calling for startup applications to take part in the second cohort of its Hyperdrive accelerator program, it announced today.

With events in Vancouver Nov. 14 and in Toronto Nov. 20, it’s likely the technology hub will receive hundreds to thousands of applications to fill at most 10 spots in its two-year mentoring program. Startups that get accepted to the program receive seed funding in the amount of $50,000 upon the beginning of a three-month intense development period, and then another $150,000 upon the successful completion of the program, and over an 18-month support program.

Teams selected for the Hyperdrive program will be working out of the Communitech building.

Launched this spring, Hyperdrive’s first cohort saw seven companies debuted at a demo day event Oct. 12.  Startups considering a submission to the second cohort should have prepared a short video describing their team, biographical information about team members, and information on money already raised. Deadline to apply is Nov. 30.

Source | Hyperdrive

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