Communitech’s $30 million startup funding program Hyperdrive today gained a new partner. The Ontario Centres of Excellence said it will be the latest organization to contribute its resources to fund the startup incubator headquartered in Waterloo, Ont.
As part of the program agreement, OCE could provide funding directly to companies that have collaborated with or have spun out of an academic institution. In addition, OCE will offer coaching and mentoring to technology startup candidates that are accepted into the program to assist in their growth.
Companies accepted into the Hyperdrive program take part in a three-month sprint, focusing on customer and market validation. The accelerated three-month period also includes a trip to New York City where startups have the opportunity to network with funders, partners, and potential customers. Upon successful completion, companies can earn $150,000 in convertible debt from one of the three funding partners.
Secure mobile device management
Fuelled Networks has launched a mobile device management system that will help Ottawa-based businesses secure their networks.
The BYOD (bring-your-own-device) trend has made it increasingly challenging for IT departments to manage and secure corporate networks.
However, Fuelled Networks said, their product can help administrators better control access to the network and prevent rogue devices from tapping into company resources.
The mobile-ready business applications can be deployed across all mobile devices with ease, and all registered devices can receive application updates when required, including security updates and patches, said Ernie Sherman, CEO of Fuelled Networks.
As part of the contract, Xplornet Communications Inc. will build a wireless network which will give a substantial portion of the 250-square kilometre region at the northwestern corner of the Kawartha Lakes access to speeds of up to 10 Mbps. These speeds enable users to stream video and use other innovative applications.
“Connecting to the Internet with higher speeds will open new doors for our communities in terms of quality of life and economic growth,” said Mel Campbell, chair of the Eastern Ontario Wardens’ Caucus (EOWC) which awarded the contract to Xplornet.
In all, 22 local access contracts will be awarded in 15 zones to deliver high-speed Internet through wired and fixed wireless services as part of the Eastern Ontario regional broadband project. Work to build a massive, 5,500-kilometre fibre optic network is near completion and contracts have also been signed to deliver high-speed via satellite at improved pricing. The $170 million project is funded by federal, provincial and municipal governments and private sector investment.