Propel ICT Reports Record Number of Applications
MONCTON–Atlantic Canadian startup accelerator Propel ICT has reported a record number of entrepreneurs applying to its programs.
Applications increased by 25 per cent from last year with a total of 162 companies submitting applications to the Build and Launch programs this year.
Because of increased demand, Propel ICT will start offering the Build program, which supports more established companies, and the Launch program, which helps companies just getting started, twice a year instead of once a year.
This was the first year Propel ICT expanded into PEI. Nearly 20 per cent of applications came from the province for the latest programs.
“The record interest in Propel ICT’s accelerator programs shows that the startup community in Atlantic Canada is building momentum,” said CEO of Innovatia and Chair of Propel ICT Dave Grebenc. “More people are recognizing that they can build successful companies from a base on the East Coast. We are offering two cohorts for our programs, that will ensure over 72 companies graduate from Propel ICT each year.”
Of this year’s applications, 56 companies have been invited to pitch their ideas to a panel at selection camps being held in Moncton on February 3 in collaboration with Venn Centre and Planet Hatch, in Halifax on February 4 in collaboration with Volta, in St. John’s on Feb. 8 in collaboration with Common Ground and in Charlottetown on Feb. 11 in collaboration with LaunchPad PEI.
36 finalists will then be selected through this process for Propel ICT’s accelerator programs which will begin on March 1.