The Accelerator Centre today announced an expansion of its facilities and services to better serve early stage companies and entrepreneurs within Waterloo region.
Reactor, the new 8,000-square-foot facility located in the Innotech Building in the David Johnston Research + Technology Park, represents an expansion in both space and capacity for the organization. Dedicated to early-stage clients in the AC Momentum program, Reactor nearly doubles the number of companies that the AC will house.
“AC Momentum was launched in the fall of 2014 to address the growing number of early-stage companies that were coming to us, but weren’t ready to enter our flagship Accelerator Program,” explains CEO Paul Salvini. “We could see the tremendous potential of these companies and, rather than turn them away, we created AC Momentum and developed a one-year curriculum that is tailored to the needs of early-stage companies; validating their idea and preparing them to enter the Accelerator Program and start scaling their business.”
The AC Momentum program was initially housed in a 1,700-square-foot space within the AC’s existing building. Working in partnership with Cora Developments, the AC was able to carve out a new home for the program that is more than four times larger than the original space. Reactor will house approximately 30 companies.
Since 2006, the Accelerator Centre has developed and nurtured over 180 early-stage technology start-ups that have create 1,300 new jobs, and generated more than $500 million in revenue and funding. 48 companies have graduated from the Accelerator Centre.