Propel, Western University’s entrepreneurship accelerator, announced its new cohort of startups for its 2016 Propel Summer Incubator (PSI). The PSI program received applications from more than 50 entrepreneurs. After a competitive process involving a written application and in-person pitch, 11 startups were accepted.
PSI is quickly establishing itself as a premier incubator program for the region’s most promising entrepreneurs. With a strong focus on sales and user acquisition, PSI provides $7,500 in seed funding to each founder, permanent desk space, and a series of sales-focused workshops over 16 weeks.
A group of experienced mentors, all members of the London entrepreneurial community, will work closely with each of the teams to assist with strategic decision making and connections to industry. The program wraps up in mid-August with a demo day that will provide the startups an opportunity to pitch to investors and other members of the local community.
“We hope to foster a collaborative culture, where startups pool their knowledge to overcome tough challenges and explore new opportunities,” said Ian Haase, Director of Propel. “PSI is a chance for our best and brightest startups to focus 100% of their energy during a critical time in their growth. We are surrounding them with all the tools and resources they need to succeed locally.”
In 2015, the 7-team PSI Cohort achieved more than $150,000 in sales and reached over 1,100 customers in 70 countries.
Ayush Vaidya, co-founder of Everest Media Group and a participant in last year’s program said the Propel Summer Incubator was truly a pivotal point for his business.
“PSI not only gave us guidance with business decisions from numerous staff and mentors from a wide range of backgrounds and experience, but the program also opened up new doors for us and helped us make new connections we will likely continue to use,” said Vaidya. “Being a part of this program has sharpened our technical and soft skills, and further shifted our outlook towards scaling our business to a level where we can compete with the best in our industry.”
The PSI 2016 cohort includes:
- 65 Interactive: Tyler Bryden and Alexander Brucki
- Asset Direct of Canada Inc.: Adam Rice
- Booch Organic Kombucha: Shannon Kamins
- Club EVOQ: Kishwar Hashemee
- Fill Spaces: Matt Ross and Amir Farahi
- GamerLink: Deion Farrington and Ryan Figueiredo
- Pascal Press: Alan Kalbfleisch
- Realtofy: Harry Liu
- Vectra Heavy Haulers: Adam Gapinski
- Wrist & Rye: Travis McKenna and Brennan de Langley
- YourTech: Oisin ONeil
MEDIA CONTACT: Stephen Ledgley, Senior Media Relations Officer, Western University, 519-661-2111 x85283, firstname.lastname@example.org
Western University delivers an academic experience second to none. Since 1878, The Western Experience has combined academic excellence with life-long opportunities for intellectual, social and cultural growth in order to better serve our communities. Our research excellence expands knowledge and drives discovery with real-world application. Western attracts individuals with a broad worldview, seeking to study, influence and lead in the international community.
ABOUT PROPEL, WESTERN’S ENTREPRENEURSHIP CENTRE
Propel is part of the Campus-Linked Accelerator (CLA) program, an initiative of the Ontario Government and administered through the Ontario Centres of Excellence (OCE). Propel is partnered locally with LEAP Junction at Fanshawe College. The centre provides co-working space, mentorship, seed funding, events and acts as an advocate for local startups in the community.