The Accelerator Centre in Waterloo is creating more room for 30 early-stage companies.
Known as Reactor, the expansion covers 720 square metres (8,000 square feet) in the former Innotech Building at the David Johnston Research and Technology Park. Reactor houses entrepreneurs and companies in AC Momentum, where they gain business knowledge and possibly graduate into the Accelerator Centre’s mainstream program for startups.
“We could see the tremendous potential of these companies,” Paul Salvini, the Accelerator Centre’s chief executive officer, said today in a news release. "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 Accelerator Centre is in a building at the northwest corner of Hagey Boulevard and Frank Tompa Drive in the technology park. Reactor occupies space nearby, in the building at the northeast corner of the intersection.
AC Momentum had about 153 square metres (1,700 square feet) in the Accelerator Centre, but needed more space as demand rose. The Reactor project involved several partners: Cora Developments, the City of Waterloo, the Canada Accelerator Incubator Program (CAIP), the Campus-Linked Accelerator Program and the Cowan Foundation.
