Communitech, the regional hub for the commercialization of innovative technologies supporting and building a Southwestern Ontario tech cluster of more than 800 companies, has launched HYPERDRIVE a new incubator for Canadian tech startups.
The program will provide high-potential companies with expert mentoring, support from service providers such as legal and accounting firms, and seed funding.
Mentoring will last two years per startup.
HYPERDRIVE will operate from The Communitech Hub in Waterloo Region, which is a 44,000 square foot facility dedicated to digital media innovation, leveraging locations in New York and Silicon Valley.
Based on an application process, 10 companies will be accepted up to three times annually.