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Accelerating their schedule Accelerator Centre looking forward to graduating its first business 18 + WATERLOO CHRONICLE + Wednesday, May 30, 2007 The 22,700â€"squareâ€"foot facility, located in the heart of the Univerâ€" sity of Waterloo Research and Technology Park, has reached capacity. brate. _Currently, 17 startup compa nies are working with the centre. "We far far surpassed where we thought we would be at the end of a year," said Bobbi Holte, the cenâ€" tre‘s director of client programs. And one of them is expected to "graduate" in the next six to nine months. "The fact that in less than a year we were 100 per cent full with some good solid companies, that was phenomenal. Tom Corr recently took over from Gerry Sullivan as the centre‘s CEO. He is also the associate viceâ€" president of commercialization in the UW‘s office of research, which helps keep the centre tapped into what‘s happening there. "Although, you don‘t have to be from the University of Waterloo to come into the Accelerator Centre â€" it really is a community Accelerâ€" ator Centre. You just have to meet our entrance criteria," Holte said. "We‘re happy about that, but we still see a lot of potential here." The Accelerator Centre, which opened its doors in midâ€"May 2006, is designed to foster the growth of highâ€"tech firms, and serve as a catâ€" alyst for the creation of new prodâ€" ucts and services. To get in, a startup company needs more than just an idea. "It has to be that they have been developing the technology, they‘ve been working on their business plans. "So a little bit further along than what I call the backâ€"ofâ€"theâ€" napkin stage." 0 In addition to an initial busiâ€" ness plan, companies must also have some funding. Eight of the centre‘s 17 compaâ€" nies are considered "full clients," meaning they work out of the building. Then there are nine others that fter only one year in busiâ€" ness, the Accelerator Centre has many reasons to celeâ€" By Jennirer Ormsron _ Chronicle Staff Bobbi Holte, the Accelerator Centre‘s director of client programs, says the first year in operation has exceeded their expectations. have cubicles in the facility, though their businesses are still in the early stages. â€" Three companies are currently on a waiting list for one of these "innovation condos." Suited Media, Tangam Gaming and Infusion Angels are just a few of the centre‘s clients. The companies pay a monthly fee, which gives them access to the facility and covers all of their overâ€" head costs, including access to meeting rooms, reception and photocopying, among others. Holte plays a business advisory role with the clients. "So basically, once they get inside the building, I kind of take over in terms of getâ€" ting them integrated into the Accelerator Centre," she said. She lines them up with industry mentors, and provides a number of training and development proâ€" MAY IS MATTRESS ,%& MADNESS MONTH stâ€")ACOBS Therapedic Mattress Sale + Don‘t pay more + Huge Savings FURNISHINGS a Take $100 off selected mattress sets with purchase of a bed St Jacobs Farmer‘s Market Complex, UP TO 50% OFF on ssecreo marreess sets â€" Visft us at: grams. And she helps them get to "the right people," whether that may be a human resources specialist or a bookkeeper. "We far far surpassed where we thought we would be at the end of the year." "We want to best arm them â€" Bobbi Hoite Director of client programs at the Accelerator Centre with the people and the resources that will get them to be able to commercialize their technologies as quickly as possible," Holte said. The centre tries to remove the everyday distractions to allow clients to focus on what‘s going to make them successful, like landing customers, finishing technology and raising funds, to name a few. None of the startups have gradâ€" uated yet, and Holte predicts it will generally take them between one and three years to do so. During that time, they are restricted on how much space they can use, with no one client having more than 10 per cent of the cenâ€" tre, as a rule of thumb. Clients normally occupy one of 20 office suites, which range in size from 250 to 800 square feet. As a notâ€"forâ€"profit, the centre does not take equity in the clients RNNIFER ORMSTON PHOTO 878 Weber Street N., Waterloo 519.747.1832 BA "That was a fundamental deciâ€" sion made by the very early board of directors, (to be) notâ€"forâ€"profit and not take a stake in any of the companies," said Carol Stewart, the business development managâ€" er for the Research and Technology The Accelerator Centre, in conâ€" trast, focuses on working with clients, giving them access to netâ€" works and knowledge, and providâ€" ing training, development and the proper environment to keep them focused, rather than taking an equity stake, Holte said. "There are a â€" lot _ of incubator/accelerator type faciliâ€" ties in North America that actually do work differently than us." _As the centre enters its second year of operations, it is coming from a position of strength, Holte "Our main focus is on graduatâ€" ing some companies and having them go out and grow big and strong and hire lots of people." Once that happens, the hope is former clients will return and mentor the next generation of upâ€" andâ€"comers. "You‘re creating engaged comâ€" munity citizens here," Stewart said. "And from an economic develâ€" opment point of view, that‘s a realâ€" ly effective way of keeping good people in this community, and attracting new ones too." Moving forward, the centre is considering options for expansion. And they‘re always exploring future partnerships and ways to expand the level of programming and services they provide. "We‘ve scratched the surface," Holte said. "There‘s a lot of things that need percolating. â€" This article is the first in a new Chronicle series on local startup companies. The series will run on the last Wednesday of each month. They may start looking at pro viding some of their services on line in a virtual centre. "And just when you think you have figured out what everybody needs, you‘re going to get a comâ€" pany that has completely different needs, so we have to be constantly adapting and evolving."