innovation center MaRS Commons
has announced the creation of a new technology accelerator, dedicated to building high-growth web and mobile companies in the IT, communications and entertainment industries. JOLT
will select up to 15 high-potential startups annually, provide them with space, seed financing, and mentorship. It will also ensure access to partners and investors.
Helping these companies secure the capital and talent necessary to scale efficiently is the goal of the program.
"Five years ago, MaRS set out to build a platform upon which the next generation of technology companies could scale," said Dr. Ilse Treurnicht, CEO, MaRS Discovery District.
"JOLT is a key component of this platform, serving the needs of entrepreneurs in the exploding IT, communications and entertainment space by giving them the tools, capital and advice required for success, and fostering tomorrow's growth economy."
Over 70 experienced entrepreneurs and executives from Canadian startups
have demonstrated interest in JOLT.
"We are very excited to act as a partner in JOLT," said investor Jonathan Straus. "A mentor-based incubator enables entrepreneurs to benefit from the experience of those who have been there before. This guidance is invaluable in the challenging period of starting a business and can mitigate some of the risk for early-stage investors."
Several partners will actively commit their time, expertise, and services to help JOLT companies become market leaders. One of those is CFC Media Lab, a training and creative production think-tank for emerging new media developers. Another is user design and experience agency JET Cooper.