Ted Hastings & Steven Woods to Lead Mentor Network for Startups
WATERLOO, ON, June 1, 2012 /CNW/ - It's game on for HYPERDRIVE as entrepreneurs Ted Hastings and Steven
Woods partner as Communitech HYPERDRIVE advisors. Hastings, a serial
entrepreneur in online publishing, and Woods, Engineering Director for
Google in Canada, are set to take on and share the pivotal role of
overall business advisors to companies participating in Communitech's
new $30-million-plus tech incubator program.
"It is our honour to welcome Ted and Steve to the team as they are both
great ambassadors of what hard work and an entrepreneurial spirit can
achieve," said Iain Klugman, CEO of Communitech. "Their combined track
records as successful serial entrepreneurs make them valuable assets
and skilled thought leaders equipped to take HYPERDRIVE tech start-ups
to the top of their game."
Hastings, an accomplished 38 year-old businessman and scholar, who was
named to Canada's prestigious "Top 40 Under 40" list, is an
Woods, a 12-time patent holder and the co-founding mastermind behind
Quack.com, a popular voice portal platform developed in 1998, is sure
to make an impact with his wide range of entrepreneurial experience.
"They've got the industry experience, they've built many companies and
have the international business savvy to be able to advise and coach
the companies in a number of areas," said Steve Currie, VP of Venture
Services at Communitech. "They can absolutely relate to what all the
companies in HYPERDRIVE are going through, and bring real-time examples
to the table."
Michael Litt, CEO and co-founder of VidYard, and a Y Combinator
graduate, had this to say about Woods' new mentoring role and
partnership with Hastings: "I think he's done wonderful things for
Google Canada, and he'll do wonderful things for HYPERDRIVE as a coach.
The two together are a really good team, because Ted will have an
in-depth financial knowledge and operational knowledge, and Steve will
have the product and technology knowledge."
Both visionaries are well acquainted with the available tech talent and
opportunity in the Waterloo area, having spent their academic careers
in the region's post secondary institutions. Hastings earned his
business administration degree from Wilfrid Laurier University and
Woods attained his PhD and Masters in Math from the David R. Cheriton
School of Computer Science at the University of Waterloo and currently
operates out of Google's Kitchener-Waterloo office.
"I think it speaks volumes to the calibre of the program that has been
assembled," said Klugman. "Ted is a master deal-maker who knows how to
raise money and make money; Steve is a renowned technical dude as well
as being a serial entrepreneur."
Communitech is located in Waterloo Region, 110 kilometres (66 miles)
west of Toronto, Ontario, Canada in an area that includes the cities of
Kitchener and Waterloo. Founded by a group of dedicated entrepreneurs
in 1997, Communitech is the regional hub for the commercialization of
innovative technologies supporting and building a Southwestern Ontario
tech cluster of more than 800 companies that now generates more than
$25B in revenue. A member of the Ontario Network of Excellence, which
is funded by the Ontario government, Communitech supports tech
companies at all stages of their growth and development - from startup
companies, to rapidly growing SMEs, to large global players - to create
greater numbers of successful global businesses for Ontario and for
About Communitech HYPERDRIVE
Communitech HYPERDRIVE http://www.communitech.ca/hyperdrive/ is a startup incubator that will provide enhanced mentorship and other
life cycle services to early stage tech companies. The goal of the
program is to maximize the ability of these companies to commercialize
innovations and prepare the companies for investment opportunities. The
program will also enable 'soft landings' for experience in foreign
markets, and higher visibility for investment sources and business
SOURCE Communitech Ltd.
For further information:
Shelley Grandy, Sr. PR Advisor, Communitech, 905-866-2656 or firstname.lastname@example.org