WATERLOO REGION, ON, Sept. 18, 2012 /CNW/ - Communitech, a tech organization that began as the brainchild of a handful of tech leaders and now serves a community of nearly 1,000 tech companies, celebrates its 15th anniversary tonight with an open house for member companies.
"As a 1968 ad campaign once said, 'You've come a long way baby' and that sums up how we feel at Communitech looking back at 15 years of progress," said Iain Klugman, CEO of Communitech. "It's been a lot of hard work and even more fun putting Waterloo Region tech on the map with the help of a hugely supportive community."
Communitech decided to host its member companies, who are the mainstay of the organization, for its 15th anniversary, showcasing the services offered which companies can avail themselves of -- everything from an active events roster to value-added speaker programs, to special entrepreneur events and specialized mentoring programs for startups.
"Communitech is a gym for your business; pick the workout you need and before you know it, your business is in great shape and you are leading the pack," said Klugman. "That's what the open house is all about, reminding members of the services and support available and the fact that they can continue to rely on us, hopefully for the next 15 years and beyond."
Some of the front runners in Waterloo tech include: Canada's largest tech company Research In Motion; Canada's largest software company OpenText; Canada's largest satellite company COM DEV; one of the world's top producers of visual technology displays; Christie Digital Systems Canada Inc.; and Canada's largest eLearning company Desire2Learn. The sector also includes over 400 startups, hundreds of small-medium enterprises, and large enterprises with presence around the world.
While there have been many highlights throughout the 15-year history of Communitech, one of the biggest accomplishments was the partnership from all levels of government and the private sector to establish The Communitech Hub, a 44,000 square foot digital media and mobility incubation centre that is fully occupied and home to some 100 startup companies.
"The Hub is really the crown jewel in terms of what we can point to as an achievement for the organization, again with the help of dedicated partners and supporters," said Klugman. "We continue to operate programs at the Accelerator Centre and at The Communitech Hub to meet the needs of companies of all sizes."
Another exciting innovation at Communitech is the HYPERDRIVE program initiated this year, a $30 million+ startup incubator that will nurture up to 30 companies annually to help seed innovation in Canada.
Some of the key statistics for Waterloo Region tech include:
- 400+ burgeoning startups and 573 new startup jobs
- Almost 1000 tech companies
- $12.63 in economic impact for every $1 of public funding
- 30,000 tech professionals employed in the local industry
- Over $ ½ Billion in acquisitions over the last 12 months
- $535 million in deal flow in 2011
- Invested venture capital, private equity and angel financing grown from $7 million in 1997 to more than $300 million today.
"The high-tech growth trajectory in this Region has been amazing to watch over the history of Communitech," said Klugman. "No one should underestimate the dedication and ability that resides here, and the capacity for ongoing innovation."
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 almost 1000 companies that now generates more than $25B in revenue. A member of the Ontario Network of Excellence, 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 Canada.
SOURCE: Communitech Ltd.
For further information:
Shelley Grandy, Sr. PR Advisor, Communitech, 905-866-2656 or [email protected]