Propel ICT receives $2.9 million in CAIP funding

Propel ICT has received $2.9 million from the Canada Accelerator and Incubator Program (CAIP) to assist firms in the digital technology space to grow, access financing and penetrate international markets. The accelerator, which began in New Brunswick and expanded its focus to all of Atlantic Canada, will use the funding — spread over five years — to assist companies in accelerating their growth with business development services and mentoring. It offers two program streams for early-stage start-ups and larger start-ups that have developed initial market traction and require entrepreneurial skills including sales and marketing. Earlier this year, Propel ICT partnered with mentoring firms Volta and Planet Hatch to deliver its services throughout the region. Propel ICT is one of 15 incubators and accelerators selected for CAIP funding (R$, June 26/14) with specific announcements rolled out in recent weeks. The program is delivered by the Industrial Research Assistance Program….