After a rigorous selection process, Propel (Western University’s Entrepreneurship Centre) has revealed their cohort of startups for their Summer Incubator program – PSI.
The program received a record number of applications from over 90 entrepreneurs across Southwestern Ontario. After a competitive process that involved a written application and in-person pitch, 11 startups comprising of 17 entrepreneurs, were accepted into the program.
This years PSI cohort includes: Aunt Mary’s Corp., Auto Realm, bCLUTCH, Blueprint Meals, Flare Software Inc., For the Love of Laundry, Hand 2 Hand Entertainment, Mood & Co., Qeue Games, Tidl Inc., and Wing Deals.
PSI is quickly establishing itself as a premier incubator program for the region’s most promising entrepreneurs. With a strong focus on sales and user acquisition, PSI provides $7,500 in seed funding to each founder, permanent desk space, business development interns and a series of sales-focused workshops over 16 weeks.
A group of experienced mentors from the London entrepreneurial community will work closely with each of the teams to assist with strategic decision-making and connections to industry.The program wraps up in mid-August with a ‘Demo Day’ that will provide the startups an opportunity to pitch to investors and other members of the local community.
“We hope to foster a collaborative culture, where startups pool their knowledge to overcome tough challenges and explore new opportunities,” said Ian Haase, Director of Propel. “PSI is a chance for our best and brightest startups to focus 100% of their energy during a critical time in their growth. We are surrounding them with all the tools and resources they need to succeed locally.”
Last year, the 2016 PSI Cohort consisted of 11 teams that achieved more than $750,000 in sales and reached over 1,200 customers in 101 countries.
Travis Mckenna, co-founder of Wirst & Rye and a participant in last year’s program, said the Propel Summer Incubator was one of the most enriching experiences for his business. “The PSI program has been the best thing for our company and personal entrepreneurial development to date. Working in an environment with other motivated, smart, creative individuals on similar paths is special in itself. When you add in the resources Propel offers, such as their staff, mentors, and affiliates, there is so much to gain from it all.”