Accelerator roundup: Ecofuel, InnoCité both unveil new cohorts

Both the Ecofuel Accelerator for cleantech startups and the InnoCité program for civic-minded ventures made announcements this week. Ecofuel announced its new Autumn 2016 cohort while InnoCité will hold its Mentor Day this Friday. The event will include a press conference to announce the program’s new cohort.

About 30 applicants applied for five spots in Ecofuel’s fourth and newest cohort, a four-month program. They’ll be advised and by about forty mentors experienced in cleantech, business, global markets and entrepreneurship. It will conclude in December.

The teams are:

AEPONYX, a Trois-Rivieres company which specializes in micro optical switch chips design and marketing for greener fiber optic access to the cloud.

ARDA Power, an Oakville company that uses its patent pending DC-DC converter and DC microgrid control technologies to deliver the first fully plug-and-play system for microgrids using renewable energy.

BioMatrix, a New Brunswick company which is actively commercializing NaquaPure, their first nanotechnology product that removes heavy metals from contaminated industrial waste-water.

Électrobac, a Montreal team known for its smart bin network, is an e-waste collection company specialized in small electronics.

Jaza Energy, a Halifax team that electrifies last mile communities using centralized solar energy hubs.

“The number, quality and diversity of applications we received during the selection process demonstrates entrepreneurs’ needs for the acceleration stage,” said Richard Cloutier, Ecofuel’s CEO. “We are particularly proud of the five businesses Ecofuel will accelerate in the coming months. The financial support is strategic, but what really makes a difference is our capacity to provide a personalized approach to meet our entrepreneurs’ needs. Our mentors take the time to discuss with every one of our entrepreneurs during the program.”

Ecofuel has also announced a new “Ecofuel Initiation Program” for newer, younger cleantech companies. Five startups will participate in this program before future acceleration.

“The progression of the entrepreneurs in the previous cohorts demonstrates that the program delivers results,” said Andrée-Lise Méthot, founder of Cycle Capital, Ecofuel’s parent company.

Meanwhile, InnoCité announced its Mentor Day in which its new cohort will be announced. More than 20 startups were shortlisted for interviews for about five eventual spots in the program that seeks out ventures that can improve cities.

The free event takes place this Friday at the Desjardins Lab at 175 Boulevard René-Lévesque. It will also be live-streamed.

Harout Chitilian, the Deputy Chairman of Montreal’s Executive Committee (IT, Smart City, Operational Excellence) and Jacques Bernier, the founder of Teralys Capital, will both be on hand to say a few words. All five teams will pitch their ideas to the crowd followed by lunch.

InnoCité is sponsored by the City of Montreal. Prior to its first cohort in 2015, 110 startups applied for the five spots. It doesn’t take any equity from startups, but it doesn’t promise investment to any either. Still, there is the possibility for teams to attract $50,000 in venture capital after they complete the program.

The program is backed financially and otherwise from several big-name sponsors, including Desjardins, GE, IBM, Quebecor, Real Ventures and more.

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