SimplicityVMS awarded new Hyperdrive start-up fund based in Waterloo, Ont

There is magic happening in Waterloo, Ont. which boasts a technology revenue of more than $25 billion with interests ranging from software development, digital media, mobile and wireless, advanced manufacturing, robotics, aerospace and defense, clean and biotech, health, IT services and telecom[1].

Waterloo, Ont. is set to get another boost from a new $30-million program that will help fund, commercialize and mentor the next-generation of innovative entrepreneurs.

Hyperdrive, run out of Communitech is a regional hub that aids hundreds of tech start-ups that have sprung up around global giant Research In Motion Ltd. , the new Hyperdrive program offers up to $700,000 to individual companies – drawing on a pool of money funded by investment firms, venture capitalists and strategic partners[2].

SimplicityVMS, a growing software company out of Mississauga, Ont. has been chosen as 1 of 8 to participate in a tech start-up “boot camp” to provide participants with commercial space, strategic advice, mentorship and exposure to executives-in-residence and business analysts[2]. The company provides a SaaS, cloud based technology platform that automates and centralizes the end-to-end process of hiring, engaging and administering the contingent workforce. The system functions across all departments through the entire enterprise.

“Simplicity VMS is an innovative company with an outstanding product providing value to an underserved market.” Said SimplicityVMS’ CEO Gerry Bleau. “evidence of this is our recent acceptance into Communitech’s Hyperdrive program where were 1 of only 8 companies out of 118 applications who were accepted into the program.” SimplicityVMS is very excited to pursue this new opportunity and will surely continue to grow their business.

[1] Platz, K. (2012, June 18). Retrieved July 13, 2012, from IT Business: http://blogs.itbusiness.ca/2012/06/ingredients-in-waterloo-regions-secret-sauce/

[2] Marlow, I. (2012, April 10). Waterloo’s Communitech pitches new ‘Hyperdrive’ start-up fund.Retrieved July 12, 2012, from http://www.theglobeandmail.com: http://www.theglobeandmail.com/technology/tech-news/waterloos-communitech-pitches-new-hyperdrive-start-up-fund/article4099144/

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