WATERLOO REGION, Ontario--(BUSINESS WIRE)--Communitech is pleased to announce the winners of the Demo Day Pitch Competition Wednesday. The top two winning founders were awarded a portion of the $100,000 dollar prize, with TritonWear named top winner of $60,000 dollars, and Ssimwave in second place with $40,000 dollars.
Communitech Demo Day brought together Waterloo Region’s highest-potential tech companies to pitch on stage to a panel of expert judges, including Techstars' David Brown, Janet Bannister of Real Ventures, Roger Chabra of Rho Canada Ventures, and Jamie Rosenblatt of Golden Venture Partners.
Six startups who graduated from the Communitech Rev Sales Accelerator pitched their companies. Cloudhawk, P&P Optica, Staffy, Sprout Studio, Ssimwave, and TritonWear have been working to create an automated, repeated and scalable sales model, and are on their way to $25 million annual recurring revenue.
“The caliber of the companies that pitched, while early stage, are up there with the rest of them we see all over the world, if not stronger,” said David Brown, founder and co-CEO, Techstars. “We’ve been talking about coming to Canada for a long time, specifically Toronto-Waterloo. The companies are smart, accomplished, and in some cases very advanced.”
The audience of industry experts and venture capitalists also heard from up-and-coming startups in the Communitech Fierce Founders Accelerator, focused on women-led companies. BridesMade, Binary Tattoo, Borealis Wind, and Squiggle Park graduated from the accelerator in March 2017, after receiving up to $30,000 in funding, six-months residency at the Communitech Hub, and mentoring and business support from Communitech’s Executives in Residence team.
“It’s important for us to bring together the best and the brightest companies in the Waterloo Region ecosystem,” said Steve McCartney, VP, Strategic Growth Team, Communitech. “Not only to help accelerate their success locally, but to help put them on the map globally.”
Communitech Demo Day is sponsored by BDC, Deloitte, the Federal Economic Development Agency for Southern Ontario (FedDev) and Google Developers. For more information on the Communitech Rev Sales Accelerator or the Communitech Fierce Founders Accelerator please visit www.communitech.ca.
Communitech is a private-public innovation centre in Waterloo Region that supports a community ecosystem of more than 1,000 tech companies—from startups to rapidly growing mid-size companies and large global players. A member of the Ontario Network of Entrepreneurs, which is funded by the Ontario Government, Communitech helps tech companies start, grow and succeed.