propel ICT is a private, non-profit, Information and Communications Technology (ICT) association focused on growing the ICT sector in our region. Find out more about propel ICT >.

 

The propel Accelerator — An Executive Overview.
propel’s long-term goal is to make New Brunswick an entrepreneurial high technology ‘centrepiece’. A key element needed to reach this goal is a hands-on accelerator/incubator to make it easier for entrepreneurs to launch technology businesses, and more likely that they will grow and thrive. An accelerator is a support system that gives start-ups guidance and mentoring, access to low-cost resources such as equipment, office space, communications and support services, and, most importantly, membership in a business network that can be used to build partnerships or find new markets.

 

Experience with accelerators elsewhere has shown that they are effective; the average success rate rises from 40% without such a program to 80% with one. As of 2006, North America has 1,400 incubators/accelerators, 120 of which are in Canada.  87% of companies succeed after leaving an accelerator and 84% of accelerated companies stay in their communities after graduation. The average ‘time to graduation’ is 2.5 years, and the average replenishment rate is 30% per year after the first two years.

 

An accelerator that focuses specifically on ICT in New Brunswick is vital to this region’s future growth and prosperity.

 

The ICT Landscape in New Brunswick
The success of the propel Accelerator depends on collaboration and cooperation within the ICT community. The ICT community is an ‘ecosystem’, part of a landscape in which there is an interdependence between elements and members. ICT stakeholders must work together in a united effort to promote economic growth within this ecosystem. The following table outlines the preliminary network of interdependent elements that make up the ecosystem.

 

Key Element	Description
Public sector	Outreach programs
Alumni	Universities, NB Community College, and private Colleges
Education	UNBSJ, K-12, and NB Community College
Entrepreneurship	Entrepreneurship studies and supports
R&D	NRC, universities, E-Health, and private companies
Leaders	Distinguished leaders within and outside the community
Legal	Intellectual property issues and management agreements
Associations	Other industry associations – CIPS
ICT infrastructure	Network infrastructure, broadband.
Accounting	Expertise in start-ups and the software industry
Immigrants	New entrepreneurs and a skilled workforce
Intl. Marketing	Link to an internationally recognized program
Partners	Business development and strategic partners
Mentors	Key mentors in the community
Ecosystem master	An overseer to identify and address high-level issues within the ecosystem
ICT profile	Database maintenance and profiling

 

Within the ICT sector, a strong cluster of companies exists in New Brunswick. It evolved from strong historical roots (for example, NBTel and its spin-off companies). The cluster has survived and grown – its members are based in New Brunswick but do business all over the world. These companies have prospered because of alliances and informal marketing relations that have allowed mentoring, sharing of facilities, access to new markets, and other synergies. In effect, this cluster is already a “mini accelerator”, and we have an opportunity to build on its success.