THUNDER BAY - Five local startups received a helping hand this summer from a mentorship program that aims to give innovators the tools needed to succeed.
The Northwestern Ontario Innovation Centre wrapped up its Costarter Accelerator Program on Wednesday.
Five new companies completed the program that provides a $15,000 investment, mentorship, office space, and hands-on support.
The companies participating the Costarter program this year included Microbiate, Hail Cosmetics, Intrideo, Ski-Lines, and Brainshift.
“By working with the industry mentors and the Innovation Centre staff, they really get the education and mentorship that they need,” explained Jaquelyn Holm, market strategist with the Northwestern Ontario Innovation Centre.
“There is also an investment associated with the program so they get the funds that are necessary to take the leap into full time business.”
The program is in its second year and Holm said that all companies that participated last year are still operating today.
“We are looking for companies that have the potential to be scalable, so not just businesses that operate in Thunder Bay but ones that will really grow and have an impact on the community,” Holm said. “Also businesses that are doing something new or different and innovative in nature.”
Amber Kivisto, president of Microbiate, said the Costarter program has been invaluable to starting her business.
“It has been amazing,” she said. “They have been so much help. There is a financial aspect to it, but even better than that, they have provided a lot of assistance, a lot of mentoring, and it’s been invaluable. We wouldn’t be anywhere close to this point without them.”
Microbiate is a green and natural oil spill product that, as Kivisto described, eats oil by breaking down hydrocarbons into natural and safe compounds in the ground.
Similar products are available in the U.S., but Kivisto and chief scientific officer, Miranda Lock, wanted to put their biology degrees to work and create a product specific for Northwestern Ontario.
“This one is derived for Northwestern Ontario and it is able to survive the climate and it will survive over the winter using natural microbes,” Kivisto said.
“We have previous experience with oil spills,” Kivisto continued.
“It is something that happens commonly in the bush, especially considering that we are forestry, construction, and mining based and it’s an inevitable problem and we would like to be able to solve it and help the environment and help Northwestern Ontario as well.”
