Top Tech Leaders Appointed Head Coaches for Communitech's HYPERDRIVE Program

Ted Hastings & Steven Woods to Lead Mentor Network for Startups

WATERLOO, ON, June 1, 2012 /PRNewswire/ - It's game on for HYPERDRIVE as entrepreneurs Ted Hastings and Steven Woods partner as Communitech HYPERDRIVE advisors. Hastings, a serial entrepreneur in online publishing, and Woods, Engineering Director for Google in Canada, are set to take on and share the pivotal role of overall business advisors to companies participating in Communitech's new $30-million-plus tech incubator program.

"It is our honour to welcome Ted and Steve to the team as they are both great ambassadors of what hard work and an entrepreneurial spirit can achieve," said Iain Klugman, CEO of Communitech. "Their combined track records as successful serial entrepreneurs make them valuable assets and skilled thought leaders equipped to take HYPERDRIVE tech start-ups to the top of their game."

Hastings, an accomplished 38 year-old businessman and scholar, who was named to Canada's prestigious "Top 40 Under 40" list, is an indispensable resource.

Woods, a 12-time patent holder and the co-founding mastermind behind Quack.com, a popular voice portal platform developed in 1998, is sure to make an impact with his wide range of entrepreneurial experience.

"They've got the industry experience, they've built many companies and have the international business savvy to be able to advise and coach the companies in a number of areas," said Steve Currie, VP of Venture Services at Communitech. "They can absolutely relate to what all the companies in HYPERDRIVE are going through, and bring real-time examples to the table."

Michael Litt, CEO and co-founder of VidYard, and a Y Combinator graduate, had this to say about Woods' new mentoring role and partnership with Hastings: "I think he's done wonderful things for Google Canada, and he'll do wonderful things for HYPERDRIVE as a coach. The two together are a really good team, because Ted will have an in-depth financial knowledge and operational knowledge, and Steve will have the product and technology knowledge."

Both visionaries are well acquainted with the available tech talent and opportunity in the Waterloo area, having spent their academic careers in the region's post secondary institutions. Hastings earned his business administration degree from Wilfrid Laurier University and Woods attained his PhD and Masters in Math from the David R. Cheriton School of Computer Science at the University of Waterloo and currently operates out of Google's Kitchener-Waterloo office.

"I think it speaks volumes to the calibre of the program that has been assembled," said Klugman. "Ted is a master deal-maker who knows how to raise money and make money; Steve is a renowned technical dude as well as being a serial entrepreneur."

About Communitech

Communitech is located in Waterloo Region, 110 kilometres (66 miles) west of Toronto, Ontario, Canada in an area that includes the cities of Kitchener and Waterloo. Founded by a group of dedicated entrepreneurs in 1997, Communitech is the regional hub for the commercialization of innovative technologies supporting and building a Southwestern Ontario tech cluster of more than 800 companies that now generates more than $25B in revenue. A member of the Ontario Network of Excellence, which is funded by the Ontario government, Communitech supports tech companies at all stages of their growth and development - from startup companies, to rapidly growing SMEs, to large global players - to create greater numbers of successful global businesses for Ontario and for Canada.

About Communitech HYPERDRIVE

Communitech HYPERDRIVE http://www.communitech.ca/hyperdrive/ is a startup incubator that will provide enhanced mentorship and other life cycle services to early stage tech companies. The goal of the program is to maximize the ability of these companies to commercialize innovations and prepare the companies for investment opportunities. The program will also enable 'soft landings' for experience in foreign markets, and higher visibility for investment sources and business connections.

SOURCE Communitech Ltd.