First youth summer incubation program launched

Peterborough’s first summer incubation program, Slingshot, has been launched for young entrepreneurs between the ages of 18 and 29.

The program, a partnership between The Innovation Cluster and FastStart Peterborough, is the first of its kind in Peterborough and the Kawarthas, organizers said.

It will provide six high-potential young entrepreneurs with the opportunity of a lifetime. The six successful applicants will receive co-working space in the new downtown Cube, tools, resources and funding opportunities to grow their business – a value of $5,000 for four months.

Organizers noted how the cluster’s programming has become known for catapulting startups to realization with recent success stories such as NobleGen Inc., Chimp Treats and Lab Improvements. These three companies all share the common denominator of having founders under the age of 29.

“We recognize the talent that is exploding out of Peterborough’s two post secondary institutions, Trent University and Fleming College,” stated Rose Terry, who will lead the new Slingshot program. “We are hoping to retain talent with this groundbreaking new program.”

Although the cluster focuses on innovation and technology startups, the new program will allow applications in the goods and services stream who could benefit from incubation space as well.

Applicants must be between the ages of 18 and 29, planning to start their company in Peterborough and the Kawarthas and have an idea for a company or have been operational for under one year.

Applicants outside of the region are encouraged to apply if they intend on making the move to Peterborough.

At the end of the summer, the most successful company will receive a $1,000 cash prize along with other prizes. The application deadline is April 24 at midnight and successful applicants will move into The Cube to begin working on their company on May 1.

NOTE: To apply visit www.innovationcluster.ca/slingshot/.