Tuesday, March 25, 2014
PiinPoint,
a
location
analytics
company,
co-founded by
Jim
Robeson,
a
graduate
of
Waterloo
Engineering's
Master
in
Business,
Entrepreneurship
and
Technology
program,
and
Adam
Saunders,
a
current
Waterloo
Environment
student, is the
latest
company
from
University
of
Waterloo
incubator
VeloCity,
to
participate
in
the
prestigious Y
Combinator
accelerator
program
in
Silicon
Valley.
The
startup
was
one
of
four
$25,000
winners
at
the
VeloCity
Fund
Finals
in
Robeson and Saunders set up offices at VeloCity in Kitchener, Ontario in January, and moved to Mountain View, California soon after to participate in Y Combinator. They plan to return to VeloCity in April.
PiinPoint is the seventh company from Velocity to participate in the Silicon Valley-based accelerator to rapidly develop their business.
Michael Arrington, editor of the popular TechCrunch website, said that Y Combinator “captures the essence of Silicon Valley”. Twice a year, Y Combinator invests in startup companies that move to Silicon Valley for three months where Y Combinator partners help participants prepare their companies and refine their pitches to investors.
Each cycle culminates in Demo Day, when the startups present their business plans to an investor audience. PiinPoint is set to pitch at the Y Combinator Demo Day on March 25.