OTTAWA – November 17, 2016 – Invest Ottawa is excited to announce that resident company ChangeJar will be joining the Silicon Valley accelerator 500 Startups as part of the batch 19. Every year, over 5,000 startups around the world apply for approximately 200 spots in the 500 Startups accelerator program, founded by Dave McClure and Christine Tsai, which results in an acceptance rate of less than 4%.
ChangeJar is driving retail cash payments by making them mobile: as fast and convenient as credit or debit – but without the transaction fees. With the ChangeJar app on their phone, consumers can accumulate the value of change from physical cash transactions and then use it for mobile payment, tipping and social giving.
“ChangeJar has progressed to inclusion in the 500 Startups accelerator program in Silicon Valley and a new round of angel financing thanks in part to the the vital support we have received at Invest Ottawa,”said Tom Camps, founder and CEO of ChangeJar. “Today’s news recognizes the exciting potential of ChangeJar’s mobile cash payment platform as we move ahead with our expansion across Canada and into the US in the coming months.”
Invest Ottawa currently works with over 200 companies and has over 25 startups located in-house, like ChangeJar. Invest Ottawa helps startups thrive by providing services such as co-working space, mentorship, workshops and seminars, market intelligence, and more. Another portfolio client, GymTrack, also participated in the Silicon Valley accelerator in 2014 as part of Batch 10 of 500 Startups, thus making ChangeJar the second Invest Ottawa company to make their way south for the prestigious 4-month program.
“We are incredibly excited that another portfolio company is joining the 500 Startups family. Since joining Invest Ottawa almost two years ago, the ChangeJar team has grown from just an idea to becoming one of Canada’s leading fintech companies. We look forward to working with them on scaling their venture to the next level,” said Jonathan Milne, Managing Director of Innovation at Invest Ottawa.
Learn more about ChangeJar’s #OttawaINC success story: http://investottawa.ca/ottawainc-changejar/
About Invest Ottawa:
Invest Ottawa delivers economic development programs and initiatives that increase entrepreneurial momentum, wealth and jobs in the City of Ottawa and its surrounding region. Its goal is to make Ottawa the most innovative City in Canada. Invest Ottawa services include start-up incubation and mentorship, acceleration for existing companies, global business attraction and local business retention, targeted sector development, commercialization, and marketing Ottawa’s diversified economy and high quality of life. www.investottawa.ca
Public Relations Strategist