WATERLOO, ON (Monday, Jan. 11, 2010) - The Accelerator Centre (AC), an award-winning centre for the cultivation of technology entrepreneurship located in Waterloo, Ontario is embarking on a search for a new CEO, following the announcement that Dr. Tom Corr will depart the AC to become President and Chief Executive Officer of Ontario Centres of Excellence Inc. (OCE).

As CEO of the Accelerator Centre at the Waterloo Research and Technology Park, and Associate Vice-President of Commercialization, University of Waterloo, Dr. Corr is recognized as one of Canada's foremost experts in bringing research to commercial success.

University of Waterloo President, David Johnston offered his congratulations to Dr. Corr on his appointment and thanked him for his contribution to the Accelerator Centre.

"We're pleased to see Tom embark upon this exciting new role. We know Tom will provide the same high-quality guidance and leadership to OCE that helped build the success of the Accelerator Centre," said Johnston.

University of Waterloo Vice-President of University Research, George Dixon, echoed his congratulations on Corr's appointment. 

Dr. Corr assumes the OCE leadership role on March 1, 2010. The search for an Accelerator Centre CEO replacement will begin immediately.  Ian McPhee, Accelerator Centre Chair, will become interim CEO upon Corr's departure, and the Accelerator Centre's Director of Operations, Tim Ellis, will be promoted to Chief Operating Officer (COO) effective March 1, 2010.

Tom Corr's career spans more than 30 years in the IT sector including positions as managing partner at Catalyst Partnership; founder and CEO of Momentum Systems; founder, CEO and president of Applied Development Corp., and president of Canadian Data Processing Corp. He has also taught in the MBA program at the University of Toronto and is an industry professor at McMaster University.

His education includes a doctor of business administration degree from Henley Management College/Brunel University in England, an MBA from the University of Toronto, and an advanced post -graduate degree in management consultancy from Henley Management College. Corr is also a graduate of the directors education program of the Institute of Corporate Directors and holds the ICD.D designation.

About the Accelerator Centre

The Accelerator Centre (AC) is a world-renowned, award-winning centre for the cultivation of technology entrepreneurship located in Waterloo, Ontario. Made possible through funding from Federal and Provincial Governments, Ontario Centres of Excellence, the Regional Municipality of Waterloo, the City of Waterloo and the University of Waterloo, along with industry and academic partners, the AC was established to accelerate the creation, growth, and maturation of sustainable new technology companies; to promote commercialization of research and technology rising out of academic institutions such as University of Waterloo, Wilfrid Laurier University, University of Guelph, and Conestoga College; and to generate economic benefit and enhance the strategic importance of Waterloo Region within Ontario and Canada's broader economy.

Aptly named, the Accelerator Centre is firmly focused on accelerating the growth and success of its client companies - fledgling start-ups from a variety of technology sectors. The Centre's team of advisors and mentors provide a unique range of support services and education programs, enabling AC clients to move to market faster, create jobs and stimulate economic activity. As home to 25+ technology start-up companies, with resident program staff of Ontario Centres of Excellence, National Research Council IRAP and Communitech - the Accelerator Centre has become the nexus for Waterloo's innovation community.  The Accelerator Centre along with the Ontario Centres of Excellence and the University of Waterloo technology transfer commercialization office (WatCo), are partners in the Accelerator for Commercialization Excellence (ACE) which works closely with other commercialization entities such as Communitech to provide seamless access to commercialization resources for start-ups, entrepreneurs, and investors in the Waterloo Region.

To learn more about the Accelerator Centre visit www.acceleratorcentre.com.

For further information, please contact:

George Dixon, Vice-President, University Research - University of Waterloo - Tel: (519) 888-4567, ext. 32531 - Cell: (519) 829-5658 - E-mail: dgdixon@uwaterloo.ca

Tim Ellis, Director, Operations - Accelerator Centre - Cell: (519) 500-7711 - E-mail: tellis@acceleratorcentre.com

 Janet L. Janes, Communications Officer, Office of Research - University of Waterloo - Tel: (519) 888-4567, ext. 36834 - E-mail: jjanes@uwaterloo.ca