WATERLOO, ON | [November 10, 2026] – The Accelerator Centre (AC) today announced the launch of AC:Backed, a new direct investment initiative designed to help promising Canadian technology companies access early-stage capital. As part of the launch, the AC announced its intention to invest $50,000 in Waterloo-based ArcticEdge Technologies, comprising $25,000 in cash and $25,000 in in-kind support through AC programming. The announcement was made during the AC Innovation Showcase, which highlighted the technology innovations of approximately 40 emerging technology companies from across the Accelerator Centre’s programs, alongside investors, partners, and members of the broader innovation community.
Helping founders access capital has long been a strategic priority for the Accelerator Centre. Through investment readiness programming, mentorship, and connections to investors, the AC has supported early-stage companies as they prepare to raise capital and grow their businesses. With AC:Backed, the organization is taking the next step, moving beyond connecting founders with investors to becoming an active investor itself.
“Access to early-stage capital remains one of the biggest challenges facing Canadian technology founders,” said Ruth Casselman, CEO of the Accelerator Centre. “We’ve spent years helping companies become investment-ready and building relationships with the investment community. Through AC:Backed, we’re taking that commitment further by investing directly in promising Canadian companies.”
AC:Backed allows the Accelerator Centre to reinvest a portion of its earned revenue into early-stage technology companies, putting resources generated through its operations back to work advancing its mission.
Investment decisions are made by an external Investment Committee that supports the AC’s Board of Directors, bringing investment expertise and a disciplined approach to evaluating opportunities.
AC:Backed is a strategic direct investment initiative, not a venture capital fund. Future investments will be considered based on available resources, strategic alignment, and individual investment opportunities.
Backing technology with a personal mission
The first company to receive an AC:Backed investment, ArcticEdge Technologies, is developing innovative PFAS-free textiles designed to make protective clothing safer for firefighters, public safety officers, and other frontline workers.
For co-founder Drew Davidson, the company’s mission is personal. His mother spent her career as a firefighter in Cambridge, Ontario. Growing concerns about cancer risks among firefighters, including exposure to harmful chemicals in protective equipment, inspired Drew to explore how his background in nanotechnology and chemical engineering could contribute to a solution.
PFAS, commonly known as “forever chemicals,” have traditionally been used in protective textiles for their water-resistant properties. Certain PFAS have been linked to serious health and environmental concerns, including cancer, creating growing demand for safer alternatives that maintain the performance required in demanding environments.
Drew partnered with fellow University of Waterloo alumnus, Kade Truman, to develop and commercialize ArcticEdge’s patented, breathable, and waterproof textile technology. While the company’s initial focus is on firefighting equipment, the technology has potential applications across industrial protective clothing, military and outdoor equipment, and performance apparel.
“For early-stage companies like ArcticEdge, funding is the bridge between validating an idea and actually bringing it to market,” said Drew Davidson, Co-Founder of ArcticEdge Technologies. “The Accelerator Centre has been part of our journey through AC:Studio, and this investment through AC:Backed will help us take that critical next step forward.”
ArcticEdge participated in the Accelerator Centre’s AC:Studio program, which supports early-stage, impact-driven technology companies as they develop and commercialize innovative solutions.
The investment represents a continuation of the AC’s support for the company, from early-stage programming and mentorship to direct investment in its next phase of growth.
“ArcticEdge is a great example of the kind of company we are thrilled to support through AC:Backed,” said Ruth Casselman, CEO of the Accelerator Centre. “Drew and Kade are tackling a real problem with innovative Canadian technology and a strong personal commitment to making a difference. We’re proud to have supported them through AC:Backed, and we’re excited to take that relationship further with a planned $50,000 investment, including $25,000 in direct funding and $25,000 in continued programming and support.”
“AC:Backed is an exciting next step in the Accelerator Centre’s evolution and a reflection of our commitment to finding new ways to support Canadian founders,” said Shann McGrail, Chair of the Accelerator Centre’s Board of Directors. “By reinvesting into promising Canadian companies, we’re building on the AC’s strong foundation and creating new opportunities to help innovative businesses grow. We’re proud to support this next chapter and excited to see the impact it can have on Canada’s innovation ecosystem.”
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About the Accelerator Centre
The Accelerator Centre is a leading Canadian startup accelerator based in Waterloo, Ontario. Through its programs, mentorship, industry connections and investment readiness support, the AC helps technology founders build, grow and scale successful companies. Working with entrepreneurs across a range of sectors and stages, the AC is committed to strengthening Canada’s innovation economy and helping ambitious founders turn promising technologies into successful businesses.
Learn more at www.acceleratorcentre.com.
About ArcticEdge Technologies
ArcticEdge Technologies is a Waterloo-based advanced materials company developing patented, PFAS-free textile technology for protective clothing and performance applications. Founded by University of Waterloo alumni Drew Davidson and Kade Truman, the company is focused on creating breathable, waterproof materials that deliver high performance without relying on forever chemicals. ArcticEdge participated in Cohort 2 of the Accelerator Centre’s AC program and is the first company to receive an investment through AC. Learn more at www.arcticedgetech.com.
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AC:Backed FAQ
What is AC:Backed?
AC:Backed is a direct investment initiative of the Accelerator Centre designed to help promising Canadian technology companies access early-stage capital. It builds on our longstanding commitment to supporting founders through mentorship, investment readiness programming, and connections to investors.
Through AC:Backed, we’re taking that commitment further by investing directly in companies with strong potential for growth and impact.
Why has the Accelerator Centre started investing directly in startups?
Access to early-stage capital remains one of the biggest challenges facing Canadian technology founders. For years, the AC has helped companies prepare for investment and connect with the investment community.
AC:Backed gives us another way to support founders by becoming an active investor ourselves. It’s a natural extension of our mission and our work to strengthen Canada’s startup ecosystem.
Is AC:Backed a venture capital fund?
No. AC:Backed is a direct investment initiative of the Accelerator Centre, not a separately managed venture capital fund.
Investments are considered individually, based on available organizational resources, strategic alignment, and investment opportunities.
Where does the investment capital come from?
AC:Backed allows the Accelerator Centre to reinvest resources generated through its operations directly into promising Canadian technology companies.
This approach puts the AC’s organizational resources back to work advancing our mission of helping founders build and grow successful businesses.
Who decides which companies receive an investment?
Investment decisions are made by an external Investment Committee that supports the Accelerator Centre’s Board of Directors.
The committee brings external investment expertise and a disciplined approach to evaluating opportunities, helping ensure investments align with the AC’s strategic priorities.
How does AC:Backed fit with the Accelerator Centre’s existing programs?
AC:Backed complements our existing programs and services, including mentorship, investment readiness support and investor connections.
Our programs help founders develop their businesses and prepare for growth. AC adds another potential source of early-stage capital for companies that align with our investment priorities.
Can my company apply for AC:Backed funding?
AC:Backed is not an open application-based funding program.
Investment opportunities are considered at the Accelerator Centre’s discretion. Founders interested in accessing capital are encouraged to explore the AC’s programs and investment readiness resources, which can help them prepare for investment and connect with potential investors.
Does a company need to participate in an AC program to receive an investment?
Participation in an Accelerator Centre program does not guarantee an AC:Backed investment, but, yes, a company does need to actively participate in an AC program in order to be considered. Investment decisions are made independently by the external Investment Committee based on various merits of individual opportunities.
How much does AC:Backed invest in a company?
AC:Backed does not operate as a traditional investment fund with a published funding range. Investment amounts are determined on a case-by-case basis, considering the economic and social impact of the company, the investment opportunity, and the AC’s available resources.
Will the AC make additional investments?
The Accelerator Centre intends to consider future investment opportunities as resources permit.
AC:Backed is an ongoing initiative, but investments are not guaranteed or made according to a fixed schedule. Each opportunity is considered individually, based on available resources, strategic priorities, and investment potential.
What was the first AC:Backed investment?
The first AC:Backed investment was made in ArcticEdge Technologies, a Waterloo-based advanced materials company developing PFAS-free textiles for protective clothing and performance applications.
ArcticEdge participated in Cohort 2 of the Accelerator Centre’s AC:Studio program. The investment represents a continuation of the AC’s support for the company, from early-stage programming and mentorship to direct investment in its growth.
How can I learn more about AC:Backed?
To learn more about AC:Backed or the Accelerator Centre’s investment readiness programming, please contact our team through the Accelerator Centre website at www.acceleratorcentre.com.
