The J. Herbert Smith Centre for Technology Management & Entrepreneurship at the University of New Brunswick has recruited a new executive who brings additional might to its efforts to propel new startups.
Prior to his appointment as managing director, accelerator programs, Joe Allen served as director of investments for the New Brunswick Innovation Foundation.
“I couldn’t be more thrilled to have Joe join our team. He brings a wealth of connections in the venture capital community, integral experience in working with startups and a diverse background in economic development,” says Dhirendra Shukla, chair of the J. Herbert Centre for Technology Management and Entrepreneurship.
Mr. Allen will assume overall responsibility for accelerator efforts at the centre, including its highly successful Summer Institute and its burgeoning Energia Ventures accelerator for startups in the clean energy, cybersecurity and smart grid sectors.
“I’m very excited to be at the University of New Brunswick. What UNB is doing within the startup ecosystem is miles ahead of everyone else,” says Mr. Allen. “I’m particularly proud to be involved in the accelerator space with the J. Herbert Smith Centre and its tremendous Technology Management & Entrepreneurship programs – the leadership and innovation here is just incredible.”
UNB is recognized nationally as the most entrepreneurial university in the county by Startup Canada, which also recently saluted Dr. Shukla with its Entrepreneur Promotion Award for Atlantic Canada.
Over the last five years, more than 70 startups have emerged from the centre.
Energia Ventures – launched last December with a successful first cohort that includes Stash Energy, Beauceron Security, Mbissa Energy Systems and Trispectra Innovation – will be accepting applications in January for its second round.
The Summer Institute is a three-month long accelerator that helps bring business ideas to life through education, resources, and mentorship – a program designed to propel ideas into businesses by empowering fledgling founders with entrepreneurial know-how.
Mr. Allen, who began the job this month, sees his role as polishing already successful accelerators by taking them to the next level and in building more connections to the venture capital community.
In his previous post with the New Brunswick Innovation Foundation, Mr. Allen was responsible for managing a portfolio of about 50 venture capital investments with a market capitalization of $60 million across multiple sectors.
A 2002 graduate of UNB’s Bachelor of Business Administration program, Mr. Allen is a chartered accountant who has worked in economic development arena in New Brunswick for a number of years and serves as a corporate director for a number of startup ventures.
Media contact: David Stonehouse