Execution Labs Raises $6 Million to Fuel Growth of More Independent Game Studios

Montreal, Canada – November 10, 2014 – Today, game accelerator and investment platform Execution Labs (XL) announced that it has secured a CAD $6 million Series A funding round to bolster its support of emerging independent game studios. The round was led by Toronto-based Corus Entertainment Inc. (TSX: CJR.B), one of Canada’s leading media companies. Existing investors BDC Capital, Real Ventures and White Star Capital also participated in the round.

As the lead investor, Corus will help Execution Labs build its brand presence in the market, and Scott Dyer, Executive Vice President of Strategic Planning and Chief Technology Officer of Corus Entertainment, will join its board.

With this increased funding commitment, Execution Labs will expand its existing services by offering independent game developers two distinct programs: the Pre-Production Accelerator and the Finishing Fund.

The three-month Pre-Production Accelerator is based in Montreal and will build on Execution Labs’ current program by offering up to CAD $50,000 in funding, shared workspace and extensive mentorship opportunities for promising new game studios that have not yet entered the full production phase of game development. This program is open to international applicants and has expanded its scope beyond mobile to accept applications from developers across all game platforms and business models.

The Finishing Fund will provide substantial funding for experienced independent game studios anywhere in the world with games nearing completion, but that require funds and support for final production, testing and marketing. Finishing Fund teams will receive support both from Execution Labs’ extensive mentor network and from its in-house experts. This assistance ranges from game design and data analysis to community building and user experience testing.

“The goal of Execution Labs has always been to foster the development of independent game studios, and with the support of our incredibly generous mentor network we’ve been able to help talented developers launch great games and then go on to set up sustainable studios. With the injection of funds from Corus and our existing partners, we’ll be able to keep fueling those new studios while ensuring that the top developers out there continue to get the funding and support they need to launch amazing new games,” said Jason Della Rocca, Execution Labs’ co-founder.

Said Scott Dyer, “We look forward to combining Corus’ expertise in brand building with Execution Labs’ talent for identifying and fostering game developers to create exciting and innovative new intellectual property for the gaming industry.”

“We are implementing a strategy of supporting innovation clusters where Canada is a global leader, such as in video game production,” added Dominique Belanger, Vice President Strategic Investments and Partnerships, BDC Capital. “Our continued support of Execution Labs is one example of such a strategy. Execution Labs is an innovative business creation model that leverages the exceptional expertise developed in Montreal over the past decades.”

Studios interested in the Pre-Production Accelerator or the Finishing Fund should apply through the Execution Labs website. Media inquiries can be directed to press@executionlabs.com.

 

About Execution Labs

Execution Labs is a first-of-its kind accelerator and investment platform for independent game developers. Our goal is to back the very best game studios in the world through mentorship, financing, and a collaborative community. We’re based in Montreal with a business outpost in San Francisco and are backed by Corus Entertainment, BDC Venture Capital, Real Ventures, and White Star Capital.

About Corus Entertainment Inc.

Corus Entertainment Inc. is a Canadian-based media and entertainment company that creates, broadcasts and licenses content across a variety of platforms for audiences around the world. The Company’s portfolio of multimedia offerings encompasses specialty television and radio with additional assets in pay television, television broadcasting, children’s book publishing, children’s animation and animation software. Corus’ brands include YTV, TELETOON, ABC Spark, W Network, OWN: Oprah Winfrey Network (Canada), HBO Canada, Historia and Séries+, as well as Nelvana, Kids Can Press, Toon Boom and 39 radio stations including CKNW AM 980, 99.3 The FOX, Country 105, 630 CHED, Fresh FM London, JUMP! 106.9, Q107 and 102.1 the Edge. A publicly traded company, Corus is listed on the Toronto Stock Exchange (CJR.B). Experience Corus on the web at corusent.com

About BDC Capital

A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term.

From venture capital to equity to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.

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