Innovacorp’s Accelerate Program helps entrepreneurs get investment ready and immigrate to Nova Scotia.
If you have a high potential start-up approaching investment readiness and want to move your business to Canada, we can help.
The Accelerate Program is now closed for submissions. The deadline for applications was Wednesday, September 11, 2019, at 11:59 pm ADT. (Note: This was a two-day extension due to the recent storm in Nova Scotia.) The program will run from October 1, 2019, to March 31, 2020. SUBMISSIONS WERE UPLOADED HERE.
Target sectors for this program include information technology, clean technology, life sciences and ocean technology. We’re especially interested in deep technology opportunities, which we define as technology based on a scientific discovery or new engineering innovation. However, we welcome submissions from any sector.
Shortlisted companies will be notified by September 19, 2019, and will be invited to present via Skype to the selection committee on September 20, 2019. We will work with applicants to accommodate schedules as much as possible.
Participants will receive $50,000 in non-dilutive, non-repayable funding to address key technical and business milestones. Funding will only be available to international applicants that move their business to Canada. We can help entrepreneurs immigrate to Nova Scotia under our Start-Up Visa Program. In addition to funding, companies will get access to a series of acceleration activities and resources. Participants should make every effort to take advantage of all the activities and resources offered.
International participants can partake in workshops and advisory sessions in person or remotely. In-person participants may need a visitor visa. For more information about obtaining a visa, visit the Immigration, Refugees and Citizenship Canada (IRCC) website.
Resources available remotely:
- Experts in Residence (EiRs) will be available monthly to provide one-on-one advice in four core business areas: product management, venture finance, strategy and governance, and human resources and culture.
- Monthly workshops with subject matter experts will cover a variety of business and technical topics. Topics will be tailored to the cohort participants’ industries and needs. Example subjects covered during previous cohorts included IP strategy, regulatory planning and investment readiness.
Resources available upon landing in Nova Scotia via Innovacorp's Start-Up Visa Program:
- Companies that receive a letter of support for Innovacorp’s Start-Up Visa Program and arrive in Nova Scotia by March 1, 2020, will be eligible to receive $50,000 in non-dilutive, non-repayable funding to address key technical and business milestones.
- Market intelligence through the MaRS Market Intelligence Services program will provide participants with information about their industry, competitors, market, potential investors and partners, and best practices. The MaRS team of analysts and information specialists have industry knowledge and access to top proprietary databases, reports and statistics.
- Co-working space in one of our world-class incubation facilities will ensure your team has access to the infrastructure it needs for six months after you arrive. Read more about our incubation facilities: The Labs at Innovacorp (formerly named Innovacorp Enterprise Centre), The Bays at Innovacorp (formerly named Technology Innovation Centre) and Start-Up Yard at COVE (Centre for Ocean Ventures and Entrepreneurship).
Get all the details about this remarkable offering in the ACCELERATE PROGRAM INFO KIT.
Location: International applicants must be registered and based in Nova Scotia by March 1, 2020.
Financing: Less than $1 million in cumulative sales; less than $250,000 equity investment raised to date
Stage: In addition to having identified a large market pain and market opportunity and having established a company around a customer-validated solution, competitive applicants will have conducted a thorough competitive analysis and achieved proof of concept. The stage of an applicant’s product development may vary depending on sector, however, competitive candidates are generally expected to have completed – or be well on their way to completing – a prototype or minimum viable product.
Sectors: Target industries include information technology, clean technology, life sciences and ocean technology. We’re especially interested in deep technology opportunities, which we define as technology based on a scientific discovery or new engineering innovation. However, we welcome submissions from any sector.
People: Founders and/or managers have industry knowledge, management experience and commitment to the venture
Market: Large, growing international market
Competition: High barrier to competitive entry
Execution: Credible plan to reach key milestones
Exclusions: Innovacorp investment portfolio companies are ineligible for this opportunity.
How to Apply
Innovacorp’s Accelerate Program is now closed for submissions. Entering was easy. Applicants were asked to simply complete the Microsoft Word APPLICATION FORM, answering the questions in the boxes provided, and then upload their submissions online by Wednesday September 11, 2019, by 11:59 pm ADT. (Note: This was a two-day extension due to the recent storm in Nova Scotia.) Please note that Innovacorp is unable to accommodate updates once summaries are submitted.
All applicants will be notified about the results by September 19, 2019. Shortlisted international applicants will be invited to present to the selection committee via Skype on September 20, 2019. We will work with applicants to accommodate schedules as much as possible.