If you have a high potential start-up approaching investment readiness, we can help.
*If you’re outside Canada and interested in the program, click here for international applicant information.
The Accelerate Program is now closed for submissions. The deadline for applications was Tuesday, September 8, 2020, by 11:59 pm ADT. The program will run from October 1, 2020, to March 31, 2021.
About Accelerate Program
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.
Participants will receive $50,000 in non-dilutive, non-repayable funding per company to address key technical and business milestones. Up to eight awards are available.
In addition to funding, companies will get access to a series of acceleration activities and resources from October 2020 to March 2021. Resources will be tailored to the cohort to provide support where participants need it most. Participants should make every effort to take advantage of all the activities and resources offered, which will include:
- Experts in Residence (EiRs) available monthly to provide one-on-one advice in core business areas such as venture finance, enterprise sales and human resources and culture.
- Entrepreneurs in Residence with real founder experience available for regular check-ins and strategy discussions to provide coaching through this critical stage of growth.
- 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. For example, subjects covered during previous cohorts included IP strategy, regulatory planning for life science companies, mock term sheet negotiations, and more.
- 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.
- Meeting space will be available to program participants to host clients, customers and investors in a physically distanced manner at Innovacorp’s world-class incubation facilities. Meeting rooms are available to be booked on a first-come-first-serve basis and all visitors must adhere to Nova Scotia public health guidelines. 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).
Applicants must be a registered start-up based in Nova Scotia.* Details on how to register with Nova Scotia Registry of Joint Stock Companies (RJSC) are available from Service Nova Scotia.
Location: Nova Scotia-based **
Financing: Less than $1 million in cumulative sales; less than $250,000 equity investment (including convertible debt) 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
** If you’re outside Canada and interested in the program, click here for the international applicant information.
How to Apply
Innovacorp’s Accelerate Program is now closed for submissions. Entrants were asked to complete the Microsoft Word APPLICATION FORM, answering the questions in the boxes provided, and then upload their applications online.
Please note that Innovacorp is unable to accommodate updates once summaries are submitted.