Canadian technology companies will vie for a spot in one of the fastest growing tech hubs in the U.S. in a new competition Innovacorp launched today.
Innovacorp, Nova Scotia's early stage venture capital organization, is offering technology entrepreneurs the chance to spend up to six months at tech and venture firm Disruption Corporation’s headquarters outside Washington, D.C., and $10,000 cash towards travel and living expenses.
We want high-growth Canadian tech companies to tell us what this opportunity could mean to their future if given the chance," said Dawn Umlah, investment manager at Innovacorp. "What the winning start-up will get is behind-the-scenes, concentrated access to potential new customers, investors and partners. If your company has a fully-built product, is generating revenue and has the grit to make things happen, we want to hear from you.”
The winning company will send at least one senior member and a business development person for 90-180 days in Disruption’s award-winning 27,000 sq ft workspace. The surrounding area boasts one of the most educated workforces in the U.S., with potential for the company to recruit the talent it needs to expand into new markets.
The winning company will also be in close proximity to billions of risk capital dollars in D.C. and the surrounding area. What’s more, investors are regularly on site at Disruption and most are already co-investors in many of Disruption’s portfolio companies.
The competition stems from Innovacorp’s recently announced partnership with Disruption.
"A lot of people outside Canada don’t really know how much good stuff there is up there," said Paul Singh, founder of Disruption and former partner at 500Startups in Silicon Valley. "In the U.S., it’s not crazy for somebody to come over and say, ‘Here’s what we’re doing and we’re going to make a billion dollars.’ Nine times out of 10 you know that’s total BS. But the ambition is there. I have a feeling that same ambition exists within Canadian entrepreneurs and this competition is our way of finding it, and giving those founders an environment to make it happen.
Eligible companies must be backed by a reputable venture capital organization, such as Innovacorp, and have a minimum of 12 months’ runway.
To apply, eligible companies must complete this short submission form.
The deadline for submissions is March 26, 2015. (Please note this deadline is a slight extension from the original.)
For more information, contact:
Halifax, Nova Scotia - Washington, D.C. - February 18, 2015