Accelerate Fund
The Accelerate Fund III is open to Alberta-based tech startups that are in the early stages of growth and are not yet ready for a venture capital round. To be eligible, these startups must be private, incorporated, and have their head office and more than 50% of their employees located in Alberta. The fund specifically targets industries in information and communications technology, energy technology, life sciences, agriculture, and biotech sectors.
Overview
If you’re a technology startup seeking early-stage capital for growth, but not yet venture-capital-round ready, you could get funds to match those of an angel investor, as a first step in preparing for your launch. You can also get support in the form of
At a glance
Funding available
- Improve governance or administrative structure
- Develop strategic partnerships
- Start a business
- Maximum amount : 250,000 $
Eligible candidates
- All industries
- Alberta
- For-profit business
- All revenue ranges
- All organization sizes
- All groups
Next Steps
Activities funded
The Accelerate Fund supports Alberta-based technology startups seeking early-stage growth financing. It focuses on projects within the tech industry, especially those demonstrating proven product demand and early growth potential.
- Funding for information and communications technology projects.
- Investment in energy technology startups.
- Support for life sciences companies.
- Financing projects in the agriculture sector.
- Backing for biotech enterprises.
Official resources
Eligibility
Who is eligible?
The Accelerate Fund III is open to Alberta-based tech startups that are in the early stages of growth and are not yet ready for a venture capital round. To be eligible, these startups must be private, incorporated, and have their head office and more than 50% of their employees located in Alberta. The fund specifically targets industries in information and communications technology, energy technology, life sciences, agriculture, and biotech sectors.Who is not eligible
This grant excludes certain companies and industries due to their status or main activity. The restrictions ensure that the funds support dynamic sectors in Alberta's tech ecosystem.
- Companies not incorporated or headquartered in Alberta.
- Businesses with less than 50% of employees based in Alberta.
- Industries outside B2B sectors in information and communications technology, energy technology, life sciences, agriculture, and biotech.
- Startups beyond the early-stage growth phase or already VC-round ready.
Eligible expenses
This grant supports projects that involve early-stage growth financing for Alberta-based tech startups. The focus is on fostering entrepreneurship in various B2B sectors that demonstrate proven product demand and are on the brink of expansion.
- Early-stage growth financing for tech startups headquartered in Alberta.
- Investment in private, incorporated tech enterprises with more than half of their workforce in Alberta.
- Co-investment opportunities with angel investors and venture capital partners.
- Support for startups in information and communications technology, energy technology, life sciences, agriculture, and biotech sectors.
- Mentoring and strategic advisory services provided by experienced technology entrepreneurs.
Eligible geographic areas
This grant is available to tech startups located primarily in Alberta, Canada. Eligible companies must have their headquarters and a majority of employees based in this region to qualify for funding.
- Companies must have a head office in Alberta.
- More than 50% of employees must be located in Alberta.
Selection criteria
The evaluation and selection criteria for projects under this grant are not explicitly outlined in the given context. The focus is on investing in Alberta-based tech startups in early stages and enhancing engagement with angel investors and co-investors.
How to apply
- Step 1: Preliminary Engagement
- Visit the Accelerate Fund website to understand the fund's purpose and criteria for investment.
- Engage with a representative from Yaletown Partners or the A100 for guidance and to discuss eligibility.
- Step 2: Gather Required Information
- Prepare company details including proof of Alberta headquarters and majority of employees based in Alberta.
- Collate all relevant financial documents and business plans demonstrating early-stage growth and product demand.
- Step 3: Secure Matching Investment
- Find and secure commitments from angels or private co-investors to match or exceed the requested amount.
- Document all co-investor commitments to align with the fund requirements.
- Step 4: Application Preparation
- Prepare a detailed pitch deck that outlines the technology, growth potential, and team expertise.
- Include detailed descriptions of your target market and competition analysis.
- Step 5: Submit Application
- Complete the application form on the Accelerate Fund III portal or submit it by email, as per the instructions on their website.
- Ensure that all required documents, including financials and co-investor confirmation, are attached.
- Review the application thoroughly before submission to avoid any errors.
- Step 6: Application Review and Confirmation
- Await confirmation from Accelerate Fund III that your application has been received and is under review.
- Prepare for any follow-up queries or requests for additional information during the review process.
Additional information
Here are additional relevant details for this grant:
- The Accelerate Fund III requires matching funds from angel or private co-investors, enhancing investment impact through a multiplier effect.
- Yaletown Partners, the fund's manager, conducts due diligence and oversees investment decisions, providing significant expertise to potential applicants.
- Beyond capital, the fund offers mentorship and industry connections via experienced technology entrepreneurs from the A100 and Yaletown Partners.
- Accelerate Fund III encourages collaboration and co-investment with other venture capital funds, formal angel groups, and individual investors.
- The fund has a typical investment size of $250,000 for the first round of financing with a new company.