Accelerate Fund
AB, Canada
Early investment and coaching for Alberta startups
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Information and cultural industries
- Professional, scientific and technical services
- Health care and social assistance
grant_single|grantors
- Yaletown Partners
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grant_card_status|open
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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
grant_single_labels|projects
This grant is available to companies located in a specific geographical area associated with Alberta. The eligibility is centered on ensuring support for regional tech startups.
- Companies must be based in Alberta.
- Businesses should have a head office in Alberta.
- More than 50% of employees must be located in Alberta.
grant_single|admissibleProjectsExample
$250,000
Developing an AI-driven legal tech platform for automating legal documents
$250,000
Creating a B2B healthcare technology platform for patient data management
$250,000
Creating a fintech platform that offers microloans to small businesses
$250,000
Developing an IoT device to monitor environmental conditions for smart farming
$250,000
Developing a blockchain-based supply chain management system for agriculture businesses
$250,000
Research and development of a renewable energy storage solution for residential use
grant_single_labels|admissibility
Eligibility for this grant is determined by specific criteria related to the company's location, sector, and stage of development.
- The company must be a tech startup based in Alberta.
- The head office and more than 50% of employees must be located in Alberta.
- The company must be private and incorporated.
- The company should operate in the information and communications technology, energy technology, life sciences, agriculture, or biotech sectors.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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.
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
The grant covers expenses that contribute to the growth and development of early-stage Alberta-based tech startups.
- Funding for staff salaries and wages directly involved in the tech startup.
- Costs associated with product development and enhancement.
- Expenses for market research and strategy development.
- Costs for business development and sales efforts to establish product demand.
- Advisory and mentorship services to support business growth and governance.
grant_single_labels|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.
grant_single_labels|register
- 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.
grant_single_labels|otherInfo
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.
Apply to this program
Boosting Alberta Tech Startups with Angel Matching Funds
The $23 million Accelerate Fund III is an angel matching fund designated for early-stage tech startups headquartered in Alberta. It primarily targets businesses in technology sectors with established product demand to help them gear up for potential venture capital rounds in the future.
Details About the Accelerate Fund III and Its Strategic Benefits
The Accelerate Fund III provides an exceptional opportunity for Alberta-based technology startups to secure essential early-stage growth financing. This financial boost not only assists in immediate developmental needs but also strategically positions these companies for future venture capital engagements. Targeting companies that are not yet ready for VC rounds, the fund emphasizes supporting businesses within various business-to-business (B2B) sectors, particularly those involved in information and communications technology, energy tech, life sciences, agriculture, and biotech—all critical to Alberta’s economic landscape.
Managed by Yaletown Partners with the collaboration of the A100, the fund leverages over $450M of Yaletown’s investment expertise spread across 75 Canadian companies. Yaletown’s due diligence and investment strategies guide the Accelerate Fund III, ensuring thorough and expert-backed investment decisions. Meanwhile, the A100 offers a crowning layer of support, enabling access to mentorship and industry connections vital for scaling tech startups. This dual focus of financial support and mentorship has been successfully deployed in its predecessors, the fully invested Accelerate Fund I and II.
The fund’s design is distinctively collaborative, encouraging co-investment alongside angels and other venture capitalists. By requiring that investments in eligible startups have matching contributions from private investors, the fund not only amplifies the financial impact through potential multiplying effects but also fosters a community of growth-oriented co-investors. For instance, a typical financing round may involve three investors contributing $250,000 each, with the Accelerate Fund III adding an equivalent amount to bridge funding gaps, attract further investments, and enhance financial solidity.
Beyond the primary advantage of the monetary input, the fund’s ecosystem is fortified by the active involvement of seasoned mentors and industry leaders from the A100. They provide participants with tailored business advice, technological coaching, and access to governance support. This comprehensive support framework extends into building valuable networks with industry contacts, aiding in creating robust pathways for business development and expansion.
Entrepreneurs who join the program benefit not just as passive recipients of funds but as active participants in Alberta's vibrant tech ecosystem. This integration into a broad network not only accelerates their immediate growth but also establishes a sustained trajectory for successful future ventures. Thus, the Accelerate Fund III is as much an investment in the companies it funds as it is in the broader Alberta tech marketplace, seeking to elevate the industry standard and inspire a culture of innovative excellence across the province.
In conclusion, the Accelerate Fund III serves as a cornerstone in the Alberta startup funding landscape, offering capital, mentorship, and growth opportunities tailored specifically for burgeoning tech enterprises. This holistic approach ensures that businesses are not only financially equipped but also strategically guided to carve out a niche in national and global markets, capitalizing on Alberta’s robust support network and vibrant tech ecosystem.
