Accelerate Fund

The Accelerate Fund provides a structured financing approach tailored to support Alberta tech startups' growth through co-investment opportunities. While the primary focus is on early-stage tech companies, the fund encourages collaboration with other investors.

• Initial investment of $250,000 in the first financing round with a new company.
• Requires matching dollars from angel or private co-investors, creating a multiplier effect of two to three times the original investment.
• Opportunity for involvement in deals with multiple investors, including venture capital funds and private investors.
• Support in attracting additional investors such as formal angel groups, super-angels, family funds, and individual angel investors.

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.

Who is eligible?

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.

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.

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.