Accelerate Okanagan — Venture Acceleration Program
BC, Canada
Resources to take a BC business to market
grant_single|update January 24, 2025
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- grant_single|closingDateSeptember 4, 2023
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Partnering and Collaboration
Expert Advice
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- Accelerate Okanagan
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Access one-on-one business coaching, entrepreneurial training and resources, and exclusive services as you work through the startup process.
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The Venture Acceleration Program is a six-month initiative designed to support entrepreneurs in taking their businesses to market, focusing on mentorship and training. Eligible activities include goal setting, customer discovery, market analysis, team and business model development, launch preparation, and pitching.
- Building and implementing a goal-setting framework to connect operational plans with the entrepreneur's vision.
- Setting business hypotheses and creating customer discovery plans.
- Analyzing customer discovery results and introduction to positioning statements.
- Market segmentation, identifying ideal customers, and competitive analysis.
- Assessment of team capabilities and development of financial feasibility models.
- Finalizing pricing, marketing, and sales plans in preparation for launch.
- Improving business pitches to effectively describe and promote the business.
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$ 30,000
Develop a prototype for an eco-friendly packaging solution
$ 20,000
Conduct market research for a new organic food business
$ 30,000
Developing an innovative app for local restaurant recommendations
$ 50,000
Launching a sustainable fashion line targeting eco-conscious consumers
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Eligibility for the Venture Acceleration Program is determined by the readiness and commitment of the entrepreneur and their business status.
- Applicants should be committed entrepreneurs ready to take their business to market.
- The program requires participants who are open to mentorship and training.
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The Venture Acceleration Program (VAP) is designed for committed entrepreneurs who are ready to take their business to market. This program is ideal for entrepreneurs seeking mentorship, training, and an opportunity to build networks in a cohort model, as they navigate through the startup process. It is suitable for those who want to enhance their business skills in goal setting, customer discovery, market analysis, team development, and pitching. Participants must be willing to engage in a virtual learning environment due to ongoing COVID-19 restrictions.
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The program involves a detailed framework encouraging entrepreneurs to set achievable goals, validate their business ideas, and prepare for a successful launch. Participants will develop vital skills through a series of structured activities that emphasize market understanding, team building, and effective pitching.
- Build and implement a goal-setting framework aligned with operational plans and vision.
- Transform business hypotheses into customer-validated facts through customer discovery plans.
- Analyze customer discovery outcomes and refine market positioning.
- Conduct market segmentation and competitive analysis to define an MVP.
- Develop a financial feasibility model and assess team capabilities.
- Create a release strategy and prepare for market launch.
- Enhance business pitching skills for effective presentations.
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The evaluation and selection criteria for the Venture Acceleration Program (VAP) are not explicitly stated in the provided context. Specific criteria and assigned point scores were not detailed in the available information.
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Here are the steps to submit an application for the Venture Acceleration Program Fall Cohort:
- Step 1: Review Program Details
- Study the program's objectives, curriculum, and timeline to ensure alignment with your business goals.
- Assess the commitment required to participate in the six-month program.
- Step 2: Prepare Application Materials
- Collect information about your startup, including vision, mission, and business objectives.
- Prepare details about your team, including roles, expertise, and contact information.
- Draft descriptions of your product or service and its market potential.
- Step 3: Complete Application Form
- Access the application form via the Innovate BC or Accelerate Okanagan website.
- Fill out all required fields, ensuring accurate and comprehensive responses.
- Step 4: Submission
- Submit the completed application form through the designated online portal before September 4.
- Verify receipt of your application by looking for a confirmation message or email.
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Here are additional relevant details for the Venture Acceleration Program:
- The program is facilitated virtually due to ongoing COVID-19 restrictions, ensuring accessibility regardless of location.
- Participants will engage in a cohort model, fostering lifelong relationships and collaborative learning with peers.
- Each month of the program focuses on specific themes, including goal setting, customer discovery, market analysis, team development, launch preparation, and pitching skills.
- Personalized, one-on-one mentorship is provided alongside group activities for comprehensive support.
- Entrepreneurs will have access to a network of mentors and potentially beneficial contacts within the Innovate BC and Accelerate Okanagan ecosystems.
