Accelerate Okanagan — Venture Acceleration Program
BC, Canada
Resources to take a BC business to market
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- grant_single|closingDateSeptember 04, 2023
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Expert Advice
Partnering and Collaboration
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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.
Apply to this program
Jumpstart Your Entrepreneurial Journey with VAP
The Venture Acceleration Program (VAP) by Innovate BC offers a six-month intensive program tailored for ambitious entrepreneurs ready to bring their businesses to market. Through personalized mentorship and a dynamic cohort model, participants gain essential tools and connections to transform their startups into successful ventures.
Dive Deep into the Venture Acceleration Experience
The Venture Acceleration Program, an initiative launched by Innovate BC, is uniquely structured to empower entrepreneurs through a blend of mentorship, peer interaction, and pragmatic training. Entrepreneurs embarking on this six-month journey are equipped to navigate the complexities of launching a business, from crafting a solid foundation to executing a successful market entry strategy.
The program commences in October with a focus on goal-setting, which forms the backbone of strategic planning and execution for any budding enterprise. Participants are guided through the intricacies of creating a goal-setting framework aligned with their visionary and operational objectives. This phase not only leverages OKRs (Objectives and Key Results) but also integrates quarterly business reviews facilitated by mentors. The initial weeks also emphasize converting business hypotheses into customer-validated insights through an extensive customer discovery process.
As November unfolds, the focus shifts to reflecting on and iterating these initial discoveries. Participants are taught to thoroughly analyze their findings, retarget their efforts, and craft compelling positioning statements that communicate their unique market propositions. This stage is pivotal in honing the entrepreneurs’ abilities to adapt and refine their business model based on customer feedback and market realities.
December ramps up with targeted market analysis and Minimum Viable Product (MVP) development. Entrepreneurs delve into market segmentation to pinpoint their ideal customer profiles, supported by research into market size and trends. Moreover, they conduct a competitive analysis to strategically position their startups and define a robust initial MVP.
Moving into January, the program prioritizes team dynamics and the business model. Participants evaluate financial feasibility, team capabilities, and personal leadership skills necessary for driving business success. This focus on team and personal development ensures that entrepreneurs build resilient and capable operational teams.
February's agenda is all about preparation for launch. Entrepreneurs refine their MVPs through quality testing, finalize pricing strategies, and thoroughly evaluate marketing and sales plans. This comprehensive groundwork positions them to confidently introduce their product to the market.
Finally, as the program transitions into March, participants perfect their business pitches, readying them to present their ventures to potential investors and partners. The craft of effective pitching is fine-tuned with input from mentors, maximizing the entrepreneurs’ readiness for real-world engagement.
Despite the virtual facilitation due to COVID-19, the VAP maintains its core essence of fostering collaboration, learning, and high-value networking. This virtual format is designed to deliver the same level of dynamic interaction and experiential learning that are hallmarks of the program. Entrepreneurs emerge from the Venture Acceleration Program not only with a stronger vision and business model but also with valuable relationships and a sharper competitive edge in the marketplace.
