New Ventures BC — Venture Accelerator Program

Who is eligible?

Who is not eligible

There are specific types of companies that are not eligible for this grant. To be eligible, companies must meet the following criteria:

• Not BC-based
• Not developing a new and innovative product or service in any tech sector
• Not coachable or unable to commit to regular meetings
• Not in the ideation, early, or growth phase
• Not generating revenue or pre-revenue

Eligible expenses

The Venture Acceleration Program offers a structured path for technology entrepreneurs to develop their business strategies. The eligible activities are designed to support various stages of business growth through mentorship, training, and resource access.

• Receiving one-on-one mentorship in business strategy, customer discovery, and market identification.
• Participating in market validation training to refine product offerings and go-to-market strategies.
• Setting and working towards quarterly business objectives such as creating Minimum Viable Products, developing marketing strategies, and refining pitches.
• Engaging in quarterly reviews with a panel of experts to gain feedback and guidance for business development.
• Accessing perks such as AWS credits and tools like Hubspot for startups to enhance business operations.
• Receiving post-graduation support including monthly mentorship sessions and strategic planning check-ins.

Eligible geographic areas

This grant is specifically available to companies based in British Columbia, Canada. The eligibility is restricted to businesses operating within the province to support local innovation and growth.

• Companies based in British Columbia.

There are evaluation and selection criteria for this grant. The criteria include:

• BC-based company
• Developing a new and innovative product or service in any tech sector
• Coachable and can commit to regular meetings
• In the ideation, early, or growth phase
• Generating revenue or pre-revenue

• Step 1: Application Submission
  • Visit the application website for the Venture Acceleration Program.
  • Fill out the online application form with all required information about your company and its objectives.
  • Ensure all fields are completed accurately and truthfully.
• Step 2: Application Review
  • After submission, wait for the application team to review your submission.
  • The team will reach out to discuss further, answer questions, and evaluate your fit for the program.
• Step 3: Mentor Selection
  • Engage in discussions with the program team to select a suitable mentor based on your specific needs and availability.
• Step 4: Set Meeting Schedule
  • Decide on a regular meeting schedule for mentorship sessions, choosing between bi-weekly or weekly meetings.
  • Join a cohort for additional quarterly reviews and presentations.

Here are additional relevant details for this program:

• The program provides program perks such as access to AWS credits and Hubspot for startups.
• The program offers different streams based on business needs, including an Ideation Stage or Pivot stream and a Product-Market Fit stream.
• Participants can take advantage of staying part of a connected alumni network with access to further mentorship.
• Graduates of the program are prepared or transitioned for a scale-up accelerator program or set to move forward independently.
• The mentors, known as Executives in Residence, bring decades of experience from various sectors and offer significant strategic support to businesses.