New Ventures BC — Venture Accelerator Program
BC, Canada
Distance accelerator for early-stage technology in BC
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
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- grant_single|timelineUnspecified
grant_single|financingType
Expert Advice
grant_single|eligibleIndustries
- Information and cultural industries
- Professional, scientific and technical services
- Other services (except public administration)
- Public administration
grant_single|grantors
- Government of British Columbia
- New Ventures BC
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grant_card_status|open
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Get one-on-one business coaching, entrepreneurial training and access to exclusive services and resources as you work through the startup process.
grant_single_labels|terms_and_conditions
The New Ventures BC — Venture Accelerator Program provides structured payment options for program participation, facilitating mentorship access for BC-based tech ventures.
- Bi-weekly mentorship sessions are available at a cost of $95 per month.
- Weekly mentorship sessions are available at a cost of $150 per month.
- A $50 discount is offered for the first three months to past New Ventures BC competitors.
- Post-graduation, the program offers monthly mentorship sessions at $50 for one-hour sessions.
grant_single_labels|projects
The Venture Acceleration Program is designed to assist BC-based companies with innovative products or services in the tech sector to advance from ideation through growth stages with the help of tailored mentorship and resources. This includes support for discovering customers, validating markets, and setting business objectives.
- Engagement in Market Validation Training to identify potential customers and validate markets.
- Participation in ideation or pivot strategies to validate products, pricing, and go-to-market strategies.
- Refinement of sales and financing goals as part of achieving product-market fit.
- Development of minimum viable products and strategic plans, such as go-to-market strategies, marketing, and sales techniques.
- Quarterly presentations and reviews to evaluate progress and receive feedback from mentors.
- Preparation for a scale-up accelerator program post-graduation from the Venture Program.
- Access to additional monthly mentorship sessions post-graduation for ongoing strategic planning.
grant_single|admissibleProjectsExample
$ 50,000
Developing a new AI-driven health app focused on remote patient monitoring
$ 40,000
Launching a new VR travel experience app to explore global destinations virtually
$ 55,000
Creating an innovative food delivery service focusing on sustainable packaging
$ 45,000
Developing a new e-commerce platform for vintage clothing retailers
$ 30,000
Building a new platform for local artists to sell and promote their art
$ 35,000
Creating an online platform for organic farmers to sell directly to consumers
grant_single_labels|admissibility
Your company must meet certain criteria to be eligible for this grant.
- Be based in British Columbia (BC).
- Develop a new and innovative product or service in any tech sector.
- Be coachable and able to commit to regular meetings.
- Be in the ideation, early, or growth phase.
- Be generating revenue or be pre-revenue.
grant_eligibility_criteria|who_can_apply
The eligibility criteria for the Venture Acceleration Program specify that applicants must be:- Based in British Columbia (BC).- Developing a new and innovative product or service in any tech sector.- Coachable and willing to commit to regular meetings.- In the ideation, early, or growth phase of their business.- Either generating revenue or in a pre-revenue stage.
grant_eligibility_criteria|who_cannot_apply
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
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
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.
grant_single_labels|criteria
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
grant_single_labels|register
- 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.
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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.
Apply to this program
Empowering Innovation in BC's Tech Sector
The Venture Acceleration Program is a supportive initiative aimed at technology companies in British Columbia. With a combination of mentorship, market validation training, and program perks, it is designed to help businesses at all stages of development reach new heights.
Diving Deeper into the Venture Acceleration Program
The Venture Acceleration Program, an initiative under the BC Acceleration Network and sponsored by Innovate BC, is dedicated to fostering the growth and success of BC-based technology companies, offering a structured pathway for ideation, development, and scaling up. Whether in the early stages of innovation or ready to escalate growth, the program provides entrepreneurs with virtual mentorship from experienced professionals who have "been there, done that" in the tech industry. The mentorship is a cornerstone of the program, allowing entrepreneurs to connect with a network of "Executives in Residence" who possess decades of experience in various realms of technology and business management.
Participating businesses benefit from hourly one-on-one mentorship sessions available by phone or video, ensuring flexibility for founders balancing multiple responsibilities. This mentorship focuses not only on commercialization but also on critical aspects such as setting business objectives, resource management, and strategic planning. Through these interactions, entrepreneurs gain valuable insights and feedback tailored to the unique challenges and opportunities present in their sectors.
Moreover, the program encompasses Market Validation Training, which assists entrepreneurs in understanding their target audiences and refining their value propositions. This component is crucial for companies seeking to find product-market fit or pivot their business model according to evolving market demands. By participating in structured quarterly reviews, companies can stay accountable, track their progress, and pivot strategies based on the feedback from mentors and peers.
In addition to strategic guidance, the program offers perks such as AWS credits and access to resources like HubSpot, which provide financial relief and enable businesses to leverage cutting-edge technologies to streamline operations and optimize marketing efforts. Such incentives are particularly advantageous for early-stage tech companies where resource constraints are common hurdles.
Financially, the program offers a cost-efficient structure with a subscription model, making it accessible for startups stemming from competitive, diversified tech sectors. The graduated fee structure with discounts for former New Ventures BC competitors illustrates the program's commitment to financially supporting the region's entrepreneurial ecosystem.
Through this comprehensive suite of services, the Venture Acceleration Program not only aids in business development but also enhances personal growth for entrepreneurs. Each session and training program is a stepping stone toward achieving broader corporate objectives such as refining sales strategies, setting financing goals, or developing a go-to-market plan.
The program ultimately aims to prepare businesses for participation in scale-up accelerator programs or independent scaling endeavors. Its design encourages sustained entrepreneurial success by providing continued mentorship options for alumni who have graduated from the program. This ongoing support helps maintain momentum and addresses shifting challenges as companies move to the next growth phases.
By facilitating access to experienced mentors, enriched learning insights, and strategic resources, the Venture Acceleration Program indeed stands as a paradigm of structured growth facilitation tailored to the demands of BC's vibrant tech landscape.
