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
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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.
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The Venture Acceleration Program offers several project and activity opportunities for eligible businesses. These initiatives focus on providing mentorship, training, and resources to help entrepreneurs succeed.
- Virtual Mentorship: One-on-one hourly mentorship sessions tailored to the founder's schedule.
- Market Validation Training: A program designed to help businesses discover customers and identify markets.
- Quarterly Reviews: Regular panel sessions to review progress and gain expert feedback.
- Graduation Preparations: Assistance in preparing the company for a scale-up accelerator program or independent growth.
- Alumni Support: Ongoing strategic planning support for program graduates.
grant_single|admissibleProjectsExample
$50,000
Vancouver
Developing a new AI-driven health app focused on remote patient monitoring
$40,000
Toronto
Launching a new VR travel experience app to explore global destinations virtually
$55,000
Ottawa
Creating an innovative food delivery service focusing on sustainable packaging
$45,000
Edmonton
Developing a new e-commerce platform for vintage clothing retailers
$30,000
Montreal
Building a new platform for local artists to sell and promote their art
$35,000
Calgary
Creating an online platform for organic farmers to sell directly to consumers
grant_single_labels|admissibility
Your company must meet the following eligibility criteria to apply for the Venture Acceleration Program:
- BC-based
- 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_eligibility_criteria|who_can_apply
The Venture Acceleration Program is available for companies developing a new and innovative product or service in any tech sector and are based in British Columbia. A short summary of the eligibility criteria is as follows:
- BC-based companies
- Developing an 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_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
There are eligible expenses for this grant.
- Market Validation Training
- Program Perks including access to AWS credits and Hubspot for startups
grant_eligibility_criteria|zone
Eligible companies for this grant must be based in British Columbia, Canada. This program is designed to support businesses within this region in developing new and innovative products or services.
- 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: Apply Anytime
- Submit your application on a rolling basis.
- Our team will contact you to discuss your application and any questions you may have.
- Evaluation of fit for the program.
Step 2: Choose a Mentor
- Discuss with the program team your needs and availability.
- Be paired with a suitable mentor.
Step 3: Attend Regular Meetings
- Set a regular meeting time with your mentor.
- Join a cohort for quarterly reviews and presentations.
Step 4: Set Quarterly Objectives
- Define goals such as product development, financing, or marketing strategies.
- Prepare objectives for quarterly panel reviews.
Step 5: Quarterly Reviews
- Present progress and receive feedback from a panel of mentors.
- Receive personalized feedback and next steps.
Step 6: Graduate
- Prepare your company for scale-up or next steps after exiting the program.
- Access additional support options for program alumni.
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The Venture Acceleration Program offers structured costs and incentives.
- Program costs: $95/month for bi-weekly meetings, $150/month for weekly meetings.
- A $50 discount for past New Ventures BC competitors, applicable for the first three months.
The program also provides value through its mentors.
- Executive in Residence mentors bring experience from technology startups and Fortune 100 companies.
- Mentors provide strategic guidance and help define business objectives for startups.
Apply to this program
Venture Acceleration Program: Empowering BC-based Tech Entrepreneurs
The Venture Acceleration Program offers a comprehensive mentorship and educational experience tailored for tech entrepreneurs in British Columbia. Designed to support businesses at various stages, the program provides invaluable resources for market validation, strategic planning, and growth.
Unlocking Opportunities with the Venture Acceleration Program
The Venture Acceleration Program, supported by Innovate BC, is a dynamic initiative aimed at nurturing tech entrepreneurs within British Columbia. It is meticulously structured to provide entrepreneurs with the tools and guidance necessary to thrive in the competitive tech landscape. The program is particularly beneficial for those in the ideation stage, early phases, or those looking to pivot their business strategies with a focus on innovation and market relevance. One of the standout features of this program is its emphasis on virtual mentorship. Entrepreneurs are paired with accomplished mentors who offer one-on-one guidance through phone or video sessions. This flexibility ensures that mentees can receive guidance at times that best fit their schedules, thereby maximizing the mentoring experience. These sessions focus on helping entrepreneurs establish clear business objectives, set priorities, and commercialize their products effectively. In addition to personalized mentorship, participants benefit from Market Validation Training. This component is essential for understanding customer needs and identifying viable markets. Entrepreneurs can refine their product, pricing, and go-to-market strategies, equipping them with the knowledge to make informed business decisions. This exploration of markets ensures that products not only meet customer expectations but are also positioned to capture market share strategically. Quarterly reviews form another critical aspect of the program. These reviews are more than a status update; they are a platform for entrepreneurs to present their progress to a panel of mentors, gaining insights and feedback that can be pivotal for their business trajectory. This accountability mechanism helps entrepreneurs stay on track, ensuring they are working towards achieving their business goals systematically. The program is designed to accommodate businesses in various growth phases, offering tailored content and support. For those at the ideation stage, the focus is on market discovery and validation, providing a foundation for scaling. Businesses closer to achieving product-market fit are guided through refining sales strategies, financial planning, and identifying growth opportunities. This dual-stream approach ensures that the program can adapt to the specific needs of each entrepreneur. Beyond these core elements, participants gain access to a suite of program perks, including AWS credits and Hubspot resources. These tools are invaluable for reducing operational costs and enhancing business processes. For past competitors of New Ventures BC, there’s an introductory discount that makes the program even more accessible. Graduates of the program emerge well-prepared to enter more advanced accelerators or independently scale up their operations. The journey doesn’t necessarily end upon graduation; ongoing support is available through monthly mentorship sessions or strategic planning check-ins, ensuring that alumni can continue leveraging expert guidance in their entrepreneurial journey. The cost of participating in the program is structured to provide flexibility, with options for bi-weekly or weekly mentorship sessions, ensuring entrepreneurs can choose the level of engagement that suits their needs. This investment is described by past participants as delivering exceptional value, with mentorship and feedback driving substantive business progress. The Venture Acceleration Program stands out not just for its comprehensive support system and resources but also for its commitment to fostering a thriving tech community within British Columbia. Entrepreneurs who have taken part in the program attest to its efficacy in propelling their ventures forward, providing them with not only business acumen but also the confidence to navigate entrepreneurial challenges. In summary, the Venture Acceleration Program represents a unique opportunity for BC-based tech entrepreneurs to gain insightful mentorship, validate their market strategies, and set strategies that ensure long-term success. It acts as a catalyst for growth, enabling entrepreneurs to transform innovative ideas into market-ready solutions, ultimately contributing to a vibrant tech ecosystem.
