ventureLAB — Accelerate AI
Canada
Accelerate AI: A premier 6-month program supporting Canadian AI startups in talent acquisition, customer acquisition, capital access, and technology development.
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateJuly 02, 2023
- grant_single|closingDateAugust 06, 2023
grant_single|financingType
Grant and Funding
Expert Advice
Partnering and Collaboration
Other Support
grant_single|eligibleIndustries
- Information and cultural industries
- Professional, scientific and technical services
grant_single|grantors
- ventureLAB
grant_single|status
grant_card_status|closed
grant_single_labels|preview
The Accelerate AI program by ventureLAB is a six-month initiative designed to support tech startups integrating AI and machine learning into their products. Eligible activities include talent acquisition, customer acquisition, technology development, and accessing capital. The program targets Canadian-based ventures at the validation stage with a developed MVP and initial market traction.
grant_single_labels|projects
This program is accessible to companies across Canada without geographical restrictions. It embraces a national scope to support ventures in any Canadian province or territory.
- All provinces and territories in Canada.
grant_single|admissibleProjectsExample
$100,000
Implement AI-powered customer service bots to enhance user experience on an educational platform
$100,000
Create an AI-driven platform for predicting crop yields in agriculture
$100,000
Integrate AI into an existing financial platform to enhance fraud detection
$80,000
Develop a machine learning model to optimize supply chain logistics for e-commerce businesses
$120,000
Develop an AI-based diagnostics tool for early detection of diabetes
$120,000
Deploy an AI-based recommendation engine for an online retail store to boost sales
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the venture's profile and operations in Canada.
- The venture must be incorporated, based, and operating in Canada.
- The focus should be on applied AI and intelligent value chain products and/or services.
- The venture must be less than two years old.
- Employ fewer than 500 individuals globally, including affiliates.
- The venture must be at the validation stage with a minimum viable product (MVP) or at the efficiency stage showing initial market traction.
- There must be evidence that the technology solves a real problem for an identified market.
- The venture must fall under one of the industry sectors and value chain categories outlined in the application form.
grant_eligibility_criteria|who_can_apply
The program is best suited for scale-up and later-stage companies throughout Canada that are focused on integrating artificial intelligence into their products and services. Applicants must be Canadian-incorporated companies, operational within Canada, and engage in applied AI or intelligent value chain sectors.
grant_eligibility_criteria|eligible_expenses
The Accelerate AI program is designed to foster growth and innovation among startups focused on applied AI and intelligent value chain products or services. Eligible activities for this grant involve technological advancement, strategic talent acquisition, customer engagement, and capital access.
- Enhancing product development through advanced AI and machine learning technologies.
- Implementation strategies for attracting and retaining skilled talent in the AI sector.
- Initiatives for effectively acquiring and maintaining a customer base.
- Activities related to securing investment and funding.
grant_eligibility_criteria|zone
This grant is open to companies that are operating and based in Canada. There are no specific geographic restrictions within the country.
- Operating and based in Canada
grant_single_labels|criteria
Yes, the evaluation and selection criteria for the Accelerate AI program involve several stages of review to determine the fit for the program, focusing on various aspects of the venture and its product. The criteria ensure that the participating ventures are well-aligned with the goals of the program and have the potential for growth and innovation in the AI landscape.
- The venture must be incorporated, based, and operating in Canada.
- The focus should be on applied AI and intelligent supply chain products and/or services.
- The venture must be less than two years old.
- Employ fewer than 500 globally, including its affiliates.
- The venture must be at the validation stage and have developed a minimum viable product (MVP).
- Should be at the efficiency stage, experiencing initial traction in a receptive-enough market to build a business.
- Able to demonstrate evidence that their technology solves a real problem for an identified market.
- The venture must fall under one of the industry sectors and supply chain categories outlined in the application form.
- Submit an Expression of Interest Form for initial fit assessment.
- Undergo a review call with the Program Manager to discuss the opportunity and assess fit for the program.
- Complete the Accelerate AI Application Form upon initial evaluation.
- Subject to rolling reviews and approval throughout the application period.
grant_single_labels|register
Here are the steps to submit an application for the Accelerate AI program:
- Step 1: Expression of Interest
- Fill out the Expression of Interest form available on the ventureLAB website.
- Step 2: Initial Contact
- The Accelerate AI Program Manager will contact you to schedule a review call.
- Discuss the opportunity and assess the fit for the program during the call.
- Step 3: Application Form Completion
- Upon passing the initial evaluation, complete the Accelerate AI Application Form as per the invitation received.
- Step 4: Submission and Review
- All applications are subject to a rolling review process throughout the application period.
- Ensure application submission before the deadline.
grant_single_labels|otherInfo
The Accelerate AI program by ventureLAB offers comprehensive support for Canadian startups integrating AI and machine learning into their products, focusing on talent acquisition, customer acquisition, capital access, and technology development.
- Access to over 40 mentors and 15 advisors
- Personalized support for product development
- Access to personalized support from the Capital Investment Program team for fundraising
- Advisory on attracting top talent
- Free access to ventureLAB’s Innovation Space in Markham
- Personalized and promotional videos and articles tailored to each company
- Demo Days for visibility and product demonstration to a wide audience
- Access to ventureLAB’s network of over 60 partners including AWS, Siemens, Keysight, Dell, MicroArt, and more
grant_single_labels|contact
accelerateai@venturelab.ca
905-248-2727
Apply to this program
Unleash the Power of AI with Accelerate AI Program
The Accelerate AI program is a premier initiative tailored for tech startups in Canada eager to excel through the integration of artificial intelligence and machine learning into their business solutions. With a dedicated six-month journey brimming with support in technology development, talent acquisition, customer attraction, and financing, this program positions startups on the path to accelerated growth and innovation.
Explore the In-Depth Benefits and Opportunities of Accelerate AI
Situated in York Region, renowned as Canada's second-largest tech cluster, the Accelerate AI program taps into the immense potential and expertise of this vibrant hub to propel startups to new heights. With applications open nationwide, the program welcomes startups that are keenly focused on applied AI and intelligent value chain solutions, promising not only a nurturing environment but also an amplification of their growth trajectories.
The structured format begins with expressing interest, leading to a customized review call, and culminating in a detailed application process. This ensures that participants are meticulously selected and aligned with the values and goals of the program, ready to leverage cutting-edge AI capacities to address modern-day challenges.
One standout feature of the Accelerate AI initiative is its focus on comprehensive mentorship and advisory services. A roster of over 40 mentors and 15 seasoned advisors provide personalized guidance across multiple facets — from robust product development strategies to insightful fundraising assistance — ensuring startups are well-equipped to advance their innovative solutions.
Moreover, participants benefit from exclusive access to ventureLAB's 50,000 square-foot Innovation Space in Markham, offering an environment conducive to creativity and collaboration. The program also provides an avenue for amplifying company visibility through tailored promotional content and demonstration days, where startups can showcase their innovations to a broad audience, including potential partners and investors.
A crucial component of the program is the Capital Investment Program support team, who aid in navigating the often challenging fundraising landscape. This personalized support service equips startups with the necessary tools and insights to secure capital and foster financial sustainability, transforming visionary ideas into reality.
The Accelerate AI program is particularly advantageous for startups at the validation or efficiency stage, equipped with a minimum viable product (MVP) or experiencing initial market traction. This ensures that the participating companies are not only ready to innovate but are poised to scale efficiently.
Additionally, the program underscores the importance of intellectual property through specialized workshops and guidance, empowering startups to safeguard and optimize their technological advancements. This focus on IP rights enhances a participant's competitive edge and market position.
Engagement with ventureLAB's expansive network, which includes illustrious partners like Siemens, Tenstorrent, and Dell Technologies, further enriches the program, offering an unprecedented opportunity to forge connections with industry leaders and innovators.
As no equity is required from participating companies, Accelerate AI creates a mutual growth environment where innovation is the centerpiece. This non-dilutive support model promotes a shared mission — fostering growth through groundbreaking AI technologies while ensuring startups retain full control over their ventures.
For innovative startups determined to make a mark on the global stage, the Accelerate AI program presents an unparalleled opportunity to refine their offerings, optimize market strategies, and cement their place in the evolving tech landscape, thereby contributing substantially to Canada's AI leadership.
