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
grant_single|admissibleProjectsExample
$100,000
Vancouver
Implement AI-powered customer service bots to enhance user experience on an educational platform
$100,000
Calgary
Create an AI-driven platform for predicting crop yields in agriculture
$100,000
Ottawa
Integrate AI into an existing financial platform to enhance fraud detection
$80,000
Toronto
Develop a machine learning model to optimize supply chain logistics for e-commerce businesses
$120,000
Montreal
Develop an AI-based diagnostics tool for early detection of diabetes
$120,000
Winnipeg
Deploy an AI-based recommendation engine for an online retail store to boost sales
grant_single_labels|admissibility
The eligibility criteria for the Accelerate AI grant include incorporation and operation within Canada, a focus on applied AI and intelligent supply chain products, and evidence of solving a real problem in an identified market.
- The venture must be incorporated, based, and operating in Canada.
- Focused on applied AI and intelligent supply chain products and/or services.
- Less than two years old.
- Employing fewer than 500 globally (including its affiliates).
- The venture must be at the validation stage and have developed a minimum viable product (MVP).
- Is at the efficiency stage, experiencing initial traction in a receptive-enough market to build a business in.
- 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.
grant_eligibility_criteria|who_can_apply
Yes, there are eligible types of companies for this grant. The program is best suited for scale-up and later-stage companies focused on applied AI and intelligent supply chain products and/or services.
- Incorporated, based, and operating in Canada
- Focused on applied AI and intelligent supply chain products and/or services
- Less than two years old
- Employing fewer than 500 globally (including its affiliates)
- At the validation stage with a developed minimum viable product (MVP)
- At the efficiency stage, experiencing initial traction in a receptive-enough market
- Able to demonstrate evidence that their technology solves a real problem for an identified market
- Falls under one of the industry sectors and supply chain categories outlined in the application form
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
- Step 1: Fill out the Expression of Interest Form
- Step 2: Our Program Manager, Accelerate AI will contact you to schedule a review call to discuss the opportunity and better assess fit for the program
- Step 3: After initial evaluation, companies will be invited to complete the Accelerate AI Application Form for submission
- Step 4: All applicants are subject to review and approval. Rolling reviews will take place throughout the application period
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
Accelerate AI Program: Driving AI Excellence in Canadian Startups
Introducing the Accelerate AI Program: A Golden Opportunity for AI Startups
The Accelerate AI program, presented by ventureLAB, offers a tailored 6-month journey for Canadian startups integrating artificial intelligence (AI) and machine learning (ML) into their products. This program stands as an unrivaled opportunity for tech startups to thrive, with comprehensive support in talent acquisition, customer acquisition, access to capital, and technology development. Canada has been steadily emerging as a global leader in AI innovation, and the Accelerate AI program is designed to further cement this position. Let's delve into the intricate details of this program and understand how it can help your startup soar to new heights.
Key Features of the Accelerate AI Program
Access to Mentorship and Advisory
One of the standout features of the Accelerate AI program is the unmatched access to over 40 mentors and 15 advisors. These experts bring a wealth of knowledge and experience in various facets of business and technology. As a participant, you'll receive personalized mentorship tailored to your specific needs, whether that's technical development, business strategy, or market positioning.
Product Development Support
The journey from a minimum viable product (MVP) to a fully developed, market-ready solution can be complex. The program provides dedicated support for product development, ensuring you have the resources and guidance needed to refine and perfect your AI-driven solutions. This includes everything from technical advice to access to cutting-edge testing labs.
Fundraising and Capital Access
Navigating the fundraising landscape can be daunting, especially for early-stage startups. The Accelerate AI program offers personalized support from the Capital Investment Program team. These advisors can help you develop a compelling pitch, connect you with potential investors, and provide strategic advice to secure the necessary funding for scaling your operations.
Talent Attraction and Retention
Building a high-caliber team is crucial for any startup. The program offers advisory services to help you attract top talent and retain them. This includes guidance on recruitment strategies, employee engagement, and creating a conducive work environment that fosters innovation and productivity.
Free Access to Innovation Space
Participants get free access to ventureLAB’s 50,000 sq. ft. innovation space in Markham, one of Canada’s largest tech clusters. This state-of-the-art facility provides an ideal environment for collaboration, research, and development, and offers a myriad of resources to support your startup's growth.
Brand Promotion and Visibility
Getting your startup noticed in a crowded market can be challenging. The Accelerate AI program offers personalized and promotional videos and articles tailored to each company. These are shared across multiple channels, providing your startup with valuable exposure. Additionally, Demo Days offer a platform to showcase your products to a wide audience, including potential investors, partners, and customers.
Eligibility Criteria
To ensure the program supports the right candidates, there are specific eligibility requirements: - **Incorporated and Operating in Canada:** Your startup must be incorporated and actively operating within Canadian borders. - **Focus on Applied AI and Intelligent Supply Chain:** The program targets companies developing AI and intelligent supply chain solutions. - **Early-Stage Companies:** The startup should be less than two years old with fewer than 500 employees globally. - **Minimum Viable Product:** You must have developed an MVP and be at the validation stage. - **Evidence of Market Fit:** You need to demonstrate initial traction and show that your technology addresses a real problem for a defined market. If your startup meets these criteria, the Accelerate AI program could be the stepping stone you need to scale your operations and achieve sustained success.
Application Process
The application process for the Accelerate AI program is designed to identify startups that are the best fit for the available resources and support. Here’s a step-by-step guide: 1. **Fill out the Expression of Interest Form:** This initial step involves providing basic information about your startup and its objectives. 2. **Review Call:** The Program Manager for Accelerate AI will contact you to schedule a review call. This conversation helps assess the fit and potential benefits for your startup. 3. **Formal Application:** After the initial evaluation, suitable companies are invited to submit a detailed application form. 4. **Review and Approval:** All applications undergo rigorous review and approval, with rolling reviews throughout the application period. Please note that the formal applications for the current cohort are now closed, but startups are encouraged to submit an Expression of Interest Form to be considered for future opportunities.
Why Participate in the Accelerate AI Program?
Participating in the Accelerate AI program offers numerous strategic advantages: - **Accelerated Growth:** With tailored support in key areas, your startup can expedite its development and commercialization journey. - **Network Expansion:** The program connects you with a network of over 60 ventureLAB partners, including industry giants like AWS, Siemens, and Dell. - **Enhanced Credibility:** Being part of a prestigious program like Accelerate AI adds credibility to your startup, making it more attractive to investors, partners, and customers. - **Comprehensive Support:** From product development to fundraising and talent attraction, you receive holistic support to address every critical aspect of your business growth.
Success Stories and Testimonials
The Accelerate AI program has already supported numerous startups, creating over 6,800 jobs and attracting significant investment. Some of the notable success stories include companies like Portable Intelligence and AutoMetrics, which have benefited from the program's extensive resources and mentorship. Jeff Lem, from Portable Intelligence, highlighted the invaluable guidance and networking opportunities provided by the program, which played a crucial role in their growth trajectory. Similarly, Mike Mohseni from AutoMetrics praised the program's supportive ecosystem that allowed them to refine their product and reach a wider audience.
Conclusion
The Accelerate AI program by ventureLAB is an unparalleled opportunity for Canadian startups focused on AI and intelligent supply chain solutions. With its comprehensive support ecosystem, startups can accelerate their growth, attract investment, and establish a robust market presence. If you aim to be a leader in AI innovation, this program could be your gateway to success. For more information, visit the ventureLAB website or contact accelerateai@venturelab.ca.
