Zú program - Incubation
QC, Canada
The Zú Incubation Program leverages MIT's proven Venture Mentoring Service to accelerate your business's commercial success through rigorous, impartial, and confidential mentorship and support.
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grant_single|eligibleFinancing
- grant_single|noCondition
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- grant_single|timelineUnspecified
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Expert Advice
Partnering and Collaboration
Other Support
grant_single|eligibleIndustries
- Arts, entertainment and recreation
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- Zú
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grant_card_status|open
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The Incubation program, based on the Venture Mentoring Service (VMS) methodology developed by MIT, aims to support companies with a minimum viable product by providing strategic mentorship from a network of experienced mentors. This year-long program offers access to various services including professional workshops, pitch clinics, and exclusive financing sources, designed to propel commercial success and support internationalization efforts.
grant_single_labels|projects
Yes, projects and activities eligible for this grant include those that have developed a minimum viable product and aim to grow and commercialize their business. The incubation program provides various forms of support to these projects.
- Team mentoring sessions with experienced mentors
- Workshops and meetings with professional experts (legal, tax, financial, etc.)
- Access to National Bank’s Creative Industries Group advisor
- Monthly pitch clinics
- Participation in innovation challenges
- Access to exclusive financing sources
- Support for internationalization and trade missions
- Privileged access to TELUS 5G Innovation Lab residencies
- Access to meeting and work spaces in the Zú Atrium
- Preferred access to Zú events and exclusive community offerings
grant_single_labels|admissibility
To be eligible for this grant, companies must meet the following criteria:
Have developed a minimum viable product.
Wish to develop their marketing and growth.
The annual administrative fee for this program is $3,700.
Additional fees may apply for companies outside Quebec.
grant_eligibility_criteria|who_can_apply
This grant is tailored for companies that have developed a minimum viable product and are looking to scale and achieve commercial success. The program is designed to support startups through mentorship, workshops, and exclusive services.
- Companies with a minimum viable product
- Startups seeking strategic decisions and growth
- Businesses needing mentorship from experienced professionals
- Firms interested in accessing workshops with legal, tax, and financial experts
- Organizations looking for exclusive financing sources and trade mission opportunities
grant_single_labels|register
- Step 1
- Consult the FAQ or attend an information session to understand program details and eligibility criteria.
- Step 2
- Prepare application documents (business description, minimum viable product, demonstrated traction, etc.).
- Step 3
- Access the online application form on the Zú website.
- Step 4
- Complete the online application form, providing all requested information and documents.
- Step 5
- Submit the application by the deadline indicated.
- Step 6
- Wait for confirmation of receipt and evaluation of application by Zú team.
- Step 7
- Participate in any additional interviews or meetings requested by Zú to complete the assessment.
- Step 8
- Receive Zú's final decision regarding acceptance or rejection of the application.
- Step 9
- If accepted, pay the annual administrative fee of $3,700 and, if applicable, additional fees for companies outside Quebec.
- Step 10
- Start the incubation program and participate in meetings with mentors and various workshops and activities.
grant_single_labels|otherInfo
The incubation program from Zú offers a comprehensive support framework for companies with a minimum viable product, enabling access to mentoring and various business development services.
- Access to tools tailored to help develop business and ensure commercial success.
- Workshops and meetings with professional experts in legal, tax, and financial matters.
- A dedicated Creative Industries Group advisor from National Bank for each business.
- Monthly pitch clinics provided.
- Opportunity to participate in innovation challenges of the Innovation Circle members.
- Exclusive financing sources for companies supported by an incubator.
- Support for internationalization and the opportunity to participate in trade missions.
- Privileged access to residencies at the TELUS 5G Innovation Lab.
- 5 hours of meeting space and access to workspaces in the Zú Atrium.
- Preferred access to Zú events and exclusive community offerings.
Apply to this program
Zú Incubation Program: Empowering Startups for Commercial Success
The Zú Incubation Program provides support to startups with a minimum viable product, leveraging the MIT Venture Mentoring Service methodology. The program offers team mentoring, access to expert workshops, financing sources, and various tools aimed at developing entrepreneurs and ensuring their commercial success.
Detailed Overview of the Zú Incubation Program
The Zú Incubation Program stands out as an exceptional opportunity for startups looking to propel their business towards commercial success. Rooted in methodological rigor and a framework inspired by the Massachusetts Institute of Technology (MIT) Venture Mentoring Service, this program offers a plethora of benefits aimed at nurturing entrepreneurs in the creative industries. In this detailed overview, we will explore the various components and advantages of the Zú Incubation Program, illustrating why it is a valuable resource for startups at the minimum viable product stage.
The Foundation: MIT Venture Mentoring Service Methodology
The cornerstone of the Zú Incubation Program is its adoption of the MIT Venture Mentoring Service (VMS) methodology. Developed by one of the world’s leading institutions for entrepreneurship and technological innovation, the VMS framework is built on principles of educational mentorship, conflict-free guidance, and absolute confidentiality. This methodology is designed to provide structured support through team-based mentoring, ensuring entrepreneurs receive well-rounded advice from multiple experts simultaneously.
Team Mentoring: Diverse Perspectives for Informed Decision-Making
Central to the program is the team mentoring approach, where each incubated company is paired with three mentors who possess complementary expertise and extensive experience. These mentors meet with the startup on a monthly basis, collectively offering strategic guidance and actionable insights. The team mentoring model accelerates decision-making processes and facilitates effective action plans in response to specific business challenges.
A Network of Seasoned Mentors
The mentors in the Zú Incubation Program are meticulously selected based on their professional backgrounds and peer referrals. With a wealth of business experience and senior executive roles, these mentors provide invaluable perspectives that are crucial for startups aiming to navigate the complex commercial landscape. This network of mentors is not just a source of advice but also an entry point into a broader ecosystem of contacts, resources, and opportunities.
Comprehensive Services for Entrepreneurs
A distinct advantage of the Zú Incubation Program is its comprehensive suite of services tailored to meet the diverse needs of entrepreneurs. The program goes beyond mere mentoring by providing access to a range of tools and resources designed to bolster business development. These services include:
- Workshops and Meetings with Professional Experts: Monthly workshops and meetings with experts in legal, tax, financial, and other domains are part of the program. These sessions are critical for entrepreneurs to gain specialized knowledge that can aid in resolving specific business issues.
- Creative Industries Group Advisor from National Bank: Each startup is paired with an advisor from National Bank's Creative Industries Group who offers dedicated support, helping to navigate financial strategies and funding opportunities.
- Monthly Pitch Clinics: Regular pitch clinics are held to refine and perfect business pitches. These clinics provide constructive feedback from seasoned professionals, enhancing the startup’s ability to attract investors and partners.
- Innovation Challenges: Participation in innovation challenges organized by the Innovation Circle members offers startups a platform to showcase their innovations and gain exposure to potential investors and collaborators.
- Exclusive Financing Sources: Startups supported by the incubator gain access to exclusive financing sources which are not readily available to others, providing a competitive edge in securing capital.
- Internationalization Support and Trade Missions: The program offers guidance on international expansion and opportunities to participate in trade missions, helping startups enter and thrive in new markets.
- 5G Lab Residencies: Privileged access to residencies at the TELUS 5G Innovation Lab allows startups to experiment and innovate with cutting-edge 5G technology, fostering technological advancements.
- Meeting and Work Spaces: An allocation of five hours of meeting spaces and access to workspaces in the Zú Atrium provide a professional environment for conducting business activities and collaborations.
- Community and Networking Events: Startups receive preferred access to Zú events and exclusive community offerings, fostering a collaborative environment that encourages networking and partnership building.
Application Process
The Zú Incubation Program is open to companies that have developed a minimum viable product and are eager to scale their business. The application process involves several steps:
- Pre-Application: Interested startups should visit the Zú program’s web page to review the eligibility criteria and application requirements.
- Submission: The application form can be filled out online, detailing the startup’s business model, products, team, and growth potential.
- Evaluation: Applications are evaluated by a panel of experts who assess the viability, innovation, and potential impact of the startup’s product or service.
- Interview: Shortlisted candidates are invited for an interview, where they present their business proposition and vision to the selection committee.
- Selection: Successful applicants are notified and inducted into the incubation program, starting their journey with Zú.
Conclusion
The Zú Incubation Program offers an unparalleled opportunity for startups with a minimum viable product to accelerate their business growth through structured mentoring, expert workshops, and exclusive resources. By leveraging the proven MIT VMS methodology, the program ensures a holistic support system free from conflicts of interest and deeply rooted in confidentiality. The diverse services provided, from pitch clinics to internationalization support, empower entrepreneurs to navigate their entrepreneurial journey with confidence and innovation. For startups ready to take the next step in their commercial journey, the Zú Incubation Program is a gateway to success and a strategic partner in achieving long-term business objectives.
