Scaling startups have until Friday to apply for the BC Tech Association’s HyperGrowth 3.0 accelerator program.
HyperGrowth is looking for three to five high-potential, BC-based tech companies that make $250,000 to $2 million ARR, and preparing for the next stage of growth. The accelerator said it is BC’s only program which helps “Stage 2” startups grow to unicorns.
“HyperGrowth is a unique platform for high potential companies,” said Bill Tam, president and CEO of BC Tech. “Unlike our larger community programs, HyperGrowth is not for everyone. It’s designed to support companies with an accelerated growth-rate. Not every tech company can become BuildDirect or Hootsuite, but our goal is to nurture the up-and-coming companies that can.”
For six months, the companies will be immersed in a residency program that assists them in building comprehensive sales, marketing, and financial strategies. They’re also connected with advisors and CEOs from Vancouver’s leading tech companies.
HyperGrowth is just one of several industry players in the province working to grow the tech industry. In October, the BC government announced that its $100 million BC Tech Fund would be managed by Toronto-based firm Kensington Capital Partners. In February, the BC government made a commitment to invest in the future of the industry with $87 million in its tech strategy.
“With a vibrant and diverse community of tech companies, it’s up to us to take full advantage of the networks and collaborations already in place and strategically invest in making BC one of the top technology ecosystems in the world,” Tam said in October.
One of the scaling challenges that BC — and the rest of Canada — struggles with is access to talent.
Mentorship from experienced CEOs is a part of helping companies tackle this challenge, and one that both HyperGrowth and scale-focused accelerators like Lazardis Institute employ.
Tech companies that have completed HyperGrowth’s program include HeadCheck Health, which collects data for athletes; Navigate Surgical Technologies, which develops motion tracking tech targeted at the dental market; and ViewsIQ, which uses a cloud-based sharing platform.
Those interested have until March 31 to apply.
Photo by Government of British Colombia.