This week, Founder Institute Toronto graduated 17 new startups in its fourth cohort after spending four months in its accelerator.
“What sets us apart is the mentor CEOs — we have assembled the best group of tech founders who donate their time and experience to help new founders do the right things from the onset,” said Sunil Sharma, the director of Founder Institute chapters in both Toronto and Waterloo and a partner with Extreme Venture Partners.
Founder Institute mentors include CEOs of companies like Borrowell, Flixel, Statflo, Wattpad, and Hubba. At the start of the program in March, 68 startups were accepted, but either dropped out or were asked to leave based on performance.
“As happy as I am to see these companies graduate, I am just as pleased by the founders who have decided to abandon their startups,” said Sharma. “Being a startup founder has become the common thing to do — but its a lot harder than people realize and its too east to get caught up in the buzz even at the cost of otherwise great careers and well-paying jobs.”
One of the graduates included Overbond, which managed to achieve significant milestone before its graduation — last week, the company raised a $6.7 million seed round.