Fredericton-based Energia Ventures, a smart grid, cleantech, and cybersecurity accelerator, is now accepting applications for its third cohort.
Energia’s program, an offshoot of the University of New Brunswick’s Technology Management and Entrepreneurship program, will run from September 3 to November 28.
“The end goal is to create stable, high-growth potential companies worthy of venture capital investments.”
The program ends in a demo day, where the cohort can pitch their businesses and display their products to industry leaders, investors, and partner companies from the region. Participants in this program will receive advisement, mentoring, educational programming, business support, and funding to develop their venture.
“Energia offers early-stage companies the mentorship, guidance, support and access to investors to truly accelerate their business,” said Joe Allen, the managing director for accelerators at the J. Herbert Smith Centre at the University of New Brunswick. “The end goal is to create stable, high-growth potential companies worthy of venture capital investments on a compressed timeline.”
The program provides companies access to more than 85,000 University of New Brunswick alumni living around the world. Energia Ventures is also a member of GAN, an organization that runs more than 100 accelerators in 120 cities across the globe. Although the program is provided without cost, the accelerator provides seed funding in exchange for equity.
RELATED: Fredericton-based Eigen Innovations receives $800,000 government funding
Fredericton has recently gained traction for its innovation district, with 60 research and development organizations all within a two-kilometre radius. Last year, the city saw an increase of venture capital deals and dollars, claiming a spot as one of Canada’s top five tech markets in PwC’s MoneyTree report for Q3 2018. It was the first time New Brunswick’s capital city had made it onto the list since CB Insights began collecting MoneyTree data in 2012.
The city has also seen several high-profile exits in the last decade, including Q1 Labs’ sale to IBM for a reported $600 million, and Radian6’s acquisition by Salesforce for $326 million USD. Local success stories like Resson, Chinova Bioworks, and Stash Energy were either founded or had their founders come out of the University of New Brunswick. Energia Ventures accelerator program graduates also includes Beauceron Security, which raised $500,000 in June 2017.
Applicants should be based in Fredericton during the program’s runtime, but Energia stated that it will help locate accommodations and assist with visas for any international applicants. More information about the application process can be found at F6S, an online platform that connects startups with programs and funders. The deadline for applications is July 19.
Image courtesy Energia Ventures
