Two accelerator programs, IDEABOOST and Volta, have opened applications for their 2019 cohorts.
Toronto-based CFC Media Lab’s media and technology accelerator, IDEABOOST, is accepting submissions for its eighth cohort. IDEABOOST is looking for growth-oriented Canadian startups building technology platforms, products, and brands for the media and entertainment industry.
The four-month bootcamp is designed with a curriculum created for six media-focused startups.
Factors for consideration include: clear articulation of product vision and the problem being solved, size of market, as well as quality and track record of the team, market traction & growth potential. Co-productions and joint ventures between Canadian and non-Canadian companies are eligible, provided that the Canadian team member is the one who submits the application to IDEABOOST.
The accelerator’s seven previous cohorts, which is made up of early-stage, pre-market startups, have generated a total of $8.65 million in new product sales. The accelerator has 95 supported businesses, formed 89 new partnerships, which have produced 58 new commercialized products.
The four-month bootcamp is designed with a curriculum created for six media-focused startups and powered by a team of mentors, executives, and investors. IDEABOOST will provide up to $35,000 in seed funding to each company in the accelerator, as well as a host of benefits from partners and the Global Accelerator Network, which IDEABOOST joined in 2015. The accelerator’s funding is provided by a consortium of public and private partners. The deadline for applications is March 11.
Volta, a Halifax-based accelerator, has also opened applications for its fourth cohort pitching competition, with a pledged investment of up to $25,000 to each winner. Its cohorts began in 2017 to provide pre-seed funding for early-stage companies, and has since granted a total of $400,000 to 16 ventures.
“A big part of developing a strong entrepreneurial ecosystem in Atlantic Canada is increasing opportunities for early-stage innovation-driven startups that have potential to scale,” Jesse Rodgers, Volta’s CEO, told Entrevestor. “Volta cohort aims to support these companies so, in turn, they can develop products that reach global markets, generate jobs that attract and retain talent, and establish the region as a global destination for innovation.”
Selected finalists will pitch at an event held in May, and up to five winners will receive investment from a fund backed by Volta as well as Innovacorp, BDC Capital, and the Atlantic Canada Opportunities Agency. Along with investment, Volta will offer the cohort companies workspace, programming assistance, and mentorship. The board will meet each company every two months to offer support, advice, and a check on its milestones.
The competition is only open to companies in Atlantic Canada, but Volta will work with partner organizations in various cities to ensure support is available for companies located outside of Halifax. The deadline for applications is April 3.