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Canada's Startup Accelerators: A Closer Look

CANADA'S STARTUP ACCELERATORS A CLOSER LOOK In just three years, Canada has seen dozens of accelerators and accelerator-like programs emerge. While there's been lots of talk - and some debate - about their value and contribution to the startup community, new research by MARS Data Catalyst provides a fact-based foundation for discussion. Here are some highlights from our research. LANDSCAPE Canada hosts seven 'true' accelerators, located in Vancouver, Waterloo, Toronto and Montreal. Accelerators have a competitive application process, accept startup teams in small cohorts, provide investment in exchange for equity, and offer structured programs and mentoring. Another twenty programs are currently operating, all with some variation or variations on the accelerator model. Extreme Startups 2011 INcubes 2011 JOLT 2012 UTEST 2011 GrowLab 2011 FounderFuel 2011 HYPERDRIVE 2012 BY THE NUMBERS By definition, accelerators provide seed funding in exchange for equity (typically $50K for 6% to 8% equity), but the Canadian ecosystem offers startups several options from which to choose. 41% 37% NO FEE, NO FUNDING OFFER FUNDING FOR EQUITY 27 ACCELERATOR AND ACCELERATOR-LIKE PROGRAMS 11% 11% OPTIONAL OR CHARGE A FEE UNDISCLOSED ECOSYSTEM Canada's accelerators draw on a rich ecosystem for financial support and expertise, comprising mentors, sponsors and partners. In turn, they offer programs to nurture promising startups and entrepreneurs. 200 STARTUPS 800+ 420 FOUNDERS MENTORS 375+ SPONSORS / PARTNERS 27 PROGRAMS SELECTION PROCESS What are the odds of being selected? Canada's top accelerators receive hundreds of applications, shortlist 10-15% on average, conduct in-depth interviews and then select five to 10 startups for each cohort. UP TO 400 APPLICANTS 5 STARTUPS ACCEPTED 40 SHORTLISTED 25 INTERVIEWED OUTCOMES What's in store for startups after Demo Day? While it's too early to predict the future for today's graduates, there are four types of outcomes emerging from the data. ACQUIRED INVESTMENT GROWTH FAST FAILURE *:::CREATIVE .. DESTRUCTION AGrowLab FounderFuel FounderFuel Vuru O Learndot OPLAYER TAKES ALL THALMICLABS Accelerated by Formerly Matygo, Learndot - a customer, Accelerated by FounderFuel In fall 2011, PlayerTakesAll - a viral campaign and referral management Founded by a 2012 Next 36 alumnus and FounderFuel in fall 2011, Vuru - a stock accelerated by partner and team training platform - was accelerated by GrowLab in fall 2011. The company credits GrowLab with helping research and Creative Destruction investment tracking Lab since fall 2012, application - was Thalmic Labs - with a platform - closed shop acquired by Wave Accounting (since in 2012. The founders have since gone on to launch a new startup. gesture-control armband as their first product - then joined and graduated from Y Combinator. It just renamed Wave) them pivot from a university and casual learning focus to the in August 2012 for an undisclosed amount. The founders moved raised a $14.5M Series enterprise, corporate to Toronto to work A round of venture customer during the program and is now out of private beta and open to the public. for Wave. capital investment. MaRS Data Catalyst To learn more about Canada's accelerators and review the data used in this infographic, see the full report: Seeding Success: Canada's Startup Accelerators. TEXT: Elizabeth Caley DESIGN: Justin Godard 2013

Canada's Startup Accelerators: A Closer Look

shared by justingodard on Jun 07
In just three years, Canada has seen dozens of accelerators and accelerator-like programs emerge. Here are some highlights from some research on accelerators done by MaRS Data Catalyst.


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