FounderFuel, a wonderful and successful accelerator fund take it upon themselves to select and develop entrepreneurial teams over a 12 week period in order to prepare them for the funding process. The firm supports entrepreneurs through a mentor based system along with seed funding and access to influential angel investors and VCs. According to company, they will graduate another 11 start-up teams today at the Monument National to a crowd that includes venture capitalists and investors from San Francisco, Boston, New York as well as Canadian cities Montreal, Toronto and Vancouver.
The selected teams, hailing from cities and ports all across this great nation of ours have been well groomed by the Montreal incubator, which had a similar class graduate last year with 4 of those teams raising a combined $2.5 million as of today. These graduates uproot and take part in the 12 week camp, fully immersing themselves in learning and working environments that are conducive of innovation and improvement.
Once the 11 start-ups have had their chance to convey themselves to the 500+ people in attendance, the group will be short-listed by the Business Development Bank and FounderFuel themselves to determine which ones are considered “venture-ready”. These parties will receive a $150K convertible note from the Business Development Bank of Canada.
FounderFuel is taking applications for the next group of cohorts to aid another wave of entrepreneurs in achieving their goals. You can apply online via their website until June 22, 2012. In order to apply, you must be comprised of a team (2 or more people), be developing everything in-house and be dedicated to the business full time with the ability to reside in Montreal for a 12 week period.
The graduates of this term’s cohort include the following:
The City of Ottawa Will be a More Wi-Fi Friendly Place Come Summer
Facebook Looking to Relocate to New Exchange?
Lunches So Good Kids Can’t Ignore Them
Invigorating Ginger Smoothie
The U.K.’s Youngest Parents Ever
The new hair Jennifer Lawrence