10. What’s the difference?
Accelerators Incubators
• Private sector driven • Government driven
• Short intensive 3-6 month • Less emphasis on
program time, pressure and intensity
• All can apply • Typically academic focus
• Large mentor Driven Network • Small mentor driven network
• Extremely selective • Many accepted
• Applies “lean startup” • Applies “management”
methodology methodology
11. open and highly competitive
application process
pre-seed investment in exchange
for equity
focus on founder & team
time-sensitive support through
is… intensive mentoring and events
start-ups supported in cohorts
12. In a sentence…
The Propel Accelerator is a cohort-
based accelerator program for early
stage technology entrepreneurs to
increase their chances of long-term
success by providing an early
opportunity to
funding, mentorship, knowledge, and
support.
13. a. Startup applicants apply to
participate in a Accelerator
Bootcamp and Mentor Day
b. Each applicant is assessed for
Accelerator fit by a panel of
entrepreneurs and investors based
on quality of the team, business
opportunity and growth potential
c. propel invites high growth potential
teams to follow a rigorous
Accelerator mentorship program for
the a,b,c’s of… 5-months to launch a minimum
viable product
14.
15. THE RIGHT STUFF
have a technology focused
idea/concept
can be a new or early stage startup
preferably B2B focus on SaaS, mobile
or enterprise social networking
no business plan required
no age restrictions
no geographic limitation
willing to commit to weekly in-person
meetings for a period of 5-months
16. • Bootcamp
Build • Demo Day
• Mentor Day • Mentorship
program
Shape Launch
Started in Feb of 2011Met with stakeholders across the provinceSpoke with other accelerators:Techstars, GrowLabs and Year One LabsConclusions, next slide…
Propel Accelerator needed to rethink its biz modelConducted a biz model workshopWe met with stakeholders to validate some assumptionsWe looked at our royalty model and the perception attached to itWe needed to clarify our value-addWe needed to figure out how to leverage our partnersImprove collaboration between accelerator companiesWe need to better maximize the value and time of our mentorsWE NEEDED A SCALABLE PROGRAM
SEED: Long term objective, currently being served through our funding partnersCould be a flat fee model or a royalty
If we looked up propel Accelerator in a dictionairy, what would it say…
Let’s break it down…
What/who are we looking for?Emphasize determination
What the Acceleration looks like3 key phasess
Objectives:Provide training to foundersEstablish a common language and expectations with founders at an early stageIdentify key challenges founders will faace early onDetermine if the founders are the right fit for Propel and vice versaWHAT IS YOUR SECRET SAUCE?
Lean StartupValidated LearningLeverage key partners for delivery
Practice makes perfect!Propel network affiliates:ParternesMentorsAngels, VC’sMediaMom and Dad
