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The Western Accelerator Summer Program

May 4 - Jul 31 | London, ON, Canada

http://uwo.ca/accelerator

About this Program

The Western Accelerator Summer Program is an opportunity for early-stage startups to accelerate the growth of their business. Over the course of 12 weeks, teams accepted into the program will receive education and training on how to grow from a minimum viable product (MVP) to being sales-ready. 

Who we are

Launched in January 2017, the Western Accelerator provides an intense, rapid and immersive education for prospective entrepreneurs. Our goal is to accelerate the life cycle of high potential ventures and to compress a year’s worth of learning into a few months for our entrepreneurs.

The Western Accelerator is a critical component of the cross-campus Western Entrepreneurship ecosystem and is open to Western students, faculty, and recent alumni with an expectation of a full-time commitment.

What to Expect

During their time in the accelerator, teams can expect:

• Weekly Programming: half-day educational sessions on leadership, sales, investors, pitch skills, etc. as well as mentoring sessions with successful entrepreneurs
• Join networking events with successful entrepreneurs, industry experts, investors and service providers
• Participate in “Demo Day” at the end of program—a dynamic event where teams deliver their idea and business plans to an audience from the local entrepreneurship, business and investment communities
• Monthly milestone meetings to discuss your progress and to set goals for the upcoming month
• Receive a $2,500 per month stipend
• Receive up to $500 to cover the costs of creating a trade show booth
• Receive up to $1,500 to cover travel costs associated with growing your business
• The opportunity to apply for the MITACS Entrepreneur International Program

As part of your Western Accelerator experience, you can expect to participate in a weekly workshop that will give you the education and real-world feedback that you need to launch your business. Workshop topics can include:

• Create Your Vision
• Early Adopters
• Value Proposition
• SEO Bootcamp
• Pitch Workshops
• Leadership
• Setup Your Accounting
• Social Media Planning
• Facebook Ads
• B2C Sales
• Trade Shows and Markets

Eligibility Requirements

We look for teams who have a high potential to scale and who meet the following criteria:

Accepted teams must:

• Have at least one founder must have a connection to Western (Student, Faculty, Staff or Alumni) 
• Must be willing to contribute a full-time effort (Monday to Thursday from 10 a.m. to 3 p.m.) 
• Must operate their business from Propel Entrepreneurship Centre for the duration of the program (May 4, 2020 to July 31, 2020) 
• Must have decision-making ability 
• Must participate in all Western Accelerator events, workshops and competitions throughout the program duration.

What we look for

We look for startups who have a minimum viable product; something that is ready to be tested and validated by potential customers. If you are still in the idea or build stage, you may not be a good fit for the Accelerator yet. Teams who are in early stages can find great resources available for you at Western’s Propel Entrepreneurship Centre.

Competitive applications for the Accelerator are startups who have high potential to scale (i.e. have IP and/or have a clear competitive advantage addressing a large potential market). We also look for a founding team who have the skills, ability and determination to launch their product offering into the market.

Technology Readiness

Teams applying to the Accelerator should have a functioning prototype or minimum viable product (MVP) that can be offered to their customers.

You don’t have to have every feature or offering built and ready to sell. In fact, we encourage you to test your MVP early and often so you can build and shape your business based on customer feedback.

Application Process

Entrance to the Accelerator is a competitive process. We accept 8-10 teams for the summer program.

There are three parts to the application to the Western Accelerator Summer Program.

Stage 1 - All teams are required to submit a written application that consists of:

1. Write a one-page letter stating why you believe you will benefit from
participation in the Western Accelerator and how you will contribute to
others success.

2. Create a 10-page slide deck to describe your business. Please follow the
guidelines prescribed by Guy Kawasaki here: http://guykawasaki.com/theonly-
10-slides-you-need-in-your-pitch/

3. A 60 second video of you pitching your business. Production quality is not important! Please feel free to use your phone to record your pitch. We are looking for people who are passionate about their idea.

Stage 2 - Applications are reviewed, and the top ranked teams will have the opportunity to pitch their business to a selection committee. Each team has 10 minutes to pitch their startup, followed by 5 minutes of Q&A.

Apply Now!

Funding Information

  • Funds up to $8k per team
  • Takes up to 0.0% equity
  • Accepts 10 companies

Industries

Business Products, Business Services, Computers and Peripherals, Consumer Products, Consumer Services + 4 more