Maurice
Posted: February 4, 2022

Amount:

$120,000

Type of Program:

Investment


Description:

FounderFuel works with companies across sectors that are using technology and business model innovation to create value in large markets. Their 4-month intensive program is supported by a network of seasoned startup founders, entrepreneurs, investors, and executives as well as the entire Real Ventures team. The program culminates with Canada’s largest Demo Day. 

Comments on Funding:

Funding is $120,000 CAD for each company that participates in the program. This investment is split into two parts:  

  • $20,000 is invested for 5% of the company’s common shares,
  • $100,000 is invested in a SAFE with a $3.5 million cap and 20% discount. In cases where a company has already raised funds at a higher price or cap, FounderFuel will adjust the terms of the $100,000 investment to match those terms.

When It Ends:

Ongoing

Deadline:

Next deadlines to be determined

Eligibility:

Applicants must:

  • Be early-stage start-ups
  • be companies across all sectors that are using technology and business-model innovation to create value in large markets (FounderFuel focuses primarily on companies that have software and data as part of their core technology.),
  • be a founding team of at least two people with at least one technical co-founder, open to coaching and personal development,
  • have all key members committed full-time,
  • have their founders based in Montreal for the duration of the program. Typically, FounderFuel is hosted at Notman House, in downtown Montreal, but the 2020 program was all virtual.

Other Things to Note:

The next program will run in the fall of 2021.
Applications will close 4 weeks after they open.

  1. 1
    "Applications for the 2021 cohort will open this fall!" Considering the program is running every year since 2011, there is a high chance to continue in 2022. Check their website for updates.
  2. 2
    Applications will close 4 weeks after they open.
  3. 3
    FounderFuel is a mentor-driven accelerator, focusing on leadership development and growth to help early-stage startups make meaningful progress on the venture path.

Testimonials:

About the author 

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.

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