The hybrid accelerator program will provide Canadian startups with acceleration time in both Calgary and Silicon Valley and access to over 180 Silicon Valley venture capital firms and angel investors such as Accel Partners and Sand Hill Angels, world class entrepreneurs from companies such as YouTube and Skype, and a community of leading universities and corporate partners.
Plug and Play Accelerator Canada will be launched in two phases.
Phase one includes a 10 week acceleration program in the Valley starting on June 18 that includes structured workshops, speaker series, mentorship sessions and active coaching.
Phase two consists of a six-month Canada-Silicon Valley hybrid acceleration program starting mid-September. This Canadian portion will be held in Calgary, where the startups will participate in a Startup MBA curriculum comprised of weekly courses on topics including market discovery, business model design, pitching and raising capital (more advanced startups or those who have been through other accelerator programs have the option to skip the Canadian element).
Qualified participants are eligible to receive an investment of $25,000 upon acceptance into the program with opportunities for follow on investments. There will be a demo days in both Calgary and Silicon Valley.
“The Canadian government ranks Calgary as having the highest number of tech startups per capita. That coupled with a highly educated and motivated work force, strong tech ecosystem, low health care costs, better labor and facility rates, easily available government grants (in excess of $5 billion annually) and a quick flight between Calgary and the Valley, makes Calgarian startups quite intriguing to Silicon Valley VCs,” says Alex Popa, Founder and Partner at Boast Capital. “We have some great success stories like Veer, Stumbleupon and iStockphoto to name a few. Our goal is to have many such successes by building a world class tech ecosystem in Calgary and driving startups from around the world to move here.”