If you're a start up, it's time to buckle up! Communitech's Hyperdrive program is a place for Canadian tech startups to experience a new innovative avenue to scale their businesses faster and achieve market success. If you're a breakout performer, we're more than happy to put $700K in your hands, backed by our $30M program. We are focused on building early-stage tech startups from “Seed to Series A” VC funded companies. Our program features leading investors, world-class mentors, international soft landings, and full lifecycle support.
We're about enabling more Canadian-growth tech companies to launch and succeed. Once admitted into the program, Hyperdrive is committed to the success of your company, for the lifetime of your company. We are open to all early stage tech companies from any geographical region, with the expectation that companies will locate to Canada’s top technology hub in Waterloo, Region to participate in the three-month sprint portion of the program. It's all about kicking Canadian tech up a notch with invaluable resources and experiences.
Here is how it works: Three times a year 10 companies will be chosen from a pool of applicants from all over the world.
- Successful entrants can expect a three month sprint with a focus on customer and market validation.
- Hands on guidance from a world-class network of mentors for up to 24 months
- One week in New York City during the three month sprint, where companies will meet US funders, partners and potential customers
- Additional soft landing opportunities in foreign markets
- In-kind program support of $100,000 per company, including legal and accounting services
- Access to Canada’s top Angels, VCs, and other funders
- Demo days and chances to pitch to top tech investors
- Our program includes the following funding structure:
- Initial funding of $55,000 (equity + loan)
- $150,000 convertible note on successful completion of three-month sprint
- $500,000 from leading VCs when ready to scale at 4 month intervals throughout the 24 month program
The First- Intake to our Program:
April 17th: Applications Open
June 4th: Applications Close
June 6-June 22nd: Interviews with Selection Committee
July 3rd: Three month sprint begins
October 11th: Sprint ends
October 11th: Demo Day
Hyperdrive has curated over 60 world-class advisers to help build your business.
Our mentor network includes: Executives-in-Residence with their own records of success, industry leaders, subject experts, established entrepreneurs, service providers, and investors ready to share real-world business experience.
Our partners include Canrock Ventures, Canadian Youth Business Foundation, Business Development Bank of Canada (BDC), Research in Motion (Blackberry), OMERS Ventures, iNovia Capital, and Rho Canada Ventures.
For more details about the application process, check out our site, or follow us on Twitter @hyperdrive151