Accelerate Okanagan — Venture Acceleration Program
Highlights
This program is designed specifically for entrepreneurs like you who are ready to grow their business. It offers a comprehensive range of resources, in-house experts, and accelerator programs to support your journey from startup to scale-up. By applying, you gain access to valuable mentorship, training, and a community of like-minded business owners.
Why Apply?
- Expert Guidance: One-on-one mentorship to help navigate challenges and seize opportunities.
- Comprehensive Training: Learn essential skills from startup basics to advanced market strategies.
- Networking Opportunities: Build lasting relationships with peers and industry experts.
Key Benefits
- Flexible Financing: Access to capital-focused programs to prepare for investment.
- Market Readiness: Intensive programs to refine your go-to-market strategy and connect with customers.
- Intellectual Property Support: Protect and leverage your IP with specialized guidance.
The program is structured to be easy to qualify for, ensuring you can focus on what matters most—growing your business. Apply now to take advantage of this unique opportunity to accelerate your business success.
Financing Details
Type of Financing: Loan
Repayment Terms:
- Repayment term of up to 15 years.
- Interest rates vary based on the repayment option chosen.
- Options include floating rate with principal plus interest payments, floating rate with blended payments, and fixed rate with principal plus interest payments or blended payments.
Eligible Expenses:
- Funds can be used for equipment, leasehold improvements, intangible assets, and working capital.
- Specific allocation of up to $500,000 for equipment, leasehold improvements, and intangible assets, and up to $150,000 for working capital.
Ineligible Expenses:
- Funds cannot be used for personal expenses or to refinance existing debt.
Fees:
- Document preparation fee of $175.
- Application fee of $100.
- One-time Federal Government registration fee of 2% of the loan amount, which can be financed.
- Administration fee of 1.25%, included in the interest rate.
Qualifications
- Must be an entrepreneur ready to grow their business.
- Business must be in the startup phase or scaling up.
- Must be committed to participating in a six-month program.
- Must be willing to engage in one-on-one mentorship.
Business must be located in the Okanagan region.
- Disqualifications:
- Businesses not located in the Okanagan region.
Description
This program offers one-on-one business coaching, entrepreneurial training, and exclusive services to help you through the startup process.
You will gain access to in-house experts and accelerator programs designed to support your business growth. Whether you are just starting out or looking to scale up, these resources are tailored to meet your needs.
By participating, you can expect to build valuable relationships with peers and mentors, enhancing both your business knowledge and network. This program is a great opportunity to accelerate your business development and achieve your entrepreneurial goals.
Program Steps
Create an Account:
- Visit the Accelerate Okanagan website and create an account if you do not already have one.
Complete the Online Application Form:
- Navigate to the General Programs Application Form and fill out the required fields.
Prepare Documentation:
- Gather the following documents to support your application:
- Business Plan
- Financial Statements (last two years)
- Proof of Business Registration
- Identification Documents (e.g., passport, driver’s license)
- Any relevant market research or validation reports
- Gather the following documents to support your application:
Submit Documentation:
- Upload the prepared documentation to the online application form where prompted.
Review and Confirm:
- Carefully review all the information and documents you have provided to ensure accuracy.
- Confirm that all required fields and documents are completed and attached.
Submit Application:
- Click the submit button to finalize your application.
- You will receive a confirmation email once your application has been successfully submitted.
Follow Up:
- Monitor your email for any follow-up requests or additional information needed from the program administrators.
- Be prepared to provide any additional documentation or clarification if requested.
Await Decision:
- Wait for the program administrators to review your application.
- You will be notified of the decision via email.
Prepare for Next Steps:
- If accepted, follow the instructions provided in the acceptance email to begin participating in the program.