Startup Zone Accelerator Program
Highlights
This program is perfect for your business because it offers a wide range of resources and support to help you grow. You get access to in-kind office hours support, in-house mentoring, and business specialists. This means you can get expert advice on legal, accounting, and market intelligence without any additional cost. Plus, you can join a vibrant community of over 300 entrepreneurs through our online Slack community, giving you valuable networking opportunities.
What You Get:
- 24/7 access to workspace
- Free access to in-person and online events
- Discounts on telecommunications and office supplies
- Investment and loan support from experts
By being approved, you will have the tools and support to scale your business efficiently. The application process is straightforward, and we accept applications on an ongoing basis. This program is designed to be accessible and beneficial, making it easier for you to focus on what you do best—growing your business.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed rate of 3% per annum.
Eligible Expenses:
- Equipment purchases.
- Leasehold improvements.
- Intangible assets.
- Working capital.
Ineligible Expenses:
- Personal expenses.
- Real estate purchases.
- Debt refinancing.
Fees:
- Application Fee: $150.
- Processing Fee: 1% of the loan amount.
- Annual Maintenance Fee: $100.
Qualifications
- Business must be operating in Prince Edward Island.
- Must have high growth potential.
- Open to companies from various sectors including tech, wellness, food, apparel, and social enterprise.
Applications accepted on an ongoing basis.
Disqualifications:
- None specified.
Description
This program offers a great opportunity for your business to grow and thrive. You can access a range of resources and support tailored to help you succeed. These resources include in-kind office hours with sponsors and community partners, in-house mentoring, and business specialists. You will also get free access to events, both in-person and online, and 24/7 access to workspace.
You can benefit from growth coaching, legal support, and accounting support at no additional cost. This means you can get expert advice on your business goals, legal questions, and accounting needs without worrying about extra fees. Additionally, you can join a Slack community with over 300 entrepreneurs to network and share insights.
Moreover, the program provides market intelligence services, discounts on telecommunications, and office space and supplies. You can also take advantage of investment supports, loan options, and wage subsidies. These benefits are designed to help you manage your finances, expand your network, and grow your business efficiently.
Program Steps
Complete the Online Application Form: Visit the Startup Zone website and fill out the online application form for the Start and Grow Residency Programs.
Prepare Documentation: Gather the necessary documents to support your application. These may include:
- Business Plan
- Financial Statements
- Proof of Business Registration
- Identification Documents for Business Owners
- Any relevant market research or data
Submit Supporting Documents: Upload the prepared documents to the online application portal or send them via email to the designated contact person.
Schedule an Interview: After submitting your application, schedule an interview with the Startup Zone team. This interview will help them understand your business goals and how the program can support you.
Review Program Details: Familiarize yourself with the resources and support available through the Startup Zone, such as in-kind office hours, mentoring, networking events, and access to workspace.
Attend the Interview: Participate in the scheduled interview to discuss your business, its growth potential, and how the Startup Zone can assist you.
Await Decision: Wait for the Startup Zone team to review your application and interview. They will notify you of their decision and any next steps.
Onboarding Process: If accepted, complete the onboarding process, which may include signing agreements, setting up your workspace, and integrating into the Startup Zone community.
Engage with Resources: Start utilizing the available resources, including growth coaching, legal and accounting support, educational tools, and community access.
Participate in Events: Engage in in-person and online events, networking opportunities, and other activities offered by the Startup Zone to maximize your business growth and development.