iNovia Capital, Business Development Bank of Canada and BlackBerry Partners Fund Launch GrowLab
iNovia Capital, the Business Development Bank of Canada and BlackBerry Partners Fund have launched a Vancouver- and San Francisco-based accelerator program.
A “startup boot camp” for entrepreneurs, GrowLab will provide companies with up to $25,000 in seed funding, four months of mentorship, free office space and the opportunity to pitch investors for follow-on funding.
The camp, which was founded by Boris Wertz and Jason Bailey, and is led by Executive Director Michael Tippett, will be based in Vancouver for the first three months. The fourth month will be spent in San Francisco.
GrowLab, which is now accepting applications for its fall program at www.growlab.ca, also intends to enter into a strategic partnership with BDC Venture Capital in which BDC will offer certain graduates of the accelerator program up to $150,000 in follow-on convertible debt financing to fund their action plans.
Other investors include the VC funds Rho Canada, Mohr Davidow Ventures, Growth Works and Yaletown Venture Partners, and angel investors Chris Albinson and Mike Edwards.