Deadline:
As soon as possible
Location(s)
Canada
Notman House, Montreal
Overview
FounderFuel is a mentor-driven venture accelerator that helps early-stage startups make meaningful progress on the venture path. Backed by Real Ventures, Canada’s most active seed-stage venture firm, we have invested in 100 companies since 2011, including Sonder, Transit, Unsplash, Mejuri, Benchsci, Login Radius, XpertSea and Bus.com. Our portfolio companies have gone on to raise over $470M in financing.
Details
FounderFuel works with companies across sectors that are using technology and business model innovation to create value in large markets. Our 4-month intensive program is supported by a network of seasoned startup founders, entrepreneurs, investors, and executives as well as the entire Real Ventures team. The program culminates with Canada’s largest Demo Day.
GUIDING UNCHARTED POTENTIAL
FounderFuel works to develop both the skillsets and mindsets of the founders shaping our future through game-changing technology. New founders learn and grow, hone their business models and stories and take their companies to the next level.
Four axes that transform vision into leading companies.
- NARRATIVE
- A strong narrative is essential to building a venture-backed company. Founders that can communicate a compelling see more success in attracting talent, raising financing and building high-functioning teams. Using techniques honed across hundreds of FounderFuel and Real Ventures companies, our narrative track gives founders the tools make others believe — whether on stage, in board rooms, or even in the elevator.
- NETWORK
- Companies thrive when they are supported by great advisors and a strong community. With hundreds of mentors, alumni, and partners, FounderFuel is a gateway to one of the premier startup networks in Canada. Our network track leverages this uniquely valuable group through mentor matching, founder talks, and high-value social encounters.
- EXECUTION
- Acceleration is ultimately measured in business results. Using the OKR method as a base, FounderFuel helps participants set and reach ambitious goals while establishing an operational cadence that can scale. Our execution track includes weekly check-ins, mentor board reviews, and expert-led seminars. The FounderFuel program also gets our companies investment ready!
- LEADERSHIP
- Leaders have people who follow them, while managers have people who work for them. A crucial aspect of founder success is personal development and leadership coaching. In addition to skilling up operationally, our leadership track helps founders to develop the self-awareness and resilience that will help them weather the storms of company-building.
Canada’s biggest Demo Day
FounderFuel culminates with Demo Day, a gathering of 1,000+ members of the Canadian tech ecosystem to hear the cohort’s pitches and celebrate the ecosystem that enables them to thrive.
Three months is a short period of time. High output requires intense focus and execution. Demo Day is the clear deliverable for our work on company narrative, and motivates the CEOs to refine their value proposition and company vision. It’s is also a motivator for driving execution, since great pitches need great numbers!
Main components of the FounderFuel’s program
FounderFuel’s program is built around a few major pillars:
- Mentor matching – During the first weeks of the program, each company speed-dates with more than 80 mentors. Based on these meetings, the company assembles a small group of mentors with whom they work closely during the program.
- Weekly check-ins – At the start of the program, each company crafts goals (OKRs). Once the goals are set, the companies meet weekly with the GM to track progress and address key issues.
- Expert talks – For each cohort, FounderFuel assembles a group of experts to speak about key domain areas (sales, marketing, financing, etc.) and a group of successful founders to share their stories.
- Pitch prep and Demo Day – Beginning about mid-way through the program, all companies work weekly, with the GM and the Real Ventures team, to craft compelling narratives for their Demo Day pitch.
Applications for the 2023 cohort will open soon!
Opportunity is About
Eligibility
Candidates should be from:
Description of Ideal Candidate
In general, we look for teams that meet the following requirements:
- A founding team of at least two people, open to coaching and personal development.
- At least one technical co-founder.
- All key members committed full-time.
- Founders need to be based in Montreal for the duration of the program.
For the record, it is possible to be accepted without meeting all of these requirements, but your chances are far better if you fit the above profile.
FounderFuel works with companies across all sectors that are using technology and business-model innovation to create value in large markets. While we view technology-powered innovation broadly, we focus primarily on companies that have software and data as part of their core technology. We are especially interested in companies leveraging artificial intelligence to drive innovation. This is driven by Real Ventures’ investment thesis and the strength of Canada’s AI ecosystems.
Dates
Deadline: As soon as possible
Cost/funding for participants
FounderFuel invests $120K CAD into each company that participates in the program. This investment is split into two parts. $20K is invested for 5% of the company’s common shares. $100K is invested in a SAFE with a $3.5M cap and 20% discount. In cases where a company has already raised funds at a higher price or cap, FounderFuel will adjust the terms of the $100K investment to match those terms.
The terms of the equity investment are not negotiable. The terms of the SAFE may be adjusted in cases where a company has already raised funds at different terms.
Other benefits
FounderFuel’s non-cash benefits represent a significant portion of the overall value provided by the program. Key benefits include:
- Mentorship – Direct access to one of the premier startup networks in Canada, with over 100 active mentors.
- Direct Support – Intensive weekly support from the FounderFuel and Real Ventures team.
- Coaching – Personal development workshops and one-on-one coaching.
- Investor exposure – Intros and engagement with our extensive investor network, culminating with Canada’s largest Demo Day.
- Fundraising prep – Deep and focused work on the company’s narrative, fundraising strategy, and fundraising materials.
- Training – Talks from top founders and practitioners.
Un-save Opportunity
Internships, scholarships, student conferences and competitions.
