PropelICT Presentation to JEDI Plenary (February 2012)

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  • Started in Feb of 2011Met with stakeholders across the provinceSpoke with other accelerators:Techstars, GrowLabs and Year One LabsConclusions, next slide…
  • Propel Accelerator needed to rethink its biz modelConducted a biz model workshopWe met with stakeholders to validate some assumptionsWe looked at our royalty model and the perception attached to itWe needed to clarify our value-addWe needed to figure out how to leverage our partnersImprove collaboration between accelerator companiesWe need to better maximize the value and time of our mentorsWE NEEDED A SCALABLE PROGRAM
  • SEED: Long term objective, currently being served through our funding partnersCould be a flat fee model or a royalty
  • If we looked up propel Accelerator in a dictionairy, what would it say…
  • Let’s break it down…
  • What/who are we looking for?Emphasize determination
  • What the Acceleration looks like3 key phasess
  • Objectives:Provide training to foundersEstablish a common language and expectations with founders at an early stageIdentify key challenges founders will faace early onDetermine if the founders are the right fit for Propel and vice versaWHAT IS YOUR SECRET SAUCE?
  • Lean StartupValidated LearningLeverage key partners for delivery
  • Practice makes perfect!Propel network affiliates:ParternesMentorsAngels, VC’sMediaMom and Dad


  • 1. Ideas, people and capital Presentation to
  • 2. Executive DirectorTrevor MacAusland
  • 3. 1999 20042005-20072005-20092008-2011 2010 - Present 2011 - Present2012-2014
  • 4. Our MissionTo develop the next generation of New Brunswick-based high growth technology firms
  • 5. What’s an Accelerator?
  • 6. What’s the difference?Accelerators Incubators• Private sector driven • Government driven• Short intensive 3-6 month • Less emphasis on program time, pressure and intensity• All can apply • Typically academic focus• Large mentor Driven Network • Small mentor driven network• Extremely selective • Many accepted• Applies “lean startup” • Applies “management” methodology methodology
  • 7. open and highly competitive application process pre-seed investment in exchange for equity focus on founder & team time-sensitive support throughis… intensive mentoring and events start-ups supported in cohorts
  • 8. In a sentence…The Propel Accelerator is a cohort-based accelerator program for earlystage technology entrepreneurs toincrease their chances of long-termsuccess by providing an earlyopportunity tofunding, mentorship, knowledge, andsupport.
  • 9. a. Startup applicants apply to participate in a Accelerator Bootcamp and Mentor Day b. Each applicant is assessed for Accelerator fit by a panel of entrepreneurs and investors based on quality of the team, business opportunity and growth potential c. propel invites high growth potential teams to follow a rigorous Accelerator mentorship program forthe a,b,c’s of… 5-months to launch a minimum viable product
  • 10. THE RIGHT STUFF have a technology focused idea/concept can be a new or early stage startuppreferably B2B focus on SaaS, mobile or enterprise social networking no business plan required no age restrictions no geographic limitationwilling to commit to weekly in-person meetings for a period of 5-months
  • 11. • Bootcamp Build • Demo Day• Mentor Day • Mentorship program Shape Launch
  • 12. Accelerator BootcampMentor Day – Pitch your story Shape
  • 13. mentor match mentor GSD scrums founder coachingmilestone development & review networking weekly peer groups mentor diners & events know-how sessions proven methods & approaches funding pitch opportunities Build
  • 14. DEMO DAY – pitch your story…again Launch
  • 15. Contact