Are you looking to accelerate your business? If you have a small technology based business with a potential for high growth, you could take advantage of the most recent Canadian Technology Accelerator, located in Boston in the United States (CTA@Boston).
What is the Canadian Technology Accelerator?
The Canadian Technology Accelerator (CTA) initiative was developed to provide Canadian companies with access to in-market entrepreneurial resources and contacts that can help them grow and compete internationally. It is managed by the Consulate General of Canada.
CTA@Boston officially launched in March 2014, following the Memorandum of Understanding (MOU), signed by the Minister of International Trade and the Canadian Consulate General in Boston, which supports a one year agreement.
If accepted, you will work from the Massachusetts Institute of Technology (MIT) Kendall Square campus for three months while they help you refine your business model, collect competitive intelligence, pursue key clients, access financing sources, and engage strategic partners in Boston.
Similar MOU’s in San Francisco and the Silicon Valley have already secured international sales, partners and investment for 24 businesses in BC.
Massachusetts is home to the largest concentration of biotech firms in the world, and the second largest concentration of medical device companies in the US.
Although the CTA program is normally focussed on a wide range of technology companies, this specific program is looking for Life Sciences, Health IT, and Green-IT companies.
CTA@Boston has outlined its key criteria for the program as:
- You have a clear vision and value proposition for your business, competitive landscape, and you're prepared to pitch it.
- You have demonstrated proof of concept and/or IP protection.
- You can demonstrate existing sales, and/or quantify your user or customer pool in Canada (and/or the US).
- You have received funding (from public, private, or other sources).
- You have in-Canada partners who have done due diligence on your technology/company and are supporting your application.
- You have identified your business' growth objectives and you are ready to launch globally.
- You have a credible executive team in place.
- You have a minimal viable product to deliver to a sizeable market.
- You have a good understanding of the various growth financing mechanisms.
You could move your business to the next inflection point by connecting with potential partners, funders or potential customers in the New England region.
How to Apply
The CTA@Boston will be accepting applications between July 2 and 15, 2014 and between November 5 and 19, 2014. Start dates are on a rolling basis and will be determined by your availability and the number of seats available at the Cambridge Innovation Centre (CIC), Massachusetts.
Application forms can be accessed through the Trade Commissioners website. The form will go live when the application period commences.
A number of BC businesses have already been accepted into the CTA@Boston program, through the March 2014 application process. Those businesses include: Precision Nanosystems, Arazy Group, and Ayogo Health.
What Are You Waiting For?
If you’re looking for the next way to grow your technology business, contact the Canadian Trade Commission for more information at:
Thierry Weissenburger, Senior Trade Commissioner, Boston