Through ScaleUP(& out), five (5) Companies will receive an opportunity to pitch for a capital prize of $20,000 in front of regional investors for their market expansion plan. The program provides 4-months of intensive growth coaching, expert insights, and strategic planning. These in-kind resources are valued at up to $20,000 per participant, with an additional $500,000 available in software and technology discounts via WETechAlliance’s exclusive Client Perks program. Successful applicants will have fully customized strategies developed to assist them in uncovering new opportunities and finding new pathways to growth.
“Every year this program takes on an entirely different theme and approach. We engage new mentors and experts and adjust the delivery model based on feedback we collect from our portfolio clients throughout the year,” says Adam Castle, Director of Venture Services at WETechAlliance. “There is a reason we only accept five companies per cohort. This program is highly tailored to address participant needs, and to reflect the economic climate that these businesses are operating in. Nothing stands still in the global economy, and the ScaleUP program continues to evolve to meet our business community where it’s at.”
Now in its seventh cohort, ScaleUP has created 172 jobs and has assisted 35 companies in getting 141 new products and services to market, helping to fuel over $26 million dollars in new revenue for participants.
New for 2023, WEtech has enhanced program content through partnerships with the Ontario Ministry of Economic Development, Job Creation and Trade (MEDJCT), the Canadian Intellectual Property Office (CIPO), Intellectual Property Ontario (IPON), the Canadian Trade Commissioners Office, MaRS Innovation Hub, Spoken Artists, Veem, and Export Development Canada (EDC).
The ScaleUP program evolved from the successful StartUP program funded by the Libro Prosperity Fund in 2016. In March 2020, the ScaleUP Accelerator was recognized nationally as one of fifteen winners of the Concentra Empowering Your Community Awards.
“WEtech’s passion for entrepreneurship matches our own; we’re both here to help people prosper in Southwestern Ontario,” says Lori Atkinson, Libro Credit Union, Regional Manager for Windsor-Essex. “Libro is proud to continue to support this program, which allows entrepreneurs to develop the necessary systems to find traction and success.”
ScaleUP is the first accelerator program in the region focused on scaling startups and is open to entrepreneurs of all ages. Last year, five companies were selected out of 38 applications, with Climate Neutral winning the $20,000 top prize for Cohort 6.
“Programs like this are economic development in motion,” says Matthew Johnson, Executive Director for Mobility Partnerships and Innovation at Invest WindsorEssex. “Helping small innovative companies gain footholds in new markets in the automobility, ag-tech, healthtech, and ICT sectors are a phenomenal way to help take the knowledge and aptitude we have in our region and deliver it to the world.”
The deadline to apply for the seventh ScaleUP cohort is 11:59pm on July 24th, 2023.
Applications – and program information – can be found at www.wetech-alliance.com/scaleup.