BDC Capital has entered into a three-year partnership with the University of Toronto Rotman School of Management's Creative Destruction Lab high-tech venture accelerator.
BDC Capital says it will be involved "in all aspects of the accelerator program," including having a seat on CDL's advisory board. Graduates of the CDL program will also now be eligible for BDC Capital's convertible note investment program.
The Creative Destruction Lab has been in operation since 2012 and in that time has already generated more than $100 million in equity value. Its aim is to reach $1 billion.
Since 2012, BDC Capital has invested a total of $13.2 million in 87 companies nationwide via its convertible note investment program, with private investors putting up an additional $38 million.
"We are looking to support as many of Canada's high-potential early-stage companies as we can, while connecting them to the mentorship and private investments that they need," says Dominique Bélanger, Vice-President, Strategic Investments and Partnerships at BDC Capital,
BDC has other ongoing partnerships with GrowLab, Extreme Startups, HYPERDRIVE, FounderFuel, Execution Labs, Launch36, and Canada's Department of Foreign Affairs and International Trade's Canadian Technology Accelerators (CTA) program in the United States. Last June, BDC Capital also announced a collaboration with health sciences accelerator Accel-Rx.
The application period for the third cohort of Creative Destruction Lab closes August 28. Interested ventures can apply here.