Toronto's Extreme Venture Partners announced yesterday that it is launching a revamped version of its Extreme University accelerator program - ExtremeU.
ExtremeU’s new model will consist of a 12-week program, in which five teams will share office space, along with access to its network of founders, advisors, and developers. ExtremeU will run two 12-week programs a year and each startup will receive $50,000 in funding in exchange for 5-10% equity.
Founders will have the opportunity to participate in weekly sessions with experts and advisors, as well as work directly with key members of of some of the tech industry’s biggest companies. As part of yesterday's announcement ExtremeU revealed its first industry partner - Facebook.
An example of this industry support is Facebook, which will work with ExtremeU companies to design and build products that are fundamentally social right from the core. Specifically, Facebook will offer product strategy and design mentorship on how to build products that are social by design, and also how to truly leverage Facebook’s Open Graph to create powerful, viral distribution channels for their products. Facebook will also offer ExtremeU startups the opportunity to test new features and to offer feedback on those new tools before they are widely launched.
Facebook reps will also enable startups to test new features on the platform and offer feedback on the tools startups create during the program before they’re launched to the public.
ExtremeU's site also lists RIM, Google, Twitter, Autodesk and Microsoft as upcoming industry partners.