Today is the last day to apply for ExtremeU - a 12 week summer start-up program based in Toronto starting on June 22nd. It is backed by Extreme Venture Partners (investor in popular local start-ups such as BumpTop and Kontagent) and headed by Farhan Thawar, who was previously Chief Software Architect at I Love Rewards and prior to that was the Head of Search and MSN Platform for Microsoft Canada.
ExtremeU is looking for around 4 teams to fund this summer, with preferably 2-3 founders in each (with atleast one founder being technically oriented). Folks who have done interesting things in the past would probably have a better chance of getting accepted in the program, which is bound to be fairly competitive, given what it offers to entrepreneurs:
- Basic seed funding (US$5000 per founder in return for 10% equity in the venture).
- Office space / shared resources for product development (servers, etc). ExtremeVP's thriving product development subsidiary, XtremeLabs, is co-located there as well - and given that Farhan is also the VP Engineering there - the opportunity to benefit from that experience would be incredible for teams in the program.
- Mentorship and access to industry connections throughout the summer.
By the end of the summer, teams are expected to demo their product at Toronto's DemoCamp and/or possibly to a set of investors as well for further funding (including Extreme Venture Partners).
The application form is straightforward and if you know what you are doing, shouldn't take long to fill out. Apply here. Some selected teams would be called for interviews and the ones accepted would be announced shortly thereafter as well. Stay tuned for more updates throughout the summer from the first such program of its kind in Canada!