FounderFuel is urging startups to finish off those last minute applications before their deadline of midnight on February 8 passes.
“Sure, you want to whip your startup into shape,” wrote FounderFuel in a recent blog post. “You want honest feedback, for us to rip you away from your tunnel vision–and most of all to make your business the best it can be.”
They were also kind enough to create a four-minute video to emphasize just how tough the program and its mentors can be at times.
In this video, taken from the 12-part FounderFuel reality series “Make it or Break it,” the mentors lead by John Stokes are seen at their finest. Both Liverides’ CEO Steven LaChance and Epilogger CEO Michael Nussbacher are documented as they make their way through the three-month program during its highs and lows.
The FounderFuel team has certainly been busy these past few weeks promoting their cause. They just finished up a two-week, six-city tour in which they held presentations throughout eastern Canada, engaging over 500 players in startup communities. Following this they held a four-hour live worldwide chat for questions and answers as well as an open house session on Tuesday, at Montreal’s Notman House.
The accelerator significantly upped the perks given to incoming startups since their last cohort. Rather than offering $25,000 for six per cent of companies FounderFuel now offers $50,000 for nine per cent of companies.
They offer $150,000 in other perks, another $150,000 in convertible debt from the Business Development Bank of Canada for “venture-ready companies” and three months of free office space in the valley at either Rocketspace or Plug And Play. And don’t forget the roughly 120 startup mentors associated with the program and their well-known Demo Day in which a sold-out crowd of 800 investors and other members of the community are present.
If startups think they have what it takes, General Manager Ian Jeffrey and the team are telling them to watch the clock.