Acceleration Program FAQs

July 25, 2021

Need more information on our Acceleration programs? Our FAQs should give you a good overview and answer any questions you may have. If you have additional questions, please contact [email protected].

Q. How do I know if my company is suited for the program?

After you submit the online application, one of our program managers will schedule an introductory meeting to explore your company’s fit for the programs. In terms of fit, we look for whether your company has a positive environmental impact, has a scalable business model, and has a coachable founding team.

Following that introductory meeting, you will be scheduled for an intake presentation (present a 15 minute overview of your business, followed by a 25-30 minute Q&A) to assess which program is best suited for your company.

One of our program managers will follow up within 2-3 business days to provide feedback, program fit, and next steps. 

Q. What happens after I’m accepted?

If selected for the Kickstart ($100/month) or Launch & Deliver ($200/month) programs, we will invite you into the programs via a welcome email. Please reply indicating your acceptance and you will then be notified to sign an agreement with Foresight and pay your program invoice before officially entering the program. Once the agreement is signed and the invoice is paid, you will receive additional information including your EIR pairing, access to the eLearning Platform, as well as an invitation to join our Slack channels including our Community of Innovators with over 1,000 members.

If selected for the Grow ($500/month) program, we will set up 1:1 interview sessions between you and two EIRs in our network. After meeting with both, you will decide which EIR is the right fit for you. You will also receive a welcome package, sign an agreement with Foresight, sign an NDA if attending the CXO Roundtables, and complete payment of subsequent invoice for the program.

Q. What are the commitments you require from the companies?

Each of our cohort-based programs have three main components:

  1. Online eLearning content consisting of readings, videos, and worksheets (~1-4 hours per week)
  2. 1:1 mentorship meetings with your EIR (~1 hour per week)
  3. Live webinar sessions with the cohort (1-1.5 hours per week depending on the program)

Q. Does Foresight take any equity in companies?

No, we do not take any equity in the companies who go through our programs. 

Q. How much do your programs cost?

Program fees are $100/month for Kickstart, $200/month for Launch and Deliver, and $500/month for Grow.

Q. Who are your Executives in Residences (EIR)?

Our Executives in Residence (EIRs) are a group of highly talented individuals provides support to ventures in our accelerator programs. When companies join our programming, we match them with an EIR who works alongside them and is best suited to help identify areas in need of improvement. 

Q. Can I participate in both Foresight’s accelerator program and another one at the same time?

Yes, participating in another accelerator does not affect your qualification to participate in our programs. However, we do recommend companies be conscious of the number of accelerators they participate in at one time, due to time constraints. 

Q. How can I access the SDTC Seed Fund?

Companies who have participated in our Acceleration programming within the past 12 months are eligible to be nominated for SDTC funding by Foresight as long as they also fit the below criteria.  We send out a survey to all Foresight companies when the SDTC call for nominations is announced. SDTC has several parameters that need to be met for consideration.

You can find all information regarding the eligibility criteria, application process, important date, and FAQs on SDTC's website.

Criteria for grant eligibility:

  1. Canadian company
  2. Pre-commercial technological innovations  
  3. Environmental benefits (GHG reduction, clean air, soil or water, etc.)
  4. Private Equity: Need to have raised at least twice the amount in private equity (minimum $100,000) from accredited investors for the amount requested in the grant in the last 12 months. Please note that convertible notes, money raised from friends and family, and founder equity are NOT eligible.

We do our due-diligence in selecting the best candidates possible pertaining to the selection guidelines outlined by SDTC. Foresight is limited in the number of nominations we can put forth, and as such not all the companies that meet the criteria can be nominated. 

Q. Do you have any success stories or notable alumni?

Foresight accelerates the growth and impact of cleantech ecosystems across Canada. We have supported 840+ ventures in our Kickstart, Launch, Deliver, and Grow programs, and 150+ industry partners through our industry, capital, and export programs. Foresight’s expertise has helped secure $1.05 billion in capital, $325 million revenues and 6,850+ high-paying jobs with an economic impact of over $1 billion. Our domestic and international engagement includes collaboration with 2,000+ stakeholders and partners.

We have a strong history of strategy, ecosystem mapping, and partnership building that positions Canada as a global leader in cleantech innovation. You can find a list of the companies we have supported here.

Here are several articles highlighting alumni companies:

Read more articles here.

Q. I'm developing new technology. Is there anything I should know before starting a program?

There are many things you need to know in order to start and grow a company, and if you’re developing a new technology at the same time, it is doubly challenging. This document offers some of the most critical things you need to think about.