The Work Revolution (Views: 3585)
Fri, 06 Nov 2015
Millennials have increased their startup ownership by nearly 10 percent in the past five years, and by 2028 they will not only represent 75 percent of the labour force but are twice as likely than the average Canadian to start their own business. With a boom of small enterprises spreading across Canada every year, entrepreneurs are facing increasingly competitive markets.
Canada’s business landscape is moving towards a more innovative and technology focused society. With the recent clusters of supportive pro-entrepreneurship groups in Canada, entrepreneurship has become increasingly more prevalent. From the generation that fixated on obtaining career jobs, comes a new generation that is pushing innovation and
self-employment.
World Economic Forum reports Canada as being the 25th most innovative country, a considerable difference in comparison to the United States in 6th position.
The Liberal government hopes to improve the nation’s global standings by promising $200 million a year for the next three years for a new innovation agenda. As many startups leverage the resources of accelerators and incubators, this investment should jumpstart the innovation Canada needs to compete against its neighbour.
Accelerators and incubators help entrepreneurs to grow and develop successful businesses. These programs spur innovation through the spread of knowledge by co-working environments and access to a network of mentors and business resources. These groups have been known to increase the visibility and reach of startups, giving startups a greater chance at success and investment from funders.
Which program is best for your business?
Accelerators are designed to accelerate the successful development of entrepreneurial companies. The goal of accelerators are to help a startup do roughly two years’ worth of business building in a short period of time. These programs typically have a set time frame where individual companies spend a few weeks to a couple months working alongside mentors.
Incubators on the other hand are hubs for innovation. Startups accepted into incubator programs are often early-stage and relocate to a co-working environment to encourage innovation and the spread of knowledge. Companies working in these spaces do not operate on a specific time frame like accelerators, rather incubators lease office space on a month to month basis.
Whichever program you choose for your startup, Fundica recognizes the value these programs bring to the entrepreneurial community. As a pro-entrepreneurship organization, Fundica has teamed up with multiple accelerators and incubators across Canada for the Funding Roadshow. By connecting entrepreneurs to a network of valuable mentorships and allowing them to gain business acumen, entrepreneurs can immerse themselves in a positive entrepreneurial community where they can validate their business before it’s too late.
Increase the traction of your business and check out the list of accelerators and incubators across Canada
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Stephen Babey ():
2 Mathieu ():
Have previously submitted a proposal to ES&DC - rejected on the grounds that insufficient jobs were created. Wondering whether proposal can be re-submitted?
2 Mathieu ():
We're a communications agency that has been growing organically since its conception, growing slow but solid. We are at the point where in order to accomplish our long-term goasl, we're considering many directions, including accelerators andfunding.
