FREDERICTON- Fredericton-based startup hub Planet Hatch has launched a new program that will help members of the community turn their ideas into profitable businesses.
The new program, called Startup Accelerator, helps entrepreneurs gain the essential knowledge and skills to turn their idea into a profitable, growing business. Participants will form a cohort and receive comprehensive training and tailored business counselling over 12 weeks on topics such as market research and competitive intelligence; positioning and branding; pricing and financial modelling; customer validation and go-to-market strategies.
In addition to training, Planet Hatch Startup Accelerator participants are eligible to access up to $25,000 in low-interest loan funding through the Impact Atlantic Fund. Each startup will also be paired with a team of marketing & communications students from St. Thomas University to help them develop their brand and communications strategy.
“We’re very excited about the launch of this new program,” said Ksenia Sehic, program coordinator at Planet Hatch, in a news release. “This program will address the many challenges early-stage entrepreneurs face and speed up their time-to-market.”
Planet Hatch worked with EDGSJ, the economic development agency for Saint John, to design the program. EDGSJ currently runs a similar program in Saint John called the Venture Validation Program.
“EDGSJ have had tremendous success with the Venture Validation Program,” said Adam Peabody, director of Planet Hatch. “Our Startup Accelerator is modelled after that success with small changes to fit the Fredericton market. We deeply appreciate EDGSJ’s strong collaboration on this initiative and see it as an example of how economic development agencies across the region can collaborate to improve our overall service offerings to our clients”.
Planet Hatch will be accepting applications from eligible companies to the program until September 25th, 2019.