MONCTON– Atlantic Canadian startup accelerator Propel is seeking applications for its Incite Phase 2 program for early-stage tech startups.
Phase 2, which runs up to nine months, focuses on helping companies building a repeatable sales engine. The accelerator program is completely virtual and customized and adapted to fit each individual company’s needs.
Phase 1 of Incite focuses on validating the problem/solution fit. Phase 2 is for promising tech startups ready to get serious about sales and developing a sustainable revenue model.
“We’re looking for companies … now looking to build a sales engine,” said Barry Bisson, CEO of Propel, in a release. “Phase 2 of Incite is really focused on customer success so the companies will transform their mindset to be customer obsessed. In turn, they’ll see consistent growth in their sales pipeline.”
To qualify for Phase 2, applicants must have an ICT component to their business model; have sales or are close to having sales; have achieved “problem/solution fit” and have full-time founders.
In addition to the programming, participating startups get access to venture capitalists, mentors, and Propel’s network of experts spanning industries and the country. Another notable part of the Phase 2 program is the establishment of a virtual “council” for each company. Each council is made up of three to five industry leaders who volunteer to participate in three virtual meetings with the founders. The councils include Propel board members and other experienced experts and entrepreneurs. Phase 2 culminates with an investor only demo day. The Gerry Pond Sales award, which includes a $25,000 cash prize and the option for a $30,000 investment, is awarded to a Phase 2 company each year.
“You cannot create a successful business without being pushed outside of your comfort zone. Propel’s Incite encouraged us to analyze how we were doing things and to adjust in order to reach our goals more effectively,” said Laura Simpson, CEO and co-founder of Side Door. Side Door participated in the last Phase 2 cohort and they were also the inaugural winner of the Gerry Pond Sales Award.
The deadline to apply is July 31, though a select few qualifying companies may be granted early admission to the program. Programming with beginning in September.