Partnership to give JOLT startups access to extensive benefits and connections outside Canada
TORONTO, April 30, 2012 /PRNewswire/ - JOLT (www.joltco.ca), a new technology accelerator for high-growth web and mobile startups in Canada, announced today that it is now a member of the Global Accelerator Network (GAN), an alliance championed by TechStars and originally created as part of the White House's Startup America Initiative. The Global Accelerator Network includes many of the strongest and most successful independent startup accelerators from across the US and around the world. JOLT also announced that it is now taking applications for its summer 2012 cohort.
"The Global Accelerator Network is excited to welcome JOLT as its newest member," said Patrick Riley, Executive Director of the Global Accelerator Network. "The members in the Network include many of the top accelerators in the world. We believe JOLT is a great addition to this prestigious group as one of the best options for entrepreneurs seeking mentorship, funding, connections and resources. I look forward to seeing all the future successes of JOLT graduates."
In exchange for a small amount of equity, selected JOLT companies receive $30,000 in initial financing, office space in the MaRS Commons, and access to a diverse mentor network of 80+ entrepreneurs, business experts, creative thinkers, designers, technologists, product builders and investors. In addition, through the GAN membership, JOLT offers startups access to nearly $100,000 in free perks from over 25 of the best vendors in the world, including Amazon, Rackspace, PayPal and more.
"We are extremely pleased to be joining forces with one of the leading accelerator programs in the world," says Susan McGill, Executive Director of JOLT. "One of the biggest challenges for early-stage companies is customer traction. Through our partnership with Global Accelerator Network, JOLT startups gain access to an international network of world-class mentors and peers with solid connections and relationships on a global scale. While investment is the lifeblood of startups, mentors with the right connections offer a direct path to customers, partners and growth."
JOLT is looking for exceptional entrepreneurs who are building high-growth web and mobile companies that promise to transform the way consumers and enterprises connect, work and play. Startups accepted into JOLT will progress through an intense, four-month program that will prepare them to secure customers and attract the next round of capital. Upon completion, these startups will be given the opportunity to pitch to some of the top angel and venture capital investors in the industry. JOLT graduates will also receive ongoing support from MaRS, one of the world's largest urban innovation hubs dedicated to supporting entrepreneurs and building Canada's next generation of high-growth companies.
Entrepreneurs interested in JOLT can apply online until May 30, 2012. Up to eight companies will be selected to participate in the summer 2012 cohort.
MaRS Discovery District (www.marsdd.com) (Twitter: @MaRSDD) is a mission-driven innovation centre located in Toronto. MaRS works with partners to catalyze, accelerate and amplify innovation. MaRS supports entrepreneurs building Canada's next generation of growth companies.
JOLT (www.joltco.ca) (Twitter: @joltco) is a Toronto-based startup accelerator dedicated to building high-growth Canadian web and mobile companies focused on startups in the IT, communications and entertainment industries. JOLT offers these selected companies working space in the MaRS Commons, seed financing and mentorship, as well as access to seasoned partners and some of the top angel and venture capital investors in the industry. By combining the expertise of its numerous partners in the creative arts, design and technology sectors with MaRS' business-building experience, JOLT provides the selected companies with business validation, streamlined market entry and a greater opportunity for success.
About Global Accelerator Network
The Global Accelerator Network (www.globalacceleratornetwork.com) consists of almost 40 high quality independently owned and operated organizations from around the world that utilize a mentorship-based startup accelerator model. It provides networking opportunities, training, special perks, and ongoing support for members of the network. TechStars led the effort to form the Global Accelerator Network in 2010 as part of the White House's Startup America Initiative. In the spirit of supporting more entrepreneurs around the world, the Network's mission is to ensure that 5,000 successful and experienced entrepreneurs and investors will mentor and support 6,000 promising young entrepreneurs. The goal is to increase their success rate tenfold and create 25,000 new jobs by 2015 as well as a sustained engine for growing these figures over time.
SOURCE MaRS Discovery District