JOLT joins Global Accelerator Network and announces call for applications
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.
About MaRS
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.
About JOLT
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
