LocoLAB to fund unconventional startups in an unconventional way
TORONTO, May 3, 2022 /CNW/ - Canadian entrepreneurs can now officially compete to join Toronto's hottest new accelerator program. With applications now open, entrepreneurs and early stage startups are encouraged to apply for unbiased funding and mentorship through LocoLAB, Toronto's Alternative Accelerator.
Run by a team of young Toronto entrepreneurs, LocoLAB aims to help radical startups develop scalable companies, without the rigidity and limitations of traditional accelerator programs.
"As founders that achieved success early in our careers, we wanted to give back to the Toronto startup community and provide opportunities to other aspiring entrepreneurs," says Jeremy Poteck, Founder, LocoLAB Inc. "Toronto needs an accessible accelerator program that serves brilliant and creative entrepreneurs from all walks of life; not just MBA graduates— and that's exactly what we've created with LocoLAB."
Offering each startup $35,000 CAD in exchange for a mere 1% equity, LocoLAB's funding model is uniquely founder-friendly, putting the interests of the entrepreneur first. In addition to startup capital, entrepreneurs in the program will have access to expert mentorship, business resources, Angel investors and a collaborative office space in Parkdale, Toronto—one of the city's most eclectic neighbourhoods.
"With the first cohort of the program starting this summer, we're calling anyone across Canada with a great idea, prototype or early-stage business to apply," says Poteck. "Because LocoLAB's funding is independent and therefore uninfluenced by government or corporate interests, the best and most radical ideas will win out. The goal is to build cool shit while having fun doing it."
With cross-industry expertise, LocoLAB's growing roster of mentors includes:
- Jeremy Poteck, Founder & President of Poteck Power Corporation, a startup that has recovered over $100 million in electricity bill refunds for clients across Ontario;
- Bryan Gold, Co-Founder & CEO of #paid, an all-in-one creator marketing platform;
- Ali Jawani, Co-Founder & CEO of Rally Video, an interactive hosting platform for large gatherings online;
- Shaun Frank, Toronto-based musician and producer
To apply for startup funding and mentorship through the new LocoLAB accelerator program, please visit www.locolab.ca.
As Toronto's Alternative Accelerator, LocoLAB provides valuable resources and unbiased seed-funding to unconventional startups. Through a 3-month intensive program, we help radical entrepreneurs develop scalable companies, free from the rigidity and limitations of traditional accelerators.
SOURCE LocoLAB
MEDIA CONTACT: Jill MacCannell, Grapevine PR, 902.471.7080, [email protected]
Share this article