LatAm Startups is officially launching and calling for applications to its newly created ‘Newcomer Entrepreneur Accelerator Program’ this September. This six-month accelerator program, which is supported in part by funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), is expected to run from September 2021 to March 2022 for five companies led by newcomer entrepreneurs. They will develop a clear marketing and sales strategy, identify funding opportunities, develop an IP strategy, and develop a structure ready to hire new talent, among other deliverables, to help the company integrate into Canada’s ecosystem.
As a non-profit accelerator in Toronto that works exclusively with international startups and as a designated sponsor for Canada’s Start-up Visa Program, LatAm Startups has continued to advocate for diversity in the technology ecosystem in Canada. LatAm Startups was created in 2016, and since 2017 its programs have received over 100 startups from 20 different countries.
“As an accelerator rooted in helping international startups, our expertise and extensive experience working with newcomers were valued highly in the program’s approval process. The goal of the program will be to help these companies find the right resources and ultimately accelerate sales and funding to reach their growth goals.”
– Miryam Lazarte, CEO of LatAm Startups
The motivation to deliver this program has come from the reality that newcomer entrepreneurs add significant value by creating new companies in Canada. Still, many newcomers face difficulties integrating into a new market and require more personalized support. This program seeks to embrace diversity and inclusion in the tech ecosystem to provide the support needed for new Canadian entrepreneurs.
Five companies that fulfill the following criteria will be selected to join the Newcomer Entrepreneur Acceleration Program this September:
- Headquartered in Canada
- Minimum 50% of the company is owned/co-owned by a newcomer (Permanent Resident or Canadian Citizen that has lived in Canada for less than ten years)
- Minimum annual revenue of $50,000
- Less than 500 employees
- Companies developing new technologies to pursue IP in Canada
This new program falls in place, aligning with the values of the organization’s current programs and initiatives, consistently advocating for newcomer entrepreneurs and underrepresented communities. Its 3-phase program for international companies aiming for Canada’s Start-up Visa program, a Corporate Program aimed to help global corporations develop a faster spin-off or a project within the Canadian market, an active partnership with Elevate Talent in providing career transitioning learning opportunities to underrepresented communities in tech within the GTHA, and several other Bootcamps with regional hubs and organizations. The Newcomer Entrepreneur Accelerator Program, created through funding support from NRC IRAP, joins the list of initiatives as another opportunity to help newcomers integrate into the Canadian technology ecosystem.
Those interested in applying for the Newcomer Entrepreneur Acceleration Program, submit your applications by August 27th here.