Canada’s Accelerators Still Waiting for $60 Million Handout

In October Techvibes reported that Stephen Harper had set aside $60 million in his budget “to help outstanding and high-potential incubator and accelerator organizations expand their services to entrepreneurs.”

Labeled the “Canada Accelerator and Incubator Program,” the sizeable funding is as good as it gets—”over a five year period in the form of non-repayable contributions.”

A feeding frenzy for the easy money ensued with proposals coming in from across Canada. Requirements of the program were generic enough that every organization that refers to themselves as an accelerator or incubator likely submitted a proposal to NRC-IRAP.

But NRC-IRAP was very clear in their guidelines: only a “limited number of best-in-class accelerators and incubators (i.e. fewer than 10)” would be successful in securing funding.

Eight months later applicants still have not been informed on the final status of their proposals.

According to those in the know, an announcement is imminent and will leave us with a landscape of have and have-not organizations.

Who do you think deserves the funding support?