Here’s a great news for entrepreneurs in Canada and especially Toronto: Extreme Venture Partners, a Toronto-based venture capital firm has just announced a technology start-up summer program, Extreme University, which would be based in Toronto and headed by Farhan Thawar. Extreme Venture Partners has been an investor in popular local start-ups like BumpTop and Kontagent in the past, and this is definitely an incredible opportunity for budding local entrepreneurs to take their idea to the next stage. David Crow wrote a great post a while ago on the need for such a program in Toronto and while such programs have been incredibly popular in the US (YCombinator and TechStars, among others), there have been virtually none in Canada so far (with the exception of Bootup Labs in Vancouver to some extent). Well, here it is, and kudos to ExtremeVP for initiating it. More details:
What: A summer technology start-up program that focuses on industry networking, technology mentoring and above all delivering a product to potential follow-on funders after only 12 weeks.
Who: We are looking for four smart and fast moving teams to participate. Typically all members of the two-three person team will be deep technically, but at least one of the founders should have a technical background.
How: After you apply and are accepted you will:
- Get $5,000 (US) per founder in exchange for a 10% ownership stake in your company
- Move your team to our shared ExtremeU office space at Yonge & King (downtown Toronto)
- Have weekly mentoring sessions by industry experts in technology, funding, legal, PR, marketing and HR
- Meet a who’s who of experts at our weekly socials and have an opportunity to practice your pitch and demo your in-progress prototype
- Have access to local shared resources to accelerate product development (mentors, servers)
When: Applications are due by Friday June 12th, 2009. The program starts Monday June 22nd, 2009 to Friday September 4th, 2009 at the ExtremeU offices in Toronto at Yonge and King. The final demo day will be Tuesday September 15th, 2009 at Demo camp.