UTEST, a technology startup incubator at the University of Toronto, is one of Canada’s eight largest accelerators. But it’s also among the quietest.
The UTEST program is part of the school’s growing ecosystem of incubators and commercialization support services; in partnership with MaRS Innovation, it provides nascent software companies with startup funding, mentoring, business strategy and office space in the MaRS Discovery District facility.
The program, whose graduates include Crowdmark and Whirlscape, is accepting graduates for its third cohort until April 17. Its seeking disruptive startups in software, primarily in the business-to-business space.
UTEST’s program is atypically long at 12-months but includes a $30,000 investment in exchange for a 5% equity stake plus access to a potential follow-on investment of up to $500,000 from MaRS Innovation, as well as the standard promise of mentorship.