Applications Open for Business Startup Accelerator Program - Includes up to $5000 in Funding
Ingenuity Ascend Accelerator Program
Ingenuity is Lakehead University's first business incubator. We offer space and resources for students who are looking to start a business or develop their ideas. Along with providing space for budding entrepreneurs Ingenuity also offers a learning environment to help develop knowledge and skills that help support business development and growth.
About the Ingenuity Accelerator Program
The Ingenuity Ascend Accelerator program is a great opportunity for entrepreneurial-minded Lakehead University students and alumni looking to transition an idea into a business opportunity or accelerate the growth and development of their early-stage start-up. The Ingenuity Accelerator program will accept up to 4 business ideas per cohort and deliver up to $5000 per business idea for costs associated with business development.
What to expect (what participants should be ready for) Ingenuity Ascend participants can expect the following daily activities:
Throughout the 10-week program, early-stage companies will have the opportunity to:
- Participate in networking events
- Attend business development workshop sessions
- Connect with entrepreneurial mentors
- Participate in milestone meetings with Ingenuity staff to review progress and set upcoming month milestone goals.
- Access up to $50000 per team to help fund business development activities (some restrictions apply)
Apply Here
https://forms.gle/
Eligibility Requirements
Applicants must meet the following criteria:
- Have at least one founder connected to Lakehead University (Student or Alumni up to 3 years post-graduation)
- Must be willing to commit to the program
- Must have decision-making ability
- Must participate in all Ingenuity Ascend events, workshops and competitions throughout the program duration (available in online format for Orillia participants)
- Must be eligible and meet the requirements of starting and running a business in Canada
Q. Does it cost anything to join the program?
A. There is no cost for this program. This program is completely free for all current students and recent graduates from Lakehead University.
Q. Do I need to have my business running to join?
A. No, we encourage applications from all stages of business development including the idea stage.
Q. What is the time commitment like?
A. Ingenuity requires one milestone meeting per week (up to an hour) as well and there will be workshops throughout the 10-week program. Ingenuity will work with the participants to schedule workshops and meetings at mutually agreed-upon times. It is understood the participants will be in classes and Ingenuity will work with them to find the best-suited times.
Q. Is Ingenuity only for business students?
A. No, we serve students from all disciplines.
Q. Does Ingenuity take any equity or royalties of my company if I use their services?
A. Ingenuity does not take any equity or royalties of any kind.
Q. Who can I contact for questions?
A. For all general inquiries, please email info.ingenuity@lakeheadu.ca
Funding restrictions
The Ingenuity Ascend program will cover some costs associated with business development and will disperse funds based on a milestone delivery plan. Some costs that are not eligible for this program include rent, labour wages, and large inventory purchases. All spending will need to be approved through the program coordinator prior to purchase to ensure it is eligible.
