01 Dec 2021 GENERATOR 12.0 Competition – Call for Applications

Posted at 08:21h in Tech News by

Are you an early-stage BC tech start-up that could use 12 months of FREE office space, professional memberships, business education allowance, one-on-one mentorship, and networking opportunities? The GENERATOR 12.0 Competition is officially open for applications!

The GENERATOR is a unique incubator funded by Discovery Parks to provide early-stage technology companies space, mentorship, and community.

Startups face a lot of challenges, and sometimes it can feel like it’s you against the world. Tech startups that are part of a program designed to support their growth can have a huge impact resulting in increased revenue, investment, and job growth. The Discovery Parks GENERATOR program helps startups solve some of their challenges by providing workspace, mentoring, education, and other partner programming.

Our annual competition provides innovative British Columbia tech startups with the opportunity to win a rent-free modern co-working space in vibrant Chinatown. Competition winners receive a professional home for 12 months (FREE!); get to belong to an amazing community of tech entrepreneurs; and have access to mentors and programming.

Startups can enjoy a professional environment, conserve cash, and focus on business growth resulting in increased job growth, investment, and revenue, as well as meeting other core objectives.

ELIGIBILITY

The GENERATOR competition is open to British Columbia tech startups with a product or service that is in market or is expected to launch in the next 6 months. Our program is ideally suited for companies that will have a maximum of 10 people working simultaneously working onsite at the office. We can accommodate larger teams depending on the team size of other companies in your cohort.

Companies in our current GENERATOR cohort are also welcomed to apply to win an additional 12 months (max of 24 months combined).

COMPETITION WINNERS RECEIVE

  • 12 months rent free space at The GENERATOR – A private office and assigned desks in open working area. Bring your computers, plug in and start working!
  • Unlimited, high-speed, wireless internet
  • Bookable boardroom and meeting rooms
  • Use of our secure bike room
  • BC Tech Association and/or Life Sciences BC memberships
  • Special access to programs including AWS Activate
  • One-on-one mentoring with our Entrepreneur-in-Residence
  • Matching business education allowance
  • Introductions and networking opportunities with other tech companies
  • Invitations to technology industry events
  • Communal lunchroom
  • Unlimited free coffee and tea
  • We are dog-friendly!

APPLICATION PROCESS

Apply to The GENERATOR competition using our application form. You must include your business plan which should demonstrate why your start-up has a high probability for success and potential for growth. Your business plan must be no longer than 5 pages, pdf format, and include sections that describe:

  • Challenge: What problem are you solving? How?
  • Product or Service: Include any technological advantages. Is there any IP?
  • Revenue model: How will your business make money?
  • Value proposition: Why will customers choose your product or service?
  • Go-to-market strategy: What’s your tactical plan?
  • Competition analysis: Who are your current and potential competitors? How are you different?
  • The Team: Who’s on your team? What’s their experience and area of expertise?
  • Supporting information: Key milestones and achievements, key metrics, past financing (if any) and future financing plans

The GENERATOR is dedicated to fostering an inclusive, welcoming working space for diverse founders to learn and grow from each other. We encourage founders from underrepresented groups to apply. If you previously applied to the competition and were not selected for that cohort, please consider applying again.

SELECTION PROCESS

All applications are evaluated by a panel of judges from BC Tech Association, Life Sciences BC, the Vancouver Economic Commission and Discovery Parks. Shortlisted companies will be invited to be interviewed by our panel “Dragon’s Den” style. Companies are selected based on their potential for solving the identified problem; sound business plan and strategy; leadership potential and team expertise; potential for growth and success; and likeliness to work well in a co-working environment. No companies within a cohort will be direct competitors.

IMPORTANT DATES

Application Deadline: February 4, 2022
Shortlist Notified: March 2022
Winners Announced: April 2022
Winners Move-in: June 1, 2022

Please visit https://www.discoveryparks.com/the-generator to read complete competition details.