08 Sep 2017 HyperGrowth:Life helps build BC’s Next Anchor Companies
In the world of tech startups, the harsh reality is that 9 out of 10 companies are going to fail. Growing a tech company is hard work and requires grit, perseverance, and the know-how to make the right decisions. Without a network of experienced mentors and supporters to lean on for advice and assistance, growing a successful business is an uphill battle. To help local health tech, clean tech, life sciences, and agritech entrepreneurs scale their growth the BC Tech association has created the HyperGrowth:Life program.
Now recruiting for its second cohort, the HyperGrowth:Life program was built to provide growing tech companies with the foundational skills necessary to scale their businesses. Over the course of a year, the program will teach participants how to run a healthy and growing startup.
HyperGrowth Life’s first cohort including HeadCheck Health, Shift Health, and ViewsIQ graduated this past June. Since completing the program, each company has experienced significant growth and have established strong business practices that will help them continue to build thriving startups.
“ When we started HyperGrowth:Life we had one or two paid customers and had secured a small friends and family round of financing. While in HyperGrowth [Life] we were able to raise some seed capital from local angel investors and have grown our customer base to over 100 teams and a few thousand athletes,” said Harrison Brown, CEO of HeadCheck Health.
One of the core features of this program is to help the cohort companies look at their business structure and identify gaps that need to be filled. For Shift Health, a health tech startup that helps create better patient outcomes for healthcare organizations through recorded data, HyperGrowth: Life helped them to develop and grow their team.
“Within six-months of being in the program, we had doubled in size. We were able to hire quality people in leadership roles and build a solid internal culture,” said Daniel Penn, CEO and founder of Shift Health.
One of the biggest advantages that HyperGrowth:Life provides smaller companies with is the opportunity to learn from experienced advisors and executives from within industries that are notoriously known for being slow to adapt new technologies.
“The advisors are such an invaluable resource. Through their help, we were able to build our entire sales team. Without the program this is something that we would still be working on,” said Penn.
The program which aims to build more anchor companies across the province is looking for its next group of companies to support. Armed with a newly revamped program structure, HyperGrowth:Life will take on 3-5 new companies and will provide them with education sessions, mentorship, 1:1 meetings with BC Tech’s executives-in residence, financial support, and connections within the industry. More importantly, they will help these growing startups build a strategic playbook to help them scale their business and succeed through their next phase of growth.
If you are a health tech, clean tech, life sciences, or agritech company that is looking to build your team and accelerate your growth apply now for the chance to be a part of HyperGrowth:Life’s next cohort. Deadline for applications is September 12th at midnight*.
*Contact Anastasia Hambali at firstname.lastname@example.org if you require an extension.