Propel has struck partnerships with Leanstack and GrowthX, which will provide curricula to be used in the Atlantic Canadian IT accelerator’s programing.
Leanstack is a business model platform created by Ash Maurya, one of the creators of the lean canvas, and it combines the lean canvas and traction model to make projections of a company’s success rate over three years.
GrowthX is a Silicon Valley-based partnership that works with startups, companies and countries to help them commercialize innovation. Propel said these subject matter experts help to further increase the validity and value of the Incite program, Propel’s virtual accelerator. Propel’s entrepreneurs-in-residence will also receive intensive training from both organizations.
“These two partnerships are an incredible incentive for companies looking to fast-track their business growth through our accelerator Incite,” said Propel CEO Barry Bisson in a statement. “These two exceptional organizations are among the best in the industry – and we’re thrilled to bring their expertise to our companies and to Atlantic Canada.”
Propel, last year launched its Incite accelerator – a two-phase virtual program for early-stage tech startups across the region. Propel in April accepted 30 companies into Phase 1, which is for companies trying to determine whether they have a product-market fit. The Phase 2 program, which will begin in September, helps companies identify markets and develop repeatable sales programs. (Companies can apply for Phase 2 until July 31. Applications can be found here.)
Maurya, author of the international bestseller Running Lean, already has some history with Propel, as he worked with some participants in Launch36, the organization’s first accelerator program. In the renewed partnership agreement with Leanstack, Propel will use the platform and methodology for Phase 1 of Incite to help companies validate the concepts they’re bringing to market.
“When we saw what Propel was doing, we knew there was an immediate fit,” said Maurya. “Good ideas can come from anywhere and Propel’s unique virtual mentorship model allows them to reach, nurture, and accelerate the next generation of world-class entrepreneurs.”
Under the partnership with GrowthX , the Silicon Valley organization will lend its Market Acceleration Program, known as MXP, and its Venture Capital Workshop to Incite Phase 2. There will also be the opportunity for other organizations in Atlantic Canada to book these workshops. GrowthX was founded by Max Menke, Will Bunker, Sean Sheppard and Andrew Goldner – all pioneers in the Silicon Valley startup ecosystem and around the world.
“There are over 7,500 accelerators in the world – and Propel has really distinguished itself from the rest,” said Goldner. “They stand out because they focus much of their time on helping their founders to market products and make money, which we think is a lot more sustainable than just the subsidy of venture capital.”