As it prepares to celebrate its 30th anniversary, the TME program at University of New Brunswick is launching a new accelerator to help high-growth companies in Atlantic Canada to scale.
The Fredericton university has teamed up with Boston-based Babson College – long recognized for its entrepreneurial program – to offer Scale Up Atlantic Canada. The accelerator will be led by Babson professor Daniel Isenberg, who will use his trademarked program Scalerator as the basic curriculum.
The J. Herbert Smith Centre for Technology Management & Entrepreneurship – commonly known as TME – has announced that it is looking for companies from the region with seven figures of annual revenues to apply.
“The purpose of the six-month-long Scalerator is to help inspire a growth-driven culture by showing that many local firms can rapidly experience new growth,” said Isenberg. “We have conducted 15 Scalerators in the U.S., Brazil, and Colombia with consistently positive results – 75 percent of the participating firms show new growth within a few months.”
TME is looking for companies with $4 million to $15 million in annual revenues to consider the program, though it is encouraging any company with more than $1 million in sales to apply. Applications will open in the week of Oct. 22 and the organizers are hoping to accept 15 to 20 high-growth companies. The cost of the course, which will likely start in February, is $5,000.
TME Chair Dhirendra Shukla, who is one of six instructors in the program, said a successful startup ecosystem needs not only programs to launch companies but also programs that help successful firms to grow.
“The program mixes peer-to-peer learning with classroom workshops that provide growth-oriented companies tools and strategies to quickly ignite that growth,” Shukla said in an email. “The Scalerator curriculum, focused on the three Cs of growth – customers, capacity and cash – has helped companies from diverse industries and sectors grow; many increasing by 25 percent or more following the program.”
Last month, U.S. News & World Report ranked Babson College the No. 1 undergraduate school for entrepreneurship for the 22nd consecutive year.
Disclosure: UNB TME is a client of Entrevestor.