Volta, Canada’s East Coast innovation hub, has opened applications for the fourth edition of its Volta Cohort pitching competition, which promises investment of as much as $25,000 to each winner.
Halifax-based Volta began the Volta Cohort two years ago to provide pre-seed funding for early-stage companies, so that companies have enough capital to develop a product and get off the ground. Since then, the program has awarded a total of $400,000 to 16 ventures.
“A big part of developing a strong entrepreneurial ecosystem in Atlantic Canada is increasing opportunities for early stage innovation-driven startups that have potential to scale,“ said Volta CEO Jesse Rodgers in a statement. “Volta Cohort aims to support these companies so, in turn, they can develop products that reach global markets, generate jobs that attract and retain talent, and establish the region as a global destination for innovation.”
Selected finalists will pitch at an event held in May, and as many as five winners will receive investment from a micro-fund backed by Volta as well as Innovacorp, BDC Capital, and the Atlantic Canada Opportunities Agency. (At the last event, the judges actually awarded funding to six winners as they had difficulty narrowing the field to five.)
Along with investment, Cohort companies are given workspace at Volta, programming, and access to a board of mentors comprising CEOs and founders of Volta’s resident and alumni companies. The board will meet each company every two months – offering peer support, advice and a check on its milestones.
The competition is open to companies from across Atlantic Canada. For winners that aren’t located in Halifax, Volta will work with partner organizations in other cities to ensure support is available where the companies are located.
You can find applications here. The deadline for applying is April 3.