Ready to scale your tech business?
We help companies not just grow, but grow smart.
Find out if VentureLabs is the right fit for your company and apply now.
VentureLabs is a ‘later stage accelerator’ focused on technology companies that are expanding and poised for growth. We have a series of resources and programs to help your company meet the market. Our companies often have a viable product and early stage market acceptance. Some may be earlier, especially if they are prototyping and some may be later stage companies that are ‘scaling’ in the marketplace.
Below are the critical factors we review to assess a company’s fit with our programs.
Your company has the full-time commitment of a founder and/or team and plans to grow. Even better if your team has a demonstrated track record of building companies and domain expertise with a mix of technology and business skills. We examine the maturity of your team, industry experience and connections you have in place already. In short, we want to work with companies who have the talent and skills needed to scale.
Business Concept and Traction
You have a clear business concept and your venture has developed an MVP, and has customers using it. If you are commercializing deep tech or hardware, you’ve received government funding based on your solid business plan. Perhaps you’ve had a successful “friends and family” round or an accredited investor has put seed money into your business? Has a credible industry analyst raved about your idea? Basically, you can show that someone outside of your founding team thinks your product is a good idea.
You bring innovation to market or utilize technology in a new way to solve a customer problem. Does your innovation include a compelling new business model or create a new market? VentureLabs helps companies meet the unique challenges faced by technology innovators, such as longer, riskier product development cycles found in healthcare and telecommunications or brand new technologies, and strategic selling, complex go-to-market-for-enterprise software. We seek companies where this expertise will make the difference.
Market Validation and a Plan to Grow
You’ve established product-market fit and have strong market validation. In a SaaS market you’re generating revenue. With an invention to market, you’re filing patents and have lead customers. You have a services, product, or licensing business model which plans to employ multiple people and where business growth is a major objective. Finally, you have or are working to an investable capital table.
Your team is driven to take your business to the next level and develop personal skills including taking advantage of learning opportunities, training, and building connections. You can’t wait to collaborate with mentors and other experts who can help you grow.
We are looking not just for driven companies, but those who contribute to each other’s success, will participate in the VentureLabs community and those who want to give back by sharing their experiences, knowledge and skills with other teams.
Applications will be evaluated for in-person reviews
Select applicants will be invited to present to the assessment team
Accepted companies can immediately start working with our mentor team to set benchmarks
Perhaps Not A Fit?
Not all companies that apply at VentureLabs are accepted as clients. You may have an awesome idea that needs more refinement, or perhaps you haven’t validated your product in the market. Or you may be focused on innovation in a non-technology area. SFU VentureLabs is part of rich ecosystem dedicated to entrepreneurship and innovation, and we are happy to refer you to our industry partners or SFU’s other programs that may fit your needs:
- Coast Capital Savings Venture Connection is SFU’s flagship program for early-stage ventures, offering support through incubation, mentorship, office space, and access to the university’s vast entrepreneurship community.
- RADIUS SFU is focused on social innovation with programs including incubation support, social innovation lab expertise, capacity building, and connecting community to pave the way for transformative ideas to create systemic change.