Elevate and Moneris Solutions Corp. have announced plan to launch what they describe as Canada’s “first e-commerce accelerator,” which will be known as eCommerce North.
The digital-first program will offer a specialized, national offering that includes up to six months of sponsored programming, with the goal of helping 50 Canadian e-commerce start-ups scale over the next three years.
Applications are now open, with the first cohort set to launch on May 12.
eCommerce North will offer founders access to Canadian executives and entrepreneurs such as Elevate CEO and “serial entrepreneur,” Razor Suleman and Moneris chief operating officer, Bruce Nanton.
In addition, founders will learn growth methodologies from a suite of entrepreneurs in residence, including Phillip Gales (business ops), Harp Gahunia (finance and fundraising) and growth marketing strategy from Jyll Saskin Gales, Rokham Fard, and Nicole Murphy.
According to a release, the accelerator will equip founders to thrive in a stakeholder-centric world, and will look beyond traditional accelerator programming to include additional coaching on how startups can scale sustainability, equity and mental health.
“For 20 years, we have seen the strength, resilience and passion of Canadian small businesses, and it has never been more tested than over the past 12 months,” says Moneris president and CEO Angela Brown. “Helping Canadian entrepreneurs transition to a digital future isn’t just a business goal, it’s the right thing to do.”
Elevate and Moneris have also committed that at least 50% of founders will be female-identifying, and 30% will be from other underrepresented groups.
“We know that diversity in tech is an issue, and to fix that we need to start aggressively and intentionally correcting the imbalance of opportunities and access to networks,” says Suleman.
The decision to launch an e-commerce accelerator comes in the wake of a challenging year for startups and small businesses, and a rapid resulting digital transformation, prompting government support for this new initiative, the company says.
The program will be offered to startups across Canada, with a promise to offer a dedicated French cohort in 2022.
To be eligible for the program, startups must be a digital-first marketplace or tech enabler with demonstrated traction. Full criteria can be found on the eCommerce North website.
Elevate is a not-for-profit committed to uniting Canada’s innovators to solve society’s greatest challenges. In partnership with the United Nations, it offers year-round tech, innovation and sustainability programs via the Elevate Exchange.
