Ingenuity Ascend Accelerator Program
Ingenuity is Lakehead University's first business incubator, offering space and resources for students who are looking to start a business or develop an idea. In addition to providing space for budding entrepreneurs, Ingenuity offers a learning environment to help develop knowledge and skills that help support business development and growth.
About the Ingenuity Accelerator program:
Ingenuity Ascend Accelerator program is a great opportunity for entrepreneurially-minded students and alumni looking to transition an idea into a business opportunity, or accelerate the growth and development of their early stage start-up. The Ingenuity Accelerator program will accept up to 10 entrepreneurs per cohort, and deliver up to $7500 per business idea for costs associated with business development. Applicants will be screened through an interview process before successful admission to the program.
Applications due June 7th, 2020. Program starts June 22nd, 2020
What to expect (what participants should be ready for)
Throughout the 10-week program, Ingenuity Ascend participants can expect the following daily activities:
- Participate in networking events
- Attend weekly business development workshop sessions
- Connect with entrepreneurial mentors
- Participate in milestone meetings with Ingenuity staff to review progress and set upcoming monthly milestone goals
- Access up to $7500 per team to help fund business development activities (some restrictions apply)
Eligibility Requirements
Applicants must meet the following criteria:
- Must have at least one founder connected to Lakehead University (Student or Alumni up to 3 years post graduation)
- Must be willing to devote a full-time effort to the program
- Must have decision-making ability
- Must participate in all Ingenuity Ascend events, workshops and competitions throughout the program duration (available in online format)
- Must be eligible and meet the requirements of starting and running a business in Canada
FAQ’s
Q. Does it cost anything to join the program?
A. There is no cost for this program. This program is completely free for all current students and recent graduates from Lakehead University.
Q. Is Ingenuity only for business students?
A. No, we serve students from all disciplines.
Q. Does Ingenuity take any equity or royalties of my company if I use their services?
A. Ingenuity does not take any equity or royalties of any kind.
Q. Who can I contact for questions?
A. For all general inquiries, please email info.ingenuity@lakeheadu.ca
Funding restrictions:
The Ingenuity Ascend program will cover some costs associated with business development and will disperse funds based on a milestone delivery plan. Some costs that are not eligible for this program include rent, labour and wages, and large inventory purchase. All spending will need to be approved through the program coordinator prior to purchase to ensure it is eligible.