Ingenuity Ascend Accelerator Program
Ingenuity is Lakehead University's first business incubator. We offer space and resources for students who are looking to start a business or develop their idea. Along with providing space for budding entrepreneurs Ingenuity also 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 entrepreneurial minded Lakehead University 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.
What to expect (what participants should be ready for) Ingenuity Ascend participants can expect the following daily activities:
Throughout the 12-week program, early-stage companies will have the opportunity to:
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 month 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:
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.
