Français

FAQ

PROGRAM DETAILS

How do you choose which companies to accept into the program?
We pay close attention to the team because having the right people is just as important as a great idea. Creativity, commitment, and perseverance are definitely on our shortlist of qualifications. So show us who you are just as much as you sell us your idea.
Why should we apply to you instead of Y-Combinator or Techstars?
You shouldn’t; you should apply to us all! All of these programs believe that people matter, but you can’t get it right every time – so perhaps we see something that the other guys miss, or vice versa.
What kind of startups do you accept?
We’re focused on startups in the web, mobile, saas, and gaming spaces.
Is my company too early or late stage to apply?
No! Our alumni represent a wide spectrum of stages and all derived invaluable help from the program nonetheless. Nobody is too late in progress to apply.
Can I apply if I’m not from Canada?
Sure! Teams from all over the world apply. We can help you with getting settled into Montreal as well.
What do you provide?
Everything you need to get to the next level, and more opportunities than you will ever believe. While you’ll spend most of your time developing your product and business, we will also provide you with a pretty packed schedule of guest speaker presentations, one-on-one office hours, and feedback sessions with mentors and other teams, as well as over $150K in perks from our sponsors and partners. You can count on being surrounded by smart people, having a (small!) office space, access to meeting rooms, Internet, and as much RedBull and coffee as you can handle.
Do the teams need to be there for the entire time?
Yes. We understand there may be last minute unusual circumstances that change things, but you are expected to spend the 12 weeks in Montreal.
How does funding work?
Each team receives a $50K investment in exchange for 9% equity in the company. 
Is the 9% negotiable?
No it is not. All teams come in on the same terms.
What is the $150K convertible note we’re eligible for?
It means that on Demo Day you’ll be judged by a joint committee of FounderFuel management and the BDC to see if you are “venture ready.” If you are deemed ready, you will receive a $150K convertible note. A convertible note is basically a loan that turns into shares of a company. As a growing source of seed funding for many startups, convertible notes offer a loan that, instead of being paid back with interest, can be turned into preferred shareholdings of a company. Read more about convertible notes here.
I’m not sure if I should apply…who can I talk to to see if FounderFuel and I are a good match?
Your best bet is to hear it from the horse’s mouth. Our alumni are the best people to tell you about the program. Check out our Alumni page and get in touch with them!
Should I be worried about protecting my intellectual property?
No, you don’t have to be worried about it at all.

 

 

WHAT’S IN IT FOR US

The basics
Office space at Notman House, WiFi, meeting rooms, Red Bull, coffee, etc.
Balanced schedule
Guest speaker presentations, mentor office hours, design workshops with Jet Cooper, SEO and SEM workshops with Mediative, Mentor Happy Hours, special outings, etc.
Funding
Each team receives a $50K investment in exchange for 9% equity in the company.
$150 convertible note
A few days following Demo Day, a committee will sit down to talk about the FounderFuel graduates and determine whether they are “venture ready” or not. If your team is deemed “venture ready,” your company will receive a $150K convertible note. A convertible note is basically a loan that turns into shares of a company. As a growing source of seed funding for many startups, convertible notes offer a loan that, instead of being paid back with interest, can be turned into preferred shareholdings of a company. Read more about convertible notes here.
Over $150K in perks
Get free services and credits from partners such as Rackspace, Amazon AWS, Azure, etc. See the full list here.

 

 

APPLICATIONS

When is the deadline to apply?
Applications are accepted until Tuesday, October 15th, 2013. No late applications will be considered, so get yours in on time!
Where can I upload videos and attachments?
We’d prefer you just give us a URL to them.
Why do you require that I have a co-founder?
The 12-week journey is tough. Really tough! Your co-founder(s) is the one who’s going to pick you up when you get down and who will help you through the program (and you’re the one who’s going to help them through). Co-founders also help your company have a balance in skillsets, which is important both in an accelerator and out of one.
Why does development have to be done internally?
Your startup is going to be growing and changing at warp speed while you’re here. Having one, two, three, or even four developers means they’re working on the business just as much as you are and are able to keep up with the pace, as well as play the role they should in a business of which they are such a big part.
Why must we be working on our startup full-time?
FounderFuel ain’t no picnic. Boosting your startup in just three months and keeping abreast of your busy program schedule means that every spare minute will be needed for work or sleep. We’ll keep you busy with guest speakers, meetings, and office hours—all on top of the hours you’ll have to put in to push your business to the next level.
What should our video be like?
Your video should show who you are. If you get to the interview phase of the recruiting process then we’ll get to see you, but video is most often the only time we’ll see you. Have fun with it and show us why you are the cream of the crop!
Do we need to send in a business plan?
Nope! Business plans are old news in our world, and we’re more concerned with who you are. Just fill out the online application—that’s all we need! In fact, don’t send your business plan even if you’ve got one!
Can we ask you questions about the application?
Absolutely! Feel free to e-mail us at info@founderfuel.com with any questions you might have.
Do you have any tips?
Sure! Check out this blog post for lots of tips on applying.

 

 

MONTREAL

We don’t speak French, will that be a problem?
Not at all. Most people in Montreal are bilingual so you’ll do just fine if you only speak English. A word of advice, don’t go around asking people “Voulez-vous coucher avec moi?” because it won’t fly.
Are we required to stay in Montreal after the program?
Absolutely not. You live where you can best realize your goals – but we guarantee you’d be sad to leave!
Where do teams live while they’re there?
We will certainly provide guidance to help you find a place to stay, but you’re mostly on your own with this one. The good news is you can absolutely count on affordable living in Montreal.
What is Notman House and why is FounderFuel based there?
Notman House is Montréal’s technology hub and home of the web. A historic building that speaks to the stature of the city of Montréal in years past, the house has been revived by the startup community and now represents the future of the Montreal tech community. It boasts a café open to the public every day and offices and meeting spaces available for rent. It hosts over 120 events each year, houses almost 50 startups, hosts more than 25 hackathons and has led to the creation of over 200 new projects. The perfect place for you to take your startup to the next level and stay connected to the Montreal tech community!