Frequently Asked Questions

When does the application for the next cohort start?

Applications for the Spring 2017 Cohort are now closed.

How much does FounderFuel invest?

Companies receive $100K CAD at a $1.9M CAD pre-money valuation, resulting in 5% dilution.

What else do FounderFuel companies get besides the money?

FounderFuel’s non-cash benefits represent a significant portion of the overall value provided by the program. Key benefits include:

  • Mentor Access – Direct access to one of the premier startup networks in Canada
  • Investor Access – Intros to Real Venture’s extensive investor network; Demo Day to launch fundraising
  • Office Space – 4 months of office space at Notman House, at the center of Montreal’s startup ecosystem
  • Execution Support – Intensive support from the FounderFuel team to drive massive output during the program
  • Training – Talks from top founders, skills workshops, and boot camps to help you and your team level up
  • Community – Connect to like minded folks in your cohort and the broader Montreal ecosystem
What are the requirements to apply?
  • A founding team of 2 or more people;
  • At least 1 technical co-founder to build the product;
  • A team working full-time on the company;
  • Based in Montreal or able to relocate
How do you choose companies?

While many factors come into play, we’re especially focused on a few key issues:

  • Team – Do the founders seem like people who could build a massive company?
  • Market – Is the company attacking a big problem that we can relate to?
  • Product – Is the product awesome? Can it deliver 10x value vs. other options?
  • Stage – Is the company at the right stage to benefit from FounderFuel?
What stage companies get the most out of FounderFuel?

There’s no one size fits all answer for this questions, as the experience of our alumni attests. But in general FounderFuel caters to companies that have a functioning product and at least some sort of early user base that they can work with during the program. Some companies have not raised any money prior to FoundrFuel while others may have raised small rounds from or friends and family or angels. Team sizes vary from 2 – 7. Most companies have been in operation from 1 – 2 years.

Are you interested in specific sectors?

In general, we are looking for companies that use technology as a core part of their value creation. In terms of economic sector, we are intentionally broad, as we believe software is truly eating all parts of the world. In terms of technologies, we are especially focused on companies that are leveraging AI and machine learning. Our AI focus is in response to the world changing power of this technology coupled with Montreal’s strong base of researchers and AI practitioners.

Do teams need to be in Montréal for the entire program?

Yes, teams are expected to be present in Montreal for the duration.

What is the BDC convertible note program?

At the end of the FounderFuel program, all teams are judged by a joint committee of FounderFuel management and the BDC. For companies that have attracted additional financing and are deemed venture ready, BDC will invest via a $150K convertible note.

“Je ne parle pas Français”, is that a problem?

Speaking French is not a requirement for the program in any way, as the sessions all take place in English. In terms of Montreal more broadly, both the startup ecosystem and the city are extremely easy to navigate even with little or no French. Et à l’autre côté, si tu veux apprendre un peux, on est ici pour t’aider!

Be motivated, make a difference