FedDev funds new Growth Acceleration Program

With funding from FedDev Ontario, the MaRS Discovery District has announced the launch of the Growth Acceleration Program, a multi-sector initiative designed to support executives of scaling, high-growth Canadian companies on their way to reaching $20 million in revenue.

“Given the state of today’s economic environment, supporting Canadian ventures has never been more crucial,” said Krista Jones, chief delivery officer, ventures and ecosystems group at MaRS. “We need to help companies look beyond capital markets, to economic opportunities, to really be able identify the threats and risks to their business models. This program will equip companies with the necessary tools of business fundamentals to optimize their growth inside whatever market conditions come their way.”

The Growth Acceleration Program is designed for ventures with total funding of between $10 to $20 million and/or annual recurring revenue of between $5 to $20 million that have a core product in the market with traction beyond early customers.

The program supports ventures within the Canadian ecosystem on their sales and marketing, revenue growth and talent development through expert advisory, data tools and community building opportunities.

“By guiding founders and their teams and ensuring their systems and processes are engineered to drive their desired outcomes and valuation milestones, these companies will have the capability to become world class category dominators,” said Dennis Ensing, chief venture advisor and vice president of venture growth at MaRS.