AcceleratorEquity-free

Velocity

Waterloo, ON, Canada

The world's largest free startup incubator, having launched 400+ companies whose founders raised $3.6B+ combined.

Location:
Waterloo, ON, Canada
Duration:
12 weeks

What you need to qualify

  • Your primary focus must be the startup: 'We require your primary focus to be on your startup, not school or other jobs', and 'We do not accept part-time founders'.
  • Teams must be physically present: 'We ask that all new teams work out of Velocity at least 1 day a week (but ideally, 5-7 days per week) for the first 3 months'.
  • Solo founders through larger teams are accepted, though Velocity notes 'our experience shows that teams of 2-4 founders have better outcomes'.
  • All founder backgrounds are welcome, including technical, non-technical, students, career professionals and visa holders.
  • Gambling, firearms and illicit substance businesses are not supported.
  • Selective: Velocity states roughly a 10 percent acceptance rate.

Eligibility

Eligible stages
All stages
Countries
Global, subject to the provider’s eligibility and approval

How to apply

  1. 1

    Fill in the application form

    The form is hosted at forms.fillout.com/t/ocQRRAT8bLus and takes about 30 minutes. Velocity expects it to show real customer discovery, how the founders know each other, a clear product description and a market analysis, so do that work before opening the form.

  2. 2

    Selection committee review

    The committee reviews applications over 1 to 2 weeks. Velocity states you should hear back within a couple of weeks of submitting.

  3. 3

    Virtual interview

    A 30 minute video interview with the team.

  4. 4

    Receive milestones

    Velocity assigns milestones over the following 1 to 2 weeks. This is a working stage, not a formality: the milestones are specific to your startup.

  5. 5

    Complete the milestones

    Founders take 1 to 6 weeks to complete the assigned milestones. The length depends on the milestones, so the total application timeline varies.

  6. 6

    Final virtual review

    A final 30 minute virtual review, after which the decision is made and accepted founders are onboarded in the next intake.

Frequently asked

No. Velocity states 'Applications accepted all year round' and onboards founders every two months (January, March, May, July, September and November), so the intake rhythm is a start date rather than a cut-off.

Founders whose primary focus is the startup, working out of Velocity in Kitchener-Waterloo at least one day a week for the first three months. Part-time founders are not accepted. Solo founders can apply, though Velocity says teams of 2 to 4 have better outcomes, and technical founders, non-technical founders, students, career professionals and visa holders are all eligible. Gambling, firearms and illicit substance businesses are excluded.

The form itself takes about 30 minutes. End to end the process runs roughly 1 to 6 weeks: 1 to 2 weeks of committee review, a 30 minute interview, 1 to 2 weeks to be assigned milestones, 1 to 6 weeks to complete them, then a 30 minute final review.

Mentorship and coaching, workspace and facilities in Kitchener-Waterloo, programming and networking events, and access to a community of over 500 founders. The Apply page publishes no cash investment figure and no equity terms.

Velocity publishes an acceptance rate of roughly 10 percent.
General

Browse more like this: Startup accelerators in Canada

Related programs

MassChallenge

Remote

Equity-free accelerator + non-dilutive cash prizes

Antler

Multiple cities, Global

~$100K–$250K for ~10% + a 6-month residency

500 Global

San Francisco, United States

A $150,000 investment for a 6 percent stake, plus a four month in-person program in Silicon Valley.

We have not been able to confirm a deadline for this one. Check the official page before you start.

Do I qualify?

2 things decide this one. Check yourself against them before you spend time on the form.

Stage
Idea, Pre-seed
Where it runs
Canada. In person, so you need to be able to take part there
What you give up
No equity stated
Deadline
Not confirmed. Check the official page

That is the rulebook. What we cannot show you here is whether your startup clears it, how this ranks against the other programs you qualify for, and what to fix if you do not.

Check what I qualify for

Five questions, about a minute, no account needed.

Last verified against the official page. Report an error

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