London, Ontario is home to several technology-oriented incubators. Innovation hubs such as Western University’s Propel and Fanshawe’s Leap Junction are a great place for startup companies to establish themselves and develop a minimum viable product (MVP), but once a firm reaches a certain size there’s limited structural support. So, what comes next? Where can early-stage businesses go to access scale-up resources, mentorship, and potential funding?
The Roundhouse (RH) Accelerator is perfectly positioned to meet the needs of businesses that have reached at least four team members and/or positive revenue growth. RH Accelerator focuses on the next stage of development and growth – accessing funding, expanding a base of customers, and getting to market faster.
Businesses involved with RH Accelerator have access to office space, a support network that includes tech sector leaders and their partners, and a connection to investors.
To be considered, technology firms can apply via RH Accelerator’s website. The simple application form is meant to help start a conversation between businesses and the accelerator and identify if there’s potential for a great relationship. If there is, RHA helps applicants identify their needs and formulate a growth plan.
RH Accelerator: Support for High-Tech Scale-Ups
After new businesses have passed the point of incubation, entrepreneurs should seek the help of accelerators to begin expanding and pursuing investment. This is where the Roundhouse (RH) Accelerator provides value; by connecting entrepreneurs to the right mentors and resources at the right time, companies can grow and reach their potential in less time.
The RH Accelerator builds on London, Ontario’s dynamic entrepreneurship community by providing that next step after incubation. RHA works with growth-stage companies that are ready to scale their operations and drive considerable sales compared to their current “seed” phase. Oftentimes, this growth seeks to “add an additional zero” to earnings and takes firms from ~$200,000 to ~$2 million in revenue.
RHA’s approach to the innovation and growth process incorporates a wide range of supports to ensure their users scale efficiently and maximize their chances for future success. Participating companies gain access to:
- Office Space: Available at London’s Roundhouse on Horton Street near Colborne Street, participating companies can access 510 square metres of physical office space. This places entrepreneurs close to RHA’s founders and mentor network while also controlling costs during the early stages of growth. Office space also helps to secure meetings with potential clients and enables the hiring of employees as the company grows.
- Founders: Participating companies can learn and exchange growth strategies with three tech sector executives, including David Billson (CEO of rTraction), Joe Dales (co-founder of Farms.com), and Brian Foster (co-founder of InnoSoft). These entrepreneurs provide first-hand experience in scaling early-stage businesses and can help navigate barriers to success.
- Mentor Network: Mentors add value by giving their insights and experience to the firms participating in the program. RHA’s mentor network includes business consultants, including Mentor Works, that offer insight into strategies companies can use to scale faster and with less risk.
- Investors: Matching investors to businesses is both art and science. That’s why RHA follows a model of investing at the right time for both investors and the firms. They help get firms investment-ready and take them to the right investors, making for an excellent fit that is mutually beneficial.
Who’s Eligible to Apply for RH Accelerator?
Entrepreneurs should bring their early-stage business to RH Accelerator if it:
- Operates within the technology sector;
- Has developed a minimum viable product (MVP);
- Has generated revenue and is ready to scale; and
- Faces growth barriers such as financing, resources, mentorship, or marketing.
Access RH Accelerator’s Facilities
240 Waterloo Street, #101
London, ON, N6B 2N4
Mentor Works and RH Accelerator: Government Funding for Early-Stage Tech Firms
Mentor Works is excited to provide Canadian government funding expertise and resources to the RH Accelerator community.
There are many perks to accessing RHA, including the ability to learn from top business mentors. Mentor Works’ team of Government Funding Planners are excited to work with RHA companies as they seek resources to expand cashflow. Through events and mentorship opportunities, Mentor Works will educate entrepreneurs to leverage government grants and loans.
While most Canadian government funding programs are targeted towards established, incorporated SMEs, there are still some grants and incentives that can provide support to early-stage innovators. Through Mentor Works’ relationship with the RH Accelerator, participating companies will learn how to access their first government funding programs while also exploring what they need to do to become eligible for hundreds of thousands or even millions of dollars in government funding.
How to Get Started at the RH Accelerator
Innovators can kick off the application process online via RH Accelerator’s website.
After submitting your application, the RHA team will review and consider whether your company is a good fit. If it meets the program’s eligibility criteria, you’ll be contacted to further explore your business model and company status. The program operates on a continuous intake of companies, so anyone can apply at any time.