Toronto-based technology startups accelerator Extreme Startups is changing its 12-week cohort program to three integrated programs focused on developing company founders, Extreme Startup’s managing director Marcus Daniels announced today in New York.
Three months after coming on board to lead the Extreme Startups program, Daniels says in a blog post about the change that he’s been thinking about how to disrupt the accelerator model for a few years. “The best way to disrupt an industry is to take a focused market driven approach with a team of entrepreneurial rockstars to co-create a bold vision in real-time,” he says.
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The new three-program strategy will result in more founders ready to be funded by venture capital, Daniels writes. The focus will be on advanced digital product management training in these three tracks:
- Founders Academy – Described as a “mentor-driven product leadership curriculum for founders work on early stage ideas.”
- Venture Advisory track – “High potential startups competing to get funded.”
- Advanced Cohort Track – “Our funded startups that focus on optimizing product-market with within a 16-week program.
Extreme Startups has graduated three cohorts since launching its program in 2012. It provided funding up to $210,000 per startup in exchange for six to 10 per cent equity stake and provided startup founders with an educational curriculum, access to a large array of business mentors, free office space, and other perks.
Applications for the new Founders Academy and Venture Advisory tracks will open later this month, according to Extreme Startups’ Web site. The accelerator is interested in technology-oriented firms with a focus on Web or mobile-based software. Daniels also showcased the four startups taking part in the Advanced Cohort track, also taking part in a VentureOutNY startup showcase. The startups are:
- Candid – a visual commerce platform that tells a brand’s story through the eyes and photos of its biggest fans.
- ExecNote – a sales automation platform that is changing the way sales teams sell to enterprise CEOs.
- FameBit – a one of a kind marketplace that matches and connects brands with accomplished video influencers.
- SqueezeCMM – a platform that helps companies measure, analyze and compare the effectiveness of content and social media channels.
Daniels also announced new hire Lauren Robinson as the head of operations and learning, tasked with launching the Founders Academy.