FounderFuel ups the stakes for next cohort

Montreal-based technology accelerator FounderFuel is accepting applications for its next cohort of startup firms, and offering up a bit more coin to those that make the cut.

Teams accepted to the mentor-driven accelerator program that also promises three months of free office space in Silicon Valley will get $50,000 in seed funding. That will be given on day one of the program and is in exchange for nine per cent equity in the startup. Previously, FounderFuel gave out $25,000 in exchange for six per cent of equity.

It’s not the only cash the new cohort will see. If they survive until demo day with the accelerator, they’ll be able to access $150,000 in convertible debt and also tap an additional $150,000 of discounts and perks. Not a bad chunk of change for the capital-starved startups in this country.

Applications to FounderFuel are being accepted via AngelList and F6S.

Showcasing the FounderFuel Fall 2012 cohort.

Source | AngelList

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Jim Love, Chief Content Officer, IT World Canada

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Brian Jackson
Brian Jacksonhttp://www.itbusiness.ca
Editorial director of IT World Canada. Covering technology as it applies to business users. Multiple COPA award winner and now judge. Paddles a canoe as much as possible.

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