Jolt accelerator startups to get $30K in initial funding

Web and mobile startups accepted into the new Jolt accelerator program will each get $30,000 in initial funding, program organizers announced today.

The Toronto accelerator, launched recently by the MaRS DiscoveryDistrict, also said today the deadline to apply online is May30. Eightcompanies will be accepted for the inaugural cohort of the programwhich starts this summer and lasts four months. (No exact start datewas announced.)  That’s about half of the 15 startups in totalthat organizers have said will be accepted for the initiative annually.

Besides the $30,000 in funding, the startups can tap into almost$100,000 in free perks from more than 25 IT vendors including Amazon,Rackspace and PayPal. They will also receive office space in the MaRSCommons facility and access to a network of over 80 mentors, advisorsand investors.

In addition, Jolt organizers said today the program has joined theU.S.-based Global Accelerator Network, agroup of accelerators fromaround the world which was founded in 2010.

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Jim Love, Chief Content Officer, IT World Canada

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