[Betakit] - Startup Montréal Awards $400,000 to Startups

Montréal-based FounderFuel and Startup Montréal have unveiled the startups participating in their respective programs that both provide funding and mentorship to tech founders.

FounderFuel has revealed the seven members of its 2023 cohort as the accelerator makes its return, while Startup Montréal recently awarded $400,000 to the 20 startups participating in its Revelations (Bourse+) program last week.

FounderFuel, which was created by Real Ventures, was previously paused in 2020 with one virtual installation. It has now returned with a more national mandate that goes beyond Montréal, thanks to the trio of RealVentures, Panache Ventures, and Inovia Capital.

Members of FounderFuel’s 2023 cohort are AIM Colours, Artemis, LeaseSimple, Prospecer, Quack, Roll, and SnapWrite AI.

The participating startups in FounderFuel’s 2023 cohort offer tech-enabled solutions to a variety of industries. Montréal startup AIM Colours, for example, is developing press-on nails that can wirelessly change colours by using a mobile app. On the other hand, Vancouver-based Quack offers a prospecting platform to simplify cold calling for salespeople.

FounderFuel’s latest cohort also includes Vancouver-based Artemis, Montréal-founded LeaseSimple, as well as Toronto-headquartered startups Prospecer , Roll and SnapWrite AI

Originally founded in 2011, FounderFuel is a four-month accelerator program that provides startup founders with seed funding and access to a network of mentors. For the 2023 program, Real Ventures, Panache Ventures, and Inovia Capital are collectively making $120,000 CAD investments in each participating firm in exchange for an equity stake.

FounderFuel general manager and Real Ventures manager Katy Yam said that the program actively encouraged underrepresented groups to apply through collaborations with groups like Rep Matters and regional tech hubs.

Yam said that over half, 57 percent, of the cohort include at least one founder from a racialized group. She added that this year has three female CEOs participating in the accelerator.

Startup Montréal’s Revelations program is an annual competition that regularly awards twenty businesses every year. Each of the startups received a $20,000 grant after taking part in a 60-second pitch in this year’s installation.

The 20 members of the 2023 Revelations cohort are:

• Azimut Médical
• Bello
• BioLift
• Displaid
• Ditch Labs
• GC Lipid Tech
• Genuine Taste
• InPilot
• Iris + Arlo
• Juno Technologies
• Sapien Health (previously Kenko)
• LithologIQ
• MISO Chip
• Momentum Health
• Mythologi
• Pricepoint
• Solutions Ecotime
• Sonaro
• Technologies Aim Colours
• Tokidos

In addition to funding, Revelations’ participants also get access to support offered by Startup Montréal’s network, which comprises 350 volunteer coaches and 1,110 founders. They can also participate at several major events including the Grand-messe Startup Montréal, as well as international conferences such as Collision in Toronto and Web Summit in Lisbon.

Revelations is the new version of Grant+, Montréal Inc.’s flagship program. Montréal Inc merged with Bonjour Startup Montréal in February 2022 to form what is now Startup Montréal.

Including the Revelations program, Startup Montréal offers a variety of support programs for founders. Following the merger, it launched an accelerator for “high-growth” businesses, in partnership with Apexe Global. It also delivers workshops for startup financing and aspiring women entrepreneurs.

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