Montreal’s Ecofuel accelerator program is offering a unique program for startups looking to expand into Boston.
The notable organization devoted to cleantech startups normally offers a four-month accelerator program. Now it’s offering a unique, one-year program in partnership with Boston’s Greentown Labs, the largest incubator in clean technologies in the United States.
Interested startups have until just Friday evening to get their applications in.
The program kicks off with a two day journey to Boston where selected startups will take part in the Horizon19 event, September 18 to 20. After that, companies will gain access to Greentown Labs’ coworking space in Boston for one year, as well as access to industrial partners and sponsors.
“It’s really to take advantage of the partnership that Ecofuel has with Greentown Labs so they can initiate their penetration in the Boston market,” said Ecofuel’s director of operations, Olivier Gagnon-Gordillo. “It’s not just a mission where we go for two days and that’s it. Its a full on, year-long supported program.”
The catch is that the program will take financial buy-in from both the companies and Ecofuel. The cost for a company is $1,000 for the year, and another $550 if they attend Horizon19. Ecofuel is covering part of the membership with Greentown Labs, and it will subsidize 75 percent of expenses for the companies during Horizon19 (a max of $750 for flights and $300 for hotel and food).
Gagnon-Gordillo acknowledged that “there are no freebies in this program,” and that Ecofuel is on the hunt for serious companies who are ready to expand to Boston, looking for real connections and willing to commit to the program.
“It’s all about the businesses,” Gagnon-Gordillo told MTLinTECH. “It’s quite a bit of work for us and our organization only gets enough to cover the membership with Greentown labs and travelling expenses. The real reason we do it because we know it’s useful for the companies. The most natural market outside of Quebec for industrial and cleantech companies is Boston and New York, so we’re trying to build those partnerships with those cities.”
Ecofuel is a venture capital fund and a specialized and personalized accelerator dedicated to seed stage cleantech startups. Ecofuel, powered by Cycle Capital, works with entrepreneurs to help build seed and early stage companies that develop and commercialize clean technologies.
The Ecofuel Fund invests in seed and early stage companies that develop and commercialize clean technologies, while the Ecofuel Accelerator offers entrepreneurs training workshops, networking sessions and an experienced mentor ecosystem. In addition to the support from the government of Quebec, the Ecofuel Accelerator, powered by Cycle Capital, benefits from the collaboration of Fonds vert, Écotech Québec and Innovacorp.