GrowLab vs. FounderFuel: How Do They Measure Up?
Two startup accelerator programs, GrowLab and FounderFuel, have been announced in the past couple of weeks. Both companies will offer new startups the knowledge and the means to become successful, but how does each program compare?
Location:
- GrowLab: Vancouver & San Francisco
- FounderFuel: Montreal
Start date:
- GrowLab: August 15, 2011
- FounderFuel: August 15, 2011
Program duration:
- GrowLab: 4 months (3 months in Vancouver; 1 month in San Francisco)
- FounderFuel: 3 months
Accelerator Funding:
- GrowLab: $2.5 Million
- FounderFuel: Over $2 Million dollars committed to date
Individual Investment size:
- GrowLab: Up to $25,000 in exchange for 5-10% equity in the company. In addition to the $25K in seed funding, GrowLab has partnered with BDC to offer each company that successfully graduates from the program up to $150,000 in follow-on funding.
- FounderFuel: Each team in the program receives a $10K investment, plus an additional $5K per co-founder in exchange for 6% equity in the company. As an example, a team of 3 will receive a total of $25K.
Who’s Involved?
- GrowLab: Managing Director Michael Tippett and founders Boris Wertz, Leonard Brody, Debbie Landa, and Jason Bailey.
- Founder Fuel: General Manager Ian Jeffrey and 85 experienced entrepreneurs, top executives, VCs, and Angels to join the team of mentors (all of them men).
Deadline to apply:
- GrowLab: June 15, 2011 – Apply now.
- FounderFuel: July 1, 2011 – Apply now.
Disclosure: GrowLabs’ Boris Wertz and his W Media Ventures is an investor in Techvibes Media Inc.
