All three offer the funding and mentorship new startups need to succed, but how does each program compare?
The big difference is that Mercury Launch is open to ONLY Ottawa-based startups whereas both FounderFuel and GrowLab are accepting applications from entrepreneurs worldwide. Here’s the rest of the tale-of-the-tape:
- FounderFuel: August 15, 2011
- GrowLab: August 15, 2011
- Mercury Launch: September 5, 2011
- FounderFuel: 3 months
- GrowLab: 4 months (3 months in Vancouver; 1 month in San Francisco)
- Mercury Launch: 3 months (plus one optional month in New York, San Francisco, or Summerview)
- FounderFuel: Over $2 Million dollars committed to date
- GrowLab: $2.5 Million
- Mercury Launch: $2 Million +
Individual Investment size:
- 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.
- 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.
- Mercury Launch: Up to $25,000 depending on need and situation for between 5-10% depending on the stage of the business and opportunity size.
- Founder Fuel: General Manager Ian Jeffrey and 85 experienced entrepreneurs, top executives, VCs, and Angels to join the team of mentors.
- GrowLab: Managing Director Michael Tippett and founders Boris Wertz, Leonard Brody, Debbie Landa, and Jason Bailey.
- Mercury Launch: Managing partners Scott Annan, Rob Woodbridge, Scott Lake; a loaded advisory board (to be announced next week), and over 25 mentors to date.
Deadline to apply:
- FounderFuel: It was July 1st. Applications are currently closed.
- GrowLab: It was June 15th but you can apply now for the Spring 2012 cohort.
- Mercury Launch: August 20th.
Disclosure: GrowLabs’ Boris Wertz and his W Media Ventures is an investor in Techvibes Media Inc.