For two decades now, Futurpreneur Canada has been supporting young Canadian entrepreneurs through funding, mentorship and tangible business tools made to both fuel their passions and accelerate their growth. On Wednesday, October 25, TACK10 had the opportunity to step into the ring as a mentor to ten startups taking part in Futurpreneur’s first-ever Growth Accelerator.
The initiative, which takes shape in two sessions over a 12-month period – one in the fall and another in the spring – provides ten chosen startups with knowledge on topics like growth strategies, sales, scaling production, securing investment, legal considerations with growth, and IP and licensing. Futurpreneur-supported companies were invited to apply to the accelerator program, with finalists pitching their growth challenge to a panel of judges before being chosen to take part in each of the two sessions.
In industries ranging from food production to real estate, and from companies 18 months to 20 years old, the selected startups enjoyed a day of interactive presentations and working sessions from growth experts.
President James Chalmers and Executive Vice President Laura Richard were invited by Futurpreneur to speak to Growth Accelerator participants about hacking your way to growth through partnerships.
“We were very happy when asked to join Growth Accelerator as presenters,” said Chalmers. “Not only does this program provide a great method of fostering innovation in our community, it allows us to pass along our experience in partnership development with the next generation of successful entrepreneurs.”
TACK10’s session provided tangible examples of traditional sponsorship and strategic business partnership, showcasing the ways in which the latter can be implemented to promote greater growth. The presentation also included interactive breakout sessions in which each organization had the chance to ask questions related to leveraging partnerships in their own capacity.
According to Chalmers, the discussion opened many participants’ eyes to the impact partnerships can have on their respective businesses and the fact that many of them are already engaging in partnerships without necessarily qualifying them as such.
“At TACK10, we believe in the move from traditional sponsorship to strategic partnership. Some of the Growth Accelerator participants are already making this move, which will result in a higher ROI than simply placing a name on a banner,” Chalmers said.
Strategic partnerships can provide value and enhance growth in a number of ways, including through social and digital initiatives, employee engagement, sales, customer experience, and overall business development. In fact, the Growth Accelerator initiative itself was born of a partnership between Futurpreneur and Spin Master Inc, with support from Morrison Financial and Dentons Canada.
The next Growth Accelerator session for the current group of startups will take place in the spring (exact dates to be announced).
Are you from a company – startup or otherwise – seeking growth through strategic partnerships and want to learn more about how TACK10 can help your business? Reach out today to gain access to our experts through a complimentary consultation. Have a business idea but not sure how to get it off the ground? See if you qualify for Futurpreneur’s financing and mentoring services.