Venture Services helps your company scale further, faster.
The Venture Services program is designed for innovative tech companies that are ready to scale, with the ambition to grow to $25 million in five years.
Think Venture Services is right for you? Read the eligibility criteria below to get started.
How does it work?
Intensive Advisory Services
The Venture Services program offers intensive, hands-on advisory services and tailored curriculum to help accelerate growth and build business sustainability.
Each venture is assigned two mentors with industry expertise to optimize its progress. The Venture Services team focuses on leveraging established industry partnerships and relevant advisory expertise to help companies build sales and marketing systems to aggressively grow their customer base, cultivate top talent to grow their team and secure investment capital to propel them forward.
Some of the program benefits that companies could receive include:
Two Senior Analysts effectively become part of a venture’s team. They not only advise a venture but function as quarterbacks for support and resources, including capital, within the entrepreneurial ecosystem.
The Analysts collaborate with the venture to create an account plan laying out the company’s goals and setting metrics for success during their time in the program.
Legal and accounting services and use of ventureLAB’s own Market Research Analyst.
Workshops, peer-to-peer events and other educational opportunities provided by thought-leaders, ventureLAB and other entrepreneurs designed specifically Venture Services companies.
Access to hot desk facilities and meeting rooms in the IBM Innovation Space – Markham Convergence Centre.
Is your company eligible for Venture Services?
A minimum of three months of increasing revenue from customer purchases
You have a well-thought-out business model
A clearly-articulated strategic partnership and implementation strategies
You know your customers, competitors and market well
There is a well-considered understanding of your risk and strategies to ameliorate it
You understand the economics for your industry and the financials for your venture
If you’re a social enterprise, you can articulate your social and/or environmental outcomes and impact and know how your business model will help you to achieve them
A full-time CEO who is 100% focused on revenue growth
A full-time position focused on technology development
A resource plan for staffing or outsourcing skills in the 12 months
You’re in a fast-growing or emerging market
25 in 5: You can articulate a path to $25M Annual Recurring Revenue in 5 years
You have cash to provide you a 12-month runway from the start of the program
You have sufficient cash flow to execute on your milestones in the next 12 months
You won’t actively fundraise for the first 3 months of the program (CEO must be 100% focused on revenue growth)
SKILLS & RESOURCING:
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Find out more about Venture Services, sign up for orientation today!