istarthub and R&D Capital launch an acceleration program
R&D Capital, the Montreal headquartered financial institution that specializes in financing federal and provincial refundable tax credits has partnered with istarthub to launch a specialized acceleration program for high potential startups that are driven by a strong emphasis on technology development and advancement. istarthub is a division of CBA, US based group that runs startup acceleration programs based on industries, markets and special themes.
The program, named istarthub R&D Capital – powered by CBA, would host its first pitch on Thursday, 30 January 2020 at the R&D Capital offices in Downtown Toronto and is currently accepting applications from startups across industries such as but not limited to ICT, Manufacturing, F&B and Agriculture, Life Sciences, FinTech & InsurTech, CleanTech, Media & Gaming amongst others. Each month, one high potential Canadian startup would be onboarded into the program. The key objective of the istarthub R&D Capital acceleration program is to provide valuation building resources to participating startups such as Access to Growth Capital, Support on Sales Channel Development and Access to Mentors throughout the 12 month duration of the program. As part of the program, R&D Capital may participate through Short-Term Capital based on SR&ED receivables and istarthub would plug-in the various acceleration modules. Other Investment Partners associated with the program may decide to participate in the round as well. The participating startups will also have access to pedigreed Mentors such as Shakir Hussein (Director, 407 ETR), Bob Darling (Ex-Director of Economic Development, City of Brampton), Nikhil Rodye (Vice-President, R&D Capital), Kaushal Chokshi (Founder & CEO, istarthub Accelerators) amongst others.
Pierre Binette, CEO & President of R& D Capital said “Angels and VC’s in Canada today are doing a fantastic job providing capital and our financing complements that capital. As startup system becomes more sophisticated there is an increasing need for extended capital and R&D Capital’s suite of products provide that much needed capital based on SRED &Provincial Media tax credits. Each year we help 200+ companies get access to capital who in turn use this to fuel growth, hire great talent, file patents, get products to market faster and fulfill other strategic working capital needs.”
Ashwin Sanzgiri, Program Director, istarthub R&D Capital, provided a perspective on how startups can take advantage to expedite growth through the program, “R&D Capital is a key player in the SR&ED financing product segment and coupled with istarthub’s acceleration resources, the participating startups would be a part of a holistic ecosystem that is focused on building the business valuation allowing the Founders to stay focused on key execution aspects.”
About R&D Capital
R&D Capital is Canada’s largest provider of tax credit based financing coast-to coast. Started in 2004 ,R&D Capital has disbursed in excess of 500 million CDN and finances 200+ companies each year.
CBA’s istarthub acceleration programs provide expedited growth support for high potential startups by providing access to valuation building resources. istarthub acceleration programs operate across markets and are also focused on industry-specific themes.