The Venture Acceleration Program is a fee-based, structured venture development service designed to guide, coach and grows ambitious early‐stage technology entrepreneurs in B.C. Specifically, the program is structured to help technology entrepreneurs accelerate the process of defining a proven business model for sustained profitability. It is delivered by a team of Executives in Residence (EiRs) and supported by a province‐wide network of mentors, both of whom are trained and accredited by the Innovate BC Mentor Program.
The foundation of the Venture Acceleration Program is Steve Blank’s Customer Development Model and Eric Ries’ Lean Startup framework. It defines the venture growth cycle in four stages as shown in the illustration.
Executives in Residence and Mentors in the Innovate BC Acceleration Network are successful professionals in business and entrepreneurship and they are trained in the use of this model to grow a technology company. Although not official roles, they are conceptually positioned as an extension to the management team and as members of the board of directors.
Through an intense and regular regimen of collaboration, work-plan development, and formal management oversight, they coach entrepreneurs through the venture growth cycle while utilizing their personal experience to assist and mentor entrepreneurs in overcoming tactical and strategic challenges. Entrepreneurs are held accountable through weekly status reviews and a series of quarterly performance updates which encourages them to aspire to a rhythm of setting objectives and reporting results on a regular basis. The objective is to get things done fast – the right things!
More information: http://www.bcacceleration.ca/