Velocity is committed to supporting founders through this tough time. That’s why we will be investing $50K to $100K in each of the top four promising, early-stage companies this June through our Virtual Velocity Fund Pitch Competition. #VVFPC
We have hosted a total of 26 Velocity Fund Pitch Competitions (VFPCs) since its inception. Each culminated with a live event that showcased some of the most promising early-stage startups in Canada. With the continued fight against the COVID-19 pandemic, we have decided to examine our business as usual approach to the next VFPC.
After internal deliberation, we have decided to host our next VFPC virtually. Investors, partners, and startup supporters will be able to experience the virtual event on June 18 in new and innovative ways.
You can apply immediately to enter the next VFPC for a chance to receive $50,000 to $100,000 in pre-seed investment.
Keep funding going. Keep people safe.
For years, early-stage startups from the Greater Toronto Area and Region of Waterloo have looked to Velocity to incubate and grow their businesses.
We know that early-stage funding has become less accessible due to economic uncertainty. But great companies still exist across many industries. Investing early is a good decision if the company can create economic impact during or post pandemic.
Velocity has always been committed to working with great founders to build impactful companies. We believe that the VFPC can play a smart role even in the current funding climate. Not hosting a VFPC because of the pandemic would be a mistake, and it would go against our founder-first focus.
At the same time, we must prioritize the health and safety of the community while we support the interests of highly promising, early-stage startups. Hosting a virtual VFPC is our best answer to the challenge.
How to apply
For those who are looking for a pre-seed investment:
- Applications are open now.
- Applications will remain open until 12 PM ET on May 15, 2020.
- There are still 3 broad steps to the competition.
All of these are consistent with how we typically manage this competition series.
Here are the changes you need to know when you submit your application:
- Investments from the Velocity Health Tech Fund
- Health tech startups are eligible to receive an additional $50,000 investment along with the standard $50,000 investment.
- Interview proceedings
- All interviews will be conducted virtually.
- A Google Meet link will be provided for participants who make it to the interview round.
- Practice proceedings
- All finalists are required to attend practice sessions.
- All practice sessions are conducted virtually. A minimum of two practice proceedings are mandatory for each finalist.
- Virtual event proceedings
- Finalists will be invited to film their 3-minute pitch at Velocity Incubator’s space early June.
- Details of health and safety protocols will be released in May.
We anticipate that the finalists will have opportunities to connect with supporters and investors virtually.
Marching toward the next VFPC
We look forward to reading your application and seeing you at the competition in June.
Interested in receiving updates of the virtual event? Click here!
Please stay tuned for more announcements to come.