Extreme Startups, a Canada-based startup accelerator helmed by Dan Debow, a co-founder of performance management software developer Rypple, and backed by a host of venture investors, was launched on 31st January. Chief among them is the Research in Motion-affiliated corporate venturing fund, Blackberry Partners Fund (BPF), also the last workplace of Extreme’s Chief Innovation Hunter, Andy Yang. The third key member of the team is Sunil Sharma, formerly the International Director for Canada’s Venture Capital and Private Equity Association, and now the Chief Connector for Extreme Startups. Also supporting Extreme is Rho Canada, a venture capital (VC) division of private equity firm Rho Capital Partners, as well as OMERS Ventures, a division of the Canada-based OMERS pension fund, VC fund Extreme Venture Partners and the Business Development Bank of Canada. Extreme Startups will provide the sum of $200,000 to each of its portfolio startups, consisting of $50,000 upfront, followed by $150,000 once the business graduates from Extreme’s 12 week incubation program. The process will be aided by more than 20 mentors, each with experience in the social, mobile or software-as-a-service fields. Each cohort will consist of five startups and will run on a six month cycle of applications, selection, incubation and ending with a Demo Day. Extreme has stated that it is open to any and all startups equipped with compelling ideas and solutions, but is looking to concentrate on companies developing web or mobile-based software. Applications are now open and can be submitted via Extreme’s website, up until March 1st.
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Extreme Startups open for business
Feb 8, 2012 • Robert Lavine
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