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Ecofuel Accelerator announces its Spring 2018 cohort, the seventh for the program

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The Ecofuel Accelerator has announced the five companies selected for its Spring 2018 cohort: AecopaQ, GiGrow, POTLOC, Senswear and Surveyor.city. Selected from 30 applicants, these companies make up the seventh cohort of the Ecofuel Accelerator, which will continue until May 2018.

The Montreal-based Ecofuel accelerator is targeted at clean tech startups and powered by Cycle Capital, and offers the mentorship and expertise to help them in their green endeavors. The program announced in December that it had received $5.5 million in government support from the Green Fund.

Since its launch in 2014, the program has supported 24 clean teach companies, including AEPONYX which recently announced $4.3 million in seed funding.

“It’s pretty specific what we do,” Olivier Gagnon-Gordillo, Director of Operations at Ecofuel told MTLinTECH in November. “Some other [accelerators] will do smart city, like InnoCité, and others are for AI or for something more general altogether. The main difference that we have is we’re specialized and personalized for businesses in clean tech. We connect participants with mentors who have experience specific to that field, people with experience on how to sell clean, green technology to the industry.”

READ ALSO: Ecofuel Accelerator announces $5.5 million in support from the Quebec government

That type of specialized expertise is vital to the companies in Ecofuel’s cohort, as entrepreneurs working in that sector tend to be on average older and with more experience than applicants to more generalized programs.

“We also try to establish if there are specific needs a company might have for specific expertise, and then we get them in touch with the right mentor for them. So some mentors might only meet one businesses in the cohort because the needs are so different between everybody. We do a diagnostic at the beginning, middle, and end of the cohort, and usually all of that culminates with them pitching to investors that are used to receiving pitches for clean tech businesses.”

The Ecofuel program, which started up in February, usually lasts around three to four months and involves a combination of individual mentor sessions and collective sessions. Entrepreneurs from the five companies will experience a program tailored to their needs, and receive mentorship and avice from about forty mentors who are references in cleantech, business, global markets and entrepreneurship.

“Ecofuel shares our belief that the urban big data analysis is a key element to build tomorrow’s smart cities. As such, they have a good understanding of the clients we’re dealing with and they were able to provide with personalized and specialized workshops and introduce us to top tier mentors in the industry,” Rodolphe Barrere, co-founder and CEO of POTLOC told MTLInTECH.
AecopaQ produces recycled fiber-based food packaging, GiGrow is an injection rotary cultivation system, POTLOC does big data management and analysis for retail, Senswear provides universal optical sensing technology distribution for harsh environment monitoring, and Surveyor.city is a data acquisition platform for building energy optimation.
“First, we’ve been honoured to be included to Ecofuel‘s 7th cohort. For us it means an exclusive access to an incredible pool of professionals to help and support us in our scaling. Offering us knowledge that we wouldn’t have acquired before years as well as great visibility and credibility. All of which gives us the little extra confidence we sometimes need as entrepreneurs to reach out for greater success,” the Surveyor.city team told MTLinTECH.
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