A Hamilton-based business incubator has launched a new program aimed at weeding out and funding the strongest new business ideas among McMaster students, recent grads and alumni.
The Forge has launched Startup Survivor, a four-month innovation program inspired by the wildly popular reality show. It invites entrepreneurs to compete in a series of challenges throughout the Summer of 2021 and culminating in the Fall with a big pitch competition.
Winners of the competition will receive prize money to help in making their pitch a reality.
Throughout the course of the competition, The Forge will be handing out upwards of $75,000 to the 10 Startup Survivor finalists.
“Upon successful completion of the challenges, participants will receive cash prizes to further advance their startup,” the program’s website said.
“Only the top teams will outlast their competition and participate in The Startup Survivor Pitch Competition for the chance to win additional prize money.”
The challenges are designed to thoroughly test the participants’ acumen and the efficacy of their ideas to help them build towards the perfect pitch.
“With each challenge completed by the deadline, a release of funding will be granted for the startup,” the website said.
“Challenges have been awarded a monetary value and a point allotment that startups will receive upon successful completion as deemed by The Tribal Council (The Forge mentors and staff).”
Prelimary applications are now being accepted and any interested entrepreneurs have until March 1 to submit their application, with details about their novel business idea to The Forge.
To apply, participants must:
1. Be a current McMaster University student or alumni who graduated between Spring 2020-Present.
This includes any of the following:
– Part-time Undergraduate
– Full-time Undergraduate
2. If not a McMaster student or recent alumni, but have a Co-Founder who meets the criteria in #1 that will fill out the application form.
3. Have a unique business idea.
More information on application requirements and processes and the Survivor competition challenges can be found here.