MONTRÉAL, Oct. 2. 2014 /CNW Telbec/ - Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital Management is happy to announce the launch of Ecofuel, a new accelerator for startup companies in clean technology. The accelerator will be led by Simon McDougall, who will be its new CEO & Head Coach.
The four-month acceleration program is targeted for early-stage startups and will offer a seed investment of up to $100,000 and involves an intensive program with training workshops, networking sessions and a heavy-hitting mentoring ecosystem. Participating companies will also be hosted in a dedicated facility in Montreal for the duration of the program. Ecofuel will launch its first cohort in January 2015.
"Building on the Cycle Capital investment platform, Ecofuel is a lean and mean model that is based on expert volunteers who will help prepare our entrepreneurs to build globally competitive companies, says Ms. Méthot."
"Our objective is to help propel our entrepreneurs to build a robust and ambitious business plan to present to investors at the end of the program, says Mr. McDougall. Our model is unique: an open platform that will permit all investing members to participate in funding the companies in each cohort."
In addition to the financial and logistical support from Cycle Capital, Ecofuel is also counting on the support and collaboration of Écotech Quebec and Sustainable Development Technology Canada (SDTC). A group of world-class and internationally experienced mentors and trainers have been recruited to support the development of the participants including: Simon Olivier, Vice President Growth, Market Strategy and Business Development at GE Canada; Jane Kearns, Senior Advisor, Cleantech at MaRS; Jean Lamarre, Managing Partner at Lamarre consultants; Alexandre Taillefer, Managing Partner at XPND Capital; and Tony Van Bommel, Senior Managing Partner, Industrial, Clean and Energy Technology Venture Fund at BDC Capital.
Applications are being accepted until November 15th at midnight; candidates can apply at ecofuelaccelerate.com.
Ecofuel is a startup accelerator that works with entrepreneurs in clean technology to help build globally competitive companies. In addition to seed financing of up to $100,000, Ecofuel offers its entrepreneurs an intensive program of training workshops, networking sessions, and an experienced mentor ecosystem. Participating companies will be hosted in a dedicated facility in Montreal for the duration of the program. The objective of the program is to develop entrepreneurs and help in the successful creation of companies.
About Cycle Capital Management
A pioneer among Canadian venture capital funds focused on the clean-tech sector, Cycle Capital invests in companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency throughout a product's life cycle.
With assets under management of $230 million, Cycle Capital invests in Quebec and northeastern North America. Cycle Capital is composed of experienced investment professionals, strategic advisors, and industrial partners with in-depth knowledge of the sector. Cycle Capital has a special relationship with its strategic partners, notably Brookfield Renewable Energy, Rio Tinto Alcan, Cascades, Group M3, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec.
SOURCE: Cycle Capital Management
For further information: Guillaume Bérubé, 514-282-4719, 514-883-5948 (cell)