Montréal, November 10, 2020 — Bonjour Startup Montréal, in partnership with BDC Capital, today launches the Invincible Collective, a brand-new initiative to provide a service offering designed for Quebec companies in the hypergrowth phase, commonly referred to as “scaleups.” The Collective’s aim is to develop a community of accomplished entrepreneurs, coaches and experts driven by a desire to help “invincible” companies – companies that are able to weather crises and continue to grow successfully.
Supporting hypergrowth in times of crisis
Scaleups are high-growth companies with solid financing and at least 10 full-time employees. Neither startups nor SMEs, they generate significant economic and social benefits: job creation, tax generation, exporting Quebec ingenuity through the innovations they commercialize, stimulating the economy, and contributing to the prosperity of Quebec society.
Before now, there have been no groups, services or supports specifically for scaleups in Quebec, even though they have very particular realities and issues. “One of the shortcomings in Montréal and Quebec is the lack of support for young companies in their hypergrowth phase. Our intent with the Invincible Collective is to help keep scaleups alive by creating an ecosystem that takes their specific characteristics into account,” explains Liette Lamonde, co-founder and Executive Director of Bonjour Startup Montréal.
The Invincible Collective hopes to energize this community by promoting exchanges through coaching offered by accomplished entrepreneurs and experienced executives as well as world-class conferences focusing on scaleups’ issues and realities, such as the development of growth hacking strategies.
Two entrepreneurs in residence – Ethan Song, co-founder of Frank & Oak, and Kyle Boulay, co-founder of bus.com – as well as a dedicated concierge will be available to assist participating companies in selecting the services that best suit their particular needs.
Companies wishing to become members of the Invincible Collective must satisfy the following criteria:
- be a technology company in hypergrowth
- have existed as a company for less than ten years
- have a pre-COVID growth rate of at least 20% per year over three years (revenues and/or employees)
- have raised about $2 million in equity capital and/or non-equity capital
- have at least 10 full-time employees
- have a good match between its product and the target market
- have a founder who is a Canadian citizen or permanent resident
- have a head office in Quebec
The member companies will collaborate with Bonjour Startup Montréal in continuously improving the Invincible Collective’s offering. Among the first scaleups to be chosen for this initiative: Aerial Technologies,an artificial intelligence company, Breathe Life, an e-commerce platform in the insurance industry, AON3D,a 3D printers manufacturer and Moka, a fintech company.
“Aerial is excited and honored to participate in Bonjour Startup Montreal’s Invincible Project. We look forward to working with Bonjour Startup Montreal and maximizing the offering of the Invincible Project as we navigate the unique challenges of our next level growth and expansion. The Invincible Project provides resources and expertise which are generally not available to Scale Up companies, providing Aerial a unique market advantage” says Steve Sifferman, CEO of Aerial Technologies.
For more information, please visit the Invincible Collective’s website, https://collectifinvincible.ca/en/