for innovators

THE ACCEL-RX GROWTH PLATFORM

Our goal is to move companies through the seed stage of development to a level where they can successfully raise a series A or similar type of venture financing. Accel-Rx recognizes this requires more than capital alone, so we’ve created the Accel-Rx Growth Platform – a collaborative partnership-based program focusing on Capital, Connections, and Acumen to help companies prepare for the next stage.

Mentorship

Talent

Networking

Investment
Forums

Services
Directory

Financial
services
support

Milestone-based
planning

Business &
Scientific Training

Pitch
coaching

Deal
Type

Investment
Size

Third-party
match

  • Mentorship

    The Accel-Rx National Mentoring Program (AMP) connects founders and CEOs of promising early-stage life science companies to professionals with deep and diverse global expertise in commercialization, and business execution.
  • Talent

    Portfolio companies can source advisors and key management personnel through Accel-Rx to help hire the right expertise at the right time.
  • Networking

    Accel-Rx provides opportunities for portfolio companies to meet with key investors, potential strategic partners, advisors, and other entrepreneurs.
  • Investment Forums

    Companies are invited to participate in Accel-Rx sponsored investment forums where they can present to, receive feedback, education, and coaching from key investors.
  • Services Directory

    Health science development is complex, requiring multiple disciplines. Accel-Rx supplies portfolio companies with a directory of approved professional firms from across Canada representing all areas of specialized expertise.
  • Financial services support

    Accel-Rx provides strategic financial and bookkeeping services to portfolio companies during the first year post-investment.
  • Milestone-based planning

    Following a comprehensive joint assessment to determine development gaps, a milestone-based plan is put in place to help the companies become venture-ready.
  • Business & Scientific Training

    Accel-Rx provides training sessions covering business or scientific areas most pertinent to the challenges facing early-stage health innovation companies. Check our training and event calendar for more details.
  • Pitch coaching

    Great technology deserves equally great communication—a clear and compelling story to help investors understand the benefits of supporting it. Accel-Rx offers communications guidance and advice to help portfolio companies become pitch-perfect.
  • Deal Type

    Convertible notes are the preferred method of investment, however equity is also an option.
  • Investment Size

    Accel-Rx invests up to $0.5 million per company, alongside founding partner, BDC Capital, who also invests up to $0.5 million for a total investment of $1 million. A third party match of at least $0.5 million is also required. Average deal sizes range between $2 to $5 million.
  • Third-party match

    Along with the $1 million investment from Accel-Rx and BDC, a match of at least $0.5 million by a third-party investor is required. Applicant companies should generate interest from third parties prior to applying to the program. Third-party sources can include friends and family, angels, foundations, among others.
  • click on wheel for more details
  • Capital

    Investment Size

    Accel-Rx invests up to $0.5 million per company, alongside founding partner, BDC Capital, who also invests up to $0.5 million for a total investment of $1 million. A third party match of at least $0.5 million is also required. Average deal sizes range between $2 to $5 million.

    Deal Type

    Convertible notes are the preferred method of investment, however equity is also an option.

    Third-party match

    Along with the $1 million investment from Accel-Rx and BDC, a match of at least $0.5 million by a third-party investor is required. Applicant companies should generate interest from third parties prior to applying to the program. Third-party sources can include friends and family, angels, foundations, among others.

  • Acumen

    Pitch coaching

    Great technology deserves equally great communication—a clear and compelling story to help investors understand the benefits of supporting it. Accel-Rx offers communications guidance and advice to help portfolio companies become pitch-perfect.

    Business & Scientific Training

    Accel-Rx provides training sessions covering business or scientific areas most pertinent to the challenges facing early-stage health innovation companies. Check our training and event calendar for more details.

    Milestone-based planning

    Following a comprehensive joint assessment to determine development gaps, a milestone-based plan is put in place to help the companies become venture-ready.

  • Connections

    Mentorship

    The Accel-Rx National Mentoring Program (AMP) connects founders and CEOs of promising early-stage life science companies to professionals with deep and diverse global expertise in commercialization, and business execution.

    Talent

    Portfolio companies can source advisors and key management personnel through Accel-Rx to help hire the right expertise at the right time.

    Networking

    Accel-Rx provides opportunities for portfolio companies to meet with key investors, potential strategic partners, advisors, and other entrepreneurs.

    Investment Forums

    Companies are invited to participate in Accel-Rx sponsored investment forums where they can present to, receive feedback, education, and coaching from key investors.

    Services Directory

    Health science development is complex, requiring multiple disciplines. Accel-Rx supplies portfolio companies with a director of approved professional firms from across Canada representing all areas of specialized expertise.

    Financial services support

    Accel-Rx provides strategic financial and bookkeeping services to portfolio companies during the first year post-investment.

Eligibility

  • Validated technology
  • Therapeutic, diagnostic, or medical device
  • Company has ownership or control of the intellectual property
  • Incorporated in Canada
  • Valued between $1 -$5 million
  • Previous external funding less than $2million

Ready to grow?

apply here

Process

01

Screening

Initial screening and presentation to Accel-Rx team.

02

Pre-Proposal

Selected companies are invited to submit a pre-proposal.

03

Application Review

Pre-proposals are reviewed by the Accel-Rx team and Investment Committee composed of Canadian and US industry experts.

04

Full Proposal

Selected companies are invited to submit a full proposal. Due diligence and preliminary term sheet preparation occurs in tandem.

05

Final Presentation

Final presentation to Accel-Rx team and Investment Committee.

06

Decision

Recommendation by Investment Committee and board approval.

07

Program Implementation

Joint assessment to determine development gaps and programming needs. Milestone-based plan created.

Selection process

During the screening process, applicants are classified as either ‘Seed’ or ‘Pre-seed’ companies. Seed companies receive funding and full programming support while Pre-seed companies receive partial programming as they complete additional development work. Pre-seed companies are eligible to reapply for Seed company status at a later date.

FAQs

  • Why do I need a third party match?

  • Do I need to have the third party match before submitting an application or will Accel-Rx help me find a third party investor?

  • Do you invest in Health IT?

  • Do I have to be recommended by a Center of Excellence for Commercialization and Research (CECR) in order to submit an application?

  • Do you only invest in small molecules?

  • Does BDC always co-invest?

  • Do you only do convertible notes?

  • Valuation?

  • What types of third party match can be used?

  • How long is the process?

  • Does Accel-Rx require a board Seat?

  • What benefits does Accel-Rx provide?

Why do I need a third party match?

The purpose of a third-party match is twofold: first, it helps to offset the investment risk; secondly, it serves as an indicator of the company’s ability to secure financing at later stages.

Do I need to have the third party match before submitting an application or will Accel-Rx help me find a third party investor?

Having third party interest prior to submitting an application increases the strength of the submission, however Accel-Rx also facilitates introductions between candidate companies and potential investors.

Do you invest in Health IT?

Accel-Rx invests in medical devices that have a software component, but not stand alone software or other IT solutions.

Do I have to be recommended by a Center of Excellence for Commercialization and Research (CECR) in order to submit an application?

No it is not necessary to have a CECR recommendation to apply.

Do you only invest in small molecules?

We are open to all therapeutics including small molecules, biologics, and platform technologies.

Does BDC always co-invest?

The majority of our investments are made in conjunction with BDC Capital, but it is not a requirement that they invest with us.

Do you only do convertible notes?

Both convertible debentures and equity are acceptable forms of financing.

Valuation?

The ideal valuation range for a potential Accel-Rx portfolio company is $2 to $5 million

What types of third party match can be used?

Accel-Rx accepts a wide range of matching fund sources including contributions from foundations, angels, NIH grants, CECR contributions (unless the Center was involved in original development of the company), and various government grants.

How long is the process?

The process typically ranges between 3 and 6 months from pre-proposal until final closing.

Does Accel-Rx require a board Seat?

Yes. Either a member of the Accel-Rx team or an industry representative appointed by Accel-Rx will sit on the board of the portfolio company once an investment has been made.

What benefits does Accel-Rx provide?

In addition to providing a capital investment, Accel-Rx works directly with each company to refine its business plan, help build the right team, and provide key connections to potential partners and investors.

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