Istarthub and Bereskin & Parr launch accelerator for IP powered startups!
Bereskin & Parr LLP, one of the leading Canadian IP boutique law firm, with offices located in major economic and technology centres, has partnered with istarthub to launch a specialized acceleration program for high potential Canadian startups that are driven by a strong emphasis on intellectual property. istarthub is a division of CBA, a US based group that launches startup acceleration programs based on industries, markets and special themes.
The program, named istarthub Bereskin & Parr — powered by CBA, will cherry pick high potential Canadian startups at a seed/pre-Series A stage and provide resources to expedite growth, thus staging them for an institutional round of funding. The program is accepting applications from startups across industries such as, but not limited to, Artificial Intelligence, Automotive, Logistics, Cannabis, Chemical, Cleantech, Digital Media, ICT, FinTech & InsurTech, Life Sciences, Manufacturing, Medical Devices, Nanotechnology, Oil & Gas, AgriTech, Cybersecurity amongst others.
The key objective of istarthub Bereskin & Parr is to provide a broad spectrum of valuation building resources to participating startups throughout the 12-month duration of the acceleration program. Resources include access to growth capital, support on sales channel development and access to intellectual property strategies. The Intellectual Property Module, hosted by Bereskin & Parr, offers technology and branding focused intellectual property guidance to the participants. Initiation Funding, starting at US$60,000, will also be offered, subject to acceptance of terms and completion of due diligence. Participating startups’ revenue ramp-up will be supported by introductions to direct corporate clients and channel partners globally.
One of the program participants is AssetFlo, a startup that combines wireless sensors with accurate location technology to make the tracking of assets accurate and simple. AssetFlo is targeting industries such as dealership parking & inventory optimization, forklift utilization & material handling, warehouse, indoor asset tracking and logistics. The company was also one of the three Canadian startups that was accepted & funded by Geotab’s Torque Labs Accelerator program in July 2019.
Elie Makhoul, CEO AssetFlo, shared his experience as a program participant, “Earlier in May 2020, we were offered to join the istarthub Bereskin & Parr program after extensive due diligence and assessment on alignment with the program attributes. In a very short time, we were able to accelerate our funding and IP strategy with unexpected velocity. It’s unbelievable the value you receive from working with such a program. istarthub is very selective as far connecting you with the right investor or customer. The engagement goes beyond the connection and provides guidance throughout the different steps of the process and helps you stay on top of all engagements. Equally impressive is the level of support we’re getting from the Bereskin & Parr team on the IP strategy. We’ve moved quickly from ideas to well validated and novel concepts under a growing IP portfolio. This turns out to be critical and timely to our funding process from investors perspective on our ability to protect and properly monetize our technology.”
Ashwin Sanzgiri, Program Director, istarthub, provided a perspective on how young startups, like AssetFlo, can take advantage to expedite growth through the program, “Intellectual Property is a key asset for startups and the istarthub Bereskin & Parr accelerator aims to leverage such assets to expedite the growth trajectory. The program brings together arguably the best minds in the Canadian intellectual property industry, along with high quality startup acceleration resources, to maximize value creation for participating startups. In the post COVID-19 world, we expect early-stage investors to channel their resources on startups with protectable and monetizable assets, like AssetFlo. We’re already seeing an increasing emphasis by early-stage investors on post-investment acceleration plans, an approach that istarthub accelerators have been committed to since the beginning.” Ashwin also leads the operations of the istarthub Ontario and istarthub R&D Capital accelerators launched in 2019.
According to Stephen Beney, Bereskin & Parr’s Managing Partner, “An intellectual property (IP) strategy is critical to the success of a startup business. As a startup, one challenge is convincing others that there is something tangible to your idea. Innovations at early stage companies can often face a higher level of scrutiny. Forward planning is key. The more successful startups and scaleups devote resources to understanding their IP options early, while their business plans are still evolving. At Bereskin & Parr, we help innovators and owners make smart choices when it comes to reviewing their innovations, so that investments in IP align with company goals. We assist early stage entrepreneurs develop an IP strategy that’s right for them now and flexible enough to adapt to future opportunities. We look forward to working with AssetFlo, and other istarthub clients, to help them optimize their IP potential.”
Interested Canadian startups can apply here or send a non-confidential pitch deck to email@example.com
About Bereskin & Parr LLP
Bereskin & Parr is a highly regarded IP boutique firm and is widely recognized as a well-rounded team with coveted expertise in trademark portfolio management, patent prosecution and IP litigation.
istarthub acceleration programs provide expedited growth support for high potential startups by providing access to valuation building resources. istarthub acceleration programs operate across markets and are also focused on industry-specific themes.