Canadian Manufacturing

Intuit Canada launches accelerator with Highline Beta to encourage financial prosperity for Canadians

The Intuit Prosperity Accelerator is now accepting applications until September

July 13, 2020  by CM Staff

PHOTO: Highline BETA

TORONTO — Intuit Canada, a Mississauga-based global financial platform provider, announced the launch of the Intuit Prosperity Accelerator. This program aims to solve specific problems that will help the financial health of consumers and small businesses across Canada.

Since the onset of COVID-19, half (49%) of Canadians report that they are $200 or less away each month from insolvency, according to the latest MNP Consumer Debt Index. The Canadian Federation Of Independent Business (CFIB) reports that 48% of small businesses are making half or less their normal sales, with 50% stating they are most concerned about their business cash flow.

According to a company statement, applicants to the accelerator will pilot solutions that: 1) help Canadian consumers eliminate debt, build savings and enable financial literacy; and/or 2) help Canadian self-employed and small businesses improve cash flow, get customers, and access help.

“Collaboration between corporations and across the global startup ecosystem will be critical to moving with even greater urgency in this fast-changing landscape,” said David Marquis, country manager at Intuit Canada, in a prepared statement. “Many of these challenges are global, and I believe that if we broaden our views, expand our networks, and learn from each other, this time of crisis will bring innovative solutions that will help solve financial prosperity challenges for Canadians.”

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Selected startups in the Intuit Prosperity Accelerator will receive four months of virtual programming, have access to a mentorship network, $20,000 towards pilot execution, and the opportunity for follow-on investment from Highline Beta, a venture capital company.

“Consumers and small businesses, in particular, are going to be under significant pressure post-COVID-19. We’re very eager to find startups whose products can help make a difference during this difficult time,” said Benjamin Yoskovitz, founding partner at Highline Beta, in a statement. “By focusing on finding the most effective solutions and executing pilots quickly, we can deliver impact where it matters most.”

The program will accept global applications from seed-stage tech startups with products in market, but is open to the possibility of pre-seed or later stage. The Intuit Prosperity Accelerator is now accepting applications until Sept. 4.


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