Business
Intuit’s Third Annual Prosperity Accelerator Aims to Spur Growth for Greater Toronto Area Fintechs
Calls for submissions open for the program designed to advance financial prosperity of Canadians by accelerating growth, impact, and fundability of Toronto
About this update from Intuit Inc.
[{"type":"text","content":"\nCalls for submissions open for the program designed to advance financial prosperity of Canadians by accelerating growth, impact, and fundability of Toronto area startups\n\n TORONTO--(BUSINESS WIRE)--\nIntuit (NASDAQ: INTU), the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced today the launch of its third annual Intuit Prosperity Accelerator in collaboration with Highline Beta, a globally recognized accelerator builder-operator and venture capital firm focused on corporate innovation.\n\nThe Intuit Prosperity Accelerator: Toronto, powered by Highline Beta, is an equity-free, challenge-based program focused on advancing financial prosperity. The four-month program is designed to accelerate the growth, impact, and fundability of high-potential Greater Toronto Area (GTA) tech startups whose mission is to improve the financial prosperity of Canadian consumers and small businesses. Selected startups will have access to a corporate and investor mentorship network, dedicated coaching, and the opportunity for follow-on investment from Highline Beta.\n\n“Many businesses are facing economic challenges that have a direct impact on their ability to innovate and develop solutions for the future,” said David Marquis, vice president and Canada country manager at Intuit. “We want to share our resources and innovation methods with startups that are close to breakthroughs, are preparing for their next round of funding, or require technology resources to take their business to the next level. Given the challenging landscape for tech startups in Canada, our support can have a huge impact on a growing startup’s future, now more than ever.”\n\nToday’s tech startups are facing uncertainty due to the possibility of a recession, high inflation, and an ongoing labour shortage. Further, startup funding in Canada for financial technology companies in the second quarter of 2022 saw a dramatic 70% drop compared to the previous year, highlighting the need for startup accelerator programs such as the Intuit Prosperity Accelerator.\n\nOver the past two years, Intuit has worked with 15 startup participants in its Prosperity Accelerator program to help overcome such challenges by running design experiments, validating use cases, and helping position them to raise over $24 million CAD.\n\n“We are very ...