FOR STUDENTS OR RECENT GRADS WITH BIG DREAMS AND AN ENTREPRENEURIAL MINDSET
Every year, we select 36 of the most entrepreneurial undergrads and recent grads from coast-to-coast who we believe have what it takes to build Canada’s next narwal.
Whether you have a pre-existing early stage startup that you want to take to the next level, or you have an idea that you want to turn into a reality, Next 36 can help.
Will you be one of the Next 36?
Applications for the next cohort open: August 2020
BEING A FOUNDER IS HARD.
During times like these, founders need support more than ever. At NEXT Canada, there are over 1000 business leaders, investors, faculty and alumni that our entrepreneurs can call upon in times of need. At NEXT it is our mission to support our community of entrepreneurs in any way we can. As such we are putting precautions in place to both protect our community and continue to deliver on our mission albeit remotely.
WHAT YOU'LL GAIN
WORLD CLASS CURRICULUM
Learn how to build, launch and scale from successful entrepreneurs and award winning faculty.
Join a community of 500+ alumni and gain access to coaching, resources and big impact ventures.
Earn up to $50,000 in seed capital for your venture.
Get the chance to be paired with a mentor who has successfully launched a venture and have them guide the way.
Get the chance to work out of NEXT’s 7,500 sq. ft. HQ in downtown Toronto.
IN-KIND PRODUCTS AND SERVICES
Get the services your venture needs from our partners including cloud hosting, legal support and more.
WHAT YOU'LL LEARN
Next 36 focuses on the growth of you, the founder, teaching you the core skills and strategies necessary for building a business. From how to compete with established competitors to how to read a term sheet and beyond, we’ve got you covered. Learn from successful entrepreneurs, business leaders and world-class faculty including:
Lilia is making it easy for women who are curious about their fertility to get information about their body and their options so they can make life plans more confidently.
“Had it not been for NEXT, my ambitions would have been to build a well-run, profitable, Canadian-focused company. Instead, I am venturing to build a fertility service empire that will completely change the way we think of fertility and family planning.”
– Alyssa Atkins, Founder and CEO, Lilia (Next 36, 2013)
WHO WE'RE LOOKING FOR
YOU’RE A DREAMER, BUILDER, DISRUPTER: AN ENTREPRENEUR.
Next 36 accepts undergrads, masters students and recent grads from schools across Canada, from any academic discipline. Whether you have an early stage venture, or you’re looking to start something brand new, Next 36 can help.
We’re looking for:
Have questions? Contact us to learn more!
2020 PROGRAM TIMELINE
FREQUENTLY ASKED QUESTIONS
At NEXT, it is our mission to support our community of entrepreneurs in any way we can. As such, we are putting precautions in place to both protect our community, and continue to deliver on our mission, albeit remotely in the near-term. Read more about our policies and protocols here.
How will the program be delivered?
This program consists of a remote period from December to late April and a Toronto segment traditionally delivered in person in Toronto starting in early May. However, in light of concerns re: COVID-19, we are exploring digital and virtual delivery methods to protect the safety of our entrepreneurs, staff and community. All in-person programming and events have been postponed until future notice. Read more about our policies and protocols here.
Eligibility and Application
However, if you are an international student looking to apply for Permanent Residence after university, we’ll accept a notarized statement to this effect. If you plan on providing a notarized statement, please contact us before starting your application.
Can Next 36 help me with my Start Up Visa?
No, at this time Next 36 does not support international applicants.
I am a Canadian student enrolled in an undergraduate program outside Canada. Can I apply?
Yes! Canadian citizens who are enrolled at international institutions can apply as long as you’re able to commit to attending the full summer program from early May to mid-August.
What grades do I need to get into the program?
There is no minimum GPA requirement. You’ll be asked for your GPA as part of the application, but it’s just one data point among many that we look at when reviewing your application.
Can I take other classes or be employed during the summer?
No, during the summer Entrepreneurship Institute (May – August) you have to be fully committed to the program. No other classes, jobs or side hustles.
Exceptions are only granted in extreme circumstances.
What kind of applicants are you looking for?
Next 36 is looking for students who have an entrepreneurial track record.
Show us that you’ve built something. Whether you’ve gone to hackathons, spearheaded a student club, started a company, or launched a social enterprise – we want to know about it. Tell us how you’ve identified opportunities, done something better or differently, and taken action to do something about it (even if that something failed spectacularly).
Can I apply with an existing venture?
Yep! You can apply with an existing early-stage venture. Typically, this venture may have small amounts of funding through grants, university programs or competitions but hasn’t taken any significant private investment.
Just remember, the application is an individual one so be sure all of your (eligible) co-founders also apply. Only the co-founders who are successful at National Selection Weekend will officially be admitted into the Next 36 as “Lead Founders”.
What if I get into the program but my co-founders don’t?
There will be a second intake in February where we’ll open up applications for the Lead Founders’ co-founders who can apply or re-apply to get in to the program.
If they aren’t accepted during the second intake they will be considered “external co-founders”, and will have limited access to the program. Space permitting, external co-founders might have the opportunity to attend classes/workshops, may work out of the hot desk space, and can attend larger external events throughout the summer.
What if the venture already has equity investors?
Ventures that have existing equity investors aren’t eligible for Next 36 and should consider Next Founders. If you already have a venture with some traction, that’s the program for you. Learn more at www.nextfounders.ca.
There is no tuition charged to participate in Next 36. Generous donations from individuals and foundations who support the organization cover the $30,000 cost per entrepreneur.
Entrepreneurs will only be expected to cover their summer living expenses including food and accommodations, as well as their travel to Toronto for the summer portion of the program.
Do I pay for my trip to National Selection Weekend?
Nope! Finalists’ meals and accommodation for National Selection Weekend are covered by NEXT Canada. Travel expenses (flight, train, bus) will be covered for those travelling from outside the Toronto – KW corridor.
Is there any financial assistance available?
Yes, Next 36 offers bursaries to candidates who require financial assistance covering the costs associated with living in Toronto for the summer Entrepreneurship Institute. Please contact us to learn more about financial assistance.
Venture Funding and IP
You do. Upon incorporating, all ventures take ownership of the IP created by their venture. Full details on IP ownership is provided to the entrepreneur in their participation agreement.
Where does funding for the program come from?
NEXT Canada is a non-profit charity and funding for the operational costs of the program has been donated by a committed group of entrepreneurs, business leaders and partners who recognize the value of developing entrepreneurial talent in the next generation of Canadians.
Equity funding for the ventures is provided through a fund backed by leading venture capital firms and entrepreneurs.
How is my venture funded?
Next 36 ventures may be provided with up to $50K in seed capital over the course of the program.
There will be several funding windows throughout the program. The amount of funding available increases at each window while the number of ventures receiving funding will decrease. As is the case in venture capital, stronger teams will receive more funding.
How much of the venture’s equity will I own?
Founders will own approximately 95.3% of their venture, split amongst the co-founders. Equity does not need to be split evenly, although anyone considered a co-founder must have a reasonable stake.
The other approximate 4% is owned by NEXT Canada, which is the non-profit charity that delivers the Next 36 program.
The Young Founders Fund, the equity investor supporting all Next 36 ventures, can provide up to $50K in equity funding during the program to purchase up to 6% equity in the business. You are not required to accept any investment if you’d like to retain your equity.
Who are the equity investors in the Next 36?
The investor group that makes up the Young Founders Fund includes leading Canadian VCs such as BDC Capital, Globalive Capital Inc. as well as a number of successful Canadian business entrepreneurs.
What if my venture has an existing shareholders agreement?
It’s highly recommended that ventures incorporate after being accepted into the program. Where this isn’t possible, all co-founder teams must agree to be governed by the Next 36 shareholder agreements. The venture must own all of their intellectual property.