Canopy | FAQ
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FAQ

Frequently Asked Questions

What kind of companies do you fund?

We fund companies with amazing teams, first and foremost, with high potential for growth. This usually means they are ancillary products and services companies somehow involved with cannabis, but we are willing to look at each company case by case. We make sure that we are able to help the company reach the next level, and that is the main thing that would stop us from investing in certain ideas.

How long is the CanopyBoulder Accelerator program?

The program runs for 16 weeks. The first 12 weeks are highly structured while the last four weeks are lightly structured and focused on fundraising.

How much funding do you offer?

We invest up to $80,000 per team, we provide up to $30,000 in initial seed investment and a competitive $50,000 follow-on investment to the top three companies midway through the program. Our goal is to give you the opportunity to work on your startup without distractions, such as paying for rent and food, and get you to the point where you are ready to get further funding.

Can I work while my team is in the program?

No. Part of the reason we offer the $30,000 seed investment is so you and your team can be completely focused on building your company without worrying for paying for food, housing etc. Our main goal is for our companies to succeed, and we believe that the resources, community and mentors are a big driver to helping them do so. Therefore, we do not accept teams that are unable to focus on their startup full time.

We’ve already been working on our startup for a while, is the CanopyBoulder Accelerator for us?

Our goal is to help take you to the next level in your startup. If you are further along we can definitely help boost you even further. We accept startups at all stages (pre-venture funding) and welcome the diversity.

What does CanopyBoulder Accelerator get out of this?

In return for the seed investment, services, and perks, CanopyBoulder gets between 6-9.5% ownership in each company.

We’ve already taken some funding, can we still apply?

Definitely. Assuming you are pre-series A, we probably can help you.

We don’t need the money, does it make sense for us to apply?

The money is only a small part of what the CanopyBoulder Accelerator does. We offer the money so those who do need it can cover their living expenses while the CanopyBoulder Accelerator is happening.

What if I am building a physical product or an expensive idea?

Yes. Physical products present a different set of challenges but the Canopy mentor network provides a strong support network for product developers and our investor network is receptive to product-focused investments.

How many companies do you accept each session?

It completely depends. We may take anywhere from 8 to 10 team depending on the strength of the applicants and if we feel we can help them.

Do we need to write a business plan?

No. We want to see a short pitch deck/plan that shows the basics of your idea, your founding team, and the vision for the next few years. Show us why and how you can grow this idea into a multi-million dollar business. Team – Vision – Product/Service.

Can we be part of the program without moving to the Boulder area?

No. We require teams to relocate for the duration of the program to Boulder.

Our team has two ideas, can we submit them both?

No. We ask that each team submit one idea. We need to see focus from the founding team on an idea or set of related ideas.

Will you sign an NDA? How can I know you won’t steal my idea?

No, we do not sign NDAs. No venture firm would at this stage.
We hear so many ideas on a daily basis that it would be impossible to keep who said what in order. We are in the business of helping entrepreneurs, so our reputation is the incentive we have to try our best to protect the ideas you share with us.

Are you hiring?

If we aren’t, it’s likely one of our current companies, or one of our alumni companies is hiring. Note: Boulder currently has a very low unemployment rate! Send us your resume and we will see if we can help out.

Who is the team behind the program?

The Leadership is a group of entrepreneurs and investors from a wide range of industries.

Do I have to stay in Boulder after the program ends?

Not at all, you may go wherever you find will be most beneficial to your company. However, part of our being here is we believe this is a great place for startups and for their teams.

Why does CanopyBoulder want stock in each company?

As an entrepreneur your goal is to see your company succeed, and by having ownership in your company, we make sure that our goals are aligned. This also ensures that our relationship does not end when the accelerator program finishes.

Can you get us a Visa?

No. We can connect you to our mentor network who would be happy to give you advice and connect you to one of the immigration lawyers in the network.