World Trade Centre Toronto, in partnership with the Ottawa Board of Trade, is launching its fifth year of the Trade Accelerator Program (“TAP”) for 2021 applicants who are focused on technological innovation. TAP will launch its tech-cohort accelerator on February 10, and is open to companies across Ontario. The program will offer companies networking opportunities and learning experiences regarding topics such as exporting and growth acceleration.
Eligible companies may be pre-revenue, but will need to demonstrate funding of at least $2 million, sales from $250,000-500,000, and evidence that the company has taken exploratory steps to develop business abroad or that they are already exporting such steps. Full eligibility criteria can be found on the World Trade Centre Toronto website.
TAP participants engage in weekly virtual sessions over a five week period. Companies are also provided with formal mentorship opportunities through half-day weekly virtual mentorship sessions. Over its five-year span, TAP claims that 71% of graduates are now actively exporting to international markets, 33% of graduates experienced average growth in export revenue, and 21% of graduates experienced growth in total revenue after just one year. The program further states that 90% of graduates felt they were better prepared to tackle the global markets after participating in TAP.
TAP also offers other programs to companies based on their specific industries or geographical locations.
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