Bootup Labs

Below are a selection of frequently asked questions. If you've read our about page and checked out the answers here and still have questions, please do contact us.

Do we have to move to Vancouver?

Yes - but only until after the program ends.  We think you'll fall in love with the city, like we did, and stay, but you don't have to.

What if I don't need the full 8 months?

You can leave Bootup Labs whenever you want.  8 Months is the maximum time you need to spend with us. 

We already have offices in Vancouver. Do we have to move in with Bootup Labs?

Yes - We feel that our risk in investing in you is greatly reduced when you spend time in our offices, talk with mentors, and focus on building a product that customers want.

Do you accept applications from founders outside of Canada?

Yes. And, we think Canada has some unique advantages when it comes to building digital media startups.

Are the terms of your deal standard for all companies?

Yes - We help launch up to 12 companies per year.  We simply can't negotiate every deal.  That said, each company has unique circumstances which will be considered on a case-by-case basis

Will you sign a non-disclosure agreement (NDA)?

No. We're a seed fund (basically a mini venture capitalist) and see thousands of ideas a year. We like to reference a series of posts that Mark Peter Davis has made with more details: Why VCs Do Not Sign NDAs, Share Information or Don't Bother Calling, and The Benefits of Sharing Your Idea.

Do I need to work on my startup full time?

Yes. It may be that some members of an extended team continue in their day jobs, but we expect the main founders to spend their time building their company. If you're not ready to quit your day job, you're not ready to join us yet.

Does my company need to be incorporated in order to apply?

No. If you don't have an incorporated company, we can work with you to prepare the necessary documents if you're accepted. We'd rather have your company structured correctly, rather than waste time restructuring it.

I don't understand the Bootup Labs model of investment.

We have a cap table document on our templates page that is useful in exploring founder's equity, the Bootup Labs investment, and your Series A financing. Or perhaps you mean the structure of our seed fund and management company.