Driving global impact through venture creation
The HATCH Venture Builder is a collaborative initiative between entrepreneurship@UBC and the Institute for Computing Information and Cognitive Systems (ICICS). It supports the thriving community of interdisciplinary UBC innovators who are building ventures driving social, environmental and economic impact to solve some of the world’s most pressing problems. Together, both organizations have created a place where entrepreneurs with the drive to shape a better world receive the guidance and resources to achieve their greatest potential.
The HATCH Venture Builder is made possible in partnership with the Institute for Computing, Information and Cognitive Systems (ICICS).
The HATCH Venture Builder (formerly the HATCH Accelerator) supports teams with dedicated EiR and advisory teams, regular quarterly check-ins, continued foundational and operational venture-building programming, office space and access to shared wet lab space or makerspace. HATCH ventures spend as little as twelve months or as many as 18 months working towards a transformative commercial goal such as (but not limited to) closing a Seed or Series A investment, completing a major commercial partnership(s), achieving repeatable sales, or completing an asset or company acquisition transaction. HATCH ventures have the opportunity to raise brand awareness, build an investor network and access capital raising opportunities through our Fall Venture Showcase, our Spring Investor Showcase, and many other networking, pitching and thought leadership events.
entrepreneurship@UBC and ICICS are able to provide venture teams with the space, resources, and expertise needed to take a business to the next level, whether that’s building a relationship with a first customer or securing a first major investor. Among the physical facilities venture builders will have access to, ICICS provides an environment where early-stage companies can technically de-risk their innovation in a world class makerspace, build their first teams with collaborative office spaces, access technical interns and an alumni network.
entrepreneurship@UBC's bench of industry expertise, workshops, business interns, investor networks and a range of other resources are designed to support innovations with strong commercial potential. In addition to the office and makerspace within ICICS, ventures in the HATCH Venture Builder stage with entrepreneurship@UBC also have access to office space at UBC Robson Square and hot-desking at the Graham Lee Innovation Centre.
Following on from Venture Founder, preference is given to teams who meet the following criteria:
- A minimum of two committed team members, whereby at least one member of the team is full-time, and a plan for the second team member to transition to full-time at an agreed upon milestone
- Team is driving velocity, demonstrating they are self-determined, and all members are accountable and able to show progress on business milestones
- Venture is incorporated, has retained legal counsel and any appropriate insurance, as well as the beginnings of an advisory board
- Product concept is fully developed and has a proof-of-concept in a simulated environment
- TRL Level 6, a model or prototype. See TRL definitions here to estimate the level of development of your innovation
- If a patentable invention, clarity on Freedom to Operate or path to protection has been established
- Clearly defined product-market fit and problem definition validated with customer archetypes
- Determined whether or not business model is predicated on product sales or partnering
- Developed sustainable business and financial model
- Operating run-way and plan for growth trajectory
- Team has a vision for their venture's scalable strategy or "exit"
At least one member of the team must be a UBC student, faculty member or staff member, or a recent UBC alumni (within 5 years of graduation).