The number of Canadians who are anxious about their financial situation has more than doubled from 19% before COVID-19 to 46%1. These money worries were identified as the largest source of stress. Example solutions:
COVID-19 has upended financial health with half (49%) of Canadians reporting that they are $200 or less away each month from insolvency2. Example solutions:
40% of Canadians are ready to start thinking more proactively about their finances3, yet 57% of them fail a basic financial literacy test4 and only 1-in-3 actively use a financial advisor5. Example solutions:
Since the inception of COVID-19, 48% of small businesses are making half or less their normal sales6. When asked what worries them the most during COVID-19, 50% said business cash flow (getting paid, meeting payroll, paying rent/bills)7. Example solutions:
52% of small business owners cited a decrease in customer demand for products and services8, and 37% are worried that consumer spending will be reduced, even following the COVID-19 crisis9. Example solutions:
Asking for help is an inherent part of being a successful small business owner. During these challenging times, it’s important to seek reliable advice and support. Example solutions:
Intuit is a mission-driven, global financial platform company that gives everyone the opportunity to prosper. We serve consumers, small businesses and the self-employed and work with a range of partners to solve our customers’ most pressing problems. Our products, including TurboTax, QuickBooks and Mint, help our customers around the world make more money, with the least amount of work, while having complete confidence in their actions and decisions.
Highline Beta is a venture studio and venture capital firm helping big companies grow outside of their core through organic venture development and inorganic startup partnerships. Highline Beta is Intuit’s partner in the Intuit Prosperity Accelerator. Highline Beta designs, executes and oversees the program, as well as advises on the selection of startups to participate.
We are primarily looking for companies that are making an immediate impact on small businesses and consumers’ most pressing challenges post-COVID-19. Our focus will be on seed stage tech startups with a product in market, but we are open to all stages (including pre-seed / ideation). We will put an emphasis on startups ready to pilot their technology during the program.
Startups will be selected across a number of criteria, including:
1) Fit with one or more of the challenges
2) Stage of startup (seed stage preferred with product in market, but open to pre-seed or later stages)
3) Product traction
4) Potential for integration with Intuit products
5) Potential for scale in the Canadian market
If you believe your solution can help small businesses, self-employed and/or consumers, and you believe that the relationship with Intuit and Intuit’s products can be beneficial, you are welcome to apply. Having said that, we will be emphasizing startups that can solve one or more of the challenges.
No, the program is open to startups anywhere, but our focus is on solving problems for Canadians. Any international startups would either need to have a presence in Canada or be willing to put effort into entering the Canadian market.
You don’t have to be a QuickBooks customer to apply. However, partners who have used QuickBooks are able to build stronger and meaningful integrations. We strongly encourage startups to explore the QuickBooks platform before considering an integration opportunity. You can explore our APIs here at developer.intuit.com
The program starts at the beginning of September and runs until mid-December, 2020. There will be a Demo Day event at some point in 2021, but the date has not yet been finalized. The program will be run virtually as long as social distancing protocols are in effect.
The selection committee will be carefully reviewing each application. If there is an initial fit at that stage, you will be invited to arrange a video call with the selection team to get to know you and your company better. Applicants will be notified of selection no later than two weeks before the program starts.