Investor Alert

July 13, 2020, 9:00 a.m. EDT

Intuit Canada launches accelerator with Highline Beta to power future-forward financial prosperity for Canadians

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TORONTO, Jul 13, 2020 (Canada NewsWire via COMTEX) -- Intuit Canada is partnering with Highline Beta to launch the Intuit Prosperity Accelerator, where a cohort of global tech startups will help solve financial prosperity challenges that Canadian consumers, self-employed and small businesses will be facing in the wake of COVID-19.

Intuit Canada, a leading global financial platform company known for products such as TurboTax, QuickBooks and Mint, and Highline Beta, a venture studio and venture capital firm, today announced the launch of the Intuit Prosperity Accelerator. This program aims to solve very specific problems that will help enable the future financial health of consumers and small businesses across Canada.

Since the onset of COVID-19, half (49%) of Canadians report that they are $200 or less away each month from insolvency, according to the latest MNP Consumer Debt Index. CFIB reports that 48% of small businesses are making half or less their normal sales, with 50% stating they are most concerned about their business cash flow. These are just a few of the problems this accelerator will be looking to help solve.

Successful applicants to this accelerator will pilot solutions that: 1) help Canadian consumers eliminate debt, build savings and enable financial literacy; and/or 2) help Canadian self-employed and small businesses improve cash flow, get customers, and access help.

"Collaboration between corporations and across the global startup ecosystem will be critical to moving with even greater urgency in this fast-changing landscape," said David Marquis, Country Manager at Intuit Canada. "Many of these challenges are global, and I believe that if we broaden our views, expand our networks, and learn from each other, this time of crisis will bring innovative solutions that will help solve financial prosperity challenges for Canadians."

"Consumers and small businesses in particular are going to be under significant pressure post-COVID-19. We're very eager to find startups whose products can help make a difference during this difficult time," says Benjamin Yoskovitz, Founding Partner at Highline Beta. "By focusing on finding the most effective solutions and executing pilots quickly, we can deliver impact where it matters most."

Selected startups in the Intuit Prosperity Accelerator will benefit from four months of virtual programming, where they will have access to a mentorship network, $20,000 towards pilot execution, and the opportunity for follow-on investment from Highline Beta. The program will accept global applications from high-potential seed-stage tech startups with products in market, but is open to the possibility of pre-seed or later stage. The Intuit Prosperity Accelerator is now accepting applications until September 4th.

For more information on eligibility requirements and to apply, visit: http://www.intuit.com/ca/prosperity-accelerator .

About Intuit Intuit's mission is to Power Prosperity Around the World. We are a global financial platform company with products including TurboTax , QuickBooks , Mint , and Turbo , designed to empower consumers, self-employed, and small businesses to improve their financial lives. Our platform and products help customers get more money with the least amount of work while giving them complete confidence in their actions and decisions. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide. Please visit us for the latest news and in-depth information about Intuit and its brands and find us on social.

About Highline Beta Highline Beta is a venture studio and venture capital firm helping Fortune 1000s 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. Learn more at Highline Beta.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2020/13/c1221.html


        Contacts: Elena Yunusov, Highline Beta, elena.yunusov@highlinebeta.com, 416-817-6296;
        Sana Mehkri, Edelman Canada (for Intuit), sana.mehkri@edelman.com, 416-524-5456


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