Canadian technology accelerator (CTA) overview 2013

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The Canadian Trade Commissioner Service manages the Canadian Technology Accelerators (CTA) in New York, San Francisco & Silicon Valley, Boston, and Philadelphia, global clusters for technology and entrepreneurship. This initiative provides those Canadian start-ups in information and communication technology, digital and social media, gaming, clean technologies, and life sciences with access to unique resources and contacts that foster their international growth.

The CTAs make available free office space for three to six months where physical offices are located within existing business incubators. The CTAs help you to refine your business model, collect competitive intelligence, pursue key clients, access financing sources, and engage strategic partners.

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  • The TCS has a vast resource network Over 1,000 employees work in our Trade Offices abroad, from which ~1/3 are Canada-based staff ~2/3 are are locally engaged staffs, who provide extensive knowledge of local markets, legislation and the business environment. Over 1,000 employees in Canada, including over 100 in the regional offices and the rest in Ottawa.
  • TB
  • We had over 13,000 clients in 2011 75% of our clients are small and medium-sized companies. Two thirds of our clients have consulted more than one of our offices abroad. About 80% are satisfied with the services they have received. (Source: 2011TCS client survey) 1. New or experienced . . .Before we deliver services, we need to know that the Canadian company is prepared and committed to the market and will be able to deliver products or services. 2. The request could come from any number of different firms. The main concern is that the TCS service provided will lead to economic benefit and prosperity for Canada. 3. The request could be from a consultant or student, but they must have a mandate from the Canadian company they are representing.
  • This is the TCS value proposition, and it comes at no financial cost to our clients (Canadian Tax dollars at work) Our success is your success -- we want to understand your international objectives and help you achieve them. We will do what it takes to deliver these services
  • Notes: Information obtained from United States Patent and Trademark Office. California accounts for 23% of total patents granted in the US in 2004.
  • Canadian technology accelerator (CTA) overview 2013

    1. 1. Canadian Technology Accelerator
    2. 2. The Canadian Trade Commissioner Service (TCS) Canada’s most comprehensive network of international trade professionals Located in: more than 150 cities worldwide, and 10 offices across Canada
    3. 3. Our U.S. Consulate Network
    4. 4. The TCS promotes Canada’s economic interests in the global marketplace Our Clients: are primarily small and medium companies; are established in Canada; Seeking to do business abroad; and have researched their market(s) We help clients: •Export •Invest abroad •Seek technology and capital •Develop R&D partnerships
    5. 5. Delivering value to businesses We help companies grow globally and lower costs of doing business through four key services: Preparation for Preparation for International Markets International Markets Market Potential Market Potential Assessment Assessment Qualified Contacts Qualified Contacts Problem Solving Problem Solving
    6. 6. Canada Assets & Challenges • Strong research/engineering capacity and talents • Good government incentives and programs • Internationally oriented businesses • Weak innovation commercialization and global growth track record • Limited pool of experienced entrepreneurs and mentors • Limited risk capital: o Some areas have early stage/seed money (non dilutive cap fed programs, new provincial programs) o Little growth financing for technology-based businesses
    7. 7. • Our Goal: Growing Canadian SMEs and Startups Accelerate Start Up Growth (or Failure)…and beyond (reaching mainstream customers) • Give access to supply chains of global industry leaders (Fortune 500) • Catalyze emerging sectors and market trends for Canadian industry …but where in the US?
    8. 8. Key Local Success Factors • • • • Strong local culture of world-class innovation which allows Canadian firms to benchmark their technology against global standards Presence of engaged corporate tech scouts looking to identify trend-setting technologies and incorporate them into their global value chains Concentration of Venture capital/ Financing A large community of experienced and successful entrepreneurs willing to give time to act as coaches and mentors for CTA participants – Ideally Canadian Expats “It is repeatedly the most valuable component to the ultimate success of the Canadian startups that participate in CTAs”
    9. 9. Scientific and Engineering Powerhouses All R&D Rank 1 2 3 4 5 6 7 State California New Jersey Texas Massachusetts Washington Maryland New York a R&D intensity (R&D/GDP ratio) $millions 81,323 20,713 20,316 20,090 16,696 16,605 16,486 State (%) New Mexico District of Columbia Maryland Massachusetts Connecticut Washington New Jersey 7.58 6.15 5.92 5.53 5.1 4.96 4.28 $billions 78 96.8 280.5 363.1 222.2 336.3 484.3 World top academic and tech transfer institutions in these markets *Canada’s GERD in 2008=US$27,8 Billion
    10. 10. THE INNOVATION FACTORY… TOP PATENTING U.S. STATES Calendar Year 2011 NUMBER OF UTILITY PATENTS GRANTED STATE 28,148 CALIFORNIA 8,847 NEW ENGLAND (MA - 5,191) 7,584 TEXAS 6,956 NEW YORK 3852 NEW JERSEY Total Patents Granted of U.S. origin: 108,626 Total Patents Granted of Canadian origin: 5,754 Source: US Patent Office
    11. 11. Venture Capital: Show me the money! Source: PWC Money Tree
    12. 12. Fortune 500 2012 List – Top US Corporate HQs concentration New York: 50 Companies California: 53 Companies New England: 27 Companies New Jersey: 21 Companies + numerous American HQs of other global companies
    13. 13. Canadian Executive Associations or other Canada Friendly Groups
    14. 14. CANADIAN TECHNOLOGY ACCELERATOR Canadian Start-ups on Steroids Longer Engagement in Market: Short Intense Exposure •CTA@Plug and Play •CTA@Rocketspace •CTA@MissionBay •CTA@NYC •CTA@Boston •CTA@Cleantech •CTA@HealthIT Qualification Mentoring/Access IN CANADA PARTNERSHIPS KEY US TECHNOLOGY HUBS GROWTH
    15. 15. In Canada Qualification Referrals: On-going referrals by trustable partners, e.g., NRC’s IRAP, DFATD Regional Offices, BDC, ACOA, selected provincial partners, national or regional startup competitions In-Canada accelerator program: GrowLab; FounderFuel, Propel ICT, Volta, Xtreme, Jolt, Hyperdrive Participants in Consulates strategic initiatives/missions Selection: -On a competitive basis -Call for Applications -Local expert selection committees & TCS Consulate team
    16. 16. WHO QUALIFIES? • Startups (90%) • Have a differentiated technology for a sizeable market, a credible team in place, ideally have first users/customers and have already received some funding • Need to launch product globally, acquire strategic partners, secure financing, and gain entrepreneurial inspiration and business models. • Established SMEs (10%) • • Have an established product line, are in business for several years but need to expand faster and build a global company Need to access large US and global corporate partners/clients, develop new channels, adapt their business model. Differentiated Technology / Market Traction / Potential to scale
    17. 17. Key Success Factors for CTA participants • • • • • Have worked with in-Canada partners A clear expression of the company value proposition and growth objective A preliminary sense of specific contacts they should meet and why A good understanding of the various growth financing mechanism A short pitch deck that they have delivered before
    18. 18. • “Short exposure” programs are developed in Silicon Valley, New York, Philadelphia, and Boston • Groups of 20-25 Selected Canadian companies travels to Silicon Valley, Boston, NYC, Philadelphia • Mentoring sessions with local mentor groups • Meetings with corporate players/ investors/ networking • Also specialized missions: TechWomen, Health IT, etc. • Steep competition: routinely between 80 and 200 vetted applications are received
    19. 19. The Silicon Valley •Trend setting region •Entrepreneurial culture •Leading Venture Capital centre •Strong university and R&D •Thinks BIG !!
    20. 20. Canadian Technology Accelerator@PlugandPlay Connecting Canadian companies to Silicon Valley • Six offices • Free space for up to 4 months • Access to TCS/Consulate, PnP, and C100 connection services After 4 ½ years: •More than110 companies supported •Results: increased sales, new jobs in Canada, funding events, strategic partnerships
    21. 21. Canadian Technology Accelerator@RocketSpace      Connecting Canadian companies with San Francisco •SF social scene •C100 mentoring (C100 •Open desks concept     Opened Spring 2011 Heart of SOMA district Eight seats + one office Focus on Digital media and gaming • More than 35 companies • • • HQs)
    22. 22. Canadian Technology Accelerator @ Mission Bay • • • • • • • • Launched in March 2012 Life-Sciences focussed for up to six months 4 companies at a time Access to industry leaders and advisors Participation in matchmaking, entrepreneur development programs and investor events Access to lab facilities A dozen participants to date actively developing business!
    23. 23. CTA Success Stories “The CTA@SF program literally changed the trajectory of our company. We went from a small business with modest exit options to raising a significant round of financing from prominent US and Canadian investors and signing a huge partnership. Since establishing our presence in SF, we've now set our sights on a much bigger opportunity, which would almost certainly not have been the case had we continued to grow our company in Canada alone.” Top Hat Monocle (Ontario) is a web- and mobile-based classroom response system that engages students and provides professors with the real-time feedback on student understanding. •Founded in 2009 and joined CTA@SF in January 2012 with the goal of developing a strong presence in the US •Adjusted their business model based on learnings in Silicon Valley (Pivot) •The company has 25 full-time employees and is in the process of hiring 20-30 sales reps and 10 more developers in Canada in mid 2012 •The company has seen more than $2M in sales immediately following the CTA (more that $5M forcasted this yr) and its products are used in 85 university campuses around the world – including Harvard, UPenn, UCLA & Virginia Tech) •$8 million in series A financing in July 2012
    24. 24. New York City • The world’s capital for advertising, media, commerce, financial services • Increasingly taking center-stage as a hot-bed for internet-based technology entrepreneurship NYC market is geared to supporting start-ups looking to: • Strengthening angel / VC investor networks • Landing a marquee client / strategic partnerships • Exploring expansion of business development operations into NYC
    25. 25. Canadian Technology Accelerator @NYC • • • • • launched in February 2012 Located at General Assembly at the heart of the NYC tech community. Specializes in media, advertising, publishing, and retail/e-commerce. The CTA@NYC houses six Canadian companies every quarter Orientation program (3 days) with access to network of mentors & business contacts • Mid-term program (2 days) with Demo Day • 45 Canadian startups have been through CTA@NYC General Assembly announced that they were closing their coworking space effective January 1, 2014. General Assembly has been a great partner. We will announce a new partnership in the coming months.
    26. 26. Alumni Network: Adfinitum, Authintic, BFB Online, BRIKA, BusBud, Buyosphere, BuzzBuzzHome, Cole & Parker, Cream.HR, Crowdsourced Testing, Datacratic, Elevate, Engagio, Frank & Oak, FundingMatters, Guestful, GreenOwl, Hovr.it, iThinkSecurity, Kytephone, Live Insite, Loose Button, MavenSay, Mobovivo, Ooka Island, Organimi, PetroFeed, Picatic, PO-MO Inc, Pressly, Robotics Design, SendToNews, ShinyAds, Shopcaster, Social Scavenger, SpeakerFile, SweetIQ, Tabillo, TouchBistro, Uken Games, Wantering, Wedding Republic, WhereCloud, Zighra Recruitment for Cohort #9 (Mar 5 to Jun 3, 2014) will be launched at the end of January 2014. Sign-up here to receive call for applications: ow.ly/oV7tA For more info: http://www.can-am.gc.ca/new-york/offices-bureaux/cta_media.aspx?lang=eng
    27. 27. Success Stories NEW CLIENTS Adfinitum St. John’s, NL CTA Group 2 (Summer 2012) NEW INVESTORS BusBud •Montreal, QC •CTA Group 5 (Spring 2013) Adfinitum Global Advertising Database to monitor competitive data BusBud is the “Expedia” for bus travel worldwide. Success : Expansion into NYC market which gave company credibility in the market. Resulted in landing a global confectionary company, a global IT services group, and a global credit card provider Success: Accelerating fundraising efforts by exposing company to several potential investors (as well as advisors to guide decision-making). Resulted in BusBud raising $1 M Series A with iNovia (Canada/NYC based) and a follow-on from White Star (NYC/Londonbased).
    28. 28. Boston - MIT, Harvard + 100 colleges Five of the top six NIH-funded hospitals Virtually all global bio-pharmas + 180 biotech firms Strong Tech cluster (EMC, Akamai, Nuance, Microsoft, Google, Amazon) - 120 VC firms + many Corporate VCs - Thriving entrepreneurial ecosystem: Strong Angel groups, CIC, MassChallenge, Tech Stars, MIT Venture Mentoring, etc
    29. 29. • • • • • Launched in March 2013 Located at MIT Kendall Square 500 start up at the CIC Life-Sciences and ICT Canadian Pavilion with open office  space for 12 desks • 3 months – continuous or flexible • Close to 20 participants already
    30. 30. To receive Boston CTA calls for applications: https://adobeformscentral.com/?f=dOFAES2DLFTK4Aouy7DYHA
    31. 31. Mindful Scientific is a diagnostic and management solutions company for concussion – Product is Halifax Consciousness Scanner (HCS) •CEO Ying Tam Joined the CTA@Boston in April 2013 with first group •Obtained first considerable local and international exposure/credibility by winning entrepreneurial competitions: TIE Challenge; IBM Global Entrepreneur Program; Harvard Extention; Retis YEI Prize (France) •Received cash, in-kind benefits and press coverage •Is in active due diligence with key Boston angel groups •Is in active discussion with professional soccer and football team in NE and Europe
    32. 32. What is CTA CleanTech NYC & Silicon Valley Targeted to high-potential clean technology early and growth stage companies in Canada: Technology: energy, water, air quality data analysis, and/or management; advanced materials; cleaner transportation, industrial process optimization, employee/customer engagement. Minimum viable product, scalability, and strong management in place Technology offer that is in line with NYC and/or California market needs Can benefit from strategic relationships with F500 companies and distribution through global value chains 2 cohorts a year, 10 companies/CEOs per cohort Selected participants receive: 3-month virtual program via webinars, one-on-one mentoring program, and demo day in NYC and Silicon Valley over 3 days Access to key resources in NYC & Silicon Valley including domain experts, investors, potential customers, F500 and strategics Upon graduation, an opportunity to take on a 4-8 month residency at NYC ACRE to raise capital or close deals with customers identified during the virtual program Alumni Network: Awesense, CarbonCure Technologies, eCamion, Effenco, Etalim, EnerMotion, Greengage Mobile, Odotech, Quadrogen, REGEN Energy Current Cohort: Circuit Meter, dPoint, Entropex, Fenix Energy, Materium, N-Dimension, Perfect Lithium, Solegear, Ywire Technologies Recruitment for Cohort #3 (January-February 2014) will be launched in early March 2014. Follow us on Twitter for call for applications: @cleantechCTA. For more info: http://www.can-am.gc.ca/new-york/offices-bureaux/cleantech.aspx?lang=eng
    33. 33. • CTA@Philadelphia Specializes In Health IT – focused on patient-centered solutions utilizing Health Information Technology, mobile devices & telemedicine to improve clinical processes, patient compliance & improve health & wellness Value Proposition – based at the University City Science Center largest & oldest Science Park in the US – close to the US financial center in New York & its regulatory center in Washington, DC – a convenient launch pad in the heart of the Northeast Corridor. – economic powerhouse in health sciences including pharmaceuticals, biotechnology, life sciences R&D, medical devices, healthcare services & supporting industries – Philadelphia trains 1 in 4 US physicians in world-renowned teaching hospitals, & is home to some of the nation’s top-ranked universities & a strong local research infrastructure
    34. 34. • Program Duration – – 3 month program twice a year (May and September) 6 start-up companies in each cycle. 12 companies in total per year. • Spring 2013 Class – – – – – Caristix transforms data flow & interoperability for hospitals Hospitalis improves clinical processes throughout the care continuum Infonaut offers real-time clinical information hospital infection prevention & control Memotext evidence-based personalization of patient compliance interventions Pulseinfo Frame database-driven informatics for disease management & clinical workflow improvement – Sensory tech telemedicine solutions for in-home hospice care services • Success Story – Inaugural spring class has generated 16 proposals estimated value = US$8m – Sales forecast for 2013 = US$3m – First sale was by Infonaut to Kaleida Health System (5 hospitals) for US$1.08m
    35. 35. The Canadian Technology Accelerator 250 companies to date! •Greater exposure to partners and networks of contacts to help companies grow well into the future •Establishing a presence in the market while acquiring new customers/clients •Ability to raise “smart” venture funding •Immersion into a culture of “open innovation” and entrepreneurial inspiration •Refining business model and objectives •Receiving dedicated services from the mission’s experienced trade commissioners •Accessing world-class mentors and advisors •Join networking events hosted by the Canadian missions On TCS website: http://www.tradecommissioner.gc.ca/eng/document.jsp? did=141338&cid=0091&oid=28
    36. 36. CTA Contacts San Francisco/Silicon Valley: •John.Zimmerman@international.gc.ca •Dina.Santos@international.gc.ca •Michael.Wozniak@international.gc.ca (Tech) •Matt.Pasiuk@international.gc.ca (Life-Sciences) •Daniel.Matross@international.gc.ca (Cleantech) Boston: •Thierry.Weissenburger@international.gc.ca •Christine.Sarkisian@international.gc.ca (Life-Sciences) •Christine.Carr@international.gc.ca (Tech) New York/Philadelphia: •Allison.Young@international.gc.ca •Miriam.Bekkouche@international.gc.ca (Tech) •Regine.Clement@international.gc.ca (Cleantech) •Vincent.Finn@international.gc.ca (Health IT)

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