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  • 1. Dan Mathers March 24 2010 Venture Support: “More than just a referral service”
  • 2.
    • The world is full of asteroids of mush and pebbles of granite .... You just need to know which ones to avoid
  • 3. Where do startups come from?
    • … The process isn’t that different than a pearl made by an oyster
    • … An entrepreneur gets an idea and forms a business from that idea
    • … Every entrepreneur is different
    • … Every business is different
    • … As a business evolves it has different needs
  • 4. The Six Stages of a Startup
    • Idea
    • Company Formation
    • Product Development
    • Pre-Revenue
    • Early Revenues
    • Mature Startup
    • … Need to shift gears at each stage of development
    • … Not every entrepreneur has all of the gears in their gearbox
  • 5. Key principles
      • Build a team of experienced Entrepreneurs and make them available as Entrepreneurs-in- Residence (EIRs) who can add value in helping companies through all stages of growth
        • … Complete range of functional and industry sector expertise
      • Work with entrepreneurs to help them understand the most effective processes to follow to build a strong business
      • Provide resources and support on an ‘as-required’ basis
      • Be the entrepreneur’s ‘Secret Decoder Ring’
  • 6.
      • And …..
      • … Keep the Entrepreneur in Residence engagement to a 1-2 year engagement
      • Ensures that EIR has relevant, current experience & Keeps talent circulating in the startup ecosystem
  • 7.
    • It’s important to keep in mind …..
    • … that often entrepreneurs don’t know what they need and so sometimes ask for the wrong thing
    • … part of the role of an EIR is to help the entrepreneur ask the right questions
  • 8. Tools in our Toolkit
      • There has never been more support available to entrepreneurs and startup companies than there is now
      • Many government programs and significant funding available for companies
        • Both generic and sector/stage specific
      • The secret is applying them at the right time & place
  • 9. 4 major Buckets of Help
    • Education, including how-to templates with advice on how to use them
    • Grants & Funding to accelerate growth of business
    • Mentoring and coaching (i.e. answering questions and helping entrepreneurs throught the thought process
    • Leveraging the collective ‘network’
  • 10. Education
    • Lots available
      • Lunch & Learns
      • P2P Groups
      • On-Line Content
      • How-to Templates
        • Legal Guide for startups
        • MaRS Strategy Workbooks (more planned)
        • MaRS Business Plan Templates
        • IAF and MaRS Investor Slide Deck
    • EIRs are key source of input for program development
  • 11. Grants & Funding
    • More government support here than ever before
    • Grants
      • MaRS Embedded Exec & Business Advisory Services
      • MaRS Market Intelligence Service
      • OCE Research and Market Readiness Grants
      • HTX Business Investment, Clinical Trial Grants etc
      • Others are popping up from time to time
  • 12. Grants & Funding
    • Funding
      • OCE Embedded Exec and Syndicated Investment
      • OCE Investment Accelerator Fund
      • MRIs Innovation Demonstration Fund
      • IRAP
      • Sustainable Development Technology Canada (SDTC)
      • And many, many more
  • 13.
    • Being a CEO and/or Founder can be a pretty lonely place to be ……
    • … . Made less lonely by having someone you can bounce ideas off of and who can provide solid advice
  • 14. Mentoring & Coaching
    • With the right team of EIRs, there are not very many situations that at least someone on the team hasn’t seen
    • The best way to ensure that mistakes aren’t repeated is to make the mistake the first time and learn from it
    • We help the entrepreneur/founder by giving them the benefits (learning) of having made the mistake without them actually having to make the mistake
  • 15.
    • And one of the most effective tools ….
    • … is the simplest tool
    • Helping the entrepreneur/founder tell their story in a compelling way
  • 16.
    • So what’s in it for the EIR …
    • … Opportunity to be a key contributor to a strong healthy ecosystem
    • … Maintain community stickiness
    • … Stay plugged into deal flow
    • … Opportunity for learning and diversity
  • 17.
    • Thank you!
        • Dan Mathers
        • Executive-in-Residence
        • Communitech
        • [email_address]