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"Time to Scale Up" at SaaS North 2016

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CEO of OMERS Ventures John Ruffolo explains why Canada's startups need to scale up into globally competitive firms that employ thousands.

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"Time to Scale Up" at SaaS North 2016

  1. 1. TIME TO SCALE UP John Ruffolo  OMERS Ventures  CEO December 2016
  2. 2. WE DON’T HAVE A START-UP PROBLEM 1
  3. 3. STAGE OF DEALS Capital raising has been consistently strong since 2012 2 Illustrative Start-up Financing Lifecycle Breakeven Valley of Death Friends & Family Up to $500K Angels $500K - $2MM VC Round B $10MM - $30MM VC Round C $30MM - $100MM IPO $100MM + OMERS Ventures Target Stages VC Round A $2M - $10MM Early Stage Year 2 Later Stage Years 3 - 6 Liquidity Event Year 7+ Seed Financing Year 1 Start-up
  4. 4. We need Canadian start-ups to be able to scale up…  Into globally competitive firms  That generate revenue  Employ thousands of Canadians  And contribute to our tax base, maintaining public investments HELPING CANADIAN INNOVATORS TO SCALE UP 3
  5. 5. “Extraordinary value creation cannot occur without growth, and entrepreneurial growth, post-start-up, has numerous challenges which can be an order of magnitude more difficult than simply starting a venture.” - (Daniel Isenberg, Babson College) HOW DO WE GET THERE? Let’s recognize – this will not be easy: 4
  6. 6. A GOVERNMENT POLICY PLAYBOOK ACCESS TO CUSTOMERS ACCESS TO CAPITAL ACCESS TO TALENT Standard Setting/Regulation Intellectual Property / Copyright Global Trade, Government, Large Corporation Procurement International Corporate Taxation Attract Domestic, International Educate, Retrain Hire, Compensate Personal Taxation SRED Risk-based capital Incubators, Accelerators Lifecycle of an innovation-based company $0 $10MM $100MM $1BB+ Score = 0 Score = 8 Score = 4 REVENUES Government Scorecard
  7. 7. • Taxation of stock option • Temporary Foreign Worker Visa • Immigration • Government Procurement • SR&ED • More coming … PROGRESS THUS FAR 6
  8. 8. • More scaled-up Canadian innovation firms competing on world stage • And a better developed, more scaled-up ecosystem • This will position us to be acquirers, rather than always the acquiree. WHAT DO WE NEED? When it comes to innovation, we need: 7
  9. 9. With collaboration and bold action, we can scale up! HOW CAN YOU BE A PART OF THIS? 8
  10. 10. John Ruffolo Chief Executive Officer  416-369-3725  jruffolo@omersventures.com OMERS Ventures 200 Bay St Suite 1410, South Tower Toronto, ON M5J 2J2 THANK YOU! OMERS Ventures 9

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