Enable U Presentation D Mathers

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Enable U Presentation D Mathers

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

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