Sonia Sennik
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The Creative Destruction Lab is a seed-stage program for science and technology startups that aims to address the lack of high-quality judgment outside of Silicon Valley. It consists of a series of intensive sessions where founders receive mentorship and advice from experts. The program has expanded nationally across Canada and will launch in New York City in 2018. It focuses on massively scalable ventures and accepts companies in various technology fields like AI, health, quantum computing, and more. The goal is to help founders with technical validation, accelerating time to market, and optimizing product-market fit.
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Sonia Sennik
- 3. Why is it harder to build startups outside of Silicon Valley? Thesis The primary cause for poor performance in translating regional excellence in innovation into entrepreneurial success is not a lack of: • Ideas/Intellectual Property • Effort • Capital
- 4. …instead, the primary reason is a lack of high quality judgment
- 5. Rationale for CDL Model 1. Entrepreneurial judgment is hard to come by outside of Silicon Valley 2. Licensing model of technology transfer has failed to generate desired results 3. Business schools can be more active in supporting academic entrepreneurs
- 6. The Creative Destruction Lab CDL is a seed-stage program for massively scalable, science- and technology-based startups. • Seed-stage companies • Not an accelerator or incubator • Massively scalable companies • Science- and technology-based companies
- 7. CDL Sessions • Core of the program. • Series of 5 full-day meetings with CDL Fellows and Associates. Once every 8 weeks. • Each session day immerses founders in a community of accomplished entrepreneurs, experienced operators, and active angel and venture investors. Anousheh Ansari Founder, Prodea Systems Tony Lacavera Founder, WIND Mobile Ted Livingston Founder, Kik Tomi Poutanen Founder, Layer6 AI Geordie Rose Founder, D-Wave Systems Shivon Zilis Founder, Bloomberg Beta Manish Patel Early Google Employee, Co-inventor of Adwords & Chromecast Mike Serbinis Founder, Kobo Elizabeth Caley Founder, Meta Director, Chan Zuckerberg Initiative Amielle Lake Founder, Tagga Media Tyson Clark Partner, Google Ventures Sven Strohband Partner & CTO, Khosla Ventures This is a small selection of CDL’s F&A.
- 8. CDL Sessions: One-on-One Meetings • Multiple one-on-one mentoring meetings • Explanations of what, how, and why • What would the Fellow or Associate do in the founder’s shoes?
- 9. CDL Sessions: Group Meetings • Group meetings focused on finalizing 8-week objectives (measurable, deliverable in 8-weeks, agreeable to founders)
- 11. • Technology assessment meetings • Ad-hoc tech. roadmap advising • Long-term formal advising Chief Scientists This is a small selection of CDL’s Scientists. Andrew Pelling Biomaterials and Biodevices, University of Ottawa David Jaffray Radiation Physics, University Health Network - Toronto Roger Melko Computational quantum many-body physics Molly Shoichet Biomedical Engineering, University of Toronto Steve Mann Wearables, augmented reality, human- computer interaction Peter Wittek Quantum machine learning Yoshua Bengio Deep Learning, Montreal Institute of Machine Learning Peter Zandstra Biomedical engineering, University of British Columbia
- 12. CDL Sessions • Peer-reviewed Advice: Advice on what to do and how to do it is observed by a group of expert entrepreneurs who hold one another accountable • Investment: No obligation to invest or to take investment. However, regular CDL Sessions give Fellows and Associates a better sense of a founder’s trajectory, often leading to seed investment • Venture Elimination: Fellows and Associates must choose who they want to work with and commit to four hours of mentoring between CDL Sessions
- 13. CDL - West Vancouver 25 Prime 25 BioMedTech CDL - Rockies Calgary 25 Prime (Energy Focus) CDL - Toronto 25 Prime 100 Machine Learning 25 Quantum Machine Learning CDL - Montreal 25 Machine Learning CDL - Atlantic Halifax 25 Prime (Blue-Green Tech Focus) 2017: Creative Destruction Lab National Expansion 275 Ventures
- 14. CDL-West (University of British Columbia) • Advanced Intelligent Systems • Alavida • Blue Mesa Health • Careteam • Clir • Correlia Biosystems • Creatus Biosciences • CRM GeoTomography Technologies • CSD Labs • CTO.ai • Dooly • Elevated Signals • EZ-Robot • HeadCheck Health • Human in Motion Robotics • Humon • Industrial Plankton • InnoVein • Mediphage Bioceuticals • Mesentech • Nano-Lit Technologies BC • ODS Medical • Orpryx Medical Technologies • ProT Therapeutics • Ravata Solutions • Routific • Starling Minds • Volta Air Technology 2017/18 GRADUATES
- 15. CDL-Rockies (University of Calgary) • Carbon Upcycling Technologies • Ingu Solutions • Interface Fluidics • Mangrove Water Technologies • Neuraura • ReWatt Power • SensorUp • Swirltex • Terrapin Geothermics • TikTiks • Unsist • Vivametrica • VizworX • Zept 2017/18 GRADUATES
- 16. CDL-Toronto (University of Toronto) • Adaptive Finance • Audible Reality • Avro Life Science • Awake Labs • BiomeRenewables • Black • Blue Lava AI • Boxcat • Brisk Synergies • Brizi • Cerebri AI • Conic • CryptoNumerics • Darwin AI • FleetOps • Genecis EnviroTech • Hala Systems • HealthChain • Imminenth • Indus AI • InnerSpace • Innovative Protein Technologies • Instantia Labs • Intuitive • IRYStec • Kira Talent • KOMPAS • LabsCubed • Luminari Talent • Mekonos • Molly • NanoQuan • Netramark • NuCypher • Oncoustics • OTI Lumionics • Phenomic • Plum • Precision Agritech • ProteinQure • QAssurance • QBNet • Qspice • QuantumSense • Saccade Analytics • Savormetrics • Shakepay • Shield Crypto Systems • SolidState AI • SomaDetect • SortSpoke • Stepsize • Triage • TritonWear • Untether AI • Wondereur • Zymewire 2017/18 GRADUATES
- 17. CDL-Montreal (HEC Montréal) • HeyDay • Local Logic • MarketMuse • Optina Diagnostic • reDock • Stratuscent • TradeTeq • True Positive MD • Vyrill 2017/18 GRADUATES
- 18. CDL-Atlantic (Dalhousie University) • Bereda Training • Borealis Wind • Chinova Bioworks • EnergyX • Graphite Innovation & Technologies • Harbr • Jaza • Kognitiv Spark • Mysa Smart Thermostats • Salient Energy • Seaformatics Systems • WhiteCap Scientific 2017/18 GRADUATES
- 19. IMAGE PLACEHOLDER CDL-NYC will kick off at NYU – Stern School of Business in Fall 2018 CDL’s 2018/19 Venture Cohort Estimated cohort of 350 ventures across 6 CDL sites for 2018/19 Program Year 19
- 20. CDL Streams in 2018/19 Vancouver Prime Health Calgary Prime (Clean Focus) Energy Toronto Prime AI Cities Crypto Health Quantum New York Prime Montreal AI (x2) Halifax Prime (Oceans Focus) 350 Ventures
- 22. Lesson #1 – Technical Validation
- 24. Lesson #2 – Accelerate Time to Market
- 26. Lesson #3 – Optimize Product Market Fit
- 28. Thank you!