As part of our ongoing series examining the ecosystem necessary to bring technology to market, we asked Jason Flick, Co-founder and President of You i Labs and President and CEO of Flick Software, to share some of his insights. This is the third of his commentaries and we welcome your feedback.
By Jason Flick
Over the past couple of years, incubators inspired by organizations such as Y Combinator and TechStars (see TechStars harnesses the power of mentorship) have taken the limelight and become hotbeds for angel investment and innovation. Montreal alone has seen at least six new incubators created so far in 2011. It is being done and it makes sense. In contrast, large enterprises often invest thousands of times more in R&D than the typical web or mobile startup needs to get to market, with questionable results.
Read More
This is the 22nd article in a continuing series that examines the state of the ecosystem necessary to successfully bring technology to market. Based on dozens of interviews with entrepreneurs, venture capitalists, angel investors, business leaders, academics, tech-transfer experts and policy makers, this series looks at what is working and what can be improved in the go-to-market ecosystem in the United States, Canada and Britain. We invite your feedback.
By Francis Moran and Leo Valiquette
In the context of getting technology to market, “champion” can mean a lot of different things.
Early in this series we defined it as individuals within established enterprises who see the value in supporting a new venture or investing resources in an innovation to help realize its commercial potential. This is often driven by the need to solve a pain point that the patron organization has been unable to address with its internal resources.
A champion can also be a senior decision maker within a large enterprise who provides the clout and support for a successful spinout. Many companies often sit on proprietary IP and leave its commercial potential unrealized because it doesn’t fit with their product lines or existing markets. However, with a little vision and persistence from few committed intrapreneurs, a new company can be born.
Read More
This is the 21st article in a continuing series that examines the state of the ecosystem necessary to successfully bring technology to market. Based on dozens of interviews with entrepreneurs, venture capitalists, angel investors, business leaders, academics, tech-transfer experts and policy makers, this series looks at what is working and what can be improved in the go-to-market ecosystem in the United States, Canada and Britain. We invite your feedback.
By Francis Moran and Leo Valiquette
This week we conclude our two-part discussion with Jon Bradford, the man behind The Difference Engine and Springboard, two U.K.-based startup accelerators that took their inspiration from TechStars and Y Combinator in the U.S.
The Difference Engine was an initiative supported by public funds that launched in the north east of England two years ago. While that program was successful, funding cuts to regional economic development, as well as a desire among angel investors to regroup in a more central location, led to what was essentially v2.0 of The Difference Engine, Springboard. Springboard is an intensive 13-week program based at the ideaSpace Enterprise Accelerator, part of Cambridge University’s state-of-the-art Hauser Forum.
Last week, Jon talked about the role that Springboard plays in the commercialization ecosystem, how it selects teams for its program, and the characteristics of a winning team. This week, we continue with his thoughts on why companies fail, how Springboard measures its effectiveness and what it takes to create a successful startup accelerator.
Read More
As part of our ongoing series examining the ecosystem necessary to bring technology to market, we asked investment coach Martin Soorjoo to share his thoughts on how startups can overcome the challenges of securing early-stage financing. This is the first of his commentaries and we welcome your comments.
By Martin Soorjoo
This is the true story of “Ryan” (not his real name), a serial entrepreneur with no qualifications and a very limited understanding of financials or launching a startup. Ryan, however, is an entrepreneur with a deep understanding of people, who consistently and easily raises hundreds of thousands of dollars from savvy, experienced investors.
I first came across Ryan six years ago when he approached me to help him create some pitch materials. He explained that he had persuaded two investors (both bankers) to invest $500,000 in his IDEA (no prototype, company or team) but that one of the investors had asked to see details of his business model and financial projections.
Initially, I was skeptical as to whether the potential investors had, in fact, actually committed or had simply expressed an interest in learning more about Ryan’s idea.
Sensing my skepticism, Ryan called one of the bankers on his cell phone, explained that I was helping him put together the information that had been requested and asked the banker to confirm for me that he was investing. Sure enough, banker X confirmed that both he and banker Y were investing but would appreciate understanding a bit more detail. About a month later, Ryan received the investment.
Read More
As part of our ongoing series examining the ecosystem necessary to bring technology to market, we asked veteran technology executive and angel investor Ron Weissman to share his thoughts on how startups can overcome the challenges of securing early-stage financing. This is the first of his commentaries and we welcome your comments.
By Ron Weissman
Why do some first-time CEOs find it hard to get to first base with investors? The product story that CEOs want to tell has often little to do with the business story that investors need to hear before they will invest. Product- or engineering-driven CEOs new to the VC world beg, “Please let me demo my product! It will change the world. For $500,000 you will own a piece of the next Facebook.”
But the story that investors need to hear is different. “How does your business work? How will you scale to become a profitable market leader? Is this the kind of business that meets my investors’ financial objectives?”
Read More
By Jason Flick
