Author Archive

The Millennial-Startup Equation That’s Drawing Investors In

Wednesday, December 21st, 2016

The undeniable business case for startups delivering products and services that speak to the millennial consumer segment is getting stronger by the year. As Sue McGill, MaRS Discovery District’s Head of Consumer & Commerce, points out:

“Investors place bets on companies that have the potential to become big exits and create significant returns on their capital… By 2020, millennials will form 50% of the global workforce and will be a major driving force in the global economy.”

When we investigated millennial-targeting startup success stories, our insight-rich discussion with Sue McGill provided crucial context:

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Millennial-focused startups that attract major financial votes of confidence from funders aren’t confined to one sector. Our roundup of 3 startups achieving major success took us from fintech through to cosmetics:

Three Startups That Raised Millions by Targeting Millennials

The social media conversation fuels both the startup sphere and millennial spending: to cap our investigation, we looked at MutualMind, a company whose Bluemix-fueled social listening product led to acquisition by top marketing firm Shapiro & Raj.

Bluemix and Millennial-Targeting Ingenuity Kickstarted This Startup

 

Top 5 Tech Stories of 2016

Wednesday, December 21st, 2016

2016 was a year that saw both steady progress and revolutionary leaps in the tech sector. The Internet of Things came into its own, augmented reality changed the visual landscape of cities, and cognitive computing became a force that is impossible to ignore.

Here are our picks for the top 5 tech stories of 2016:

1) THE IOT

Companies such as Uber began capitalizing on the connected “things” of the Internet of Things in a major way: as a “service enabler,” Uber used connectivity to create profits out of pre-existing products and needs.

Connecting drivers and passengers (and, very soon, driverless cars) has also created a data gold mine that app developer partners are eager to access.

2) BLOCKCHAIN

The visibility of the blockchain skyrocketed, and its transformative impact on the economy became clear.

By decentralizing records of exchanges of value, the blockchain has forced traditional banking institutions to take fintech seriously, and has created enormous opportunity for startups.

3) COGNITIVE AND AI

College students created an open-source AI in a day and a half to combat fake news on Facebook. Not only did this elevate the visibility of cognitive and artificial intelligence, it was a direct example of how technology can be applied to pressing social needs.

4) THE CLOUD

Development began to migrate to the cloud, signalling the inevitable democratization of development. Defying the previous expectation that cloud-based development limits flexibility in favour of shareability and scalability, developers began to turn to established services such as GitHub, Docker, and Atlassian JIRA, which have already made collective coding a practical reality.

5) AR

How could we do a 2016 tech roundup without mentioning Pokémon GO? Proving that the line between games and serious technological evolution is a blurry one, the hit AR app showed enterprise, industry, and developers that people are ready to embrace augmented reality.

IBM Facilitates Serverless Computing With OpenWhisk

Monday, December 19th, 2016

“Going serverless” is rapidly becoming the deployment option of choice for developers looking for maximum flexibility.

It just makes sense: Why take on the additional responsibility, complexity, and cost of provisioning and configuring servers, when your code can simply be ready when you are—called on an event basis and billed according to resources consumed, not server time.

IBM has made significant investments in OpenWhisk, an open-source, event-driven FaaS platform. OpenWhisk is now generally available via Bluemix, IBM’s cloud platform.

Recently accepted into the open community of Apache developers, OpenWhisk now includes new services such as:

  • Instant debugging for Node.js, Python and Swift actions
  • Integration with Message Hub, a Bluemix-hosted Apache Kafka service for real-time build outs of data pipelines and streaming apps
  • Support for new runtimes such as Java, Node v6, Python and Swift v3
  • An extension for Visual Studio Code
  • A new and improved user interface to simplify browser-based development and testing

Santander Group, one of the world’s top banks by market capitalization, is adopting OpenWhisk to speed time-to-market for its digital banking services.

“OpenWhisk provides the instant infrastructure we need for intense tasks and unexpected peaks in workload,” said Luis Enriquez, head of platform engineering and architecture at Santander Group, “and is a key building block as we move to a real-time and event-driven architecture.”

Learn more about why OpenWhisk is the most flexible serverless computing platform for enterprise here.

Not a Myth: Why Startups That Zero In On Millennials Attract Investment

Friday, December 16th, 2016

The digital natives and early adopters of the millennial generation are a central focus for many startups that are attracting major interest — and major funding.

Mentor and innovation advocate Sue McGill has been a central driver in the startup space for years, and can point to one of the many reasons why this is the case: “Given their impact – socially, culturally and economically – ventures that are specifically catering to (millennials) stand a good chance of enjoying huge wins and outperforming the market in the long run. As a result, this category of startup is attractive to investors.”

TechPORTFOLIO: Are startups focused on millennials seeing an upswing in funder interest?

Sue McGill: Investors place bets on companies that have the potential to become big exits and create significant returns on their capital. Having said that, there is a powerful generational shift happening in the market. By 2020, millennials will form 50% of the global workforce and will be a major driving force in the global economy.

TechPORTFOLIO: What should founders seeking to cater to millennials focus on?

Sue McGill: Tapping into millennials has become a growing focus for startups and many other enterprises. It’s important to note that the largest (and fastest growing) millennial populations are located in emerging markets like India, China, Brazil and Indonesia.

Reaching millennials in these regions requires founders to rethink every aspect of their go-to market strategy – this includes product, marketing, communications, supply chain and talent. It also demands a deep understanding of cultural trends and regulatory frameworks. Building ‘local context’ into a startup’s strategy is critical and often overlooked.

Another key variable is timing. Driving growth in these emerging millennial markets is rarely linear, so timing matters as much as having a great product or service.

TechPORTFOLIO: At MaRS, you work with many millennial founders. What sets them apart as drivers of new companies and ideas?

Sue McGill: We work with founders that span all ages and backgrounds at MaRS. There’s a relentless, ever-ambitious force that underpins them all. However, our millennial founders do share a few unique characteristics that are worth highlighting.

Millennials want to make a difference. They consider themselves to be global citizens, but also supporters of locally-driven solutions. They have huge expectations around the consumer experience, thanks to their inherently digital DNA. Plus, they think more broadly about sustainability. It is the convergence of these forces that is inspiring our millennial founders to create and unlock exciting and new sources in the market.

TechPORTFOLIO: Is it a mistake to look at the millennial demographic as different from Gen X or Boomers when it comes to how they engage with new products and ideas?

Sue McGill: No, not at all. Each consumer segment has unique needs and consequently creates unique product and market opportunities. With life expectancy increasing and birth rates falling in many parts of the world, there’s a very large and growing concentration of people aged 65 and over, in addition to millennials at the other end of the spectrum.

Startups that are capitalizing on this demographic trend and innovating across areas such as digital health, targeted pharmaceuticals, assistive technologies and more stand to benefit greatly.

 

Bluemix and Millennial-Targeting Ingenuity Kickstarted This Startup

Thursday, December 15th, 2016

Millennials are using social media in droves — and businesses are listening. But how do businesses turn all that communication into profitable engagement?

MutualMind, a startup using IBM’s Bluemix developer portal, made it work, attracting angel investors and eventually getting acquired by forward-looking marketing firm Shapiro+Raj.

The vast majority of millennials use digital channels to research, criticize, or get support from companies, and social media significantly affects their purchasing decisions. 85% of millennials use social media to research products and services. MutualMind’s approach to hearing and activating this conversation, manifested through Bluemix, is what attracted investors.  

Here are three features that led to MutualMind’s success:

The feature: Integration with Watson, IBM’s cognitive computing system.

Why it’s important: Sentiment analysis is a critical tool in analyzing the casual speech that rules social media.

The feature: The Adaptive Listening interface allows businesses using MutualMind to spot and react to mentions immediately.

Why it’s important: 42% of consumers who make a complaint on social media expect a response within the hour. When millennials have a chance to interact with brands in a meaningful and timely way, they’re much more inclined to be loyal to, or even evangelize them.

The feature: A Command Center that pulls a business’s relevant social data into one dashboard, with real-time visualizations.

Why it’s important: With constant activity on Facebook, Instagram, Snapchat, and more, millennials don’t just use one platform to communicate. To get a handle what they’re saying, you have to defragment the landscape.

Fuse Bluemix with your startup today to embrace over 130 services that can push your enterprise to the next level.

The Practical Age of Monetized Data Has Finally Arrived

Wednesday, December 14th, 2016

Major companies like Uber and Under Armour are putting data to work, and the emerging partnerships and new app developments are having a bottom-line impact. Uber recently invited developers to use its driver data to create money-and- advantage-spinning apps:

Uber Turns Passive Data Into Active Earnings

Under Armour is bundling data-collecting fitness hardware and software into a package that athletes at all levels are finding irresistible:

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And for startups and developers keen to enter this era of monetized data, we assembled tutorials that show developers how they can harness data for practical uses, with a compelling example or two along the way:

As we move into 2017, keep tracking the data monetization conversation here at TechPORTFOLIO.

IBM Brings New Depth to Blockchain Ecosystem For Developers

Tuesday, December 13th, 2016

“The future growth and adoption of blockchain is reliant upon building a strong ecosystem,” says Bridget Van Kralingen, senior vice president, IBM Industry Platforms.

The blockchain is here. From its underground start as the base technology behind popular crypto-currencies like Bitcoin, to its enormous potential as a secure, distributed transaction layer for business, blockchain is slowly coming of age.

Like so many promising technologies, blockchain is going to need adoption at scale by entire industries in order to hit maturity.

IBM’s recently launched Blockchain Ecosystem is intended to be just that: An open source, openly governed, cross-industry effort to advance the Linux Foundation blockchain technology known as The Hyperledger Project.

“The growing maturity of the Hyperledger Project code is a major milestone,” says Van Kralingen, “that’s why IBM is investing to help developers accelerate the creation of blockchain networks by providing an environment where these players can work together.”

IBM’s Blockchain Ecosystem already includes dozens of players including Cloudsoft, EY, Everledger, Gliding Eagle, HACERA, The Hive, and Mooti Blockchain Digital Identity.

For more details, visit the IBM Blockchain Ecosystem page.

IBM SmartCamp Shines a Light On London’s Burgeoning Tech Ecosystem

Thursday, December 8th, 2016

If you read media coverage of the Canadian tech startup scene, you’re used to seeing the same three regions listed time and time again: Vancouver, Kitchener-Waterloo, and Toronto. But there’s a wealth of incredible tech talent in other cities across Canada and thanks in part to the rise of “demo days” and accelerators, those companies are starting to break through to get attention.

Case in point: London, Ontario’s SmartCamp Pitch Competition happening December 14 will push Canadian tech talent onto an international stage.

Co-hosted by London’s own TechAlliance and IBM Canada, the event provides an opportunity for seven applicants to live-pitch their ideas to a panel of judges. The prize: Winning a top-spot at the SmartCamp Global Finals at San Francisco’s LAUNCH Festival in April, 2017.

“It’s a great opportunity for our local entrepreneurs,” says Marilyn Sinclair, President & CEO of TechAlliance, which will be actively helping competitors craft their pitches, as well as offering support after the event.

Sinclair thinks London’s SmartCamp event is the perfect vehicle to help shine a light on the city’s burgeoning tech community. “We have a very diverse tech sector,” she says.

That diversity is one reason why Sinclair thinks London, Ont. doesn’t always get the attention of tech hubs like Kitchener-Waterloo, an ecosystem that is packaged and branded in a familiar way for the venture capital world.

Nevil Knupp, IBM CanadaNevil Knupp, Client Executive and Sales Transformation Leader at IBM Canada, agrees.

“There is an incredibly deep and diverse pool of talent in London,” he says. “The skilled individuals that graduate from Fanshawe College and Western University are world class and many seek to build new businesses that help solve real problems for today’s consumer and commercial enterprises. With IBM’s support and leadership in projects like SmartCamp, we are helping to make these opportunities possible.”

IBM is supporting SmartCamp competitors with an offering of cloud, cognitive and analytics tools and services — of the seven teams competing, three will win funding through IBM’s Global Entrepreneur Program.

“We’re helping young Canadian companies innovate and be successful in Canada,” says Knupp. “We are enabling these companies to get off the ground and have a chance to be successful by giving them access to all the tools and technology they would need in the IBM Cloud platform.”

Winning a pitch competition takes more than raw talent, however, and Sinclair and Knupp have some advice for London-based entrepreneurs looking to bring their A-game: “We’re looking for solutions to real-world problems,” Knupp says.

And those solutions need to be unique, he points out, warning that founders should be prepared to show that their business “goes above and beyond any run-of-the-mill app.”

The pitch won’t be won on uniqueness alone, Knupp adds, indicating that the founders themselves will be judged too. “We’re looking for people who are extremely bright, capable and ideally have a track record in something else they’ve already done.”

Sinclair takes a similar view: “You could have a good idea but it has to be matched with the right entrepreneur.”

If there’s one thing she thinks founders should keep in mind as they get ready to wow the judges: “Be very clear and concise.”

To attend IBM SmartCamp in London, ON, register free here.

This 3D Mirror Sees And Scans Faces

Wednesday, December 7th, 2016

The retail sphere continues to be one of the most agile adopters of technology: a recent partnership between a 3D-scanning company and eyewear tech developer Sfered is the latest example.

In 0.1 seconds, the smart mirror designed by Fuel3D can capture all the data it needs to create an accurate 3D model of your face. This technology is about to make shopping for glasses easier, and widen consumer options exponentially.

As Luke Dormehl writes in Digital Trends, customers who walk into an optical store featuring Fuel3D’s mirror won’t be limited to choosing from the glasses on the shelves. The latest eyewear catalogs will be constantly uploaded into the smart mirror, allowing shoppers to find the perfect fit.

“We [chose to incorporate] the design into a mirror because when people look into a mirror, they focus much more naturally than if they are looking into a camera,” says Phil Newman, Fuel 3D’s CMO.  

It’s becoming increasingly common for end users to first encounter the latest technology while they’re shopping for something completely different. In the near future, you can look forward to seeing and being seen by smart mirrors at optical stores, and beyond.

New Bluemix Hub Supercharges Toolchain Functionality

Tuesday, December 6th, 2016

In the DevOps world, consistency and automation are wonderful things. Both help reduce errors, speeding the delivery of bug-free, production-ready code.

To create a really powerful DevOps environment, developers need flexibility to use the right tools for the right function, without being locked in. That’s why toolchains have become so popular, and why IBM continues to support and expand the use of them throughout its Bluemix cloud development platform.

To help with the sometimes tough task of managing toolchains, IBM is releasing the IBM Bluemix Continuous Delivery service with GitHub and Slack integration. It acts as a central hub for quickly creating, managing and scaling toolchains.

Continuous Delivery templates the toolchain function, giving users the ability to clone and modify existing templates that help build microservices, containers or cloud-native applications.

With the advent of Continuous Delivery, IBM has also added integrations with popular solutions such as GitHub, Slack, PagerDuty and SauceLabs: services that developers already rely on for both their personal and professional projects.