Archive for the ‘Marketing’ Category

How Startups Can Use Growth Marketing to Scale Efficiently

Saturday, February 21st, 2026

Relying solely on traditional advertising is no longer effective—especially for startups. Competition is intense, and early-stage companies often face tight budget constraints.

This is where growth marketing comes in.

Unlike traditional marketing, growth marketing is data-driven, experimental, and focused on long-term, scalable growth. It combines marketing, product, analytics, and customer experience to optimize the entire customer journey—from acquisition to retention and referral.

This step-by-step guide explains how startups can use growth marketing efficiently and sustainably.

What Is Growth Marketing?

Growth marketing is a strategy focused on:

  • Acquiring customers through data-driven channels
  • Optimizing conversion at every stage
  • Retaining customers long-term
  • Turning customers into advocates

It goes beyond awareness and focuses on measurable, scalable growth.

Step 1: Define Your Ideal Target Customer

Startups cannot afford to waste resources.

Before running any campaign, clearly define:

  • Who your ideal customer is
  • What problem they face
  • Why your solution is better

95% of startups fail due to unclear messaging. Your value proposition must be simple and clear:

  • What are you offering?
  • Who is it for?
  • Why is it better than alternatives?

Clarity reduces marketing costs and increases conversion rates.

Step 2: Focus on Efficient Acquisition Channels

Early-stage startups should prioritize low-cost, high-return channels.

Best channels for startups:

  • SEO & Content Marketing – Long-term organic traffic
  • Social Media Marketing – Community building & brand awareness
  • Email Marketing – High ROI and retention support
  • Referral Programs – Viral, low-cost user acquisition
  • Community Building – Long-term loyalty

Instead of spreading efforts too thin, focus on one or two channels and master them.

Step 3: Optimize for Conversion (Not Just Traffic)

Many startups obsess over traffic but ignore conversion.

Your goals:

  • Keep visitors on your landing pages
  • Improve page load speed
  • Reduce friction in sign-up forms
  • Create strong, clear CTAs
  • Simplify onboarding

Use A/B testing to optimize:

  • Headlines
  • CTAs
  • Landing page layouts
  • Pricing models

Traffic without conversion is wasted effort.

Step 4: Track the Right Metrics

Growth marketing is data-driven. You must track:

  • Customer Acquisition Cost (CAC)
  • Lifetime Value (LTV)
  • Conversion Rate
  • Retention Rate
  • Churn Rate

If LTV is lower than CAC, your model is unsustainable.

Metrics allow you to scale intelligently instead of guessing.

Step 5: Prioritize Retention

Acquiring new customers is expensive. Retaining customers is cheaper and more profitable.

Retention marketing includes:

  • Email follow-ups
  • Loyalty programs
  • Personalized offers
  • Customer feedback loops
  • Product updates & engagement campaigns

Retention increases lifetime value and reduces churn, which directly improves profitability.

Step 6: Build Referral Loops

Referral programs are powerful for startups because they are:

  • Low-cost
  • High-trust
  • Potentially viral

Effective referral strategies include:

  • Referral rewards
  • Social sharing incentives
  • Built-in shareable features

When customers bring new customers, growth compounds.

Growth Marketing Strategy Overview

StrategyPurposeBudget LevelExpected Impact
SEO & ContentLong-term trafficLowSustainable growth
Social MediaBrand awarenessLow–MediumCommunity growth
Email MarketingRetention & salesLowHigh ROI
Referral ProgramsUser acquisitionLowViral growth
A/B TestingConversion improvementLowHigher efficiency
Paid Ads (Controlled)Fast tractionMediumQuick validation

Common Growth Marketing Mistakes

Avoid these pitfalls:

  • Spending heavily on paid ads too early
  • Targeting everyone instead of a niche
  • Ignoring retention
  • Copying competitors without testing
  • Failing to analyze data

Growth requires experimentation, but also discipline.

Cost-Effective Growth Tips

  • Start with organic channels (SEO, content)
  • Use free analytics tools
  • Repurpose content across platforms
  • Collaborate with micro-influencers
  • Focus on solving one core customer pain point

Small startups that use growth marketing strategically can compete with much larger companies.

Final Thoughts

Growth marketing allows startups to scale efficiently without burning capital.

Instead of blindly spending on ads:

  • Understand your audience deeply
  • Optimize your funnel
  • Track your metrics
  • Focus on retention
  • Build referral systems

Sustainable growth is not accidental—it’s engineered.

FAQ

1. What is growth marketing for startups?

It’s a data-driven marketing approach focused on acquiring, converting, retaining, and growing customers efficiently.

2. Can growth marketing work on a small budget?

Yes. It prioritizes high-ROI channels and scalable systems rather than large ad spends.

3. How quickly can you see results?

  • Paid ads: immediate
  • SEO & content: 3–6 months
  • Referral & retention: compounding over time

4. How is growth marketing different from traditional marketing?

Traditional marketing focuses on awareness. Growth marketing focuses on the full customer journey and measurable revenue impact.

5. What is the most effective growth channel?

It depends on your business model. However, SEO, referrals, and email marketing often produce the strongest long-term results.

Tags: , ,
Posted in Marketing, Startups | Comments Off on How Startups Can Use Growth Marketing to Scale Efficiently

Top Growth Hacking Tactics Startups Use to Scale Fast

Monday, February 16th, 2026

Startups don’t always have big budgets — but they do need fast growth. That’s where growth hacking tactics come in. Growth hacking is about using creative, low-cost strategies to acquire users, increase engagement, and scale quickly.

Unlike traditional marketing, growth hacking focuses on rapid experimentation, data analysis, and scalable channels. Let’s explore the most effective growth hacking tactics startups use to grow fast.

What Are Growth Hacking Tactics?

Growth hacking tactics are innovative marketing strategies designed to achieve rapid business growth with limited resources.

These tactics focus on:

  • User acquisition
  • Retention
  • Revenue optimization
  • Viral expansion
  • Data-driven decision-making

The goal is simple: grow quickly and efficiently.

1. Build a Strong Referral Program

Referral marketing is one of the most powerful growth hacking tactics.

When users invite others, your business grows organically. Offer incentives like:

  • Discounts
  • Free credits
  • Bonus features

A well-designed referral system can turn customers into brand ambassadors.

2. Leverage Viral Loops

A viral loop happens when new users bring in more users automatically.

For example:

  • Social sharing rewards
  • Invite-only access
  • Share-to-unlock features

The key is to make sharing a natural part of the product experience.

3. Optimize Landing Pages for Conversions

Traffic without conversions is useless.

Startups use growth hacking tactics like:

  • A/B testing headlines
  • Testing CTA buttons
  • Improving page speed
  • Simplifying forms

Small changes can significantly increase conversion rates.

4. Use Content Marketing Strategically

Content remains one of the most sustainable growth hacking tactics.

Focus on:

  • SEO-driven blog posts
  • Problem-solving guides
  • Case studies
  • Data-backed content

When done right, content brings long-term organic traffic without heavy ad spend.

5. Product-Led Growth Strategy

Instead of relying only on sales teams, many startups let the product drive growth.

Examples:

  • Free trials
  • Freemium models
  • Limited free access

Users experience value first, then upgrade.

6. Leverage Social Proof

People trust people.

Add:

  • Customer testimonials
  • User reviews
  • Case studies
  • Media mentions

Social proof increases trust and boosts conversions.

7. Collaborate With Micro-Influencers

You don’t need celebrities.

Micro-influencers often have:

  • Higher engagement rates
  • Niche audiences
  • Lower costs

Partnering with them is one of the smartest growth hacking tactics for startups.

8. Retargeting and Email Automation

Most visitors don’t convert on the first visit.

Use:

  • Retargeting ads
  • Abandoned cart emails
  • Welcome sequences
  • Personalized follow-ups

Automation ensures you don’t lose potential customers.

Summary Table: Growth Hacking Tactics & Benefits

Growth Hacking TacticPurposeResult
Referral ProgramEncourage sharingOrganic user growth
Viral LoopsUsers bring usersScalable growth
A/B TestingImprove conversionsHigher sales
SEO Content MarketingLong-term trafficSustainable growth
Freemium ModelAttract usersHigher upgrades
Social ProofBuild trustBetter conversions
Retargeting AdsRe-engage visitorsIncreased ROI

How to Implement Growth Hacking Tactics Effectively

  • Track everything with analytics tools
  • Run small experiments before scaling
  • Focus on one core growth channel at a time
  • Analyze data weekly
  • Double down on what works

Growth hacking is not about random tactics — it’s about continuous testing and improvement.

Final Thoughts

Startups succeed when they combine creativity with data. The right growth hacking tactics can help you acquire users faster, reduce customer acquisition costs, and scale sustainably.

Instead of spending huge amounts on ads, focus on smart strategies like referral programs, viral loops, SEO, and product-led growth. Growth doesn’t always require big budgets — it requires smart execution.

Frequently Asked Questions (FAQ)

1. What are growth hacking tactics?

Growth hacking tactics are creative, low-cost strategies used by startups to grow quickly through experimentation and data-driven marketing.

2. Are growth hacking tactics suitable for small startups?

Yes, they are especially effective for startups with limited budgets because they focus on scalability and efficiency.

3. What is the most effective growth hacking tactic?

Referral programs and product-led growth are among the most powerful tactics, but effectiveness depends on the business model.

4. How long does growth hacking take to show results?

Some tactics show quick results (like paid retargeting), while SEO and content marketing may take months.

5. Is growth hacking different from digital marketing?

Yes. Growth hacking focuses more on rapid experimentation and scalable growth, while digital marketing includes broader branding strategies.

Tags: ,
Posted in Marketing, Startups | Comments Off on Top Growth Hacking Tactics Startups Use to Scale Fast

Avoiding Startup Mistakes New Business Founders Make

Friday, February 13th, 2026

Starting your first business is a rush. You’re building something from nothing, and every day feels like possibility.

But when new businesses don’t make it, it’s rarely because the idea was “bad.” It’s usually because the basics weren’t protected. The unglamorous stuff. The things that don’t feel urgent until they suddenly are.

This article is here to do one job: help you spot the predictable mistakes early, while they’re still easy (and cheap) to fix.

So Why Do New Businesses Fail?

A common myth is that it’s mostly a funding problem. Sometimes it is—but more often, the real issue is planning and follow-through.

New businesses tend to bleed money through avoidable gaps: unclear offers, messy cash flow, weak pricing, inconsistent operations, and decisions made on hope instead of numbers. That combination creates stress first, and financial damage second.

1. No Proper Market Research

The last thing a new business needs is a product that customers do not want. It is easy for new business owners to fall into the loop of emphasizing their idea over the idea’s merit in the market.

Before rushing to develop and launch a product, remember to:

  • Analyze demand
  • Identify actual issues
  • Study the competition
  • Speak to prospective customers
  • Conduct competitor research

2. Disregarding Cash Flow Management

Cash flow is the self-sustaining mechanism of a business.

For a firm to be successful, cash flow is essential — even for profitable companies. New founders often:

  • Spend too much money on branding and office space
  • Make too many hires too soon
  • Ignore operational expenses
  • Fail to track every single cost

It is wise to plan for at least 6–12 months of cash flow for the company.

3. Trying to Do Everything Alone

Many founders try to handle everything themselves. This leads to burnout and stalled growth.

You cannot be all of the following:

  • CEO
  • Marketer
  • Salesperson
  • Accountant
  • Developer

Build a small but effective team. Outsource functions when appropriate.

4. Weak Product-Market Fit

A frequent mistake made by startups is launching prematurely without adequate testing.

Your product must address a defined problem. If customers are not ready to pay, something is wrong.

Focus on:

  • Minimum Viable Product (MVP)
  • Customer insights
  • Iteration and improvement

5. Marketing Weakness

A product is guaranteed to fail without adequate marketing support. Founders often assume customers will automatically come.

In reality, you need:

  • Branding
  • Search Engine Optimization (SEO)
  • Social media presence
  • Paid social advertisements (if budget allows)
  • Email marketing

Marketing should start before the product is fully finished. It is not an afterthought.

6. Scaling Too Fast

Growth should be stepwise. Expanding too quickly is one of the most serious mistakes a startup can make.

If people, systems, and finances are not in place before scaling, the business becomes vulnerable to failure.

7. Ignoring Customer Feedback

If you ignore a customer complaint, you ignore valuable information.

Negative feedback should fuel growth.

Make customer input an ongoing process.

8. Obscure Business Model

Without a clear understanding of how the business will generate income, the venture is fundamentally unstable.

Your business model should clearly state:

  • Who are your target clients?
  • What problem are you solving?
  • How will you generate revenue?
  • How will you price your solution?

Wise Business Model Obstacles

Business ErrorWhy This Is DangerousWhat to Do to Avoid It
No Industry AnalysisThe service/product may failValidate the idea before launching
Poor Cash FlowThe business may shut downMonitor cash flow and plan reserves
Going SoloBurnout and slow developmentBuild or hire a team
Inadequate PromotionNo customersInvest in early marketing
Over-Aggressive GrowthOperational chaosScale gradually
Ignoring FeedbackProduct stagnationListen and improve continuously
Obscure Business ModelBusiness instabilityClarify revenue and pricing strategy

How to Avoid Obscure Business Plans

  • Ensure there is a viable market before investing significant time and money
  • Set strict spending limits in the early stages
  • Focus on solving one clear problem
  • Monitor metrics such as CAC (Customer Acquisition Cost), LTV (Lifetime Value), and conversion rates
  • Bring advisors and mentors into your network

Success in startups is less about luck and more about avoiding common mistakes.

Final Thoughts

Building a startup can be extremely difficult, but most failures are avoidable.

Preventing common startup mistakes reduces the chances of failure and increases the likelihood of success.

Keep in mind:

  • Start small
  • Validate often
  • Manage your cash carefully
  • Stay customer-focused
  • Control growth

Smart founders learn from their own mistakes — great founders learn from others’ mistakes.

Frequently Asked Questions (FAQ)

1. What are the most common startup mistakes?

Lack of market research, poor cash flow management, weak marketing strategy, and scaling too quickly are common mistakes.

2. Why do startups fail in the first year?

Startups typically fail due to low demand, poor financial management, and lack of product-market fit.

3. How can new founders avoid startup mistakes?

New founders can avoid mistakes by validating ideas early, managing finances properly, listening to customers, and building a strong team.

4. Is funding the main reason startups fail?

Not always. Many startups fail due to poor planning and execution rather than lack of funding.

5. What is the importance of marketing for startups?

Marketing is critical. No matter how strong a product is, it will fail without proper awareness and visibility.

Tags: , ,
Posted in Marketing, Startups | Comments Off on Avoiding Startup Mistakes New Business Founders Make

Digital, Robotic, and Data-Driven: Insights Into the Rapidly Changing Economy

Thursday, November 2nd, 2017

BDC has released a report with the six trends that small and medium sized business owners need to know about for 2017.

Three of these trends relate to the rapid rise of the digital economy.

It’s clear that digital technologies are changing the economy with automation, online markets, and by leveraging the power of data—but what can small businesses do in the face of these shifts?

The first trend to be aware of is the growth of virtual marketplaces. E-commerce is already growing rapidly in Canada, and it shows no signs of slowing down. BDC recommends that business owners build a cohesive online presence that reacts to and engages with its customers. This means social media, targeted ads that increase traffic, and mobile-friendly websites that appeal to customers who are reading reviews and shopping via their smartphones.

The second trend is the automation of business activities. Automation refers to robots and artificial intelligence, but it also includes other digital technologies that increase productivity like customer relationship management (CRM) and enterprise resource planning (ERP) systems.

Small businesses need to strategize for the future of automation now. This means involving your employees in choosing new technology systems, understanding your own knowledge limitations, and reaching out to third-party consultation if needed.

The third trend that will impact entrepreneurs and small business owners is the rise of the data economy. Vast quantities of data are amassed by companies in their everyday operations. Loyalty cards, for instance, track consumer behavior and preference. However, many businesses still do this data collection by hand, which is not only prone to error, but burdensome.

With a projected estimate of 75 billion devices connected to the Internet by 2025, businesses need to use data wisely to optimize their day-to-day operations. This means gathering data more efficiently, but also analyzing it to generate insights that will drive your business.

Tags:
Posted in Marketing, Technology | Comments Off on Digital, Robotic, and Data-Driven: Insights Into the Rapidly Changing Economy

What the Growth of Virtual Marketplaces Means for Small Business

Thursday, October 26th, 2017

To mark Small Business Week, BDC released a report that explores six trends impacting small and medium sized businesses in 2017.

One of these trends is a direct reflection of a hyper-connected business landscape: the growth of virtual marketplaces.

More and more Canadians are doing their commerce online, using their smartphones for retail transactions, and feeling empowered by the digital technology in their pockets. BDC forecasts that by 2020, over 25 million users in Canada will be using e-commerce (compared to 18 million in 2016), which means e-commerce capability will become even more crucial for small businesses.

With more information, online reviews, and borderless buying available to consumers than ever before, businesses need to adapt to the rise of virtual marketplaces.

One way small businesses can remain competitive is by building a digital ecosystem. This means personalizing your company’s online presence, making your website mobile friendly, and integrating e-commerce capabilities with your social media platforms.

That also means thinking about local intent—because a customer rarely searches something generic like “web design.” They search the way they talk, like “web design Little Rock,” and they expect the results to feel local, fast, and trustworthy on mobile.

Successful social media engagement is not about aggressive marketing, but about the power of suggestion and the “soft sell.” Become aware of what’s being said about your company in the digital space, and then engage with your customers regularly.

You can also raise awareness of your services or products through Facebook ads or Google Ads.

Learn more: Want to post consistently without spending hours writing? Try an Instagram content generator.

Remember that a crucial part of building a virtual marketplace is listening to your customers and responding to their feedback—whether face-to-face or via 140 characters, you need to hear what the consumer is saying.

Tags:
Posted in Marketing, Technology | Comments Off on What the Growth of Virtual Marketplaces Means for Small Business

Social Capital: The Currency of Networking

Tuesday, July 4th, 2017

Social capital and social proof are the currencies of networking and the glue that binds meaningful relationships.

If you don’t know what these are, how they work and how to increase your share of both, you are missing key opportunities to successfully build your network.

What is Social Capital?

Social capital is what we use every time we ask someone for something.

In the startup world, you’re typically going to ask for a connection to someone you do not know. For example, when a founder asks me to make an introduction to a VC (let’s call her Jane), I need to use some of my social capital with Jane to facilitate that introduction. 

This only works if I have pre-existing social capital in the bank with Jane. I need to know her or have interacted with her before. Otherwise, she has little reason to accept an introduction. The deeper my connection with Jane, the more of a trusted source I am for her and the more likely she will read my email and consider my ask.

What is Social Proof?

Now, social proof is when an introduction reciprocates value back to the person you are reaching out to with a request. In my example, I have to ensure the person I introduce Jane to is a valuable match for Jane herself.

Nine times out of 10 people that ask me for an introduction get it wrong. They assume this exchange is about what they will get out of it. For example, they want Jane’s experience, knowledge, money or access to their network. Generally, these are not reasons why Jane — or anyone — would accept a meeting. There must be value in it for the person you are introducing someone to as well as the person asking for the introduction.

How to Ensure You’re Creating Social Value

The goal of any introduction is to provide value to the person you’re asking something from. In my example, it must be clear why Jane would benefit from a meeting with my other contact.

The following are a few examples of potential value offered back to a Jane — aka providing social proof:

  • If your contact’s product would significantly enhance Jane’s company’s profit or efficiency.  
  • If it is a technology that Jane isn’t using but has proven traction in the market.
  • If Jane is professionally interested in what the contact is working on (she tweets about it or write blog posts on the topic).

How it Comes Together

When the introduction successfully provides value to Jane, after I’ve used my social capital and provided social proof, this now equates to more social capital in my bank for future use. A win-win for all involved.

On the other hand, if the introduction wasn’t a good one, which could happen for many reasons such as improper fit, the alignment was completely off, or the founder was ill prepared and wasted Jane’s time, then I will lose significant social capital and risk not being able to use that connection again.

Often times people will give you one pass for a bad intro, but usually not two.

So, if you’re asking someone to go out on a limb for you make sure you do your homework and provide value in return for that person doing you a favor.

Not only will it increase your chances of success exponentially, it will provide for the best possible outcome — more social capital in the bank and value for the person offering their time.

 

Tags: , , , , , ,
Posted in Marketing, Profiles, Startups | Comments Off on Social Capital: The Currency of Networking

Toronto Women’s Entrepreneurship Forum: Space for Radical Generosity

Thursday, June 1st, 2017

The Toronto Women’s Entrepreneurship Forum 2017 took a disruptive approach to the entrepreneurial conference model. Instead of talking heads doling out advice, #TWEF17 was about women entrepreneurs entering into a conversation.

SheEO founder Vicki Saunders has a direct explanation for #TWEF17’s invigorating approach. “Why repeat old approaches in a completely disrupted world? It’s time for new approaches, from large-scale economic ones to even in the way we run conferences. We’re creating an open, generous environment, one that isn’t telling entrepreneurs what they need to do: it’s building a conversation.”

Part of that conversation was the remarkable mid-conference #RadicalGenerosity session, where women entrepreneurs approached the mic to explain what their enterprise needed: And hands all over the room shot up to offer the exact help that each speaker was asking for.

“At most conferences, you’ve got the experts onstage, and then someone in the audience asks a question or makes a point that resonates perfectly with you—then you never get a chance to speak to that person,” says Saunders. “Our #RadicalGenerosity session addresses that. We find that female entrepreneurs often keep their businesses smaller because they don’t ask for help, they don’t put themselves out there.” The session (and SheEO’s upcoming app) creates a safe space for contact between women who can help each other.

The standing-room only success of the event points to another exciting aspect of Toronto Women’s Entrepreneurship Forum 2017: the city itself. “Toronto right now is so exciting for entrepreneurs,” says Saunders. “It’s a city that gives you permission to get out there and go for it. And for women entrepreneurs, who start businesses at twice the pace of men, we’re saying that there’s no need to replicate what guys are doing: what women are doing is working.”

Posted in Marketing, Profiles, Technology | Comments Off on Toronto Women’s Entrepreneurship Forum: Space for Radical Generosity

3 Must-Dos After A Conference

Wednesday, April 5th, 2017

How do I know I’ve attended a quality conference? I leave energized, inspired and with a stack of business cards.

At most conferences I meet fantastic people and am inspired by a ton of fresh ideas and endless possibilities. I walk away with a long list of practical suggestions and some game changing strategies, and then reality hits:  

  • I am days behind on emails
  • I have a pile of new contacts with varying degrees of value
  • I have ignored colleagues, projects and life in general

So I hurry back to my office and before I know it, I’m back on the hamster wheel.

Sound familiar?

Recently after leaving a two-day conference, I realized this had to change. Almost all the value from a conference was lost because I didn’t have a moment to thoughtfully plan how to apply my new-found knowledge. I decided that I either had to stop spending money on conferences only to discard the learnings, or do something different that made the conference worth my time and money.

I decided to do something different and it’s working. Here are my tips for acting differently the next time you re-enter reality after a conference.

Starting with the obvious, you should do things, like:

  • Connect on LinkedIn (take 30 seconds for a personal message)
  • Send an email that says ‘great to meet you’ within 48 hours
  • Follow up with anything you promised a new contact, like web links, an introduction, meeting time, etc.
  • If a new contact really impressed you, mail them a personal, handwritten thank you card. No better way to stand out in a noisy online world.

But to upgrade your conference experience, I challenge you to try these three not-so-obvious must-do’s after an event.

  1. Set aside 20 minutes to use the new insights you’ve learned
    For me, the best time to do this is shortly after I leave — usually on the flight home. I set an alarm for 20 minutes and reflect on the key insights so I can organize my thoughts. I think about how I can bring the inspirations and tactical ideas back to my team. Your company can benefit from your conference experience by taking time to thoughtfully bring back new strategies for consideration.
  1. Make the first move
    If you’ve done a conference right, you’ve left with a healthy number of business cards, new LinkedIn connections, and Twitter, Instagram or Facebook followers. But let’s face it, not everyone adds the same value to you or your business moving forward.For those that can, devise a plan to stay in touch. For example:

    • Is there an event that you could invite them to speak at?
    • Is there information you could share, such as industry trends or hot new startups?
    • If you’re interested in what they are building, then consider being more actively engaged on social channels

When reaching out in today’s social media world, remember to use tools and platforms that are easily accessible and give you the best chance to stand out.

  1. Commit to changing one thing for the better
    We learn more than tactical skills from a conference. We learn how to be human. I once heard a CEO of a large company say on stage that during an elevator ride he asks employees what project they are working on. It gives the employee time to share (and shine) and provides insights he might not normally receive. This small change in behavior can make you a better manager, CEO or leader. If you listen for the non-tactical messages and commit to applying one, you could benefit in ways that will surprise you — and your team.

For me, the best conferences are the ones where I feel I’ve made meaningful connections and applied the messages I heard on stage to my personal and professional life. It really begins with taking 20 minutes on your way back to reality and then taking action.

Tags: , , , , ,
Posted in Features, Highlighted, Marketing, Profiles, Technology | Comments Off on 3 Must-Dos After A Conference

Explained: The Mechanics of Color for Developers

Monday, November 21st, 2016

Color is an important part of online identity and web development, as you can see from Paul Hebert Designs’ graphic, The Colors Used by the Ten Most Popular Sites.

It’s important to remember that when displayed on a monitor, color is additive. This means that mixing multiple colors together will create white, explains Sarah Drasner in A Nerd’s Guide to Color on the Web.

Two different ways of expressing additive color are:

  1. RGB (Red, Green and Blue): Mixing the three can be used to create all colors. This is expressed in hexadecimal with one byte for each color: RRGGBB. For example, the hexadecimal for techPORTFOLIO red is #FF5145.
  1. HSL (Hue, Saturation and Lightness): Hue is on a 360° scale, saturation is the strength of a color, and lightness is proximity to white.

https://www.instagram.com/p/BIoAWK9A6D4/

“A color is only a color in reference to another color,” says Drasner. Yellow text is easy to see against a black background, but not against a white one.

Some tools you can use to measure visibility include Colorable and Contrast-A.

For more tips on color and how to manipulate it, check out the guide from CSS-Tricks.

Tags: ,
Posted in Marketing, Startups, Technology | Comments Off on Explained: The Mechanics of Color for Developers

Ryerson DMZ Launches Advisory Council for Startups

Wednesday, September 28th, 2016

Ryerson University’s startup incubator DMZ has launched an advisory council to support the Canadian startup and entrepreneurial ecosystem.

The 18-person council was handpicked from over 500 applicants and includes: Kirstine Stewart, former Head of Media at Twitter Canada, Yung Wu, Managing Director of NFQ Ventures, and Dino Trevisani, President, IBM Canada

The goal of the council is to “increase visibility for Canadian entrepreneurs, and to develop new approaches to fuel the success of Canadian innovators,” according to a DMZ press release about the initiative.

“The DMZ’s advisory council will play an important role in finding strategic and innovative approaches that will strengthen the DMZ’s position as a hub in the innovation economy,” says Mohamed Lachemi, president and vice-chancellor at Ryerson University.

“The council will also better forecast the needs of the startup community and find solutions that will be supported by some of the leading minds in business and technology,” he says.  

The first order of business for the advisory council is to create a bootcamp-style program to help new startup owners learn hard and soft skills needed to accelerate their success or failure in the first six months.

Beyond that, the advisory council will develop a collaboration agenda for Canada’s startups to bring together technology hubs nationwide and align with Canada’s innovation agenda.  

The Advisory Council members are:

  • Nadir Mohamed, (DMZ Advisory Council Chairman), Chairman, ScaleUP Ventures
  • John Albright, Managing Partner, Relay Ventures
  • Peter Bowie, Independent Director, former CEO of Deloitte China
  • Barry K. Columb, President & CEO, President’s Choice Financial
  • Bruce Croxon, Partner, Round 13 Capital
  • Maggie Fox, former Global Senior Vice President, Digital, SAP
  • Sabrina Geremia, Managing Director, Integrated Solutions Google
  • Nazmin Gupta, Chief Marketing Officer, Greystone Managed Investments Inc.
  • Anthony Lacavera, Founder and Chairman, Globalive Capital
  • Andrew Macdonald, Regional General Manager, APAC and Latin America, Uber
  • Kevin O’Brien, Chief Client Officer, Aeroplan at Aimia
  • Priya Patil, Corporate Director
  • Anoop Prakash, Managing Director, Harley-Davidson Canada
  • Michael Rossi, President, Adidas Group Canada
  • Kirstine Stewart, Chief Strategy Officer, Diply GoViral
  • Dino Trevisani, President, IBM Canada
  • Yung Wu, Managing Director, NFQ Ventures
  • David Walmsley, Editor in Chief, The Globe and Mail
  • Mohamed Lachemi, President and Vice-Chancellor, Ryerson University
  • Abdullah Snobar, Executive Director, DMZ at Ryerson University

Tags: , , ,
Posted in IBM, Marketing, Technology | Comments Off on Ryerson DMZ Launches Advisory Council for Startups

Mega Hackathon Hack the North is Underway

Friday, September 16th, 2016

Baristas, therapy dogs, and 2:00 am workshops about CockroachDB. 

Welcome to Hack the North, the student hackathon that offers users the chance to develop with VR and wearable technology and has produced at least one commercially viable startup.

It’s happening this weekend at the University of Waterloo Engineering School, and developers from across Canada and the world are attending:

Hack the North claims to be Canada’s premier hackathon with over 1,000 participants. It runs continuously for 36 hours from Friday evening to Sunday morning. Industry leaders from 500px and Y Combinator will be on hand.

For tired coders up all night, there are many opportunities for screen breaks: Morning yoga on Saturday, and a chance to cuddle with therapy dogs.

The sleep-deprived can also attend talks on topics such as Node.js and Cockroach DB, as well as soft skills such as team formation and ideation.

One of the 2014 winners of Hack the North was Eric Dolan, founder of Neutun Labs — a startup that develops seizure-tracking technology.

Dolan’s winning 2014 project, Pebilepsy, was based off data tracking and wearable devices, as it allowed users’ Pebble smartwatches to track their epilepsy symptoms. Neutun Labs is derived from this technology, and has since been accepted into 500 Startups.

“We’ve made continuous efforts to bring opportunities to students they wouldn’t have elsewhere,” said Ashna Mankotia, Co-Marketing Director at Hack the North. “For example, bringing ‘Y Combinator Office Hours’ to Hack the North in 2015 and again this year.

“Hackers have the rare opportunity to have one-on-one meetings with some of the most connected people in the industry.”

Check back later for more details about the winners.

Tags: , , ,
Posted in Marketing | Comments Off on Mega Hackathon Hack the North is Underway

VIDEO: IBM’s Ontario Research Consortium Partnership

Tuesday, May 24th, 2016

IBM provided a $200+ million “sandbox” and access to the country’s biggest supercomputer, along with an abundance of analytical tools as the company’s contribution to Southern Ontario Smart Computing Innovation Platform (SOSCIP), a research and development consortium that now includes 14 universities and 2 colleges.

The result? The partnership has generated $2 billion in pipeline revenue by helping university researchers and startups get to market.

This innovation model, facilitating collaboration between IBM, academic institutions, Ontario Centre of Excellence, and SMEs aims to help establish Ontario as a leading global centre for driving innovation in information technology, health, and urban infrastructure (water, energy, transportation).

By partnering with private enterprise, academic institutions can leverage cutting-edge technology and experience.

Tags: ,
Posted in Highlighted, IBM, Marketing, Startups, Technology | Comments Off on VIDEO: IBM’s Ontario Research Consortium Partnership

Choosing the Wrong Accelerator Can Get You Nowhere Fast

Wednesday, May 18th, 2016

Accelerators can put startups on a fast track towards growth-stage success, but founders shouldn’t be tempted to apply to a program simply on the basis of acceptance chances. Geography, funding, office space, and mentorship availability are all important, and there are still other factors to keep in mind.

We asked interviewees during our launch week about what’s most crucial for startup founders considering accelerators.

“It is very important to get the right accelerator based on the product that you have,” says Amir Azhari, President and COO of AOMS Technologies, a startup focused on fibre optic sensors for extreme environments such as oil and natural gas wells. The first accelerator he tried, which focused on software and app development, wasn’t meeting his needs.

techPortfolio_Quote_May_17

Azhari joined the RIC Centre, in Mississauga, Ontario, Canada, which he says worked better because of its manufacturing focus.“[They] introduced us to different potential investors who might be interested in our technology,” he says.

Sonia Strimban, Manager of Venture Operations at the MaRS Discovery District in Toronto, adds that accelerators help avoid isolation. “There’s a compounding network effect. If you’re not part, you’re missing out in introductions and meetings with potential investors. You have to be part of the community to receive the exponential effects of the momentum.”

Matt Roberts, associate director at the Business Development Bank of Canada’s IT Venture Fund, agrees that accelerators provide an important role, particularly with filling missing skills in your initial team. “They’re more often than not providing advice and feedback to allow founders to do some of that early sales and marketing themselves, or giving them advice and connections to make the first hires they need.”

But perhaps the best value you can get out of an accelerator is working with those already established. According to Strimban: “Founders like to learn from each other. There’s an element of trust they have with other entrepreneurs… It’s invaluable knowledge that will save you so much time and effort if you can benefit from the experience of others.”

Tags: ,
Posted in Funding, Marketing, Startups | Comments Off on Choosing the Wrong Accelerator Can Get You Nowhere Fast

Why Canada’s Tech Scene is Worth Getting Excited About

Tuesday, May 10th, 2016

Editor’s Note: This piece was re-printed from a LinkedIn Pulse item with permission from the writer, Jeff Booth, who is Co-Founder, President and CEO of BuildDirect.

Earlier this year, Microsoft added its fourth development office to downtown Vancouver, joining a who’s who of U.S. tech names that have set up shop in Vancouver in recent years, including Amazon.com, Salesforce.com and Facebook.

It’s tempting to say the city is blossoming into Silicon Valley North but, to truly earn that title, Vancouver — or any other Canadian city for that matter — must build its own ecosystem of successful, home-grown tech companies. In fact, we’ll know Vancouver has made it when tech companies from here are setting up outposts in other places.

Of late, it’s become fashionable to point out all the reasons this will never happen. Canadian tech naysayers point to troubles finding experienced senior management, a shortage of funding and a university system not pumping out enough research and engineering talent as reasons Canada will never compete with hubs like California and Washington. Some of those critiques are valid, but do they predict the future or do they just describe the present?

techPortfolio_Quote_May_10

Early on when building BuildDirect, I was asked to sit on a Conference Board of Canada roundtable on boosting tech innovation, comprised of leaders in industry, academia and government. Although the group was set up to help Canada win, the discussion always felt like an endless circle of laments: why entrepreneurs sell out too early, why Canada doesn’t celebrate our successes, etc. What frustrated me most was it seemed everyone got it backwards.

It’s the entrepreneur who starts the whole cycle by having a vision bigger than himself and carrying it out. That act, the vision of a different future, is what creates the value that attracts the rest of the ecosystem.

The reality is these are early days for aspiring technology centres like Vancouver, Toronto or Waterloo. It’s easy to look to established ecosystems and see countless shortcomings in comparison: there isn’t a giant anchor company like Google to spin off ideas and talent; soaring housing prices and border bureaucracy sway top talent from moving; start-up capital can be in short supply.

But that’s a near-sighted approach. Looking at the bigger picture, Vancouver and other Canadian cities hold enormous promise and advantages even Silicon Valley didn’t have in its infancy. We should be looking to leverage those advantages instead of wallowing in our shortcomings. The more apt comparison for Vancouver isn’t the Seattle or Northern California hubs of today, but where those centres were at their beginnings.

From Prunes to Electronics

A century ago, the Santa Clara Valley’s export specialty was a plum variety that could be processed into prunes. In fact, it wasn’t until 1971 when the Silicon Valley moniker was first used. The area’s technology industry began with World War II-era government investment into radar and electronics research at Stanford University. More government money flowed throughout the Cold War to the Valley and to Massachusetts’ Route 128, fostering the growth of now-famous companies like Hewlett-Packard and Xerox PARC. Seattle’s smaller hub was built around companies like Boeing.

Often overlooked is the fact that Silicon Valley’s tech sector didn’t overtake Massachusetts in profits and innovation until the 1980s — proving that a smaller, weaker player can grow and win. Even then its economic output was a fraction of what it is now. It’s easy to see the economic powerhouse that Silicon Valley has become, but it’s worth remembering the long road it took to get there and the many failed companies it left along the way. The vibrant ecosystem we see now is a byproduct of those struggles.

It’s also important to point out the role that determined, focused individuals played in these early histories, when success was anything but a surefire bet. Silicon Valley literally began in a Palo Alto garage rented by Stanford University graduates Bill Hewlett and Dave Packard, who started the Hewlett-Packard Company in 1939 with $538 in working capital and a used Sears Craftsman drill press.

Elon Musk, Stewart Butterfield

Canada does not lack people with great ideas and grand vision. It’s often overlooked that one of the most esteemed innovators of the 21st century, Elon Musk – the mind behind PayPal, SpaceX and Tesla – is a Canadian citizen and attended Queen’s University in Kingston before ultimately moving to the U.S. Vancouverite Stewart Butterfield created the original photo-sharing site Flickr in the mid 2000s and went on to build the office social platform Slack, now headquartered in San Francisco and valued around $4 billion.

At the same time, dedicated entrepreneurs can achieve great success within Vancouver’s ecosystem, and help the ecosystem as a whole flourish. This is the difficult path that Silicon Valley’s founders took, and that local companies like D-Wave Systems, Hootsuite, Shoes.com, Mobify and my own company are committed to taking. We might have reached a steeper growth trajectory by moving to the U.S., but wanted to build something great here.

Yes, there’s room for improvement on a variety of fronts north of the border. We need to ramp up investments in education, loosen red tape for importing talent and build up our funding infrastructure. But true entrepreneurs see opportunities where others see problems. They go where everybody isn’t.

In that sense, there are more opportunities in Vancouver in 2016 than in the Silicon Valley of today, precisely because not everybody has seen them. Investment opportunities here are under-exploited compared to the sky-high valuations seen in more prominent centres, a fact that many of smartest (and best funded) VCs are clueing into, bringing new sources of funding to the city. Not all home-grown companies will succeed, but some will — and the payoff is going to be more than just money.

Self-sustaining Engine

We’ve seen that building a technology hub takes time, resources, and innovation, but those investments combine to create a self-sustaining engine for economic growth and advancement. The sum is far greater than the parts.

Vancouver is a young ecosystem, but it’s a closely knit community whose leaders reach out and support one another. It can achieve greatness if it holds to the kind of faith that built Silicon Valley from its humble start. And the same goes for Waterloo, Toronto and the other emerging and established tech hubs in Canada. The potential is, in fact, enormous, if we can see beyond the early hurdles.

There will always be shouts from the sidelines from people who say things can’t be done. But, to borrow a line from Teddy Roosevelt, the credit belongs with he who “spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly.” This may seem melodramatic, but for entrepreneurs dedicated to building a tech ecosystem in Canada, business is truly more than just business. This is a project fueled as much by passion as by profit, and one that promises extraordinary things in the years ahead.

Tags: ,
Posted in Funding, Highlighted, Marketing | Comments Off on Why Canada’s Tech Scene is Worth Getting Excited About

Toronto is a Cockroach Nest

Sunday, May 1st, 2016

The University of Toronto and RBC recently announced ONRamp, an initiative that will include a startup incubator meant to help entrepreneurs network with investors and each other. ONRamp’s RBC Innovation Hub is the newest among many multilaterally funded programs meant to help startups in a city endowed with world-class academic and financial resources.  

Toronto distinguishes itself as Canada’s financial center, the fourth-largest metropolis in North America, and its namesake university ranks in the world’s top-20. Toronto is also one of the most ethnically diverse cities in the world, a metric that McKinsey & Co. says supports corporate success.

So where are the Toronto-bred unicorns?

techPortfolio_Serbinis_Quote_May_2_1

Ranked 17 in the 2015 Global Startup Ecosystem Report by Compass, Toronto has yet to produce a pre-IPO company valued at $1 billion or more. There’s no unicorn pasture in Toronto; it’s more of a “cockroach” nest. But given the shift away from frenzied VC funding of any startup that grew its user base, this might be a good thing.

Toronto’s Flixel exemplifies the cockroach, a moniker for startups that prioritize revenues over users when it comes to growth. Others include UberFlip and Wattpad. The city has also produced a number of reputable exits, including Kobo, which was bought by Japan’s Ratuken for $315 million, XE.com, and VerticalScope.

“It’s about shots on net, and muscling the good shots through i.e. you need a healthy number of seed/A stage companies, and when it comes to scaling you need growth capital,” says Kobo’s founder Michael Serbinis. “Toronto-Waterloo has the former now, but there are few funds here that can write big, later stage cheques.”

Serbinis currently serves as board director for the Toronto-based MaRS Discovery District, an innovation hub that connects startups with investors and corporations and is a founder of LEAGUE, a personal health management platform.

Endangered Species

If VC funding in the first quarter of 2016 is any indication of what’s in store for startups this year, unicorns are becoming an endangered species. KPMG’s latest Venture Pulse report noted that the first quarter of 2016 saw $25.5 billion invested across 1,829 deals, marking the second-straight quarter in which investors dialed back VC funding and activity.

Only 5 new unicorns were minted world-wide in the first quarter of 2016. By comparison, the fourth quarter of 2015 produced 13, while the second and third quarter each produced 25.

techPortfolio_Quote_April_29_1 (2)

Mark Skapinker, co-founder and managing partner at  Brightspark Ventures, says: “If you look at locations outside of Silicon Valley that have had huge successful companies, it is quite devastating to the surrounding market if they fail at a later stage [like] Nortel in Ottawa, Nokia in Sweden, Blackberry in Waterloo. So, having a unicorn is not always amazing for a city.”

The tougher funding environment will play to Canada’s strengths. The country’s banking system withstood the global financial crisis that began in 2008 while U.S. financial institutions went bust or survived on government support. However, the robust regulatory regime that kept Canada strong throughout the turmoil is a reflection of the conservatism that makes it difficult for all but the most self-sufficient startups – cockroaches, in other words – to get funded.

“Toronto does have a number of cockroach-type companies,” Skapinker said. “It is much harder to get funded in Toronto than somewhere like Silicon Valley and we have a [startup financing] infrastructure that is not very ‘robust’ so companies need to work much harder and be ready for hard times at every stage. That makes them ‘cockroach’ like.”

 

Tags: , , , , ,
Posted in Features, Funding, Marketing, Startups | Comments Off on Toronto is a Cockroach Nest

Shopify Takes Vacant BlackBerry Throne—And What’s Next for Ontario

Thursday, March 31st, 2016

Analysts tempered their expectations in early 2015 when Shopify announced an IPO to raise $100 million. At the time, the e-commerce software company had 165,000 clients ranging from press-on tattoo retailer Tattly to Tesla Motors. If share prices held during the IPO and Shopify retained its $713 million valuation, the offering would be deemed a success.

After the implosion of Nortel and the missteps of BlackBerry, Canada wasn’t exactly a symbol of tech success. Ottawa-based Shopify’s IPO offered a chance to restore some faith in the country’s innovation capability. A free-fall in the price of oil, which was about wipe out tens of thousands of jobs in the energy sector, raised the stakes even higher.

Shopify’s valuation didn’t just hold, share price soared. By the time the IPO was over, the company was valued at $1.9 billion — more than double initial expectations.

Success stories like Shopify underscore the importance of Ontario’s startup ecosystems of Kitchener-Waterloo, Ottawa, and Toronto to the economic growth and innovation of the province and nation. They generate wealth and attract foreign investment.

In 2015, Canadian venture capital investments hit a 10-year high thanks to 536 deals totalling $2.3 billion (Canadian). Of that amount, $1.25 billion was invested in Ontario, according to the Ministry of Research and Innovation.

Direct Economic Returns and Job Creation

Ontario tech ecosystems also provide significant, direct economic returns and spur job creation. According to the Kauffman report, The Importance of Young Firms for Economic Growth, new businesses account for 20% of gross job creation in the U.S., while research findings from Nesta in the U.K. indicate that 6% of young, high-growth firms create half of all jobs in that country.

These patterns align with the economic impact seen in Ontario, as noted by the Ministry. Within the Ontario Network of Entrepreneurs (ONE), 5,899 new jobs were created and an additional 8,970 jobs/year were retained over the last two years. Furthermore, through the risk capital programs currently in place, the ministry expects a return of $10 for every dollar invested.

While startups make substantial contributions to Ontario’s economy, the province also has much to offer tech startups. Software engineers making less than half of what their Silicon Valley counterparts do are abundant, and this will help keep the operating costs of startups down.

Cultural diversity within the province brings different perspectives and skill sets to the table. Federal and provincial R&D tax credits are generous – a company spending $210,000 (Canadian) on R&D could receive a refund of $135,000 in investment tax credits.

Given the increasing desire by the national government to support Canadian tech, and the province’s recent investment in the IBM Innovation Incubator Initiative, the Kitchener-Waterloo, Ottawa, and Toronto tech ecosystems may improve their global clout.

While tech companies are spread out throughout the province, clusters of high-performing startups exist within the Kitchener-Waterloo, Ottawa, and Toronto areas. These regions are producing internationally recognized tech companies with high valuations other than Shopify, including Freshbooks, Open Text, Kik Interactive, and Wattpad.

The characteristics of Ontario’s main tech ecosystems, and their respective economic impacts, are outlined below.

Kitchener-Waterloo:

Shopify was not the only Canadian tech company in the spotlight in 2015. Kitchener-Waterloo’s Kik secured unicorn status, and is one of two Canadian companies currently holding that title. Altogether, the Kitchener-Waterloo ecosystem has produced 1,845 new tech startups, thanks to the era ushered into the region by BlackBerry.

Communitech, an innovation centre, home to 1,000 startups, was co-founded by regional entrepreneurs including Jim Balsillie, former of CEO of RIM, the makers of BlackBerry. Today, BlackBerry’s former employees fill the workspaces of the region’s most successful tech startups including D2L and Freshbooks.

From 2014 to 2015, financing in Kitchener-Waterloo grew 97%, compared to the Canadian average of 5%. Although Kitchener-Waterloo is no longer considered a top 20 tech ecosystem, its drop from the ranking follows the removal of “startup output per capita” as a performance metric, not poor performance. It retains a growth index of 2.45, higher than half of the world’s top 20 ecosystems.

A 2013 PriceWaterhouseCoopers survey attributes more than 20,000 jobs to tech companies located in Kitchener-Waterloo. One of the biggest components of its success is the University of Waterloo, which accounts for $2.614 billion (Canadian) in annual “economic impact,” according to the study. The university’s comprehensive co-op program churns out top entrepreneurs and engineers sought by Silicon Valley’s tech giants, and its incubator, Velocity, has contributed to the success of startups like Kik and Vidyard.

Despite its impressive overall performance, a number of factors prevent Kitchener-Waterloo from fulfilling its potential. Techvibes notes that startups in the region raise a quarter of the funding received by their U.S. counterparts, and are four times less likely to obtain financing. In Silicon Valley, the bulk of angel investors are former startup CEOs who reinvest in the ecosystem.

In the Kitchener-Waterloo region, only 20% of former CEOs are investing in 80% of the companies, suggesting that an underlying fear of failure is hampering the region’s success.

In addition, its small size and relative isolation from Toronto is preventing the region’s startups from connecting with funding and resources. Infrequent, one-way trains hinder easy transit between Kitchener-Waterloo and Toronto, and a high-speed rail initiative connecting the two tech ecosystems will take 10 years to build and cost $2-3 billion (Canadian).

By contrast, Slovakia has entered discussions with Hyperloop Transportation Technologies to build a high-tech train that will carry passengers from Bratislava and Vienna or Budapest in 10 minutes or less for $200-300 million by 2020.

Ottawa:

Shopify’s success has revived some of the recognition that Canada’s capital city once received as a tech ecosystem, and the area buzzes with hopes of potential IPOs in the coming years. Ottawa hosts 1,700 tech companies, ranging from startups such as Series B, funded Kilpfolio, as well as being the location for the regional offices of multinationals including Apple and Facebook.

Ottawa also has the highest concentration of science and engineering employment in North America, outside of Silicon Valley, perhaps due to the numerous multinationals that also make Ottawa their Canadian headquarters, including IBM, Cisco, and Ericsson.

The Conference Board of Canada estimates Ottawa’s tech industry enjoyed a robust 8% annual growth over the past 5 years, higher than the global annual tech market growth rates. Aside from Shopify, its most notable and successful startup, Ottawa companies brought in upwards of $100 million (Canadian) in VC financing in 2015, including Corsa Technology, GaN Systems and You.i TV.

While the Ottawa tech ecosystem has experienced a recent bout of success, it still has a long way to go. Ottawa enjoyed its ‘Silicon Valley of the North’ status for number of years with notable examples including Nortel.

When the dotcom bubble burst in 2000, Ottawa’s pedigree fell. To date, there are no direct flights from Ottawa to San Francisco, an unnecessary obstacle between startups and Silicon Valley VCs. During the 2000s, Ottawa experienced dozens of venture-backed startup failures and former giant tech companies were either downsized, sold off, or disappeared.

For the most part, recovery has been slow and bootstrapped. If Ottawa wants to regain its global status in the sector, it needs to capitalize on recent success by pursuing venture capital both within and outside the city. At the very least, it needs a direct flight to San Francisco.

Toronto:

According to the 2015 Global Startup Ecosystem Ranking report, Toronto ranks 17th among the top 20 global tech ecosystems, the highest of any Canadian city. Canada’s most- (and North America’s fourth most-) populous city hosts between 2,500 to 4,000 active tech startups, with notable examples including Nymi and Chematria.

Efforts to cluster startups in the downtown core are underway. Increased support for incubators and accelerators such as Ryerson DMZ, home to IBM’s Bluemix Garage, has created 1,833 jobs. Foreign investments, driven by the elimination of taxes on capital gains, are bringing more money into the province. In 2015, Toronto saw a 30% increase in total venture deals from 2014. These are all signals that the city’s tech ecosystem is headed in the right direction.

However, unlike Kitchener-Waterloo and Ottawa, Toronto has yet to produce a unicorn. Despite efforts to cluster startups, tech companies are still dispersed throughout the city and its surrounding suburbs. An underdeveloped transit infrastructure is seen as an obstacle.

Unlike other global tech ecosystems such as Tel Aviv, Toronto lacks founders with hypergrowth-company experience, an important factor in scaling up. Toronto dropped 9 spots in the 2015 Global Startup Ecosystem Ranking report, largely due to a slow growth rate, which lagged behind Berlin, Sao Paulo and Bangalore, among others.

Support for billion-dollar companies:

In the near future, the current decline of the Canadian dollar could make Ontario’s tech ecosystems more lucrative in the eyes of foreign investors who contributed $591 million in venture capital in 2015, as reported by the Research and Innovation Ministry. Disruptive tech startups in emerging industries such as fintech, connected cars, artificial intelligence, IoT, and smart city technologies will have a critical economic impact in the next 5 to 10 years.

In response, Canada’s federal government has identified the need to attract large corporations to participate in incubators and accelerators as one of six key priorities to ensure Canadian tech startups become billion dollar companies. This could translate into more strategic partnerships that would yield benefits experienced in other global tech ecosystems, such as Singapore.

There’s one wildcard for the health of Ontario tech innovation: how the province’s basic income pilot program could impact startups and entrepreneurs.

In the meantime, Ontario’s entrepreneurs face the same headwinds hitting those in the U.S. and elsewhere in terms of funding. The volume of venture capital investment in North America dropped off sharply in the last quarter of 2015. A joint report released by KPMG International and CB Insights pointed out that a number of IPOs fell short of expectations. It also stated,“VC investors could be less willing to invest in innovative companies without a far stronger business case for how their new business models should create profit over the longer term.”

Tags: , , , ,
Posted in Focus, IBM, Marketing, Startups | Comments Off on Shopify Takes Vacant BlackBerry Throne—And What’s Next for Ontario