In the startup world, connections matter. And in Ontario, one key connection for entrepreneurs is university.
Early results from an ongoing survey by MaRS Discovery District and Endeavor Insight show that educational institutions are the strongest connecting hubs in Ontario’s entrepreneurial networks.
Why Map Who Knows Whom?
Most measures of a startup scene count things: how many companies were founded, how much venture capital was raised, how many exits there were. Those numbers say how big an ecosystem is, but not how it works.
Network mapping asks a different question. It looks at the relationships between founders, mentors, investors, universities and support organizations, and at who helped whom get started. The idea is that a scene where people are well connected passes on knowledge, money and talent faster than one where everyone works alone.
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The survey is still live and taking responses, however, it’s clear that “many entrepreneurs appear to have attended multiple universities, likely one for their undergraduate degree and others for postgraduate studies,” says the MaRS Blog.
This is a map of the connections between entrepreneurs and universities:
The same first look at the data found that 24 universities sat at the centre of the largest connected group in the data, which at that point linked 359 people and organizations through 371 relationships.
Part of a Global Project
The ongoing survey is part of a project managed by the Global Entrepreneur Research Network that aims to map startup ecosystem connections in 100 cities in the next 5 years.
Endeavor Insight, MaRS and the UK innovation foundation Nesta were the original members behind that mapping effort, with the goal of building the first large set of ecosystem maps that could be compared city to city.
While previous surveys have focused only on cities, such as NYC and Cairo, this is the first to plot connections over a wide area, like Ontario.
MaRS is using this relationship data to inform best practices in startup mentoring, and will try to replicate the most important and valuable connections for its startups.
The research team says “in the current data, only 0.1% of the connections that could exist in the ecosystem actually exist.” To make sure they have the full picture, they have extended the deadline to complete the survey to the end of December.
Full results, including an interactive map covering the whole of Ontario, will be released by March 2017.
Click here to take the survey and add to the network. When results come out, you will be able to zoom in to see your own place in the ecosystem.
What the Survey Found
The survey closed after running in Ontario from August to December 2016, and MaRS later published the Connected Entrepreneur results. After cleaning, the study used 240 valid responses, which mapped 4,174 connections between 2,940 people and organizations across the province.
A few findings stand out. Women made up 24% of the entrepreneurs in the network, but the results suggested female entrepreneurs may be better connected than their male counterparts. The founders who responded also skewed older than the stereotype: 51% were over 40, and only 21% were under 30.
Mentoring, the thing MaRS most wanted to learn about, turned out to be common. In a follow-up post on mentors, MaRS reported that 56% of respondents had been involved in some form of mentorship. Those relationships most often began through university networks, co-workers and other referrals, with Ontario’s Regional Innovation Centres also a significant source of mentors. That’s the university finding again, seen from another angle.
What It Means for Founders
The headline number from the early data, that only 0.1% of possible connections existed, is a reminder that most founders work in small circles. That’s normal, but it means the right introduction is often just one or two steps away and nobody has made it.
If you’re building a company in Ontario, your university is likely one of the strongest networks you have, even years after graduating. Alumni groups, former professors and campus incubators are worth treating as part of your support system, not just your past. And if you’re further along, mentoring someone else is one of the simplest ways to strengthen the whole network.
Frequently Asked Questions
What did the MaRS and Endeavor Insight survey find about Ontario's startup networks?
Early results showed that educational institutions are the strongest connecting hubs in Ontario's entrepreneurial networks. Many entrepreneurs appeared to have attended multiple universities.
What was the Connected Entrepreneur survey part of?
The survey was part of a Global Entrepreneur Research Network project that aimed to map startup ecosystem connections in 100 cities over five years. Earlier maps had covered single cities such as New York and Cairo, while Ontario was the first to cover a wide area.
How connected was Ontario's startup ecosystem?
The research team said that in the early data, only 0.1% of the connections that could exist in the ecosystem actually existed.
How many responses did the final Connected Entrepreneur study use?
After cleaning, the study used 240 valid responses, which mapped 4,174 connections between 2,940 people and organizations across Ontario.
Where do Ontario entrepreneurs find mentors?
MaRS reported that 56% of respondents had been involved in some form of mentorship. Those relationships most often began through university networks, co-workers and referrals, with Regional Innovation Centres also a significant source.