- Lessons Learned – Viral Marketing http://bit.ly/5NhoEF #viralcoefficient #
- Does a VCs brand matter? by @cdixon http://bit.ly/8TzF9Y – "the quality of the individual partner making the offer matters a lot" #
- New job posted: Software Sales Specialist / Quasar Apps / Toronto, ON, Canada http://bit.ly/8AdQOF #
- RT @Jordan_Banks: Local start-up Polar Mobile and its success w/ mobile media apps: http://bit.ly/6OZWZl #
- great coverage of @polarmobile by @thehartley http://bit.ly/6JbafU and in the Globe http://bit.ly/7N9E8e #toronto #startup #
- Google Goggles is sick http://bit.ly/5ghSVk contact info looks killer for me! #
- Bridgescale invests $11M in BlueCat Networks http://bit.ly/6gCQla (missed this 30 days ago) #toronto #startup #
- Bridgescale is lead by Rob Chaplinsky a Waterloo grad http://bit.ly/5SlGVh previous experience at MDV #Canadians #siliconvalley #
- "Someone stole my startup idea, part 2 – they raised money with my slides" by @sgblank http://bit.ly/7MnlqK #mustread #
- RT @jacquimurphy@techcapital: New blog post by @timothyjackson "Time, Treasure and Talent" http://bit.ly/5QNbdP #
- RT @dapshore Can they restart Cdn tech financing? Tandem backing Canadian tech fund raises $300m http://bit.ly/4v6daM (via @StreetwiseBlog) #
- meetmehere out of Halifax. Nice work! http://bit.ly/5ANNi8 #
- New job posted: Director of Community / AdaptiveBlue / Toronto, ON, Canada http://bit.ly/8sxXnc #
- RT @RedCanary 95 Per Cent of foreign investors find Canada an investment nightmare http://bit.ly/6zhK84 #
- RT @RedCanary U.S. Venture Capital Industry Says No To Funding Canadian Innovation http://bit.ly/7901AY #
- Simplycast raises a round http://bit.ly/4Dg6HY #
- RT @davidcrow: If you can't tell me what you do in 30 secs without giving up your secret sauce, you don't have any secret sauce #
- RT @maurar @bootuplabs Demo Days Event in YVR & SF. Great opportunity for early stage digital media BC startups. Apply now http://tr.im/Hm0y #
December 2009
What is being a startup really about?
Being a startup is definitely a badge of honour these days. It always has been, but it seems to have taken on some whole new meaning. I think part of the reason is that starting a startup is now a more accessible dream than ever. You know the deal: cheap development costs, smarter money, more supportive communities.
There is a tipping point however. A point of no return where your romanticization of what a startup is goes form constructive to destructive.
So I am here to say that I have been staying up late, leaving the porch light on.
First, I have some ideas about what being a startup is not about
The first thing to remember is that everything you have been told about what startups should or shouldn’t do is all bullshit. Every industry, geography, product, and approach is unique and those are the primary determining factors in how you do business. Depending on the resources and opportunities available to you, you may have to do things completely differently than a startup located somewhere else. The people telling you that it is done “this way” or that way obviously haven’t done it before.
And then there is the fact that most of the people you are listening to are more successful at getting attention than they are at actually running a business. They are hyper networkers and quite influential, but they are not role models. Being a startup is not about being a personality. It helps, but it isn’t the endgame.
Don’t forget that partying != networking. It’s ok to go out and have a good time, but please do not tell yourself that it is business, no matter who you are rubbing shoulders with. That goes for conferences and the idea that being involved in “the community” is important to your business. Being in the community is important to you, but being in front of your customers is what is important to your startup. Learn to balance this.
So, what is being a startup about? I can give you some ideas.
Creating. More than anything, a startup has to be about creating something new. This is the primary part of the definition that separates Startups from Service Providers. Founders and early employees need to be willing to get their hands dirty in the clay in order to shape something unique.
Seeing. There is no science to being a startup, so your best bet is to get your paintbrush and play the artist. Anyone who takes a scientific approach to creating a startup may get lucky, but they won’t be able to handle the certain uncertainties of startup life. Being a startup is about designing a future for your product, company, culture and market that you will be able to realize, but the mechanics of which you are able to create as you go.
Discipline. This is an easy one to forget. Every flaw you have will be magnified under the lens of money, people and uncertainty. Stay focused.
Ignorance. There is always a reason why what you are doing won’t work. You need to learn to ignore the opinions and objections that don’t matter. Your job is to prove them wrong. Some advice just isn’t worth taking.
Student Technopreneurship in Alberta
What is technopreneurship? I’m guessing that it’s technology entrepreneurship. The Government of Alberta Advanced Education and Technology has a program for “young entrepreneurs” (crap, I guess by the Alberta definition I’m now old). The program is a business plan competition run by post secondary education institutions and non-profit community groups. It’s a pretty cool deal to support the existing institutions.
- SAIT – LAUNCH Business Plan Contest
- Red Deer College – RED Challenge
- NAIT – HATCH Opportunity
The program essentially provides $20,000 to winners ($10,000 for high school students) plus “incubation services” and mentorship. I hope the “incubation services” and mentorship are provided without fees to the winners. Though with it looks like some of these services are financed through the Alberta Innovation Voucher Pilot Program, that offered vouchers of up to $10,000 or $50,000 to cover 75% of services by approved service providers. These programs are not directly related, but it does show a preference to a network of approved providers and funding redirection.
There’s a lot of great things going on in Alberta. How can you fault an organization that links to DemoCamp (BarCampEdmonton) as part of their networking advise for entrepreneurs? They are venture programs like AVAC Ltd. that are actively investing $79M in Alberta. You can see deals being done like Tynt Multimedia that included Montreal-based iNovia Capital on their latest $5M round, and Calgary-based CoolIT Systems. There is a lot of work with the Alberta Deal Generator, and the Banff Venture Forum that are driving interest and attention. And there are deep entrepreneur led grassroots efforts with STIRR in Calgary and DemoCamp in Edmonton.