Hello StartupNorth. I am pleased to announce that "Smooth Commerce" will be our new corporate name and the brand of our platform powering retail white label apps. SmoothPay www.facebook.com/SmoothPay/ remains the brand of our App for payment and loyalty rewards. Full release below. ... See MoreSee Less
TORONTO – October 19, 2016 – SmoothPay announced today that it is changing its corporate name to Smooth Commerce. The name change reflects the company's broader retail commitment and its expertise in driving the innovation needed to shape the future of customer engagement and loyalty through digital...
Are you part of a young startup? Are you interested in winning $50,000 in funding? Applications for The Queen's Entrepreneurs' Competition 2017 are now live!
The QEC is a premier undergraduate startup competition that brings in competitors from around the world. Past competitors have come from top universities around the world, including Queen's University, Harvard University, and the University of Hong Kong. This year, we're very excited to host our final weekend for the top 15 teams in Downtown Toronto, and we have over $75,000 in prize money up for grabs.
Think you have what it takes? Head over to www.theqec.com for more information about how to apply. Applications are due October 29, 2016, with an early bird deadline of October 15, 2016. Good luck!
Big news! Congratulations to Andrew, Eva, Salim and the entire Borrowell team for striking this important partnership with CIBC. The hustle among Canadian startups is alive and well. And the big banks are taking notice. ... See MoreSee Less
We lost one of our best Canadians last night. A committed member of the community who humbly helped so many. Please comment on Angela Strange 's medium post below if Shawn helped you on your entrepreneurial journey. We will share the stories of Shawn with his wife and daughters. Sad day for all of the C100 community. ... See MoreSee Less
Reuven GorshtWhat a devastating loss. I had the pleasure of working with Shawn for a short while. He was an incredible person. An optimist who inspired everyone around him to reach higher and become a better version of themselves. You will be missed Shawn.
I think this might be my first direct post to SN (as opposed to commenting/trolling). I just backed this - I think it would be unbelievably cool if Canucks delivered the Hyperloop...and might be slightly motivated by the three hours I spent on the road yesterday going to/from Waterloo! (And looking forward to sporting my new Waterloop T!) ... See MoreSee Less
Good news, everyone! Today, Matthew M. Braga is starting a new role at CBC, as a senior tech reporter. I'm thrilled, love his work. Huda Idrees, remember we just talked about this, too! Everyone, please give this guy a follow. Many of you may remember him from Vice Motherboard days. ... See MoreSee Less
Mykyta PonomarenkoThis also makes me think about sex in VR I'm sure someone has already had it. VR sex could be a huge game changer.
1 day ago
Raphael CarrierI feel like Steam could help fix this using a combination of a ban system and reporting mechanism. I bet they'd think twice before doing it if it meant their precious Steam account being flagged as rapist.
Yahya IsmailOk so this is in my opinion a new take on a worn out problem. I feel like everything said in the article is just an extension of the toxicity that exists in video games. I don't feel the article is stupid or silly because of its context, which is really serious in my opinion, but rather because of the fact that it is trying to state a problem that isn't new, without actually contributing anything to the solution. There are much better articles that go in depth into psychology and game mechanics to combat toxicity, and those are the ones worth reading. This is just a dime a dozen article with VR written on it. Nothing new, nothing special.
It's been a busy week at Wave HQ! Last week we launched our new Invoice app for Android. Today, we're announcing a new $14.6 million investment, $20MM in annual revenues, and our plans to grow the Wave team by 50%. It's a great time to be in tech in Canada! ... See MoreSee Less
Ben ZifkinWhen I moved back to Canada, Kirk was the first entrepreneur that offered to meet with me. He was instrumental in helping us set Hubba in the right direction. Kirk is the epitome of grit and resilience. If I wasn't running my own company, he is on a very short list of leaders I would love to work with. AND ALSO $20M ARR.
“And while you obviously don’t have to go through an accelerator to succeed; it helps. Pitchbook found that one-third of startups that raised a Series A round in 2015 went through an accelerator. But only about 1,200 companies per year went through an accelerator in 2013, 2014, and 2015, and there were far more than 3,600 companies started each of those years. So while companies that go through an accelerator are a small portion of early-stage startups (likely 10% or less), they are a much larger percentage of successful startups (33%).” ... See MoreSee Less
Rob DuxterIn the spirit of open discussion, what do others believe are good measures of success? I'll start:
- revenue growth
- bottom line
- founders personal net worth
2 days ago
Michael MahonYou probably need a collection of them. Funding can be one, used as a proxy for company growth, but on its own, is dangerous. Revenue growth definitely up there. Bottom line wold be nice but often is a LONG time away (IPO stage). Employee growth can also be taken as a proxy for company growth, but it is often tied to financing and can also be dangerous. One metric we use for our portfolio is enterprise value (equity + debt) and I know others use equity value creation. Of course, we all know there is a lot of nuance and subjectivity associated with valuations. But if you get a collection of 4-5 relevant metrics like some of those, it would probably be a decent dashboard.
2 days ago
Huda IdreesNot a fan of the "money raised" culture. It inflates egos and fools startups into thinking they're doing well. It's also very often used as the only success metric, instead of being tied to other facets of growth. The whole point of any business should be creating value of some kind.
Sylvain CarleTo get back to the point of the original article: if you choose the fundraising path, succeeding at getting follow-on on capital is a good proxy for success, and accelerators can be a good way to let you know pretty quickly if this is a good path for you or not.
You need to get product-market fit, you need to nail your founder narrative, your go to market, you need users/customers, you need to attract great people to your team... After discovery and validation, you focus on efficiency and scale. This is true for all startups.
But there are two path you can go by (and sadly it's really hard to change the road you are on): you can bootstrap or you can fundraise. These are two very different paths, with pros and cons. Being aware of the path you choose and why is SO important.
But if you choose the equity path, with investors to fuel your growth, this article is pretty spot on in it's analysis.