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FreshBooks integrated with Skydeck.
Lots of events this month, check out the calendar for more details.
Guest post by Austin Hill, CEO of Akoha & Founder of Brudder Ventures.
I’m really pleased to be speaking at Startup Empire on November 13th in Toronto. I’m going to be running a hands on workshop for entrepreneurs entitled “Slow down & Speed Up – Managing A Startup in Turbulent Times”.
In my workshop I’ll be sharing some strategies & tools for the following aspects of your business,
Jevon McDonald & David Crow have put together a great line up of speakers and sponsors.
The organizers have recently dropped the price to a very affordable price of $69 for the entire day conference.
At the same time I know many entrepreneurs who watching budgets & may not feel they can afford to attend (travel & conference fees) so we are announcing a quick contest for entrepreneurs interested in joining us at the conference.
FlowVentures, AngelSoft and Brudder Ventures StartupEmpire Contest
In the spirit of creating great opportunities for entrepreneurs I have partnered with my friend Raymond Luk from FlowVentures and the team from AngelSoft to sponsor 10 entrepreneurs to get the following packages.
The contest is open to any entrepreneur, startup or aspiring entrepreneur who working building a technology startup.
To enter the contest all you need to do is send an email to startupempire [@] brudderventures.com answering the following 3 questions. Submissions must include your contact information, URL & Company contact details (if applicable) and should not exceed 1 page per answer.
All entries should be received by this Saturday November 8th.
Microsoft is launching a new program focused on helping Startups get up and running. The program is called BizSpark and according to Microsoft, the biggest benefits are
- Software. Receive fast and easy access to current full-featured Microsoft development tools, platform technologies, and production licenses of server products for immediate use in developing and bringing to market innovative and interoperable solutions. There is no upfront cost to enroll.
- Support. Get connected to Network Partners around the world — incubators, investors, advisors, government agencies and hosters — that are equally involved and vested in software-fueled innovation and entrepreneurship who will provide a wide range of support resources
- Visibility. Achieve global visibility to an audience of potential investors, clients and partners
Basically, you enroll and are given access to a almost all the nessecary server and development software you need. The server licenses are even prouduction grade, so you can deploy (from what I can tell) cheaply. You are getting a high end MSDN subscription and a lot more, all for free.
My first few startups were Microsoft-based. Believe me, things have changed. We used to have to scrape together $6000, $12000 or $18000 to pay for MSDN subscriptions. That was always incredibly painful. Microsoft eventually announced a program (PowerISV) that brought down the cost, but was still really weak on support. BizSpark eliminates almost all the licensing/software costs involved in being a Microsoft Based startup.
I am not going to get in to any religious wars here. 90% of the startups I see (at the early stage) these days are Open Source based. The reasons for going Open Source are obvious for many of them, but for others it is not such a simple decision. For those building software focused on businesses, Microsoft brings some very big opportunities to the table, especially with the Azure Services Platform.
The other thing that tells me that Microsoft is starting to finally “get it” is that they don’t care if you are a 100% Microsoft based startup, or if you are Open Source based and just need to connect to Microsoft tools. The program is open to everyone.
If you are coming to StartupEmpire, Microsoft is going to be throwing the after-party to celebrate startups and the new BizSpark program. There will be Microsoft execs on hand to answer your questions and to explain the program.
In case you are wondering, no: this is not a pay-to-play post. Nobody from Microsoft asked me to write it. I believe this program stands on its own.
Any good startup has to iterate constantly. Market changes, product changes, management changes. Every part of the organization is help up to a high standard and when it does not make the cut, it has to change. With that in mind, we are announcing some changes to StartupEmpire, our conference that is just over one week away.
These are tough economic times, we are in a period where start-ups need to buckle down and manage their cash flows closely. Likewise, a lot of individuals are considering more closely where they invest their time and money.
In order to make StartupEmpire more accessible, we are reducing the conference to a 1-day event and we will be reducing the price of a ticket. This is to allow start-ups to continue to be more responsible with their finances and still have the opportunity to participate in conference designed to provide real-world education for start-ups about starting, building and growing successful companies.
Therefore we are taking the following steps to help start-ups, students and entrepreneurs attend StartupEmpire:
We believe strongly that this event is something that the startup community needs and we have worked hard to ensure that it is still of the same high quality as the original event.
The opportunities available at StartupEmpire are important for everyone: Real world examples of success and failure by entrepreneurs, Learn about the pitfalls of having the wrong business model, customer acquisition, financing, incorporating, getting sued, social marketing, technology selection and product development from entrepreneurs in the trenches can help you learn what to do and what to avoid with your start-up.
The lineup includes world-class entrepreneurs including: Don Dodge, Lane Becker, David Cohen, Howard Lindzon, Rick Segal, Austin Hill and others. Along with the conference program there will be social opportunities to meet angel investors, venture capitalists, lawyers, accountants and others with expertise helping Canadian startups get to the next level. The day will end with a wonderful social event hosted by Microsoft Canada.
I apologize for making these changes so close to the event. We are working to ensure the best experience for a reasonable cost for all attendees, and to make sure that as many people as possible have an opportunity to participate.
I would like to thank our sponsors who have been understanding and who have helped out in many ways.
Ontario Centers of Excellence,
and JLA Ventures.
Visit www.startupempire.ca for more information on the conference and to register.
It might be the end of the world as we know it for venture capitalists. But Vancouver VC, Yaletown Venture Partners, announced their $100M Second Fund with $65M closing today. The fund is focused on early-stage investing in clean tech and IT in Western Canada.
"The support that Yaletown has earned for its first two funds in extremely challenging market conditions, from institutional and technology industry insiders alike, is a strong endorsement of this team and its investment strategy," said Haig Farris, retired co-founder of Ventures West and one of Canada’s most respected angel investors.
This quote by the retired cofounder of Ventures West says it all. A strong investment team with a strong thesis can raise money in down times. This is true of entrepreneurs and startups. Good ideas, good businesses and great execution make it easier for startups to raise money even in tough times.
Yaletown has done a number of IT investments including:
Earlier today b5media launched Bizzia, making their second foray into the world of blog aggregation. Bizzia is centered on business news, initially pulling together posts from 30 established b5 blogs and videos from content partner Your Business Channel.
The Wall Street Journal it is not, and many of the questions I posed when Starked (their entertainment portal) launched remain. Namely, will consumers of niche content be interested in aggregation around a generic vertical? Time and traffic will tell… For your consideration two data points: First, in under a month Starked has managed to attract an audience size similar to that of StartupNorth (at least according to Compete). Second, Starked does not yet nearly rival other niche b5 blogs like JuniorCelebs.
Finally a survey for the peanut gallery: any thoughts on the palindromesque brand / logo?
Looking for venture funding? Consider participating in the following initiative run by PWC and Burns & Levinson LLP.
The US/Canada Venture Capital Pipeline links venture capital firms and investment banking firms based in the US with Canadian companies seeking financing. The event is designed to build relationships and create business opportunities between US investors and Canadian companies. This December 4, 10 Canadian IT companies will head to Boston to meet one-on-one with U.S. investors.
The deadline to submit applications is November 14.
Here are all the details. If you are interested in applying, please contact:
Leonard Gold
Managing Director
Burns & Levinson Canada Co.
Partner, Burns & Levinson LLP
lgold(at)burnslev.com
617.345.3831
Charles Godbout
Vice President, Corporate Finance Inc.
PricewaterhouseCoopers LLP
charlesgodbout(at)ca.pwc.com
514.205.5020
One thing we wanted to be sure of at StatupEmpire is that there would be a chance for investment-ready startups to meet the right people.
Are you coming to StartupEmpire? Do you have a mobile startup or an idea for a mobile startup? Do you have Blackberry development somewhere on your roadmap?
We have a huge opportunity that I am really proud to be able to talk about.
We have been working with the Blackberry Partners Fund to see as much as $500,000 get invested in to up to 5 mobile startups during the conference.
Are you thinking about developing a mobile product or application? Are you coming to StartupEmpire? Fill out this form and you might just walk away with a term sheet! These are simple convertible debt deals that will help you get up and running.
Submit your idea or startup here!
I would like to thank our Leadership sponsors, Microsoft and HighRoad Communications.
We are also pleased to announce our champion sponsors,
Visit www.startupempire.ca for more information on the conference and to register.
You could argue that we are always in a downturn. Even when things are on the way up, a smart entrepreneur realizes that it will be followed by the downward sloping of the curve. It goes up, it goes down.
So here we are. I posted just a few weeks ago that I thought things were rough, and were going to be rough. I have to say, even though it was only two weeks ago, things have changed a lot since, at least in terms of people’s outlook.
So here is the trick. It is time to use this period to your advantage.
A handful of VCs in Canada have put together “seed” options in their funds when they raised them a few years ago. These range anywhere from $250k to $500k and are usually simple convertible debt notes. Until now it hasn’t been very cost effective for them to spend much time issuing these. Either an opportunity was good enough that they wanted to invest in it full-tilt from their regular fund, or they just didn’t like it. Most didn’t want to spend much time with the “it might work” group of startups (which is where all good ideas start!).
My sense is that this is changing. Some of these VCs are starting to think that these might be just the right instrument to get some startups off the ground in the next little while. Those are the smart VCs, the ones who adapt quickly and who understand that the upside will be coming back in to focus.
This is your chance to start to hustle while others are taking a breath on the sidelines. The challenge for we startups is to structure our companies in a way that makes sense for the current environment, and for VCs the challenge is to realize that this is a critical point for the industry in Canada, and those who are left have to jump in the game and send a signal.
And this isn’t all about getting funded. This is the time to hustle even more if you are going to bootstrap. Build your product now and test it, when the upside comes again, you will be ready with a product and some customers, then you can focus on going deeper in to the market.
The truth is, we will never know when the bottom of this situation will show up. Like it or not, the upside of this downturn is coming and the best way to lose is to stop working hard right now.
I am sitting here watching my cat chase his tail (what does that say about me?), and it reminded me that I was going to make this post.
This time last year, just as everyone was getting the Facebook logo tattooed on their butt and while my buddies were trying to figure out the science of breaking up with someone they had listed as a relationship on their profile, I went against the grain.
Almost exactly 1 year ago, I took the time to tell you that you were all deluded, that the Facebook Platform made no business sense and that this was all going to come crashing down.
Then, just 4 months later, I got on my high horse (on which I am still firmly mounted) and I wrote that I was right. The house of cards came down even faster than the credit markets.
So, I am back again, thinking I will gloat a little more, and tell you that if you haven’t moved on yet, then you need to get over it. Your relationship with Facebook is unhealthy. It is a fine place to find old boyfriends and girlfriends from High School, but it is no place to make a business.
As your mother would say: I told you so.
Now we are at the point that even the people who were making money off of Facebook applications are willing to admit that the whole thing has gone down the tubes.
Scott Rafer, the founder of Facebook App shop Lookery, recently declared the Facebook Platform “dead” at the Facebook Developer Conference in Berlin.
“Lookery’s own statistics from Quantcast suggest that their publisher traffic has been almost halved since the new site design was released. Ultimately, I think we may see an increase in traffic as users become educated on the new design but there is no doubt that developers were impacted significantly.”
The redesign of Facebook was just the final nail in the coffin of the world of Facebook applications, but it is representatitve of a point I made in my first post on this subject: “You cannot build a business on someone else’s platform when they don’t see you as a partner.”
As an app developer, you were a customer of Facebook. A guest and a test market. You were disposible.
Build for a real platform
What is a real platform? Here are some examples:
The Web.
Yes, all those things you loved about Facebook, The Web has them too, and more, and better,. more better.
The Web has an API, it has users (a lot more than Facebook), and it is pliable and you can apply all sorts of revenue models on top of it. Yes, the web is a wonderful place to put things that have value.
Sure, the web isn’t for lazy folks. It isn’t like Facebook in November 2007 when you could get 50,000 people running your app which displayed various types of mullets, but you know what, if you put a little elbow grease in to it, you just might get 50,000 users, and you might get 5million, and they will be all YOURS.
Microsoft Outlook
I’m not telling you this is a MUST-BUILD platform, but it is worth taking a look at. Outlook has proven itself as a great platform on which to build. From a development perspective I am sure it is a total pain, but once you are in there, you have as much access to someone’s “social graph” as Facebook could ever give you, and your ability to integrate with Outlook is limited only by your imagination and the willingness of your users.
The Blackberry
I might get a rough ride for this one, but the Blackberry is the ultimate platform. Blackberry users are addicted. They are fiends and they ALL HAVE MONEY. Here is the other thing: Blackberry has been getting a lot of grief for not having an app store like Apple does for the iPhone. I have to agree that it seems silly, but there is a reason: RIM does not want to be a gatekeeper. You can install whatever you want on a Blackberry, and through that, RIM ensures that they are not the broker of success on thier hardware. The web is where Blackberry apps compete.
Now, sure RIM recently announced carrier-specific app stores, but those will probably die off, and they are about RIM pleasing the carrier. The ability for anyone to be able to install your app will still live on.
So go on, get out there and build on top of things that care about you, your users and your business.