Startup Cape Breton 4.0

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Startup Cape Breton 4.0

Monday, August 31st at 4pm

Verschuren Centre (atrium), CBU

Join us for a conversation featuring regional and global perspectives on the local entrepreneurial ecosystem. Startup Cape Breton 4.0 welcomes our guests:

Ted Zoller, senior fellow at the Kauffman Foundation; and a professor and active practitioner of entrepreneurship at the University of Northern Carolina.

Gillian MacRae, vice-president at PropelICT, Atlantic Canada's startup accelerator; and the founder of AdTech marketing platform GetGifted.

Chris Moyers, investment manager at GrowthWorks, an Atlantic Canada Venture Capital fund; and a mentor with PropelICT's Launch36 program.

Permjot Valia, lead advisor at UIT Startup Immersion at CBU; and founder/CEO ofMentorCamp, which gathers mentors from around the world to share their knowledge and experience with local startups.

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Startup Cape Breton began as an event to promote new opportunities in technology, business, and education; it has grown to support the ongoing movement toward a more entrepreneurial, inclusive, diverse Cape Breton Island. More here: cbu.ca/startupcapebreton

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Monday, August 31st. 4pm at the Verschuren Centre, CBU
Business Startup Events Meetings, Networking Location CBRM

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David Rae Follow Me
Great to see this event. Over the summer the StartUp Cape Breton partners came together to write bids for ACOA funding for essential investments in entrepreneurial development in Cape Breton – notably an Innovation Hub and incubator in Downtown Sydney, at the New Dawn Centre for Social Innovation. This needs to happen. It would bring together presence by CBU, NSCC, UIT, Innovacorp, Island Sandbox and the Navigate Startup incubator. This is what everyone has said is needed. I know from experience that ACOA & their predecessor have a history of losing/delaying entrepreneurship bids, aided by the group I refer to as the Charlotte St Mafia, and this is again likely in a Federal election period. Don't let this one go, folks. http://bit.ly/1UaVugC
Joe Ward Follow Me
Your post article didn't go much into detail on the Innovation hub. Would love to hear more about what is proposed. Who is the "Charlotte St. Mafia"? Is that referring to members of the biz community that control the real estate, merchants association, gov?
Mathew Georghiou Follow Me
David, do you mean like our Silicon Island ten years ago :-) http://screencast.com/t/xPPR3cyj The same place ECBC/ACOA destroyed to turn into its own offices. Sadly, my recent experience with the ACOA leadership has been abysmal (and I don't say that lightly). Even if they do reluctantly approve something, it will be watered down to lack effectiveness. It kills me that this continues to happen and I will likely be shouting more from the rooftops about this soon.
David Rae Follow Me
Matt, You know of more examples than I but the same behaviour you describe continues. 1 year ago Cape Breton Partnership commissioned the 'Cape Breton Island and Mulgrave Strategic Entrepreneurship Action Plan' (ACOA funded); this was completed in May but still not made public - no good reason why not except the usual secrecy. It recommended an Entrepreneurship Centre; too big for the local ACOA staffers to approve. Bid lost. The Innovation Hub was a deliverable version. I hope someone asks about it at the StartUpCB event on Monday. The Charlotte St Mafia is the (geographically imprecise) term I use at moments of frustration to describe collectively the many business support & economic development agencies to be found in a line between the Dorchester St crossing and the Crescent Street / Kings Road site in Sydney. Count'em!
Joe Ward Follow Me
I guess the fleet footedness of Innovacorp's Spark Cape Breton program must be an amazing accomplishment. Though the funding is in lower amounts, they assembled a team that is able to make the decision quickly. Vet a short biz plan followed by a 15 minute presentation. Then see what happens. The amount of funding awarded is probably less than the reports and consulting process invested by other agencies/programs before deciding. A feasibility study conducted by doing. I realize where the source of that funding is coming from. But these seem like the characteristics that need to be considered when reengineering other processes to start making stuff #happen.
Joe Ward Follow Me
Do the people making these big decisions inside of these agencies actually have the credentials to do so? Have they been proven to pick winning projects before? What is their win/loss ratio?
Dave Johnson Follow Me
This might well be naive but is it a given that all roads run through ACOA? Or any of the local business support and development agencies? Are there private sector-led innovation hubs elsewhere? I'm wondering if this is just a hangover from CB's days of looking to government for everything.
Joe Ward Follow Me
I was thinking about this recently as well, Dave. Maybe there is a role simply for these agencies assisting with getting startups ready to pitch to outside private venture capital or related programs. In a way, becoming a client (funding) from any of them gives us a credential to work with (pre-vetted), but perhaps that could be a formalized process. I wonder if (in the tech startup area), any of our agencies have ever tried actually pitching our potentials to some of the saavy US venture capital firms or bigger Canadian markets? Just think of all the syndicates on AngelList. It would be much more challenging (though not impossible) for a bootstrapper like myself to get their attention, whereas a major provincial agency would presumably have some significant clout. In one sense, there is probably a great fear that our best prospects could get poached away. However, we would have to be prepared with a biz case for that not happening, such as the square footage argument. For digital products, it can be much most cost effective to house them in this region versus Silicon Valley (e.g.). Slyce, operating out of the metropolis of New Waterford, has to be a decent case study to work from.
Mathew Georghiou Follow Me
I can answer many of these questions that you guys are asking, but I'm going to leave that for another post and another day. For this post, let's focus on supporting these SPARK winners and wish them the best with what comes next. And, as David says, let's not forget to ask the right questions of the right people as we do so because that all leads in to what happens next to these SPARK winners. If the next step of support for them is not there, the chances of success drop fast. WHOOPS! I just realized this is the StartupCB post not the SPARK post ... sorry!
Mathew Georghiou Follow Me
Ok, I'm back (after realizing this post is about Startup CB and not Spark). To answer Dave, Joe, and David's questions ... I was just reminded that I answered some of these questions in an old article that you can find here: https://capebreton.lokol.me/p/11033 It describes some of what I have seen in the past 2 decades with our economic development failures, and how that led to the creation of goCapeBreton.com. In the near future, I may expand on this further and publicly reveal more of what I have seen.

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