Funding

Recommended Reading | So you just raised your seed round, now what?

Recommended Reading | So you just raised your seed round, now what?

We get a lot of questions about access to capital from Founders of early-stage tech startups. It often is one of the first questions we hear when we meet with someone interested in pursuing their idea for a product. There is a lot of work to be done before seeking angel investment or a seed round for your company - like problem/solution fit, minimum viable product development, and even preparing to sell to customers (and we’re happy to support your efforts through the Preflight program.)

In this article Boris Wertz, founding partner of Version One Ventures shares some of the patterns he has observed while sitting on the boards of the companies in their portfolio of investments, from pre-seed to Series B, and beyond. Version One Ventures has ten years of experience and comprehensive portfolio of tech investments including Jobber, Nexopia, TechVibes, IndieGoGo, and Indochino.

What I like about Boris’ advice is it’s incredibly practical, and what I’ve watched happen in our local community when startups successfully secure funding and then use it to prepare themselves for rapid growth. As I go through Boris’ checklist of what to focus on (and not focus on), three, in particular, stand out.

Let's Talk About Grants!

Let's Talk About Grants!

I sat down with Amir Reshef, CEO and Co-Founder of dealcloser, to chat about his experience with applying for funding through government programs at the provincial and federal level.

Amir and his team have a healthy perspective on how to make the most of this type of funding. Three big lessons he shares: 

  1. You need to have a plan to move forward with and without the funding. Being able to show your funding representatives how much more you can do with funding vs. without funding is one of the best ways to build your case. 
  2. Relationships are still key to securing government funding and grants, but they are a lot different than your relationships with investors. With a government program, you can't influence the timing cycle and you're often not dealing directly with the decision maker. 
  3. Government funding of any stripe is a massive responsibility and that's why it's a labour intensive process to apply and report on what you're doing with it. Amir does a great job reminding everyone that your startup is being trusted with taxpayer funds because your efforts will benefit the larger economy. 

Check out Stephanie & Amir's full conversation below. Scroll to the bottom for some interesting insight to how it feels to hire talent and pay them more than what you earn as founder! 

Supporting a diversified economy in Alberta | Alberta Entrepreneurship Incubator Program

Supporting a diversified economy in Alberta | Alberta Entrepreneurship Incubator Program

Day-in-and-day-out we see the impact our members and alumni companies have on our city's economy. They are hiring, renting larger office spaces as their teams grow, and bringing investment to the region. It's our pleasure to be of service to these founders, teams, and entrepreneurs each step of the way with programming, mentorship, flexible workspace, and access to a supportive community. 

Yesterday, we hosted the Government of Alberta for an exciting announcement regarding the Alberta Entrepreneurship Incubator Program. Edmonton region business incubators TEC Edmonton, NAIT, Northern Alberta Business Incubator, and Startup Edmonton will receive $1.5 million funding over two years from the provincial government to provide increased services to entrepreneurs and startups looking to enter and navigate the innovation system. Funding will support entrepreneurs, recent graduates and innovators by providing mentorship, business advice and open access to testing space, and world class prototyping and light manufacturing equipment.

Soft Landing with Canadian Digital Media Network

Soft Landing with Canadian Digital Media Network

The CDMN Soft Landing program is now accepting applications for travel ocurring between June - August 2017. Deadline for applications is May 14. Successful candidates will receive up to $4,000CDN in reimbursable expenses to help offset transportation and accommodation costs. Companies landing at a co-working space, accelerator or incubator may also have the costs associated with their desk space covered by CDMN for up to three months.