Like many other fintech startups, we only replace one or another aspect of banking services, but we obtain capital through private investment, not customer deposits through a chequing account. This fundamental difference is often overlooked in the conversation around regulating fintechs like banks and credit unions.
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As the shockwaves from the affirmative Brexit vote start to dissipate, there has been increasing chatter concerning the fate of London as not only Europe's financial services hub but also for startups...
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Although startling in its relative speed, the changes taking shape in the financial services industry should come as no surprise. We are living in the Age of the Customer, where customers now expect companies to deliver personalized, intelligent experiences as a matter of course.
Approximately 140,000 new businesses are started every year in Canada, yet half of them don't make it to their fifth year. Small businesses are key drivers of economic growth in our country and we must equip entrepreneurs with the tools and resources they need for long-term success in order to help transform Canada into the innovation hotbed we know it can be.
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Not only is the show well-written, co-created by comedy genre genius Mike Judge (Office Space, Beavis and Butt-Head) but there's also a lot of research that has gone into the making of the show to ensure its validity. Here are five startup tips that could make or break your next big idea.
For some of us, denim is a lifestyle choice. Sporting our prized jeans during work and play, it's only natural that maintaining our baby blues is part of life's daily routine. Bordering on an obsession similar to that of wine aficionados, 'denimheads' also thrive on a high that comes from seeking, enjoying and preserving special washes, cuts, vintages and grades of denim. There's just one problem: luxury denim is notoriously expensive. And now, there's a solution.
Even visionary company founders need lots of help navigating the road to success. And that help includes everyone from the suppliers who influence product profitability to the financial backers who dictate a start-up's ownership distribution. And it is no secret that these critical partners dislike doing business with jerks -- even visionary jerks.
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Like society, a company's success depends on a culture that is created and cared for by its people. We know this and yet sometimes this fact gets lost. At the companies I'm involved in, we feed people, but we're actually about building culture. There is no better way to bring people together than breaking bread. Culture is not a something, or a someplace, it's not even a someone -- it's the shared space between.
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"I've had people come up to me and say 'I work in Silicon Valley, I do what Monica does, and you nailed it.' They say it's actually uncomfortable to watch because it's so realistic."
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"This is clean energy on a massive scale."
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You set your hours, you choose your colleagues and you control your brand. Though entrepreneurship definitely has its upside, it can also be a rude awakening for those who don't have a realistic understanding of the challenges that come with being your own boss.
Startups have the potential to be "significant employers of tomorrow."
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It's cheap to invest in Canada these days.
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Starting a company is not an easy task to tackle. There is a lot to think about, and it is extremely hard to do alone. Fortunately, if you are in Montreal or thinking of relocating to the fabulous city, Montreal can make that start-up move a little easier with quite a few incubator and start-up hubs to get your business moving.
The world of online advertising is complex and ever-changing, but it's also exciting and filled with promise. As innovation in advertising technology continues to evolve, old-hat tactics, such as direct response marketing, are quickly becoming obsolete. Here's a list of digital marketing predictions set to reshape the online advertising landscape in 2016.
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WATERLOO, Ont. — Inside a few Canadian school buses a new sensor technology is helping keep drunk drivers off the roads. It's part of a test project underway at Sober Steering, a Waterloo, Ont.-based...
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For businesses in the idea stage seed capital is typically provided by the founders themselves and "love money" from family and friends. There are also a number of public and private organizations willing to step in and make relatively small investments to help grow businesses to a stage where bigger dollar players, such as venture capitalists, take an interest.
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Pre-seed, a relatively new stage in the funding process, is becoming more recognized in the Canadian startup ecosystem and in other startup hubs around the world. The trend is growing for a number of reasons, and Canada would benefit from more capital dedicated to pre-seed from truly value-added investors.
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This problem is also a Canadian concern. A May 2015 survey of high-impact Canadian firms revealed that "finding employees to expand and scale their business ranks as one of the top challenges identified by entrepreneurs." Lower and less progressive taxation would help attract and retain highly specialized labour.
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The statistics are alarming. Nine out of 10 start-ups die at five years. I know the challenges personally because I'm on my eighth start-up now. From selling one of my successful ventures to Arlene Dickinson of the Dragon's Den, to some not so fruitful ventures, I have had my share of wins and losses.
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With an energetic and vibrant atmosphere it's no surprise that Victoria, B.C. is one of the world's favourite destinations. As I was soon to learn, that energy is here in the technology business, too. It has been hidden away a little, obscured by its modesty, and I do actually think that there is something really special worth shouting about over here.
If you are one of those start-ups be prepared for a rigorous process. If you are competing for funding from an angel investor group or in a business competition you are going to have to go through a lot of hoops. Don't despair, this will actually help you prepare for running the business itself.
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Over the past two days, Canadian entrepreneurs and American venture capitalists met at Venture North, a conference that aims to introduce U.S. VCs to Canada's tech ecosystem. Mayor John Tory started off Wednesday's proceedings by stating that Toronto is a startup-friendly city, and its tech leadership is "simply a story we haven't told yet."
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With each startup event that happens throughout the year, we are standing a little taller as a community, being a little more innovative and getting back to the business of hard work. That's the defining factor: When things don't come easy, we work harder. For me, that's the startup culture in Vancouver.
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For those of us who have founded companies, startups are like your first-born -- exciting, terrifying and usually there are only three of you! There is only one goal: survive. It's crisis management everyday and the strategy is "let's find something that works today."
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It's clear that as a society we need innovative new firms to step in and help solve our climate, health and social problems, while at the same time creating a profit for investors and jobs for all of us. The important question is: how can we assure that this happens?
We create career expectations, relationship goals and five-year plans, all pressuring us to succeed within constrained periods of time. While I do believe that planning and having attainable goals is good practice, I feel our understanding and assessment of our personal success shouldn't be linked.
'Unicorn' is a term in the investment and venture capital industry use to define a start-up company whose valuation has exceeded USD$1 billion dollars. When you look for these (apparently not so) mythical creatures we find a plethora of U.S.-based companies: Uber, Airbnb, Palantir, Snapchat, Dropbox and others.
It isn't that we all started to collectively do things wrong, it's that the rest of the world is getting a LOT better at this sort of thing. We need to catch up.
Abdullah Snobar is the executive director of Ryerson University's DMZ business incubator, ranked first in Canada and fifth in the world. That puts Snobar in charge of the downtown Toronto home to over 400 entrepreneurs and 50 employees.
In the constantly evolving and socially driven society we live in today, the very definition of a workplace has changed. Coworking has become a global movement where work is done outside the confines of a traditional workspace and is instead in a shared working environment either in an office or other public space.
True success of an entrepreneur comes not from their ideas, but from their inner mindset and character traits. It takes a certain type of leader to endure startup life and persevere past the hurdles that will inevitable lay ahead in their efforts to inspire disruption or bring a new innovation to life.