Comments on: Startupping in Canada is lame … or NOT http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/ Technology and Innovation news in Montreal Tue, 22 May 2012 17:16:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: GeorgeFavvas on SmartHippo.com » Blog Archive » Starting up in 2008 — Do You Really Need External Funding? http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-11533 GeorgeFavvas on SmartHippo.com » Blog Archive » Starting up in 2008 — Do You Really Need External Funding? Tue, 08 Jan 2008 15:34:37 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-11533 [...] a debate brewing on the state of startup funding in [...] [...] a debate brewing on the state of startup funding in [...]

]]> By: fsbrainstorm » Blog Archive » Learning from a Struggling Startup http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-11428 fsbrainstorm » Blog Archive » Learning from a Struggling Startup Tue, 08 Jan 2008 01:55:43 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-11428 [...] minds) will work for free. So some serious networking and elbow-rubbing is required ’cause tech startup funding is still kinda flaky in Canada. Also, it’s probably easier to obtain funding for products with large [...] [...] minds) will work for free. So some serious networking and elbow-rubbing is required ’cause tech startup funding is still kinda flaky in Canada. Also, it’s probably easier to obtain funding for products with large [...]

]]> By: AG http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10990 AG Fri, 04 Jan 2008 15:37:46 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10990 What would happen to Google, Apple, Facebook, YouTube if they did not receive any funding? Look at the Ottawa Capital Network: http://www.ottawacapitalnetwork.com/entrepreneurs/fundingRoadMap/chooserVC.asp You can see that reaching expansion requires at least $10 MM to $20 MM. Unless you are in service business, you’ll need a serious capital to start, develop and market products. What would happen to Google, Apple, Facebook, YouTube if they did not receive any funding?

Look at the Ottawa Capital Network:
http://www.ottawacapitalnetwork.com/entrepreneurs/fundingRoadMap/chooserVC.asp

You can see that reaching expansion requires at least $10 MM to $20 MM. Unless you are in service business, you’ll need a serious capital to start, develop and market products.

]]> By: Starting up in 2008 — Do You Really Need External Funding? at George Favvas’ blog http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10914 Starting up in 2008 — Do You Really Need External Funding? at George Favvas’ blog Thu, 03 Jan 2008 21:08:32 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10914 [...] a debate brewing on the state of startup funding in [...] [...] a debate brewing on the state of startup funding in [...]

]]> By: Ray Brooks http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10821 Ray Brooks Wed, 02 Jan 2008 21:17:45 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10821 I argue that our focus should be on the credit crunch, caused by the sub-prime loan debacle. The losses sustained by the major Banks and Financial Institutions significantly reduced their capital. Reduced credit availability, which have a higher cost, is one effect. Higher barriers to entry into the financing market is another effect. This impacts Canadian high tech entrepreneurs, who compete for scarce capital. The consequence may be higher quality investments (measured in terms of lower risk, higher returns) but at the cost of excluding new start ups that would otherwise gain finance. I argue that our focus should be on the credit crunch, caused by the sub-prime loan debacle. The losses sustained by the major Banks and Financial Institutions significantly reduced their capital. Reduced credit availability, which have a higher cost, is one effect. Higher barriers to entry into the financing market is another effect. This impacts Canadian high tech entrepreneurs, who compete for scarce capital. The consequence may be higher quality investments (measured in terms of lower risk, higher returns) but at the cost of excluding new start ups that would otherwise gain finance.

]]> By: ashkan karbasfrooshan http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10817 ashkan karbasfrooshan Wed, 02 Jan 2008 20:45:19 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10817 The discussion began with the statement "Canada needs a Peter Thiel to rewrite the rules of VC investing"... To which I answered "by the time we come close to having one, they are gone to places where entrepreneurship and risk taking are welcome and encouraged". So in all fairness, we definitely should compare Montreal to other cities and Canada to other countries because that is where the best and brightest go. More importantly, we should stop patting ourselves in the back despite poor track records. Montreal is ridiculous for its "big dreams but small mentality". For example, this summer the city tried to spin getting the United Nations HQ to come here from NYC even though the UN itself was saying "thanks, but no thanks" and the Quebec government was saying that if you don't speak French you should not be able to vote. There's a small problem with pretending to be big leagues or aspiring to be a major global city, you actually have to back the talk and walk the walk. The discussion began with the statement “Canada needs a Peter Thiel to rewrite the rules of VC investing”…

To which I answered “by the time we come close to having one, they are gone to places where entrepreneurship and risk taking are welcome and encouraged”.

So in all fairness, we definitely should compare Montreal to other cities and Canada to other countries because that is where the best and brightest go.

More importantly, we should stop patting ourselves in the back despite poor track records.

Montreal is ridiculous for its “big dreams but small mentality”. For example, this summer the city tried to spin getting the United Nations HQ to come here from NYC even though the UN itself was saying “thanks, but no thanks” and the Quebec government was saying that if you don’t speak French you should not be able to vote.

There’s a small problem with pretending to be big leagues or aspiring to be a major global city, you actually have to back the talk and walk the walk.

]]> By: Dave Forde http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10806 Dave Forde Wed, 02 Jan 2008 18:46:01 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10806 I agree it is NOT lame, and that is part of the problem, people keep crapping on progress! Bottom line there needs to be more action and less talking. Stop trying to compare Canada to other places, stop trying to compare Toronto or Montreal and just get you axx in gear, "Just Do It" I agree it is NOT lame, and that is part of the problem, people keep crapping on progress! Bottom line there needs to be more action and less talking. Stop trying to compare Canada to other places, stop trying to compare Toronto or Montreal and just get you axx in gear, “Just Do It”

]]> By: AG http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10795 AG Wed, 02 Jan 2008 16:26:39 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10795 The research body ranked Canada fourth from the bottom in terms of innovation, saying Canada's "failure to innovate" largely explains "a mediocrity that is hampering what we can do and what we can be." "We're not a risk-taking country because of our history, because of our nature, whatever," Golden said. Read more: http://www.cbc.ca/money/story/2007/06/13/report-economy-070613.html More risk takers, and technology-knowledge start-up operations in Venture Capital funds could improve Canadian performances. Today business plans are old-fashioned. You need to move fast, and see beyond factual and analytical data. The research body ranked Canada fourth from the bottom in terms of innovation, saying Canada’s “failure to innovate” largely explains “a mediocrity that is hampering what we can do and what we can be.” “We’re not a risk-taking country because of our history, because of our nature, whatever,” Golden said. Read more:

http://www.cbc.ca/money/story/2007/06/13/report-economy-070613.html

More risk takers, and technology-knowledge start-up operations in Venture Capital funds could improve Canadian performances. Today business plans are old-fashioned. You need to move fast, and see beyond factual and analytical data.

]]> By: ashkan karbasfrooshan http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10667 ashkan karbasfrooshan Tue, 01 Jan 2008 21:50:04 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10667 hey Heri and Mark, If you see my comments, nowhere does it say "tech startups in Canada are lame". I said *financing* for tech and new media startups is lame. Mojo Supreme (WatchMojo.com) is the first company I start but I have worked at two rather successful and VC-funded consumer web startups. Neither company was lame or lacking in ambition, but despite the relative successes each company had, both companies fell far short of their potential. The main reason was because the city and country's financiers did not share the risk-taking, business sense and vision of the founders, entrepreneurs, management and employees. Ash hey Heri and Mark,

If you see my comments, nowhere does it say “tech startups in Canada are lame”.

I said *financing* for tech and new media startups is lame.

Mojo Supreme (WatchMojo.com) is the first company I start but I have worked at two rather successful and VC-funded consumer web startups.

Neither company was lame or lacking in ambition, but despite the relative successes each company had, both companies fell far short of their potential.

The main reason was because the city and country’s financiers did not share the risk-taking, business sense and vision of the founders, entrepreneurs, management and employees.

Ash

]]> By: Heri http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10666 Heri Tue, 01 Jan 2008 21:48:10 +0000 http://montrealtechwatch.com/2008/01/01/startupping-in-canada-is-lame-or-not/#comment-10666 hey Mark Well by Canadian bloggers i was refering to Ashkan's post. I saw David Crow is optimistic too hey Mark
Well by Canadian bloggers i was refering to Ashkan’s post. I saw David Crow is optimistic too

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