What are they talking about?

Everyone has their own opinion and here is where you can read what they are. These are blog posts, not necessarily endorsed by anyone – except the team member who wrote them!

Web Startups in Montreal

06 03.09

We’ve been pretty quiet on the blogging front recently. Whilst I can assure you that doesn’t mean we haven’t been doing anything – perception is reality !

The truth is that we’ve already made two more investments this year – giving us a total of 10 companies in our portfolio – and if we keep this rate up we will have invested our first fund in about six more months !

Most of our companies are still in development or beta so we aren’t trying to raise their profile yet but but over the next few days I’m going to give a quick shout-out to the companies we have backed so far.

To get the ball rolling i’ll start with the companies that we have announced:

Standout Jobs has developed a Saas platform that powers and centralizes companies’ online recruiting efforts. The company is being driven by Montreal tech community activists (Instigators) Ben Yoskovitz and Fred Ngo.

Akoha is a developer of online and real-world social games designed to make the world a better place. Alex Eberts and Austin Hill (the quiet guy in the background ;-) ) are Akoha’s Founders.

We quietly announced our investment in Evan Prodromou’s latest startup Identi.ca. Having started both Wikitravel and Vinisimo, Evan has proven his abilities to build communities and execute open source/collaborative projects.

And here are a couple more of our yet to launch investments:

Keenkong is currently in private beta so why don’t you sign up to keep posted of developments. The company’s CEO, Olivier Berger, is bringing his six sigma training to the startup world – watch this space.

The Book Oven is also in private beta but it wouldn’t take a genius to work out that Stephanie Troeth and Hugh McGuire’s latest startup has something to do with books – it looks like they are working on something very appetizing!

Whilst doom and gloom may be all around us, we continue to be excited by the entrepreneurs we meet and by the strength of their ideas – and we are happy to keep funding the best of them ! 

There will be more shout-outs next week.

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Akoha (raises) opens the bar

29 08.08

Last night, Akoha gave a sneak preview of their product offering to a number of their friends, family and investors in Montreal (disclosure -  MSU is an investor).

The founders, Austin Hill & Alex Eberts (along with PR guru Dov) are no strangers to creating buzz and excitement about their projects and once again they made a splash – albeit the type of precision splash that you would see from a Chinese Olympic diver and not that of Shamu the whale !

A reasonable amount of money would have been spent on the event and as an investor in the company I can’t but help consider wether this was actually a good use of money. My conclusion is that it was; and that it achieved a few  things that any start-up entrepreneurs could consider as they launch their businesses.

1) When you’re sprinting the marathon – don’t forget the feeding stations.

When your legs, lungs and brain are fatigued but you realise you’ve only just started the marathon it’s great to see the 10km feeding station. A feeding station is designed to give you renewed energy, but it also marks another milestone on the race. The lungs, legs and brains of any start-up are of course its founders and employees and its essential to provide feeding stations along the way to motivate and re-invigorate the team.

The sneak peak event created an opportunity for the founders to put the whole team in the spotlight. Akoha hasn’t even launched yet but their sneak peak event felt like a celebration of success; as an investor I don’t see Akoha as a success (yet), but I can fully appreciate that as a team, coming together to deliver a product, they have successfully reached a major milestone.

I don’t think that Akoha is actually creating any real marathon runners, but last night a few probably felt like junior (tech) rock-stars.

2) Practice your pitch

I assume (obviously) Akoha intends on taking its pitch to the "world" at some point. That would probably involve presenting the company at a much larger event than the one last night. So their sneak peak event gave them a chance to practice their pitch in a realistic environment -  in-front of an audience with all the adrenaline flowing and nerves jangling (or in Alex’s case "Jango"ing).

Anyone at the event (including myself) would say that the presentation went really well, but the guys at Akoha know that to be the best you can’t be satisfied with "really well". You need to be outstanding – and as practice makes perfect, I think that a real-life test run is a valid investment of time and money. Its all about raising the bar.

3) You get out what you put in

By inviting the community to become "insiders" the sneak peak event has placed Akoha as one of the companies that everyone in Montreal will want to help. This help is invaluable to any start-up and I would encourage ALL start-up’s, early stage and venture backed companies to open up more to the Montreal community. It’s through the community that you will probably find your next employees, your next investors and perhaps even some of your most innovative ideas.

So to the Akoha team – thanks for a great night and good luck with the next 10km !

 

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Akoha

28 04.08

Akoha ont aujourd’hui annoncé avoir conclu une première ronde de financement. Bien qu’ils n’aient pas encore publiquement lancé leur produit, je peux vous dire que c’est basé sur l’idée qu’on peut faire le bien tout en s’amusant. C’est un projet ambitieux, tant au niveau de la technologie, que des concepts. MSU croit à ce beau projet et croit en cette talentueuse et dynamique équipe, c’est pourquoi nous sommes fiers d’être des investisseurs de la première heure.

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MSU invests in Akoha

28 04.08

Akoha, a Montreal based start-up founded by  Austin Hill and Alex Eberts announced today the closing of their angel financing round and we are really pleased to have been able to invest. 

Akoha’s plans are still somewhat under wraps but they have announced that they are developing a new type of online game that combines elements of social entreprenuership, massively multiplayer and reality based games.

Given Montreal’s leadership position in video and online game production it is no surprise that gaming innovation – in this case, social gaming – is emanating from here.

At MSU we are always looking for new ideas and smart, driven people to execute on them and as such Akoha ticked the boxes for us as an investment. As we have mentioned in previous blog posts, we also really want to support and encourage angel investing and so the other thing that really excited us about Akoha was the involvement of other angel investors (most of them from Montreal) who we could invest alongside.

We wish the Akoha team all the best as they develop what we are sure is going to be the next globally recognised brand that started life as a Montreal Start Up !

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