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!

More investment news for Montreal

Filed under Beyond The Rack, Investments, Marketing Dept, Oneeko, Press, Whatsnexx

09 03.09

Continuing with the shout-outs to the entrepreneurs in whom we’ve invested recently ……

Marc Lefrancois and Marek Krepec at Oneeko have recently (beta) launched the upgraded version of their software solution that enables "click-to-collaborate" screen sharing with the utmost simplicity.

We also have two previously unannounced investments.

Whatsnexx (no website yet) is building it’s business from some technology and talent that has been spun out of TSX listed Komunik. The software is still in development and more info will follow as the company comes out of development.

Yona Shtern and Robert Gold are the Founders of Beyond the Rack, Canada’s answer to Gilt or Vente Privée. The company offers its online members luxury brand clothing and accessories, via limited time "flash sale" events. This business model has proven to be extremly successful in Europe – to the point that we were able to attract european co-investors to invest "across the ditch".

With all this activity we had better spend some time putting our own pitch together so that we have some more money to invest in these "opportunity" filled times !

No Comments

Nouveau fonds pour le démarrage d’entreprises en technologie

Filed under Austin Hill, Events, Marketing Dept, Press, Reseau Anges Quebec, angel investing, role models

11 03.08

Le fonds bénéficiera de l’appui d’une vingtaine d’anges financiers et d’entrepreneurs montréalais qui ont réussi dans le domaine.

MONTREAL, Québec, 10 mars 2008 – Montreal Start Up, un spécialiste du capital de démarrage, dont la mission est d’appuyer les entrepreneurs montréalais qui bâtissent les succès de demain, a aujourd’hui annoncé le lancement d’un premier fonds de capital de risque de $3 millions, le Fonds-Soutien Montréal s.e.c. Parmi les investisseurs, on dénombre une vingtaine d’entrepreneurs et investisseurs montréalais qui ont connu du succès en affaires et l’appui considérable d’Investissement Québec.

Depuis 2005, près de $3 milliards de nouveaux capitaux ont été injectés dans l’industrie du capital de risque québécois; cependant, très peu de ressources sont allouées au financement et mentorat des jeunes entreprises. Le résultat final est que très peu de compagnies sont prêtes à recevoir du capital de risque et la plupart de ces nouveaux fonds ne sont toujours pas investis.

Démarrage Montréal investira temps et argent exclusivement auprès des jeunes entreprises. Elle mettra l’expertise que ses investisseurs ont accumulé en technologies de l’information, communications et medias au service des entrepreneurs qui bâtissent les succès de demain sur Internet, dans le sans-fil ou en multimédia.

“Bien que le Québec ne manque pas de capital de risque, Montreal Start Up se démarque en intervenant exclusivement à la phase de démarrage des entreprises. C’est une période où l’entrepreneur a autant besoin de conseillers de confiance que d’argent”, dit René Bousquet, associé chez Trio Capital et investisseur dans le fonds. “L’encadrement et l’appui financier initial du fonds permettront aux entrepreneurs de lancer leur compagnie et de valider son potentiel commercial. Ils seront ainsi en meilleure position pour obtenir du financement des fonds de capitaux de risque traditionnels.”

Austin Hill, un entrepreneur et ange financier qui siège sur le comité d’investissement de Démarrage Montréal, ajoute “Le logiciel libre, l’informatique sur demande et les outils de développement modernes font que beaucoup de jeunes entreprises sont capables de démontrer la viabilité de leur offre de service à partir d’un investissement initial modeste ».

“Si l’on veut collaborer étroitement avec des entreprises en démarrage, il est important de bien comprendre leur réalité” a dit John Stokes, associé principal chez Montreal Start Up, “Notre équipe de gestion et notre comité consultatif sont composés d’entrepreneurs chevronnés. C’est cette expérience que nous désirons mettre au service des entrepreneurs afin de les aider à bâtir la prochaine génération de compagnies montréalaises qui rayonneront mondialement. »

Jean-Sébastien Cournoyer, de Vantage Point Venture Partners et membre du conseil d’administration de Démarrage Montréal explique l’importance de la structure du fonds : « Dans les pôles technologiques les plus innovants, une partie importante du financement et du mentorat provient d’entrepreneurs devenus anges financiers suite à leur réussite en affaires. Historiquement, cette culture de réinvestissement a été faible à Montréal; la ville n’a donc pas profité des bienfaits qu’un pont entre les générations pouvait offrir. Cependant, le fait que des entrepreneurs appuient ce fonds de Démarrage Montréal montre que la culture d’investissement de notre ville évolue ».

Démarrage Montréal entend former des partenariats avec d’autres intervenants du milieu, tels les anges financiers, afin de former des consortium d’investissement et pour accompagner les jeunes compagnies jusqu’à ce qu’elles puissent être financées par les autres fonds de capitaux de risque québécois, créant ainsi des opportunités pour les capitaux non investis.

Les associés et conseillers de Montreal Start Up ont fondé ou occupé des rôles clés chez Terrascale, Microcell, Télésystème, AskMen.com, Génération Flash, RadialPoint, Canoë.ca, BCE, Nortel FremantleMedia, Rogers et Hewlett Packard entre autres. Les associés sont John Stokes, Alan MacIntosh, Jean-Sebastien Cournoyer, Austin Hill et Daniel Drouet.

À propos de Montreal Start Up
Fondé en 2007, Montreal Start Up est un spécialiste du capital de démarrage dont la mission est d’appuyer les entrepreneurs montréalais lors du lancement de leurs entreprises. Les investissements privilégieront les services innovants à base de logiciel dans les secteurs d’Internet, du sans-fil et du multimédia.

No Comments

New seed capital fund for Montreal’s technology entrepreneurs

Filed under Austin Hill, Marketing Dept, Press, Reseau Anges Quebec, angel investing, startup

11 03.08

Fund aims to capitalize on the committed support of twenty of Montreal’s most successful entrepreneur and angel investors.

MONTREAL, Quebec, March 10, 2008 – Montreal Start Up, a venture investor dedicated to supporting Montreal based entrepreneurs in their quest to create and build successful companies, today announced the closing of its $3 million venture capital fund, Fonds Soutien Montreal s.e.c, the first of a number of funds it plans to establish. Participating in the fund are twenty of Montreal most successful entrepreneurs and investors, complemented by strong support from institutional investor, Investissement Quebec.

Whilst almost $3 billion of new capital commitments have poured into Quebec’s venture capital industry since 2005, the limited availability of funding and mentoring for seed stage opportunities has led to a drought of venture ready companies; as such, much of this capital remains un-invested.

Montreal Start Up will focus on deploying seed and advisory capital into early stage opportunities. By leveraging its capital with its investor base’s experience in building successful information technology, communications and media companies, it will be able to nurture ambitious internet, wireless and multi-media entrepreneurs in their quest to become venture ready.

“Whilst Quebec is not short of venture capital, Montreal Start Up is distinct in that it focuses exclusively on funding very early stage startups. This is the stage when entrepreneur’s financial needs are often smaller than their needs for strategic input or operational support.” said Rene Bousquet, a Partner at Trio Capital and an investor in the Fund. “By providing enough funds to allow a company to launch its offering and show initial signs of success, the company will be much better positioned to raise capital from more traditional VC’s.”

Austin Hill, a serial entrepreneur and angel investor who sits on Montreal Start Up’s investment committee added, “With the availability of open source software, utility based computing and simplified software development tools, many start-ups do not require substantial venture funding to prove their ability to gain market traction.”

These recent innovations in the startup environment, coupled with the energy coming from within the local Montreal technology community have created an opportunity on which Montreal Startup intends to capitalize.

“Working so closely with start up companies it is essential that Montreal Start Up embodies the entrepreneurial spirit.” commented John Stokes, managing partner, Montreal Start Up. “With a management team and advisory board full of battle hardened entrepreneurs we understand the risks associated with starting businesses, but intend to harness our collective experiences to create Montreal’s next generation of globally successful companies.”

Jean-Sebastien Cournoyer, Entrepreneur in Residence at Vantage Point Venture Partners and Montreal Start Up board member explained the precedent being set by the fund’s structure, “In the world’s most vibrant start-up hubs a significant amount of funding and mentoring comes from successful entrepreneurs turned angel investors.” he stated. “Montreal has traditionally lacked this culture of reinvestment and thus not benefited from this valuable bridge between aspiring startup entrepreneurs and some of the city’s most successful technology executives; the structure of Montreal Start Up’s entrepreneur backed venture fund provides a visible sign that the investment culture of our city is evolving”.

In addition to working with those individuals who have invested directly into the Fund, Montreal Start Up has committed itself to forming partnerships with other members of Canada’s venture eco-system:
• Co-Investment Partnerships; Its professional investment team will actively structure investment consortiums that will include angels and early stage investors.
• Venture Partnerships: Seed and advisory capital will be deployed to nurture companies for other venture capital funds operating in Quebec and thereby create opportunities to unlock and deploy the provinces un-invested capital.

Composed of former operational executives with entrepreneurial experience, Montreal Start Up’s partners and advisory board have held top roles at companies including Terrascale, Telesystem, AskMen.com, Generation Flash, Fox Interactive Media, Microcell, RadialPoint, Canoe.ca, BCE, Nortel, FremantleMedia, Rogers and Hewlett Packard. The firm’s general partners are John Stokes, Alan MacIntosh, Jean-Sebastien Cournoyer, Austin Hill and Daniel Drouet.

About Montreal Start Up
Founded in 2007, Montreal Start Up is a venture investor committed to supporting Montreal based entrepreneurs and their companies during their start-up phase, with the investment focus being on companies developing innovative software based services in the Internet, wireless and multi-media sectors.

4 Comments

We’re in stealth mode!

Filed under Marketing Dept

17 02.08

Anyone one who knows us well may have wondered why our friend Roberto Rocha described MSU in yesterday’s Montreal Gazette as:

"…an agency that encourages successful entrepreneurs to become angel investors."

Whilst this is accurate (and provides material for another blog post, to come shortly), it’s not the full story … because we are in stealth mode !

For those who didn’t catch the post on companies in stealth mode, you will know that I think operating in stealth mode means 1 of 3 things:

  • You haven’t quite worked out what your doing.
  • You think your idea is so amazingly great and original that if anyone heard about it they would immediately drop what they are doing and do the same.
  • Your project needs hype to have an impact and you don’t want to water down your marketing impact when you actually do launch.

One of the above is correct and when we come out of stealth mode we will take a vote on which one of the above our readers think is correct!

(If you do know what we are up to you are probably one of our "insiders" – so keep it to yourself as we don’t want break our stealth mode quite yet!)

2 Comments

2008 – The Year of the Individual !

Filed under Marketing Dept, role models, startup

03 01.08

The start of a new year is often seen as both a time for reflection and for looking to the future.

On reflection I recognise two major movements in Montreal in 2007:

  • The "self activation" of Montreal’s entrepreneurial community – primarily through Barcamps, Democamps and Tech Breakfasts.
  • The closing of the gap between the franchopone and anglophone entrepreneurial communities.

As others have commented we have come a long way in a short amount of time and this progress is both exciting and encouraging for Montreal and also for Canada.

Looking forward, I implore Montreal’s new wave of entrepreneurs, angel investors and VC’s to work hard, work fast and work smart.

There are a few things that I would like us to try and keep in mind as we push on into 2008:

  • We are not the first to face any given problem – but realising that it is a problem means that at least we now have an opportunity to do something about it.
  • We will not achieve great success by working in a vacum:
    • Life is a competitive process – decide if you are training to win the New York marathon or finish a sponsored 5K fun run. Both are worthy goals but each requires a different levels of commitment .
    • Life is a collaborative process – helping other people achieve their goals does not necessarily hinder you achieving yours. Surround yourself with worthy training partners that will push and motivate you to do more.
  • Make decisions ! Some people succeed, some people fail and some people drift along in between. Drifting is the worst option of the three (and it is an option you chose). Be prepared to fail at something so that you then have the time to succeed at something else.
  • Time does not stand still so don’t be fooled into thinking that "quality of life" is a substitute for hard work – it is a product of it !
  • And for those entrepreneurs trying to launch a new business in 2008 – please remember, if everyone says it looks like a dog and sounds like a dog …. but don’t seem to want to pat it … then perhaps its not a dog (and that’s not a good thing)!

On a final note, a city is only as good as its people make it.

When we talk about "Montreal" needing this or that we must remember is that is is individuals who must make decisions and individuals who must take actions in order to  fulfill these needs – and its not "Montreal" who benefits from these individuals actions – its other individuals !

I know many individuals who have contributed to the successes of 2007, but I know many more who have already agreed to contribute more in 2008 – so to all of those individuals and any others that are so inspired to contribute – THIS IS YOUR YEAR !

 

 

No Comments

Stealth Start-up’s in an Open Source World

Filed under Marketing Dept, startup

14 12.07

I hadn’t heard anyone talk about a “Stealth Start-Up” for a month or two but when someone recently used the term to describe the current stage of their internet based business (or should I say project) I once again chuckled.

“Why chuckle?” you ask.

Well – to want or need to operate in stealth mode means 1 of 3 things:

  • You haven’t quite worked out what your doing.
  • You think your idea is so amazingly great and original that if anyone heard about it they would immediately drop what they are doing and do the same.
  • Your project needs hype to have an impact and you don’t want to water down your marketing impact when you actually do launch.

    • So let’s analyze these possibilities to see if we can find where the chuckle comes from.

    Reason One
    Anyone who would give this reason thinks too little of themselves, or too much of who they are speaking to, to say that they are not actually doing anything solid at the moment.

    Reason Two
    Anyone who gives this reason fails to understand that there are 6 billion people in the world and that someone else, somewhere else, has the same idea and that one needs all the help and input possible in order to make sure that the execution and distribution of your product or service is better than that being delivered by someone else, somewhere else.

    Reason Three
    Anyone who gives this reason must think the whole of the world is constantly waiting and looking for the product or service they are delivering. If this was the case then I wouldn’t worry about watering down a marketing message!

    Most products and services on the net these days have a shareware or open source version. People don’t pay for ideas – they pay for products or services – and these require execution. Execution can’t be done in a vacuum and thus I am hard pressed to find a situation where stealth mode is ever the best way to operate.

    Can anyone enlighten us as to why stealth is best?

    6 Comments

    Où sont les femmes

    Filed under Ideas Dept, Marketing Dept

    19 09.07

    Dernièrement j’ai entendu parler d’une startup qui venait de recevoir du financement pour offrir conseils et produits de beauté/santé en ligne. Ça semblait évident comme marché, mais je n’y avais jamais pensé. C’est à ce moment que je me suis rendu compte qu’aucun des plans d’affaires qu’a reçu MSU ne ciblait les femmes. Pas un seul des entrepreneurs qui nous a contacté n’était une femme (Correction: en fait une femme entrepreneure nous a contacté, Christina Tomaz-Young de VC-TV. Mille excuses Christina). Aucun des investisseurs potentiels qu’on a rencontrés n’était une femme. Et bien que je suis loin d’avoir fait le tour du milieu, jusqu’à présent je n’ai rencontré que deux femmes impliquées dans le financement de démarrage pour entreprises en technologie et les deux géraient des fonds publics.

    Cela fait longtemps que le problème est connu. Il existe plein de programmes pour encourager les filles à choisir des carrières en sciences pures et en ingénierie et prévenir leur décrochage. Malgré cela, en génie électrique à McGill lorsque j’y étais, les femmes ne comptait que pour 18% des étudiants du premier cycle. A l’époque je croyais que ça affecterait seulement la façon dont l’ingénierie se ferait. Mais je soupçonne maintenant que ça a un impact bien plus grand. Si les femmes sont sous-représentées lors de la conception des produits et si elles ne participent pas à la décision de financer les nouvelles initiatives, l’offre de nouveaux produits et services technologiques peut-elle vraiment répondre à leurs besoins? N’y aurait-il pas là une belle opportunité commerciale?

    C’est toujours un plaisir pour John et moi de rencontrer des entrepreneurs, mais ce sera un plaisir particulier de parler affaires avec des entrepreneures. Alors mesdames, qu’attendez-vous?

    10 Comments

    Congratulations to Standout Jobs and Garage Canada and Austin Hill !

    Filed under Austin Hill, Garage Canada, Marketing Dept, Standout Jobs

    15 06.07

    We have been a bit pre-occupied recently and so we are rather late in saying this – but it is still worth saying !

    MSU is determined to see Montreal become an Entrepreneur-Centric Environment (EPCE) and the funding of talented entrepreneurs by both Angel Investors and traditional VC’s is a watershed in the development of Montreal as an EPCE.

    What do we mean by an EPCE? We mean an environment which is conducive to the establishment and growth of entrepreneurial enterprises – an environment full of people who aspire to use their talent, people who aspire to fund that talent, and who together aspire to create great businesses.

    EPCE_Diagram

    Fig 1. An Entrepreneur-Centric Environment

    With Standout Jobs we have two talented entrepreneurs who aspire to create a great company, mentored and funded by a more experienced entrepreneur / Angel Investor. In turn this has provided an opportunity for an early stage VC investor to invest in a promising Montreal business – a great example of the benefit of a multi-tiered funding environment.

    The jury is still out on whether StandOut Jobs will be a success, but should they succeed or fail it is important that other entrepreneurs, angel investors and VC’s recognize and applaud the achievements of everyone involved to date in this business and aspire to be involved in the building of other great businesses.

    2 Comments

    Montreal – Better, Stronger Faster – we can rebuild her !*

    Filed under HR Dept, Marketing Dept

    26 04.07

    Whilst my(our) focus at Montreal Start Up is the growth and subsequent success of Montreal’s tech entrepreneur community, I am also very supportive of any initiative which improves the quality of life in the city. As an (uneducated) appreciator of good urban design I am particularly interested in initiatives that improve the aesthetics of the city.

    One of my pet peeves with Montreal is the amount of graffiti everywhere. I walked through Square Victoria the other day following a student protest against proposals to charge for higher education. As the protesters walked away I noticed grafitti scrawled In the middle of this well restored area – “education gratuite” (this person certainly needs some sort of education and I’d be willing to pay for it !). One month later it’s still there ! The statue at the foot of Mount Royal has just been refurbished to its former glory – almost as soon as it was finished some idiot has climbed up the statue and scrawled graffiti on that too.

    Much has been written on solving these issues so i won’t go on too much, suffice to say I support the “broken windows” theory:

    The germ of the idea is simple and compelling. A broken window–or a littered sidewalk, a graffito, or what you like–does no great harm to a neighborhood if promptly addressed. But left untended, it sends a signal: that no one cares about this neighborhood, that it is a safe place to break things, to litter, to vandalize. Those who engage in such behaviors will feel safe here.

    On a more positive note I was very pleased to see that a new initiative was launched last week to redevelop much of the land around the grain silos in the Old Port.

    The vision is a harbourfront area that is a popular urban space that will make Montréal a better place in which to live, work and play. This will also help make Canada’s economy stronger. The vision is driven by four objectives:

    Healthy and prosperous cities and communities;
    Clean-up of contaminated land and sustainable urban development;
    Respect for all levels of government and the interests of third parties;
    Economic vitality.

    The vision is to be achieved by:

    Transferring several federal properties to the Canada Lands Company (CLC) to rehabilitate some 4.8 million square feet (448,242 square metres) of federal land, (three times the size of the Montréal Convention Centre) in order to fully realize the area’s potential.
    Making Montréal’s harbourfront a greener, cleaner and more welcoming area for businesses, residents and tourists.

    Complacency is always a dangerous state of mind, whether it be with respect to “a successful business”, a “well-balanced way of life”, a “safe environment in which to raise kids”. The Montreal tech community, with prodding from a few key individuals, seems to have grasped this and has motivated itself to improve and grow. As members of the community at large we should be spreading the message our experience has shown us – that a little bit of action can go a long way to creating a more positive, dynamic community.

    *(Steve Austin is … the 6 Million Dollar Man.)

    2 Comments

    Archives

    Twitter: msu