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DEVELOPIN
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Visit us at marsdd.com
DEVELOPIN
G T
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OPENIN
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Visit us at marsdd.com September 2014
DEVELOPIN
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Visit us at marsdd.com
Course overview
Being an entrepreneur
Stages of a startup
Working with MaRS
Agenda
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» Chris Draper, CEO & Founder, OStheorey
» Jon E. Worren, EIR & Sr. Director, Entrepreneurship Programs, MaRS
» Krista Jones, Cluster Lead, Education Technology, MaRS
Speakers
Our Future Ma;ers
DEVELOPIN
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HISTORY OF DISCOVERY
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Our Future Ma;ers. Build the new economy. Improve society.
September 2015
MaRS works with partners to catalyze, accelerate, scale and diffuse innovation. We help entrepreneurs start and grow successful global companies. Together, we help Canada prosper.
Our Future Ma;ers
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ENTREPRENEURSHIP PROGRAMS
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Entrepreneurship 101
50,000 In person
Online
100,000 Satellite Centres
10
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“Most of what you hear about entrepreneurship is all wrong. It’s not magic; it is not mysterious; and it has nothing to do with genes. It’s a discipline and, like any discipline, it can be learned.”
—Peter Drucker
Can entrepreneurship be taught?
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Entrepreneurship 101 is a 30-week course:!
o Lectures on key topics related to taking innovations to market"
o ‘Lived It Lectures’ with celebrated entrepreneurs
o ‘Meet the Entrepreneurs’ panels with sector-specific entrepreneurs
o ‘Up-Start! Competition’ business pitch competition
Course Overview
DEVELOPIN
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Visit us at marsdd.com September 2014
DEVELOPIN
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1. Testing ideas and turning them into a business
2. Defining a business model and protecting ideas 3. Identifying and entering the right market
4. Managing finances and building a team 5. Funding your business
Modules
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o Live webcasts: marsdd.com/ent101-webcasts "
o Past videos, articles and downloadable workbooks: marsdd.com/ent101-online"
o Stay connected: Entrepreneurship 101 LinkedIn Group o Weekly e-newsletters: summary blog, lecture video, related resources
o iTunes U: post questions and participate in discussions
o Other programming: Best Practices, Workshops and more
Resources
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Success Stories
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“…I was learning something applicable to my own project and job through most of the lectures. I intent to take the program again next year”
Is this course for you?
“I enjoyed the Lived It lectures. They were particularly useful to me in confirming my decision to pursue my ideas.”
“…Networking with other professionals who may be able to provide mentorship is definitely a great advantage.”
"Great opportunity to meet people with similar ambitions!”
are startups right for you?Master of your own fate:
STHEORYINNOVATION CONSULTING
Chris Draper ceo/founder
We all know that
That founders and co-founders are the new rock starsBut what is the job really like?How do you start one?But the first question you should ask is do you really want to start a company?
The Truth, The Ugly Truth And Why You Should Do It Anyway
"You are master of your own fate. Act like it." - Steve Blank
beforestartup
initial enthusiasm
experimenting and pivoting
reality sets in
starts working
scale
product market fit!
happ
iness
trough of sorrow
Your happiness on startups
Startup myths?
Learning to see
"Startups are all created by 18 year old genius sole inventors"
"It’s all about execution" or "your ideas suck"
"The customer is always right"
Things I wish I knew...
• You are going to fail
• Don't spend time writing a business plan
• Spend a lot of time getting the founding team right
• You'll need to do it all yourself in the beginning
• Never wait for permission
• Get ready for rejection and lots of it
• It's really hard to get new customers
Words of (startup) wisdom1 Do not feel absolutely certain of anything.
2 Do not think it’s worthwhile to proceed by concealing evidence, for the evidence is sure to come to light.
3 Never try to discourage thinking, for you are sure to succeed.
4 When you meet with opposition, endeavor to overcome it by argument and not by authority, for a victory dependent upon authority is unreal and illusory.
5 Have no respect for the authority of others, for there are always contrary authorities to be found.
6 Do not use power to suppress opinions you think
gradual or subtle way), for if you do the opinions will suppress you.
7 Do not fear to be eccentric in opinion, for every opinion now accepted was once eccentric.
8 Find more pleasure in intelligent dissent than in passive agreement, for, if you value intelligence as you should, the former implies a deeper agreement than the latter.
9 Be scrupulously truthful, even if the truth is inconvenient, for it is more inconvenient when you try to conceal it.
10 Do not feel envious of the happiness of those who live in a fool’s paradise, for only a fool will think that it is happiness.
Bertrand Russell 6
Thank-you
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IDEA PROBLEM TECHNOLOGY VALIDATION SOLUTION
COMPANY
GET CUSTOMERS
LEARNING
EFFICIENCY BUSINESS MODEL SCALING
FUNDING SALES & MARKETING
FUNDING FUNDING
GROWTH
PROFESSIONAL ORGANIZATION
IP
FUNDING
Startup trajectory
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IDEA
TECHNOLOGY VALIDATION
PROBLEM
SOLUTION
BUSINESS MODEL
EFFICIENCY
SCALING
RISK
TIME
De-risking MOMEN
TUM
CULTU
RE
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Our Future Ma;ers
VENTURES
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Our Future Ma;ers
Capital raised by MaRS ventures
S O U R C E : A N N U A L V E N T U R E S U R V E Y R E S U L T S , 2 0 1 1 A D M I N I S T E R E D B Y D E L O I T T E ; 2 0 1 2 A N D 2 0 1 3 A D M I N I S T E R E D B Y K P M G
$277M $349M
$451M
2011 2012 2013
>$1 Billion raised in the last 3
years
(78% from private sources)
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Our Future Ma;ers
Revenues generated by MaRS ventures
S O U R C E : A N N U A L V E N T U R E S U R V E Y R E S U L T S , 2 0 1 1 A D M I N I S T E R E D B Y D E L O I T T E ; 2 0 1 2 A N D 2 0 1 3 A D M I N I S T E R E D B Y K P M G
$146M $161M
$201M
2011 2012 2013
>$500 Million generated in the last 3
years
(78% from private sources)
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Our Future Ma;ers
A Diverse Set of Startup Founders
S O U R C E : 2 0 1 3 V E N T U R E C L I E N T S U R V E Y A D M I N I S T E R E D B Y K P M G
Gen
der,
N=789
20% MaRS venture clients have a female founder
AGE, N=767
Country of Birth, N=718
Experience, N=789
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Our Future Ma;ers
Focus on Key Sectors
Venture Services Groups
Health
Cleantech ICT
Life Sciences & Healthcare
§ Therapeubcs § Medical Devices § Digital Health § Consumer Health & Wellness
Informabon & Communicabons Technology § Financial technologies § Media & entertainment § Retail & digital commerce § LegalX § Work & Learning
Cleantech & Physical Sciences § Energy § Advanced materials/advanced
manufacturing § Water § Agri-‐tech § Smart City
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Our Future Ma;ers
Venture Services Sectors
September 2014
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Our Future Ma;ers
MaRS Venture Services
Technical Advisory Business Advisory Financial Advisory
Community Building/Events
Market Intelligence Partnership Development
Co-‐Working Facility Execubve/Professional
Development
Talent Development
Corporate Innovabon Global Sog-‐Landing Market Development Programs
(Clusters)
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Our Future Ma;ers
Investors in our Network
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Our Future Ma;ers
Corporates in our Network
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Eligibility for Venture Services
September 2014
Your Startup Team
Product
Intellectual Property
Business Model
TracKon
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Our Future Ma;ers
Apply to Venture Services
September 2014
Contact Us: [email protected] [email protected] [email protected]
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Our Future Ma;ers
• Community • Learning • Connecbons •