Course introduction / Finding and validating your idea

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Visit us at marsdd.com

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

The Mars centreSeptember

20142

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Discovery of Insulin

September 2014

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

MaRS: Urban Innovation Hub

September 2014

Linking creative & business assets of Toronto

Discovery District

Financial District

Creative & Arts District

Gardiner Museum of Ceramic ArtRoyal Ontario MuseumWomen’s College

The MaRS CentreUHN Toronto GeneralHospital for Sick children

Entertainment District

Four Seasons Centre

University of Toronto

UHN Princess MargaretMount Sinai

Art Gallery of Ontario

Royal Conservatory of Music

TIFF & OCADU

Financial District

Toronto RehabRyerson University

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future MattersSeptember

2014

Innovation Platform Levers

VENTURES

Support high-impact ventures from startup to scale with advice & mentorship, as well as

access to capital, customers and talent.

Acceleration

INNOVATION PLATFORM & PLACEBolster our organization, brand and outcomes.

Build our hub and capacity to strengthen our community.

SYSTEMS

Scale and diffuseinnovation through

collaborative initiatives that open

markets for emerging companies and

create new solutions in key sectors.

Scale

TALENT

Equip Canadian innovators,

entrepreneurs and intrapreneurs with the

skills, tools, intelligence and

networks they need to succeed.

Capacity

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future MattersSeptember

2014

Canada’s largest in-person and online entrepreneurship education centre

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Entrepreneurship Programs

September 2014

2,500,000+Views of articles and workbooks

Entrepreneur’s Toolkit and Programs

www.marsdd.com/toolkit

50,000+People trained through MaRS entrepreneurship programs

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Building Growth Companies

September 2014

Acceleration Programs for High Growth Firms

Business Advice & Mentorship

EntrepreneurshipEducation

Market Research Access to Capital

High Growth Firms

Networks | Talent | Customers | Partners

Networks | Talent | Customers | Partners

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Capital raised by MaRS ventures

Source: annual venture survey results, 2011 administered by deloitte; 2012 and 2013 administered by KPMG

September 2014

$277M$277M$349M$349M

$451M$451M

2011 2012 2013

>$1 Billionraised in the last 3 years(78% from private sources)

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Advanced EnergyCentre

Solutions Lab

Centre forImpact InvestingCapital Solutions New Economy:

The Future of Work& Learning

The Future of Energy

The Future of Health

Systems Innovation: Driving impact

September 2014

EXCITE

Data CatalystData & Evidence

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters September 2014

2,000

Annual Events and Meetings

100,000

Annual Attendees

1,000

International Delegations

2,500

People at Work

LIFE @ MaRS

PLATFORM & PLACE

STRATEGIC PILLAR 4

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


• Innovation and entrepreneurship drive productivity and global competitiveness

• The majority of new jobs in modern economies are created by firms that are less than 5 years old

• 4-10% of startups become high growth firms – they create most new jobs, and they create them faster

Why does this matter?

04/08/23

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Innovation - defined“..is the implementation of a new or significantly improved product, or process, a new marketing method, or a new organisational method in business practices, workplace organisation or external relations” Source: OECD/Eurostat, 2005

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Entrepreneurship - defined

Howard Stevenson, Harvard Business School

“Entrepreneurship is the pursuit of opportunity beyond resources controlled”

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Visit us at marsdd.com September 2014

The problem is…

Globe and Mail“Canada slips further in innovation rankings”

Financial Post“Canada’s economy on ‘path to mediocrity’ as innovation lags”

Int’l Institute for Mgmt Development“Canada ranks 23 of 33 developed economies in productivity”

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Canada’s Competitiveness Suffers

Canada’s Rank•9th in 2009•14th in 2013

Source: The 2013-14 Global Competitiveness Report

“When it comes to business innovation, Canada is seriously underperforming. Canada actually fell four places in factors related to innovation and business sophistication, and that’s a real concern”

World Economic Forum

Conference Board of Canada

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Inventions don’t make it to market…

“Study after study points to the fact

that Canada is an innovation laggard..

….I believe that the reason so many

products built in the lab don’t make it to

the market is that their sponsors can’t

or don’t know how to demonstrate that

there is a market for them.”

Len Waverman, Dean, DeGroote School of Business, October 22, 2013

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Tell us why you are here!

Who’s got a business that they are working on?

Who’s working on a product?

Who’s got neither but is curious about entrepreneurship?

04/08/23

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Don’t have an idea?

First – acquire new insights:

•Read

•Watch TED (and don’t watch the news)

•Read market research/stats – tells a story of change

•Meet smart folks (insights/reflections)

Then - slow down the brain:

•Meander/percolate (– do something else – listen to music, walk, run, swim, climb, make food, clean, fix your car)

04/08/23

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Visit us at marsdd.com 04/08/23

Customers

BusinessImpact

Idea / Solution

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


• Introduction to Entrepreneurship 101/Finding and Validating your Idea

• Lived It Lecture (Alex Kroon)

• Different Types of Entrepreneurship

• Introduction to Entrepreneurial Management

• Customer Discovery and Market Intelligence

• Value Proposition

• Product Development

• Meet the Entrepreneurs – Social Innovation

Map your Journey

April 8, 2023

Entrepreneurship 101

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Customers

BusinessImpact

Idea / Solution

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


• IP Management

• Business Model Canvas

• Business Plan and Other Communication Tools

• Meet the Entrepreneurs – Information and Technology Communications (ICT)

• Lived It Lecture

Model

April 8, 2023


Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Customers

BusinessImpact

Idea / Solution

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


“The purpose of business is to create a customer”Peter Drucker, The Practice of Management

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


• Marketing Communications/B2C Sales• Networking for Entrepreneurs• Sales (B2B)• Negotiations• Contract Manufacturing• Meet the Entrepreneurs – Cleantech

Market

April 8, 2023


Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Customers

BusinessImpact

Idea / Solution

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


• Selecting Your First Board of Advisors

• Financial Planning/Budgeting

• Recruiting and Building a Founding Team

• Entrepreneurial Leadership: Building and Managing a Team

Management

April 8, 2023


Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Customers

BusinessImpact

Idea / Solution

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


• Lived It Lecture

• Bootstrapping and Alternate Sources of Funding

• Crowdfunding & Equity Crowdfunding

• Meet the Entrepreneurs – Health

• Raising Money from Venture Capitalists

• 360 Panel on Venture Capital Funding

• The Pitch

Money

April 8, 2023


Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


60 Second Networking Break

Turn to the person next to you introduce yourself.

ASK:

1. What are you working on? 2. Why you’re here?

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Entrepreneurial Risk

04/08/23

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


Planning & Entrepreneurship

04/08/23

“Everybody has a plan until they get punched in the mouth”

Mike Tyson

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

It’s an iterative process

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Key Principles

• Launching a new venture is not like running an established business

• Established business execute a known business model

• New ventures search for a business model

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Startups vs Companies

Startup Phase

Scaling Phase

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

The 3 stages of the search process

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Startup Phase Overview

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Before you get sucked-in…..

04/08/23

Think about the impact on your life:

•If you have family: Discuss impact on family life, how you spend time, relationship between spouses•Money: how much are you putting towards it, are you committing other resources; such as house as collateral for loan. What is cut bait?•End game: what happens if you make a profit, gets bought out – what to do with money

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Benefits of Entrepreneurship

• Most important: You change yourself - you get to apply your skills and talent, you have fun, learn & grow as a person

• Money: you create wealth

• People: you create jobs and careers

• Impact: you make something happen

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts

Our Future Matters

Develo

pin

g ta

len

t • G

row

ing

ven

ture

s • O

pen

ing

marke

ts


THANK YOU!

Because the future matters

INNOVATION