Evolving the Innovation EcosystemJuly 2018

Welcome

Cheryll Watson

Vice President, Innovate Edmonton

Edmonton Economic Development

Agenda

2:35-3:00 Community Mandate, Bruce Alton

3:00-4:00 Startup Genome presentation, JF Gauthier (via Zoom)

4:00-4:40 Startup Commons Methodology, Chris Lumb

4:40-5:00 Innovation HUB Naming Exercise, Bijhan Zaver

5:00-6:00 Networking

EIEC Collective Mandate

Bruce Alton

Partner, A Partners

A100 Member

Startup Genome YEG Benchmarking Results

Jean-Francois (JF) Gauthier

CEO, Startup Genome

Applying Startup Commons Methodology

Chris Lumb CEO, TEC Edmonton

A100 Members

Business Model / Market FitProduct / Market FitVision / Founders FitLevels of validation

Problem / Solution Fit

Minimum Viable

Product

Validate / Iterate

(or pivot)

IdeatingEntrepreneurial ambition and/or potential scalable product or service idea for a big enough target market. Initial idea on how it would create value. One person or a vague team; no confirmed commitment or no right balance of skills in the team structure yet.

ConceptingDefining mission and vision with initial strategy and key milestones for next few years on how to get there. Two or three entrepreneurial core co-founders with complementary skills and ownership plan. Maybe additional team members for specific roles also with ownership.

CommittingCommitted, skills balanced co-founding team with shared vision, values and attitude. Able to develop the initial product or service version, with committed resources, or already have initial product or service in place. Co-founders shareholder agreement (SHA) signed, including milestones, with shareholders time & money commitments, for next three years with proper vesting terms.

ValidatingIterating and testing assumptions for validated solution to demonstrate initial user growth and/or revenue. Initial Key Performance Indicators (KPI’s) identified. Can start to attract additional resources (money or work equity) via investments or loans for equity, interest or revenue share from future revenues.

ScalingFocus on KPI based measurable growth in users, customers and revenues and/or market traction & market share in a big or fast growing target market. Can and want to grow fast. Consider or have attracted significant funding or would be able to do so if wanted. Hiring, improving quality and implementing processes

EstablishingAchieved great growth, that can be expected to continue. Easily attract financial and people resources. Depending on vision, mission and commitments, will continue to grow and often tries to culturally continue “like a startup". Founders and/or investors make exit(s) or continue with the company.

VALIDATIONLean Startup

Startup Development Phases - from idea to business and talent to organization.

FORMATIONMission > Vision > Strategy

GROWTHScale Up

● Idea and co-founder team formation

● What, to whom, why and how?

Establish &

Strengthen

Version 3.6 - www.startupcommons.org

-2 -1 0 1 2 3

Talent

Idea

Organ

ization

Bu

siness

Processes &

KPI’s

Process

• This group

• Service providers map programs, gaps, and opportunities, and resolve discrepancies.

• Open table to start, progressive refinement.

• Validate – iteratively – with advisory group and funders.

• Alignment coordination

• This group.

• Calgary-Edmonton group.

• Health Innovation.

• Artificial Intelligence (Amii - Deloitte – EEDC –community).

Process (2)

• Themes

• Entrepreneur / innovator development.

• SME formation, development, and scaling.

• Largeco engagements to drive demand for SMEs.

• Financing environment.

• Talent.

• Infrastructure.

• Program “Menu”

• Essential.

• Enhanced.

• Aspirational.

Business Model / Market FitProduct / Market FitVision / Founders FitProblem / Solution Fit

Minimum Viable

Product

Validate / Iterate

(or pivot)

VALIDATION

Lean Startup

FORMATION

Mission > Vision > Strategy

GROWTH

Scale

Up● Idea and co-founder team formation

● What, to whom, why and how?

Establish &

Strengthen

-2 -1 0 1 2 3

Idea

Bu

siness

Processes &

KPI’s

INITIAL ASSESSMENT & ACTION PLANS

HEALTH IT SANDBOX

REGULATORY AFFAIRS

MERCK ACCELERATOR

HEALTH SYSTEMS ENGAGEMENT – AICE LIKE ACTIVITIES

UA PATENTING, LICENSING, AND STARTUP CREATION

TEC VALHALLA

BUSINESS PLANS

EIR C-SUITE PLACEMENT AND BUSINESS DEVELOPMENT SERVICES

GO TO MARKET STRATEGY & EXECUTION

OPPORTUNITY ASSESSMENTS

INDUSTRY DAYS

DYNALIFE ACCELERATOR

INNOVATORS SPOT

IP ASSESSMENTS

HEALTH SYSTEMS OPPORTUNITY ASSESSMENT

As well

• Innovators first• International growth potential and aspirations.• Technology-based.

• Governance• Collaborative.• Respected community leaders.• Governance leadership flexibility.• Transparent.

• Goals and metrics

• Multiple funding sources

• Ongoing optimization

Team Alberta Innovation Coalition

Edmonton

• Wayne Karpoff

• Chris Lumb

• Gail Powley

• Cheryll Watson

• Ashif Mawji

• Matthias Ruth

• Ray Muzyka

• Tiffany Linke-Boyko

• Gail Powley

• Bruce Alton

• James Keirstead

Calgary

• Evan Hu

• Terry Rock

• Brad Zumwalt

• Court Ellingson

• David Chavez

• Heather Herring

• Jim Gibson

• Kari Gordon

• Ken Bautista

Alberta Innovates

• Laura Kilcrease

• Rollie Dykstra

Gaps / Overlaps

• Gaps• Talent attraction and retention

• Startup count and velocity

• More scaleup programming

• Collision space

• International connections

• Better university connections

• Financing environment

• Urgency – make a macroeconomic difference: ~1000-5000 more startups/year?? 10-50 more scaleups/year??

Innovation Hub NamingExercise

Bijhan Zaver & Nevin DeMiliano

Context

• Building on the success of our current innovation & entrepreneurship centres and programs, EEDC proposes to establish a new central location in the heart of downtown. This new Innovation Hub will bring together entrepreneurs, service providers, mentors, investors, newly forming and mature business all within an environment designed specifically to encourage the creation and growth of tech companies.

• This new Innovation Hub would be a key entry point to the innovation ecosystem and the central navigation point for entrepreneurs and community members.

• Working with CBRE, EEDC has identified a potential location and is waiting on acceptance of a conditional lease that is contingent on EEDC determining proof of concept within 90 days.

Proving the Concept

• High level design concept

• Hub name

• Community engagement

• Agreeable lease terms

• Government and stakeholder support

• Tenant interest

Naming Exercise

• 1-3 Sticky Cards Write one name per card in large legible writingPost your cards at the front of the room

• 3 Round StickersCome up to the front of the room and place your stickers next to your favorite names or place all 3 next to one

• Note: No parameters, we want your best ideas! Does not need to contain the word “innovation” or ”Edmonton”

What’s Next

Cheryll Watson

Vice President, Innovate Edmonton

Edmonton Economic Development

Edmonton Innovation Ecosystem Community (EIEC)

August – What are we currently doing? Org and program mapping

September – What’s needed? Bring in Entrepreneurs

October – Team Alberta Innovation Coalition 2019 planning session

Next Meeting

August 22, 2018