OTTAWA Impact Report
Celebrating ten years of building the preeminent SEATTLE global community of Canadians in tech.
2019-2020
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NEW YORK CITY VANCOUVER Contents
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ABOUT US A YEAR IN REVIEW MEMBERSHIP PROGRAMS CANADA’S TECH PEOPLE ECOSYSTEM Our Impact Identity and Mission The C100 Community 48Hrs in the Valley Team Accomplishments, 2019-20 Timeline Letter from the Launch of C100’s New Growth Summit Opportunities and a Co-Chairs Emeritus Executive Director Membership Program Annual Charter Member Call to Action Charter Members Message from the Dinner Members in C100’s Co-Chairs of the Board Charter Member & New Membership of Directors Partner Dinner in Toronto Program Message from the 2019 Icon of Canadian Co-Founders Entrepreneurship (ICE) Award New Charter Member Welcome Dinner Member Dinner & Discussion Series Canadians in Tech
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LONDON, UK Identity and Mission ABOUT US 2 Letter from the Executive Director Identity and Mission About Us Message from the Co-Chairs of the Board C100 is the preeminent global of Directors Message from the community of Canadians in tech, a Co-Founders mission-driven network committed to supporting, inspiring, and connecting the most promising Canadian entrepreneurial leaders. C100 and its members - individuals and organizations - support Canadian-led technology businesses and their leaders through mentorship, investment, partnership, and talent.
We fulfill our mission through:
Community Thought Leadership Impact Cultivating a high-caliber, Sharing of stories, and best Hands-on support for Canadian multi-city, mission-driven com- practices to build expertise, entrepreneurs as they require munity that intelligently links inspire fellow Canadians, and mentorship, investment, partner- the right people to high-impact grow together. ship, and talent. opportunities. ABOUT US 3 ABOUT US 4
Letter from the Executive Director
Dear Friends, We welcomed eight new distinguished leaders to the C100 Charter Membership in 2019. Each has made material contributions back to the Canadian ecosystem in their unique way. Invited on the merits of their distinguished careers and desire to give back, these new members hail As we reflect on C100’s 10th year, I cannot help but feel like 2019 is not only from the San Francisco Bay Area, but from Montreal, Toronto, as distant in the past as is 2010, the year of C100’s inception. From and Seattle. It is heartening to see the fellowship of outstanding global where I sit today, quarantined in my home like all of us are, it’s difficult Canadians in our community expand geographically. to comprehend that just months ago, the whole C100 community was convened in San Francisco, breaking bread with Canadian leaders from Through our core programs 48Hrs in the Valley and Growth Summit, across the continent, enjoying one of our most impactful events to combined with other events throughout 2019, we helped 112 Canadian date and the first that would officially involve our new “members” in a technology entrepreneurs expand their network of talent, investors, program launched to engage more of the global Canadian community to partners, and mentors. In this Report, we summarize an impactful year C100’s mission. of programs that we hope have given Canadians changing the world an inside edge as they build remarkable values-driven organizations. 2019 was a monumental year for A great year was bookended, however, by a time of trial: the COVID C100 - we launched a new by- pandemic and social upheaval in response to persistent racial injustice referral membership program to and inequality. This has given our team and Board leadership the opportunity to affirm C100’s own mission, our values and our stance reach a new audience of global on diversity. We opened the door to frank discussions with our own Canadians. community about how C100 can be an agent of service in the fight C100’s “shape” fundamentally changed from a small network of 100 against racism in our society. As an organization, we aim to embody senior executives concentrated in the Bay Area to nearly doubling in the very best expression of our Canadian ideals, standing for diversity, size over the span of a few months to include an emerging class of rising respect and inclusion. Canadian leaders across cities, eager to be inspired and mentored by This means that we are committed to actively seeking out opportunities the leaders in our community, and to maintain deeper ties to Canada. to support diversity in our programs, in our own business practices, and C100 hopes to be a critical platform for them as they build high-impact in the communities we touch. In turn, we encourage all of our members careers. The new membership is central to C100’s theory on talent, to use their own platforms to advocate for positive change. community, and the organization’s strategic value to Canada and its entrepreneurs. The year ahead will be challenging, Our corporate members, the visionary Partners who have invested in forcing everyone (our own C100’s purpose, supported this move, lending feedback, expertise, and contacts to help us build our new model and program. We welcomed organization included) to be six new corporate Members to the community in 2019, including innovative, inventive, compassionate, Foundational Partners BDC and Scotiabank / Roynat Capital; and as and connected. Corporate Partners, preeminent technology law firms Wilson Sonsini With our community’s support, the entrepreneurial Canadians in our Goodrich & Rosati in the US and Fasken LLP in Canada; Spear Street midst today will become the great leaders of tomorrow. Capital, a preeminent San Francisco real estate private equity firm making significant investments in Canada, and Espresso Capital, a founder- Thank you for your support of the C100 mission and community! friendly venture debt firm out of Toronto. Please join us as we build the preeminent, global community of Canadians in tech. Sincerely,
Laura Buhler Executive Director, C100 ABOUT US 5 ABOUT US 6
Message from the Co-Chairs Message from the Co-Founders of the Board of Directors
But our work doesn’t stop here. In fact, we are just getting Founder-focused, expert-led C100 was founded as a cultural started. In the next ten years, we imagine another order-of- programming to inspire bold movement for all technology magnitude step change for the scale and reach of Canadian entrepreneurs in companies big and small and are taking the thinking amongst Canadian professionals to help Canadian first steps on that new journey. As quiet confidence in our sector grows, so does the thrill of helping each other through leaders. entrepreneurs. the roller coaster to create a supportive community with aspiration for greatness. Over the past year, C100 has developed more programmatic We founded C100 a decade ago as a movement of Canadian We look forward to continuing to connect people to one another, opportunities for members to convene both in person and in technology professionals who felt deeply inspired by the need to ideas, and to motivate Canadians to build massive global a digital format. Throughout the year, members convene at to give back to the next-generation of Canadian entrepreneurs. businesses. Sometime over the next ten years all of us can thematic dinners to learn from experts and their peers and then At the time, the Canadian tech landscape was very challenged - help the next Tobi and Harley and find ways to encourage her all together as a collective at the Growth Summit. With a record Nortel had gone bankrupt, we were seeing the decline of RIM, “through the inevitable challenging days of entrepreneurship number of 48Hrs in the Valley applicants for our 2020 cohort and there was effectively no venture capital. Our thought was as greatness awaits. and our most impactful Growth Summit yet, we have our sights Launching a new membership simple: how can we give Canadian technology entrepreneurs a set on leveraging the global diaspora of incredibly talented Lastly, we encourage you to remember the advantages your chance to survive and realize their potential? We had an earnest Canadian technology professionals ready and able to propel our to expand the organization’s maple leaf passport has given you and to stay connected to drive to give back to the country we owed so much to. We mission forward and support great founders. Canada wherever you are. reach in the ‘who’s who’ of the wanted to see if other accomplished Canadians felt compelled With the current reality of leading in the face of COVID-19, we to give back. We were amazed by the support we received from are meeting all entrepreneurs and members where they are as Canadian technorati. volunteer mentors, experienced startup founders, corporate we shift into virtual roundtables to deliver our content to a wider partners, and by our government. Our aim was to connect the audience. We are organizing to share best practices on operating In November of 2019, C100 launched a new membership for 100 most successful Canadian entrepreneurs in the Bay Area during a market downturn and making our Members available the preeminent global community of Canadian entrepreneurs, with the 100 highest potential entrepreneurs in Canada - our Anthony Lee Co-Founder, C100 to founders looking for counsel and support. Further, in light of investors, and exceptional leaders at technology companies best industry veterans and the rookies. Managing Director, the current public dialogue around racial justice, our Board and who are focused on supporting the growth of other Canadian We were deeply inspired by Canada’s gold medal success Altos Ventures Team have also taken this opportunity to reflect and reaffirm entrepreneurial leaders. I’ve been fortunate to see members at the Vancouver Olympics in 2010 and wanted to see if we C100’s own values and what it means to serve Canadians benefit from learning from fellow members in settings suited for could rally and support Canadian entrepreneurs to bring the leading and creating more access and opportunity. Within personal and professional growth. The membership is designed same kind of energy and determination to “own the podium” this community, we’ve seen some of the very best of Canadian to provide access to high-value events and great opportunities in technology. As the community gained momentum increasing leadership, and are grateful that we can serve such visionary and to build meaningful connections with an increasingly global the flow of people, ideas, and capital, Canadian entrepreneurs Chris Albinson purpose-driven Canadian leaders. network of exceptional Canadians in tech. Talented folks are began to have a more level playing field. Our aspirations for the Co-Founder, C100 looking for opportunities to give back to the vibrant tech community grew, too. Co-Founder & Managing Director, community in the form of lending expertise, mentorship, BreakawayGrowth Fund This goal at times felt far-reaching or perhaps unattainable. advisement, and investment - and this membership gives them However, by 2019, Canadian founders accounted for over Shari Hatch Jones the tools to do this. Co-Chair, C100 30% of global tech IPO value. Companies that had come out of Founder & Managing Partner, the 2008 recession to global domination in just ten years like Sightline Coaching Lightspeed, PagerDuty, Uber, Slack, Cloudflare and Shopify. With a total market cap of $162B, Canadian technology Andre Charoo entrepreneurs are now owning the podium by any definition! Co-Chair, C100 Founder & General Partner, Maple VC Our Impact 7 A YEAR IN REVIEW 8 2019-20 Timeline A Year Our Impact 2019 was a landmark year in Review for C100 as we embarked on our most ambitious program calendar to date.
186 individual
An 88% growth in our core members member community. 28 events to convene 800 high-impact Canadians 426 112 85 Unique Canadian Unique Canadian Blended NPS expats engaged at founders engaged at (Net Promoter Score) on all C100 programs programs programs over 2019 2019-20 Timeline MEET & GREET WITH 9 10 JACK DORSEY April 2, 2019 48HRS IN THE VALLEY 2019 Toronto-based Charter Members were invited to meet Jack Dorsey May 6-7, 2019 (Co-Founder & CEO, Twitter and Square) during his visit to the city. Introducing 25 of Canada’s most promising early-stage startups to C100’s community of mentors, investors and executives. Founders enjoy a truly unique opportunity to BAY AREA ECONOMIC INSTITUTE integrate into the C100 network PANEL DISCUSSION of other founders, investors, and April 14, 2019 executives and build their ties in the CANADIANS IN TECH: C100 Executive Director, Laura Bay Area and across Canada. The ENTREPRENEURS Buhler participated in a panel on the intimate and invitation-only event IN CYBERSECURITY alignment and mutual importance of dedicates two days to unparalleled March 5, 2019 the Canadian economy and the Bay networking and expert-led playbook DINNER & DISCUSSION Guests convened to learn from Area in trade and tech innovation ties. discussions on scaling, talent IN MONTREAL C100 Charter Member Art Wong and fundraising. FOUNDER DINNER IN MONTRÉAL July 10, 2019 (CEO of Trustwave & CEO of March 27, 2019 Global Cyber Security at Singtel) During Startupfest, C100 got a group at an evening reception for A private dinner with Dax Dasilva of founders and executives together cybersecurity entrepreneurs and (Founder & CEO, Lightspeed POS) to connect and learn at expert-led, operators surrounding the RSA and Montréal-based founders to thematic dinner tables focused on Conference in San Francisco. share lessons from his entrepreneurial fundraising, partnerships, and talent at journey and recent IPO on the TSX, Cafe OSMO. In partnership with: the largest by a Canadian technology company in nearly nine years. In partnership with:
MARCH APRIL MAY JUNE JULY
CANADIANS IN TECH IN CEO DINNER & DISCUSSION DINNER & DISCUSSION MONTREAL BREAKFAST: ANNUAL CHARTER SAN FRANCISCO IN TORONTO IN VANCOUVER EXPANDING INTO THE U.S. MARKET MEMBER DINNER April 16, 2019 May 21, 2019 June 4, 2019 July 12, 2019 A group of invited CEOs - local and During CVCA’s Invest Canada ‘19 A gathering of early-stage founders March 20, 2019 visiting for Collision - gathered for conference, the C100 community in eager to expand into the U.S. market An annual gathering to celebrate MEMBERSHIP ADVISORY a dinner to build community and a Vancouver convened to connect and with expert guidance from 48Hrs in COMMITTEE DINNER the contributions of C100’s Charter candid discussion on talent attraction. learn more about the city’s growing the Valley alumni Eammon O’Rourke April 24, 2019 Members and their impact on Canada technology ecosystem. (CEO, Renorun) and Mikael Cho (CEO, Unsplash) with Adam Shevell & Brian and the next generation of Cana- CHARTER MEMBER & In partnership with: Appel (both with Wilson Sonsini). dian entrepreneurs. An evening of PARTNER DINNER IN vision-setting for the upcoming year ahead, and recognizing outstanding TORONTO contributions from the years past. May 22, 2019 MEMBER DINNER & DISCUSSION: Celebrating Collision’s first year FOUNDER FEATURE in Toronto with C100 Charter WITH ALY ORADY Members and Partners for a reception CANADIANS IN TECH July 30, 2019 and dinner discussion on positioning IN PALO ALTO Canada as the destination for top June 26, 2019 Members got a full-body workout at entrepreneurial talent, hosted at Tonal HQ followed by dinner with the HXOUSE (co-owned by R&B star company’s founder, Hamilton-born the Weeknd). Aly Orady. He shared his inspiring entrepreneurial journey and gave the In partnership with: Guest of Honour: Scott Bonham, group a behind the scenes tour of the recipient of the Shawn Price Legacy office including a product demo. Award for Leadership. MEMBER DINNER & DISCUSSION: 11 12 THE STATE OF PRIVACY August 14, 2019 Members had the opportunity to hear from Shuman Ghosemajumder (F5) and Yaël Eisenstat (former CIA Officer and government official) on the greatest privacy threats and how technologists and policy-makers can CANADIANS IN TECH better negotiate the intersection of IN SAN FRANCISCO ethics and technology. September 4, 2019
MEMBER DINNER & DISCUSSION: TORONTO POWER BREAKFAST: FOUNDER FEATURE LEARN MORE ABOUT 48HRS AT WITH KIRK SIMPSON THE DMZ September 24, 2019 September 25, 2019 Toronto-based members heard Kirk Early-stage founders get together Simpson (Co-founder & CEO, Wave) in Toronto to learn more about C100’s offer candid advice, stories and flagship48Hrs in the Valley program insights on leading a high-growth from Andre Charoo (Maple VC) and company through acquisition by David Steckel (Setter). Both discussion GROWTH SUMMIT 2020 H&R Block. leaders spoke about how to leverage the program to meet the investors, February 12-13, 2020 mentors, and passionate Canadians An (un)conference for C100 Members who can help founders scale to and CXOs of high-growth startups to new heights. amplify the voices and stories of Canadian In partnership with: shapers and builders to a global audience to draw as a source of inspiration and a call-to-action to position Canada as the emerging home of entrepreneurship.
ICE Award recipient Michelle Zatlyn (left) and former recipient Don Listwin (right).
AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER FEBRUARY
MEMBER DINNER & DISCUSSION: WATERLOO MAYORS MISSION MEMBER DINNER & POSITIONING THE TECH November 6, 2019 DISCUSSION: AS VALUATIONS ICON OF CANADIAN COMMUNITY FOR SOCIAL AND BALLOON, HOW ARE VCS NEW CHARTER MEMBER ENTREPRENEURSHIP ENVIRONMENTAL IMPACT C100’s leaders met with Mayor Berry POSITIONING THEMSELVES AS WELCOME DINNER (ICE) AWARD October 17, 2019 Wrbanovic (Kitchener), Mayor Dave RECESSION FEARS GROW? Jaworsky (Waterloo), & Mayor Katheryn November 6, 2019 December 9, 2019 A dinner at Mountain View-based McGarry (Cambridge). The group August 27, 2019 An investor AMA focused on space-tech startup Swarm discussed the outstanding impact of A convening to welcome the eight new Charter future resilience for the startup Technologies with the CEO, Sara Canadians in the San Francisco Bay Members who joined C100 in 2019 and learn C100’s Charter Members nominated industry with expert Charter Spangelo and Global Ambassador Area and in the Waterloo Region, and more about their entrepreneurial journeys. Over Michelle Zatlyn, Co-Founder & COO Members Lars Leckie (HWVP) and for Technovation, Anar Simpson. Sara the opportunities for a two-way flow dinner, the members shared their motivation to of Cloudflare, as the recipient of Karan Mehandru (Trinity Part- led a demo on how to build your of talent, capital, and collaboration positively impact Canada and to champion the the 2019 ICE Award to celebrate ners) answering guests’ burning own satellite followed by the two between Canada and the Bay Area. next generation of brilliant Canadian leaders. her historic impact on the world questions on market trends. of technology and her con- leading a discussion on embedding tribution to advancing the impact into a business mission. Canadian entrepreneurial NEW MEMBERSHIP LAUNCH community. Over dinner November 19, 2019 with her fellow Charter C100 launched a new membership Members in a fireside model to reach a new audience of moderated by Chris global Canadians and to achieve one O’Neill, she spoke of her of our core tenets: to build the preemi- inspiring journey starting nent, global community of Canadians and scaling the company to in tech. The new membership is its remarkable success. central to C100’s theory on talent, community, and the organization’s strategic value to Canada and its C100 leaders, Mayor Berry Wrbanovic, Mayor Dave Jaworsky, & Mayor Katheryn McGarry, at the Waterloo Mayors Mission entrepreneurs. The C100 Community13 MEMBERSHIP 14 Launch of C100’s New Membership Program Membership The C100 Community
Our community aims to have a meaningful positive impact C100 is fueled by its members - on Canada and to champion the next generation of brilliant individuals and organizations - Canadian technical leaders. The organizations and individuals within the C100 community who have joined in our mission lead through their championship of Canada’s thriving innovation to inspire, support and connect ecosystem and its entrepreneurs. They represent the best in Canadian leadership: bold entrepreneurs, high-impact operators, the most promising Canadian well-regarded investors and visionary corporate citizens. entrepreneurial leaders.
CORPORATE MEMBERSHIP
Our Corporate Members support C100 strategically and financially, and are integral to C100’s network, programs and thought leadership.
FOUNDATIONAL PARTNERS
CORPORATE PARTNERS MEMBERSHIP 15 MEMBERSHIP 16
The Launch of C100’s New Membership Program Well-Regarded Investors Investing in Canadian by expanding their professional network, helping them access exciting talent: building the new career opportunities, attend Bold intimate networking events, and Entrepreneurs preeminent access to exclusive content. global community of The growth of an individual membership program is central to Canadians in tech. our strategy. It ensures the future of the organization as we discover the To support Canada in becoming a top “next generation” of C100 Charter global destination for talent, C100’s Members; it helps the C100 and our strategy also needed to expand community contribute to the (inter) from its core expertise of helping national dialogue around and market startup founders access capital and for great talent, our ecosystems most mentorship, to helping “scale-up” pressing opportunity; and lastly, it founders with talent discovery and engages founders more directly in peer mentorship. C100, as they are critical constituents in the new membership community. In C100’s own backyard of the San Francisco Bay Area are thousands of talented Canadians pursuing meaningful careers in technology and related fields. Uniquely positioned to help cultivate that community and to help the Canadian ecosystem Visionary connect to its own global citizens, Corporate C100 began building a new network Citizens and new programs from which hope to uncover new solutions to Canada’s talent opportunity. High-Impact In line with our new strategy, in Operators November of 2019, C100 launched its new by-referral paid membership program to reach an emerging class of rising global Canadians. C100 hopes to be a critical platform for them as they build high-impact One of the things I find to be personally careers and remarkable organizations very valuable is to learn from and be inspired by other C100 Members - some of my higher-growth peers from the Bay Area and beyond. All entrepreneurs are competitive by nature and being around such a group makes us all aspire to be better.
ROHAN MAHIMKER Co-Founder & Co-CEO of Prodigy Game 48Hrs in the Valley 17 PROGRAMS 18 Growth Summit Annual Charter Member Programs Dinner Charter Member & Partner Dinner in Toronto 2019 Icon of Canadian Entrepreneurship (ICE) Award New Charter Member Welcome Dinner Member Dinner & Discussion Canadians in Tech
48Hrs in the Valley NOTABLE ALUMNI A flagship program introducing the founders of Canada’s most promising early-stage startups to Silicon Valley through networking opportunities, investor meetings, and unparalleled access to C100’s extensive network.
C100 was instrumental in helping us raise our Series A and kicking off our expansion into the U.S.
FRANCIS DAVIDSON, CEO & Co-Founder, Sonder (2015 cohort) PROGRAMS 19 PROGRAMS 20
After 19 cycles, the program has helped nearly 300 Canadian companies, which employ 12,000+ people and have raised a cumulative $2.5B+ in equity capital, build their network in the San Francisco Bay Area. The program helps early-stage entrepreneurs build deep networks within their cohort and C100’s community of partners and experts. Through mentorship, thought partnership, and venture guidance, founders learn valuable lessons from the network and build a cross-border network.
Our program consists of:
Mentor matching for early-stage Networking opportunities with founders and experts ready to a community wanting to open help them scale. new doors for entrepreneurs.
A pitch session followed by A new peer network amongst curated investor meetings Canadian founders built into a unleashing new access to Membership program designed international capital. for continued growth. PROGRAMS 21 PROGRAMS 22
2019 Cohort
Acadium (formerly GenM) is an online Applied Brain Research (ABR) makes the Blume is the first direct-to-consumer brand Properly is a platform that uses data science to Renorun is building the world’s largest single Skyhive uses artificial intelligence to drive platform providing students with free, world’s most advanced neuromorphic compiler, focused on puberty, from trustworthy education, determine what a home is worth, committed source platform for general contractors to unparalleled insights into the skill set of a hands-on marketing experience to launch runtime and libraries for the emerging space of to safe and effective self care products. capital to buy the home from the seller in the purchase materials. workforce, supporting a company’s efforts to their careers. neuromorphic computing. Founders: Taran Ghatrora & Bunny Ghatrora matter of days, technology to sell the home quickly, Founder: Eamonn O’Rourke upskill through the acquisition, engagement, Founder: Moe Abbas Founders: Peter Suma & Chris Eliasmith and a dedicated team of professionals to sup- and development of its workforce. port buyers and sellers every step of the way. Founder: Sean Hinton Founders: Anshul Ruparell & Sheldon McCormick
Fellow is the first app of its kind built for Harbr is a utility construction work management Invivo AI is using artificial intelligence to SnapTravel offers hotel deals over SMS, Mes- Stay22 makes it easy for event organizers to Stellaralgo helps organizations organize, an- managers and their teams to power 1-on1s, SaaS designed for project managers. streamline the development of new medications. senger, WhatsApp, and Alexa. have their own hotel and apartment booking alyze, and leverage the data they need to make group conversations, and priorities. Founders: Dave Kim, Jeff Kielbratowski, & Ashley Founders: Daniel Cohen & Therence Bois Founders: Hussein Fazal & Henry Shi solution directly embedded on their website successful business decisions. Founder: Aydin Mirzaee Kielbratowski and/or app. Founder: Vincent Ircandia Founders: Andrew Lockhead & Hamed Al- Khabaz keela
Ionomr makes Aemion™ and Pemion™, Keela provides accessible productive technology Lumen5 is an artificial intelligence driven Tacit is a white label mobile, kiosk, and online Unito automatically synchronizes your Voiceflow is a collaborative platform to next-generation ion-exchange materials for for small and medium-sized nonprofit impact video creation platform that can transform food ordering platform used by managed food- projects, tasks, and conversations between design, build, and manage conversational apps. breakthrough clean technology applications organizations to help them raise money and articles and blog posts in social videos through service operators, restaurant chains, hotels, different work management tools. Founders: Braden Ream-Neal & Tyler Han involving electrochemistry. do more good. a simple interface. and stadiums. Founder: Marc Boscher Founders: Benjamin Britton & Bill Haberlin Founder: Nejeed Kassam Founders: Michael Cheng & Chris Bowal Founders: Cris Jucan & Brenda Crainic
I came back from 48Hrs in the Valley with a huge jolt of motivation, inspiration, and knowledge to share with Neuraura has developed an electronic Nicoya Lifesciences is a nanotechnology Omnirobotic is creating autonomous industrial VivaVax creates technologies that protect chip that intercepts and reads signals company developing biochemistry and optical robots for high mix, low volume manufacturers sensitive medicines during transport, and my team. We had closed door sessions with the best between brain cells. sensor technologies used by medical research- that can see, plan, and execute. formulations that enhance drug delivery into speakers I could learn from and a curated audience Founder: Pierre Wijdenes ers in academic and private institutions. Founder: Francois Simard the body. with contacts who could make all the difference for my Founders: Ryan Denomme & Tijana Matovic Founders: Alice Yang & Julia Peng business. The program helped me raise capital, build deals, and learn a lot. C100 is a treasure and a privilege for anyone lucky enough to get selected to attend.
OnCall Health is a virtual care platform license Passenger AI is building tools to help robotaxi Phenomic AI is a platform that uses deep AYDIN MIRAZEE to healthcare providers to use with their patients. fleets sense, monitor, and understand vehicle neural networks to identify new targets, and Founder & CEO, Founder: Nicholas Chepesiuk cabin occurrences. functionally optimize antibodies against these Fellow 2019 Cohort Founder: Martin Shen targets, in complex image-based assays. Founder: Sam Cooper PROGRAMS 23 PROGRAMS 24
Coming Soon: 2020 Cohort Growth Summit Meet our 2020 cohort of companies for our upcoming program.
Growth Summit is an invitation-only, two-day (un)conference for C100 Members and CXOs of high-growth startups. Through the Summit, C100 aims to amplify the voices of Canadian shapers and builders to a global audience and position Canada as the emerging home of entrepreneurship.
Fireside Chats Founder-Led Sessions Keynote presentations for an executive audience on hyper- Candid discussions offering tactical peer advice for growth and scaling. entrepreneurs.
High-Impact Networking Soiree Afterparty A highly curated community of prospective partners, mentors, Introducing Canadian tech leaders to an audience of expats investors, and executive talent. living in the Bay Area. PROGRAMS 25 PROGRAMS 26
Growth Summit sessions were designed Topics included transitioning from your founding team to a seasoned executive team, the road to IPO or acquisition, by and for the fastest growing Canadian maintaining culture as you scale, setting and achieving audacious operational goals, and leading through challenges founders. Small, expert-led working with board members and investors. Some of the keynote groups fostered peer to peer connections discussion leaders included: and conversations around scaling.
PATRICK SPENCE DAX DASILVA CEO OF SONOS FOUNDER & CEO, LIGHTSPEED
From: Currently: From: Currently: Kitchener, Ontario Santa Barbara, California Vancouver, British Columbia Montreal, Quebec
Patrick spent the early years of his career at RIM/Blackberry Dax founded Lightspeed in Montreal in 2005 and its cloud before joining Sonos in 2012. Having been involved in the commerce platform is now used by retailers and restaurants launch of some of the company’s most successful products in over 100 countries. Lightspeed’s IPO in 2019 was the and expansion into new international markets, Patrick largest Canadian IPO in the past nine years. Dax offered shared his learnings as a season executive on taking a tech insightful reflections on understanding the changing role company public and forging strategic partnerships with of CEO in a scaling company and his passion of helping iconic brand names to accelerate your business. entrepreneurs become leaders in their communities.
With moderator: With moderator: ALY ORADY MARIE-JOELLE PARENT Founder & CEO, Tonal Content Communications Manager, Pinterest
RT. HON. SAM ZAID STEPHEN HARPER FOUNDER & CEO, GETAROUND 22ND PRIME MINISTER OF CANADA From: Currently: Ottawa, Ontario San Francisco, California From: Currently: Toronto, Ontario Calgary, Alberta Sam shared stories on building a leading marketplace for sharing personal vehicles. The conversation included details The Former Prime Minister shared candid perspectives on what’s ahead for the company, returning to their roots gained through serving as a G7 world leader and one of and core mission, and the difficult choices a leader faces Canada’s longest serving Prime Ministers. He spoke about through hyper-growth. the unique Canadian identity in the global economy, trends in trade and tech policy, and working with regulators on issues ranging from labour to trade and investment policy.
With moderator: With moderator: ALEX KOLICICH MICHELE ROMANOW Founding Partner, 8VC Co-Founder & President, Clearbanc PROGRAMS 27 PROGRAMS 28
Who Attended Growth Summit? Attendees by Place of Origin Growth Summit closed off with a Soirée for a larger Participation is invitation- audience of nearly 300 only: a cross-border 6% local Bay Area Canadian Other community representing 7% (incl. NYC) technologists for a Calgary Canadian-led growth celebration of Canada’s startups, executives and 9% “moment”, highlighting the thought leaders. Vancouver 40% Bay Area recent success of Canadian 10% entrepreneur and C100 Montréal Charter Member, Dax Dasilva. Attendees by Affiliation 26% Toronto The Soirée fostered networking amongst Growth Founders Summit participants and the expat Canadian talent pool from iconic companies such as Google, Facebook, Apple, Tesla, Lyft, Netflix, Adobe, and more. Operators & Execs
C100 Partners
Government/ Non-profit
0 20 40 60
It was inspiring to spend time with such a brilliant and accomplished group of Canadians. The format lends itself to real conversations and practice advice for those of us “in the arena.” It was a valuable use of time, and I left more confident than ever that Canadian entrepreneurs are poised to be major players on the global stage.
PATRICK SPENCE, CEO, Sonos PROGRAMS 29 PROGRAMS 30
Charter Member & Partner Charter Member Program Dinner in Toronto
Annual Charter Member Dinner Celebrating the Our first Charter Member organization’s Dinner in Canada with success and locally-based Members sharing the and those visiting for A panel discussion on how to make Canada vision for the Collision’s first year in the top destination for global tech talent with Michael Scissons (Careerlist), Jennifer year ahead. Toronto. Holmstrom (GGV Capital), & Ian Mckay (Invest in Canada).
Scott Bonham, Board Director at Laura Buhler, C100’s Executive Magna International, Scotiabank, and Director, recaps a year of many Loblaw, is honoured with the Shawn milestones and accomplishments. Price Legacy Award for Leadership.
The event was a first glimpse at HXOUSE, the newest creative incubator for Canadians developed in partnership with R&B star the Weeknd. PROGRAMS 31 PROGRAMS 32
2019 Icon of Canadian New Charter Member Entrepreneurship (ICE) Award Welcome Dinner
Janet Bannister Dax Dasilva Recognizing a Canadian An honourific event Managing Partner, Founder & CEO, Real Ventures Lightspeed POS entrepreneur who to welcome the Toronto Montreal has played a historic role eight new additions in technology and throughout 2019 Adrienne Down Coulson Jonathan Ehrlich to the Charter COO, Rakuten Americas Partner, Foundation Capital entrepreneurship, and San Francisco Bay Area San Francisco Bay Area contributed significantly Member community. to the advancement of the Canadian entrepreneurial Nilam Ganenthiran Shuman Ghosemajumder President, Instacart Global Head of AI, F5 community. Toronto San Francisco Bay Area
Kristen Hamilton Luc Levesque CEO & Founder, multiple Head of International Growth, exited companies Shopify Seattle San Francisco Bay Area Announcing Michelle Zatlyn, Co-Founder & COO of Cloudflare, as the 2019 Recipient Over dinner with C100’s Charter Member community, Michelle shared her story beginning in Prince Albert, SK to the ten year period she built Cloudflare into a now public company traded on the NYSE.
Past award recipients:
Stewart Butterfield Tobias “Tobi” Lütke Doug Bergeron 2018 ICE Award Recipient 2017 ICE Award Recipient 2016 ICE Award Recipient Co-Founder & CEO, Slack Co-Founder & CEO, Founder & CEO, DGB Shopify Investments
Don Listwin Patrick Pichette Rob Burgess 2015 ICE Award Recipient 2014 ICE Award Recipient 2013 ICE Award Recipient President & CEO, General Partner, Inovia iSchemaView Former CFO, Google Board Member, Adobe PROGRAMS 33 PROGRAMS 34
Member Dinner & Discussion Canadians in Tech
A new program this An opportunity for Canadians year to build community visiting the Bay Area to meet local amongst C100’s growing Canadian expats. The agenda is membership. simple: we want Canadians to As we build the preeminent, global community build their networks and the best of Canadian entrepreneurs, investors, and exceptional leaders at technology companies we opportunities available to them to offer these emerging leaders the opportunity to connect with each other at intimate, high-value stay plugged into Canada. events throughout the year. In 2019, we hosted six events that attracted over 570 guests at our events over the past year. Local attendees include a healthy mix of Member Events in 2019: junior and senior Canadian founders and expat operators working at Founder Feature with Aly Orady, Founder & CEO some of Silicon Valley’s iconic companies such as Apple, Facebook, of hyper-growth Tonal, where he took members on a Google, Tesla and beyond. behind the scenes tour of his fitness-tech startup HQ. The State of Privacy with Shuman Ghosemajumder and Yaël Eistenstat, where guests discussed We have hosted over data privacy concerns, the place for government regulation, and how tech companies are adapting to changing laws. 570 guests Founder Feature with Kirk Simpson in Toronto, where he offered candid advice and insights from his at Canadians in Tech nearly ten-year journey founding and leading Wave and his recent acquisition of his company by H&R Block. events over the past year. Positioning the Tech Community for Social and Environmental Impact held at space-tech startup Swarm Technologies with the CEO, Sara Spangelo and Global Ambassador for Technovation, Anar Simpson. As Valuations Balloon, How are VCs Positioning Themselves as Recession Fears Grow? with expert investors Lars Leckie and Karan Mehandru. 35 CANADA’S TECH ECOSYSTEM 36 Canada’s Tech Ten Years of Unprecedented Growth If the last few years are any indication, Canada is poised to one day assume its place as the top destination globally for talent and for entrepreneurship. Ecosystem Together with some of C100’s key partners, we have summarized the rapid evolution of Canada’s dynamic innovation economy here. It is not exhaustive, but does cover the reasons why our community of members and supporters has so passionately Accomplishments, pursued the mission to support, inspire, and connect Canadian entrepreneurs to capital, talent, and ideas in our home base of Opportunities Silicon Valley. The momentum is motivating. We’re proud to be part of the story. And we hope global Canadians everywhere are proud to help and a Call to Action share Canada’s story with us. Since C100’s founding 10 years But as we reflect on the progress of the past decade, we also ago, our community has had the find ourselves in a time of great uncertainty, rife with risks and challenges business leaders and policymakers are only honour of both cheering on and just beginning to understand. With the gains made the last decade and the engagement of our whole ecosystem - industry, participating in the remarkable entrepreneurs, academia, government, and the force of Canadian transformation of Canada’s talent including our “unofficial ambassadors,” those Canadians living abroad - the next decade should be one of unprecedented technology industry. leadership for Canadian technology on the world stage.
Investment into Canadian Companies Canadians should be highly optimistic about their ability to attract venture capital - a driving force of the tech industry - given the hyper-growth in investment activity. Canada experienced ten years of unprecedented growth in its technology ecosystem, closed out by a record-shattering 2019. The past five years have seen sustained year-over-year growth in venture capital (VC) investment into Canadian technology companies on all metrics: total dollars invested, the number of deals, and average deal size (which has more than doubled). In 2019, the volume of VC invested in Canada had its greatest uptick ever with 40% growth over the previous year. CANADA’S TECH ECOSYSTEM CANADA’S TECH ECOSYSTEM 37 38
Investments from top-tier U.S. funds are Total VC investment and deal count 1 no longer an anomaly in Canada - many in Canada, C$ billions, per annum . of the best VC firms like Accel, Bessemer, Figure 1 a16z, GGV in the U.S. (to name a few) 539 527 528 and the top corporate VCs have now Total VC $B Invested made Canadian investments and have an Number of VC Deals 506 appetite for more. And we’re seeing more $ $ Average Deal Size The Canadian VC sector has emerged as a major global contender. 453 US-based LPs investing into Canadian VC 438 Five- and ten-year investment returns (the measure of a VC fund’s performance) in Canada are now closing the performance gap and growth equity firms. with their American counterparts. Today, Canada lags only the WIN BEAR U.S. and Israel for the relative size of its VC industry, representing Head of Business Development 0.16% of Canada’s GDP (compared to 0.55% in the U.S.)6. Canada, Silicon Valley Bank
The sector’s growth is also reflected in 7 VC returns in Canada and the U.S., 2013-2018 (%) . U.S. the number of active Canadian General Figure 3 Partners (GPs) which has doubled over the Canada 1.1 1.51 1.6 1.9 2 2.3 3.2 3.6 3.7 6.2 past five years, driven both by emerging 10-year VC return [RR] trend 5-year VC return [RR] trend and established funds. The number of new 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 % 2013-2019 % 2013-2019 2 “emerging” GPs has increased from 23 to $4.6M $4.4M $6.1M $6.1M $7.3M $11.5M 3 14% 42, and “established” GPs from 1 to 9. 13% 16% 16% 13% 12% 13% 15% 11% 15% 10% 10% 9% 9% 8% 8% 8% 11% 12%
8% 4% What’s more: the presence of large funds has also grown 3% 3% 6% 1% significantly. At the end of 2014, there were just 3 funds exceeding $100M, compared to the now 14 funds. Over the past five years, the average size of these funds has grown 52%, from $136M -7% -6% -2% in 2014 to $207M in 20195. Often cited as a cardinal challenge for high-growth companies, access to growth capital for later financing rounds is more accessible today, thanks in part to the presence of larger Canadian funds. 2013 2014 2015 2016 2017 2018 2019 2013 2014 2015 2016 2017 2018 2019
Total number of active Canadian GPs with fund sizes Emerging GPs exceeding $10M, 2014-20194. Established GPs Canada as a Top Destination
Figure 2 for Global Talent
60 Canada has emerged as a 50 9 creator of and destination for 8 40 4 top global talent. 4 Canada is making itself home for a new wave of ambitious 30 1 1 entrepreneurs and technology companies attracted by a diverse,
20 highly-educated talent pool and favourable immigration policies. The success of Ottawa-based e-commerce titan Shopify is
10 23 27 34 36 39 42 heralded as Canada’s current-day quintessential talent magnet and in recent weeks has become Canada’s most valuable company 8 0 in any sector, at a $121B market capitalization . Coming up from 2014 2015 2016 2017 2018 2019 behind Shopify, many of Canada’s most promising technology companies have been founded by Canadians returning home CANADA’S TECH ECOSYSTEM CANADA’S TECH ECOSYSTEM 39 40
after experiences in Silicon Valley, such as Andrew D’Souza Other Canadian cities are emerging hotbeds of talent, too. Of Breakdown of Canadian-headquartered startup jobs located of Clearbanc, Ray Reddy of RITUAL, and Michael Katchen of the major cities in North America, Vancouver demonstrated the in six most common U.S. states, 201921. Wealthsimple, to name a few. greatest year-over-year gains with 43% growth in tech jobs. Figure 5 Citing the depth of technical talent and world-class universities, Ottawa is tied with the SF Bay Area to lead North America in tech Jobs data powered by: iconic global players are making moves north, and their talent concentration at 10%, three times the Canadian average. 350 investments are driving substantial job gains. In Q4 of 2019, The growth is not just concentrated in big cities: Hamilton and Go-to-market Amazon announced its plan to create 10,000 jobs in Vancouver9. Waterloo are two of the fastest-growing “opportunity markets” Operational & in North America with 52% and 40% growth respectively in tech 300 Administrative Google and Apple made similar announcements for 5,000 jobs Technical 14 each in Montreal, Hamilton, and Vancouver10 11, while Uber job creation . 250 announced an investment of over $200M in Toronto over five Canada has been responsive to the needs of the growing tech years for its new self-driving engineering hub12. sector with progressive immigration policy, doubling down every 200 time the U.S. pulls back on immigration. Canada now welcomes five times the number of skilled immigrants as a percentage of Over the past five years, 80,000 150 its population than does the U.S. The Global Talent Stream visa new tech jobs have been program launched in 2017 promises easy entry for international 100 created in Toronto alone, more technical hires in as little as 10 business days15, and the private There are still hurdles that sector is quick to react. Half of the immigrants admitted into 50 than San Francisco, Seattle, and Canada over 2018 held a STEM degree16. Notably, 65% of the Canadian tech ecosystem 13 U.S. tech HR professionals surveyed by Envoy view Canada’s 0 Washington, D.C. combined . immigration policy as more favourable than that of the U.S., and must clear to benchmark CA NY MA IL TX AZ 35% envision sending more of their workforce to Canada and against the U.S. boosting hiring foreign nationals to work there17.
Skilled foreign workers as a percentage of the total Venture-backed businesses in population, 2013-201818. Canada are still less capitalized Figure 4 U.S. Canada than U.S. counterparts. 0.30% 0.28% On average, startups in Canada raise less than half as much VC than do American companies, with the median pre-exit capital 0.25% 0.24% raised at $6.8M, compared to $15.8M in the U.S. 0.24% 0.20% 0.19% 0.22% Lastly, even though larger and later-stage funds are a growing 0.20% presence in Canada, some late-stage funding gaps persist,
0.15% showing there is still room for additional late-stage capital to support the country’s highest-growth companies.
0.10% 0.06% 0.05% 0.05% 0.05% 0.05% 0.05% 0.05%
0.00% 2013 2014 2015 2016 2017 2018 Given that only a few large exits in a VC portfolio often drive an entire fund’s return, it is critical for Canada to achieve In the opposite direction, Canadians abroad may be motivated to Unlike domestic hiring which tends to focus on technical roles, higher exit values. 2019 was a record year learn that Canadian-headquartered companies are aggressively the majority of hiring in the U.S. and Europe is in ‘go-to-market’ for Canadian VC-backed exits and Light- growing their own international presence, particularly into functions such as marketing, sales and business development and speed’s IPO earlier this year is proof that the next-door market. Nearly two-thirds of international hiring operations. However, the COVID-19 pandemic and associated by Canadian tech companies in 2019 was in the U.S. There are economic downturn have taken a toll as hiring trends both at Canadian companies can remain in Canada emerging priority regions: including Europe (20%) and Asia (11%)19. home and abroad for Canadian companies plunged by 60% from and still reach billion-dollar valuations. January to April, 2020. There is still reason to be optimistic - even THOMAS PARK after a challenging quarter, over 12,000 open job postings remain Vice-President of Operations active at Canadian startups20. and Strategy, BDC Capital CANADA’S TECH ECOSYSTEM CANADA’S TECH ECOSYSTEM 41 42
Executive talent is still wooed Average tech executive Canada There are a number of Benchmark of available tech Available tech workers per local startup, 2018 by higher salaries and bigger compensation in VC-backed firms US factors likely responsible for workers in major Canadian and per position, $USD. U.S. cities, 201823. Available tech workers per 1M raised, 2018 Figure 6 exits south of the border. the compensation gap. Figure 9 CEOs and founders in Canada share that access to executive First, is an issue of supply and demand: Canadian cities are home “scaling” talent remains a cardinal challenge. Before the to more tech workers per firm and more newcomers than major $282,241 $271,111 592 COVID-19 pandemic, research conducted by the BDC offers $264,122 American tech hubs, meaning the labour market in Canada is Montreal $248,207 144.5 one possible explanation for that challenge: compensation. $211,946 simply not as tight, thereby pressuring wages upward in the U.S. $185,160 $187,699 Canadian tech executives earn on average $87,000 USD less $172,484 531 Second, U.S. companies boast a greater concentration of talent Toronto than their colleagues in the U.S. earn. This gap persists at every with advanced tech degrees, even though proportionally 148 funding stage and in every sub-sector, and across all senior Canada produces more STEM graduates. “Pedigree” demands leadership ranks22. We are unsure of how the pandemic will 321 higher salaries. Vancouver impact compensation going forward, but drawing attention to 186.7 Lastly, Canada’s talent compensation is still benchmarked recent trends may shed light on the opportunity. 199 President C-Suite Vice-President Management regionally, which investors use to set compensation estimates Boston 11 when investing. Locally attractive salaries might not be enough to
recruit executive talent out of U.S. hubs, where the most 93 Average tech executive compensation in VC- Canada ambitious firms are willing to pay for top talent. SF Bay Area 5.9 backed firms per funding round, $USD US Are Canadians with high earning potential simply choosing other 85 Figure 7 industries? Or are those same workers moving abroad? Whatever NYC 15.4 the cause, American companies are outcompeting Canadian ones $397,664 for executive talent, and the lure of opportunity down south has $358,928 $328,200 pounded a well-trodden path for Canadians seeking higher 0 100 200 300 400 500 600 $295,571 earnings and bigger outcomes. $266,759 $277,562 $265,357 $222,859 $233,114 $211,437 $221,241 $175,166
$126,294 $93,926 Canada’s track record of resilience leaves us destined for Seed Funding Post Series A Post Series B Post Series C Post Series D 5+ Rounds of Growth Capital Only Funding Funding Only new opportunities. Times are undeniably tough right now. The economy is anticipated Canada’s competitive advantage is our to shrink at an annualized rate of 25% in the second quarter of Median VC exit value in Canada Median Canada flexible, dynamic and well-educated 2020 and as many as 2.8M jobs may be lost24. Startups are hiring and the U.S., C$ millions, 2014-2019. Exit Value labour force, consistently ranking less (job postings have decreased by one-third), and three- Median U.S. among the leaders of the OECD group Figure 8 Exit Value quarters of companies report the intention to scale back hiring to of countries in terms of education accommodate a looming recession. Nearly two-thirds of startups are conducting layoffs, amounting to 5% of Canada’s startup attainment. Moving forward, we are workforce25. Anecdotes circulate of executive teams reducing or well-positioned to take full advantage 300 Despite salary gaps, Canadian companies are actually quite completely eliminating their own salaries to try to keep teams of an economy that will tilt to brains 262.5 competitive when it comes to equity-based compensation. But, 250 (and morale) intact. over brawn. To take full advantage of median exit values in Canada significantly lag the U.S., thus it is far Investment activity into startups has also slowed down in 2020. these accelerating trends, however, 203.5 from enough to bridge the gap. 200 VC investment in Q1 of 2020 ended at $834M, the first decline we need businesses and investors to 166.1 after three successive quarters exceeding $1B26. Nearly 70% of ramp up R&D in the emerging sectors 150 126.5 131.7 startups in Canada reported during the COVID-19 pandemic that to provide the tools necessary for 118 their fundraising prospects have been negatively impacted by the the workforce of today to be ready 100 72.2 for the economy of the future. 50.5 50 38.4 31.2 CRAIG 18.8 22 WRIGHT 0 Chief Economist, 2014 2015 2016 2017 2018 2019 RBC CANADA’S TECH ECOSYSTEM CANADA’S TECH ECOSYSTEM 43 44 crisis, with 40% deciding to postpone fundraising to a later date to For the better part of the past century, Special acknowledgement to Thomas Park (Vice-President, 27 better their odds . Canadian expats have been quietly Operations & Strategy, BDC Capital), Charles Lespérance The macro-risks facing Canada’s tech ecosystem are no less inserting themselves into pretty much (AVP, Ecosystem Development, BDC Capital), John daunting. One potential risk is that foreign investment into every significant movement, from inter- Stackhouse (Senior Vice President, Office of the CEO, Canada may dwindle as sovereign wealth funds and other national human rights to global media, RBC), Marianne Bulger (Founder & CEO, Prospect), institutional investors pull back. In addition to being a major usually excelling with those common Craig Wright (Chief Economist, RBC), David Rozin (Vice source of capital for Canadian VCs, foreign capital also Canadian - and globally rare - attributes of President & Head, Technology and Innovation Banking, represents between one-third and one-half of investment in Scotiabank), Martin Philipp (Senior Manager, Operations 28 empathy, balanced thinking and reasonable Canadian companies , with the U.S. being the leading source of Support VC, BDC Capital), Win Bear (Head of Business international investment. accommodation. In few sectors is this more evident than technology, where Canadians Development Canada, Silicon Valley Bank), and Paul Purchasing activity is also expected to slow down, stalling the can be found almost everywhere, with a McKinlay (Managing Director, CIBC Innovation Banking) growth of our scaling startups. A May 2020 CIBC equity analyst for their individual contributions. report forecasted a significant decrease in IT spending in 2020 combination of tech skills and human skills. which “runs counter to much of the commentary on Q1 earnings A divided, distanced world will need these calls from the software providers.” Declines are predicted across bridge-builders even more. And Canadian References most IT segments, but cloud software may see a boon: “As foreign policy - challenged anew by a organizations have been forced into embracing remote work, the fractured world - can harness them for our 1. Data from the Canadian Venture Capital & Private Equity Association (CVCA), BDC importance of nimble, accessible infrastructure and a clear digital country’s strategic advantage. Capital. 29 2. Emerging GPs are defined as venture funds on their first, second, or strategy have been made evident.” third fund. VC returns and liquidity may also suffer, threatening capital JOHN STACKHOUSE 3. Established GPs are defined as venture funds investing from their fourth (or later) Senior Vice President, Office fund. availability and thereby the near-term outlook of the industry of the CEO, RBC 4. Data from BDC Capital. as a whole. Threats to the VC industry may be amplified by less This work was built in collaboration with C100's 5. Data from BDC Capital. capital from high net worth (HNW) individuals, family offices and Excerpt from John Stackhouse’s upcoming 6. Data from OECD, CVCA, World Bank. Compiled by BDC Capital. book Foundational Partners: CIBC, RBC, Scotiabank & corporate venture capital (CVC), and other sources of alternative Planet Canada: How our Expats are Shaping the Future (Penguin Randomhouse: Roynat Capital, BDC, and Silicon Valley Bank. 7. Canadian data from BDC Capital (no Canadian benchmark available for analysis), capital being injected into the industry. Cash-strapped startups October 2020) American data from Cambridge Associates U.S. VC benchmark. 8. Globe and Mail. The close: TSX rises as Shopify hits record, nears top spot as Canada’s in more hard-hit sectors (such as travel, mobility, hospitality, live biggest stock entertainment, real estate) may struggle to stay afloat, which 9. Daily Hive. Vancouver is set to become Amazon’s unofficial HQ2 will challenge investors with too much exposure in these sectors As talent becomes more distributed, Canadian companies that 10. CBC News. Google expands Canadian footprint with new jobs in Toronto, Montreal and Waterloo within their portfolios. thrive in this “new normal” will be better positioned to compete for global talent - whether that talent finds its way into the 11. Financial Post. Apple plans to open office in Westbank’s glitzy Vancouver tower But, we have seen in the past a world of uncertainty can offer inspired by a Japanese paper lantern Canadian borders or not. After the pandemic, the workforce outsized opportunities for Canada. 12. Global News. Uber to invest $200M on new engineering hub, expand self-driving may look very different and Canada may need to accelerate centre in Toronto. its reskilling of the population to fit the needs of the emerging 13. CBRE Research. 2019 Scoring Tech Talent. As the world shifts from “growth at all costs” economy. Our aptitude to do so may very well position Canada 14. CBRE Research. 2019 Scoring Tech Talent. as a model globally. 15. Government of Canada. Global Skills Strategy. to “path to profitability” and a focus on metrics, 16. Immigration, Refugees and Citizenship Canada, 2018. the Canadian companies and entrepreneurs Talent-based immigration is a core competency for Canada, and 17. Envoy 2019 Immigration Trends Report. forced to do more with less should easily an opportunity to double down its position globally. As the U.S. 18. Data compiled by BDC Capital. Sources include: Government of Canada “Annual Re- ports to Parliament on Immigration, 2014-2019.”, U.S. Department of State “Non-im- transform into by-the-numbers’ superior consistently closes channels to immigration, will Canada continue migrant Visa Statistics”, Statistics Canada, U.S. Census Bureau. companies. Proximity matters less and less as its pattern of opening up? In an economy where one of five tech 19. Most common countries in each continent: Europe: United Kingdom (7%) and Germa- ny (5%). Asia: India (4%) and China (3%). a result of COVID; Canadian companies should workers is foreign-born30, Canada may very well be the place the next generation of entrepreneurs and operators choose to 20. Prospect. State of the Startup Talent: Q1 to COVID-19 Report. now feel emboldened. To be sure, COVID has 21. Data provided by Prospect. Measured by total jobs active on Prospect from January 1 caused dislocation and the need to rethink make home. to December 31, 2019. value propositions, but we are still in the early What is the call to action? Canada’s expat community and diaspora 22. Data provided by BDC Capital. network can play a key role in propelling our nation forward: it’s 23. Data compiled by BDC Capital. Sources include CB Insights, CBRE Research. 2019 innings of global digitization. It is essential Scoring Tech Talent, CVCA. about the power of people and community. our entrepreneurs continue to tackle difficult 24. The Conference Board of Canada. Canadian Overview: Provincial Outlook Spring 2020 - Preliminary Forecast. problems, think globally and leverage Canada’s 25. Prospect. The State of Startup Talent: Q1 to COVID-19. powers of attraction as it relates to immigration 26. CVCA. VC & PE Canadian Market Overview, Q1 2020. and culture. We are poised to succeed. 27. Prospect. The State of Startup Talent: Q1 to COVID-19. 28. CPE Analytics: Canadian Venture Capital Report, 2017-2019
DAVID ROZIN 29. CIBC: The Future of IT Spending - The Pandemic’s Effect on Software Spend Quanti- Vice President and Head, Technology fied: May 2020. and Innovation Banking, Scotiabank 30. Immigration, Refugees and Citizenship Canada, 2018. Team 45 PEOPLE 46 Charter Members Team People Members CO-CHAIRS
ANDRE CHAROO SHARI HATCH JONES Founder & General Partner, Founder & Managing Partner, Maple VC Sightline Coaching San Francisco Bay Area San Francisco Bay Area
BOARD OF INCOMING BOARD OF DIRECTORS DIRECTORS FOR 2020
JANET BANNISTER ANDREW D’SOUZA SEAN HARRINGTON J. KIM FENNEL Managing Partner, Co-Founder & CEO, VP City Solutions, Verizon Former Head of Global Real Ventures Clearbanc San Francisco Bay Area Product Partnerships, Uber Toronto Toronto Chair of the Membership San Francisco Bay Area Committee
RUTH HENNIGAR JENNIFER HOLMSTROM ANTHONY LEE MICHAEL HERSHFIELD Board Member Head of Talent, GGV Capital Managing Partner, Global Vice President San Francisco Bay Area San Francisco Bay Area Altos Ventures of Inside Sales, WeWork San Francisco Bay Area, Chair New York City of the Governance Committee
YEN LEE SHAAN PRUDEN A JAY ROYAN ANGELA TRAN Chief Strategy Officer, JLL Senior Director, Partnership Founder & Managing General Partner, San Francisco Bay Area Management, Apple General Partner, Mithril Version One Ventures Chair of the Entrepreneurship San Francisco Bay Area Capital Management LLC San Francisco Bay Area Committee Austin
CURT SIGFSTEAD BRAM SUGARMAN Chief Financial Officer, Director of Corporate Clearbanc Development & Strategic San Francisco Bay Area, Chair Partnerships, Shopify of the Revenue Committee Toronto
STAFF
LAURA BUHLER VANESSA GREGSON MEGAN BACIGALUPI JOSHUA GOODFIELD Executive Director, C100 Operations Manager, C100 Program Manager, C100 Partnerships Manager, C100 PEOPLE 47 PEOPLE 48
Co-Chairs Emeritus
TORONTO Expressing gratitude on behalf of today’s community for the NEIL SADARANGANEY CALGARY NEW YORK CITY Managing Director, NTT & WATERLOO visionary leadership of C100’s Past Co-Chairs. CORRIDOR Docomo Capital PATRICK LOR GEOFF LEWIS Managing Partner, Founder & Managing JOEL SCOTT CHRIS ALBINSON KATHERINE BARR SCOTT BONHAM TERRY DOYLE JANET BANNISTER Partner, Bedrock Co-Founder & COO, Panache Ventures Co-Founder & Managing Partner Emeritus, Wildcat Board Director GM International, Checkr Managing Partner, Capital NYC SVAcademy Director, BreakawayGrowth Venture Partners Real Ventures KEVIN SWAN Co-Head, Global Private CURT SIGFSTEAD AUSTIN NILAM GANENTHIRAN Markets, Shareworks Chief Financial Officer, President, Instacart SEAN HARRINGTON LARS LECKIE ANTHONY LEE ANGELA STRANGE Clearbanc AJAY ROYAN KARIM GILLANI Founder & Managing VP, City Solutions, Verizon Managing Director, Hummer Managing Director, General Partner, a16z ROBERT SIMON General Partner, Luge Capital EDMONTON General Partner, Mithril Winblad Venture Partners Altos Ventures Managing Partner, IT Venture Fund, BDC DOUG HAMILTON DAVID QUAIL President & CEO, Vasomune VP of Technology, Medo. DALLAS TODD SIMPSON Therapeutics AI Partner, inovia Capital Charter Members WAEL MOHAMED MIKE MCCAULEY President, Trend HARRY SINGH General Partner, Garage Capital SEATTLE Strategic Transactions & Forward Capital Partnerships, Facebook MIKE SERBINIS SAN FRANCISCO JONATHAN EHRLICH DEEPAK KAMRA ALI NAZER Founder & CEO, League Inc. KRISTEN BAY AREA Partner, Foundational Capital General Partner, Canaan Global Director of Product, SUKINDER SINGH CASSIDY HAMILTON LONDON, UK Partners Marketing, Gaming, eComm, President, StubHub JAMIE SHULMAN CEO & Founder, RAHIM FAZAL and Travel, Facebook Co-Founder & Co-CEO, multiple exited PATRICK TREVOR ADEY Co-Founder & CEO, ALEXANDER KOLICICH Investment Partner, McCaig CLARENCE SO Hubdoc companies PICHETTE SVAcademy Partner, 8VC PEYMAN NILFOROUSH EVP, Salesforce Family Office Co-Founder & CEO, InPowered General Partner, BRAM SUGARMAN MARK RELPH inovia Capital J. KIM FENNELL GARY KOVACS MARK SOCHAN Director of Corporate CHRIS ALBINSON Managing Director, Director & Head of CEO, Accela CHRIS O’NEILL Managing Director, CEO Quest Development & Strategic Co-Founder & Managing Fleet Hill Ventures, LLC Partner, Portag3 Sales and Go-To-Market Partnerships, Shopify Director, BreakawayGrowthFund DENIS LACASSE ANGELA STRANGE - IoT, Amazon Web HOWARD FIELD Co-Founder, GCX Solutions ALY ORADY General Partner, a16z Services SANJAY BERI CEO, Greenfield Global Founder & CEO, Tonal MONTRÉAL Founder & CEO, Netskope DEBBIE LANDA JAMIE SUTHERLAND OLIVER FRIEDRICHS Former COO, StyleSeat MIKE PARKER Co-Founder & CEO, Sonix.ai LEONARD BRODY Founder & CEO, Phantom Cyber Global President, iCrossing STEVEN ABRAMS President, Clarity Digital Corporation LARS LECKIE KEVIN TALBOT Partner, IT Venture Managing Director, HWVP DOMENIC PERRI Managing Partner, Relay Fund, Strategic Investments and VALERIE BUCKINGHAM SHUMAN GHOSEMAJUMDER Partner, Vertex Ventures US Ventures Women in Tech Fund, BDC CMO, Drop Global Head of AI, F5 ANTHONY LEE Managing Director, Altos RON PIOVESAN ANGELA TRAN CHRIS ARSENAULT MICHAEL BUHR MICHELLE GONZALEZ Ventures Business Development, Okta President & CEO, Filld General Partner, Version One Partner, inovia Capital Head of Area 120, Google Ventures YEN LEE DORRIAN PORTER JEAN SÉBASTIEN (JS) NANCI CALDWELL ROBSON GRIEVE Chief Strategy Officer, JLL Founder & CEO, Vestaboard COURNOYER Corporate Director MATT TREVITHICK CMO, Pure Storage COO, Google AI Quantum General Partner, Real Ventures LUC LEVESQUE CHARLES (CJ) PROBER ANDRE CHAROO SEAN HARRINGTON Head of International Growth, CEO, Tile DAX DASILVA Founder & Managing Partner, MANOJ VERMA VP, City Solutions, Verizon Shopify CRO & Co-Founder, TabaPay CEO, Lightspeed POS Maple VC SHAAN PRUDEN Investing time with C100 fills me with OSSAMA HASSANEIN Senior Director, Partnership CATHERINE COURAGE SEAN LYNCH BRETT WILLMS optimism and passion for the next wave Chairman, Rising Tide Fund Co-Founder, Census Management, Apple VP Experience, Indeed.com VP, Ads & Commerce, Google VANCOUVER of Canadians entrepreneurs. As a Charter SHARI HATCH JONES PHILIPPE MARINIER ROBIN PUROHIT ART WONG LARA CUMBERLAND Founder & Managing Partner, Co-Founder & CEO, Peritus.AI Member, I am plugged into many ways Founder & CEO, Cabrico CEO, Trustwave DENNS VP, M&A Integration and Sightline Coaching to share my experience and give back Program Management, PILARINOS RUSS MCMEEKIN IRV REMEDIOS MICHAEL WORRY to the very ecosystem that provided me Facebook RUTH HENNIGAR Co-Founder & CEO, MCloud CEO, Voxer Founder & CEO, Nuvation Director, Developer Board Member Energy Technologies, Apple with countless opportunities. C100 is MIKE DINSDALE KARAN MEHANDRU OLEG ROGYNSKYY CFO, Gusto JENNIFER HOLMSTROM General Partner, Trinity Founder & CEO, People.ai MARIANNE WU DANNY ROBINSON about community, paying it forward, and Head of Talent, GGV Capital Ventures President, GE Ventures CPO, IQMetrix remembering just how great it is to be ADRIENNE DOWN COULSON KEVIN ROONEY COO, Rakuten Americas ARIF JANMOHAMED MARILYN MERSEREAU Partner, Cooley LLP WILLIAM YU BORIS WERTZ a Canadian. General Partner, Lightspeed CMO, RMS Managing Partner, Cansbridge Founder & General Partner, TERRY DOYLE Venture Partners OLIVER ROUP Version One Ventures GM International, Checkr Capital CHRIS O’NEILL, PEDRAM MOKRIAN VP Product, Instacart SUTHA KAMAL Charter Member, CLAUDE DUPUIS Adjunct Professor, Stanford MICHELLE ZATLYN Partner, Portag3 Ventures Global CTO, Pivotal Software JEFF RYAN Co-Founder & COO, Cloudflare Former SVP, Products & University Chief People Officer, Zynga Technology, Qumu PEOPLE 49 PEOPLE 50
Members in C100’s New Membership Program
JONATHAN ABRAMS SAMUEL COOPER JAMIE KNOWLTON MICHELE ROMANOW Co-Founder, 8-Bit Capital Co-Founder, Phenomic AI Co-Founder & CFO, Better Co-Founder & President, Place Forests Clearbanc SOLON ANGEL MARIA CUASAY Founder & CSO, Mindbridge AI Growth Marketing Lead, Lyft SEAN LANGUEDOC IZZY ROSENZWEIG CEO, Code in Canada CEO, Browze ANDREW ANGUS ED DOE VP, Sales Development, VP & GM, Barefoot Networks ALEXANDRE LAZAROW MICHAEL SCISSONS NinthDecimal (Intel) Director, Valiant Ventures Founder & CEO, Careerlist GALINA ANTOVA ANDREW D’SOUZA YVES-GABRIEL LEBOEUF FRANCOIS SIMARD Co-Founder & CBO, Claroty Co-Founder & CEO, Clearbanc Founder & CEO, Flinks.io Co-Founder & CEO, Omnirobotic Inc. PRAVEEN ARICHANDRAN BILL DI NARDO ANDREW LOCKHEAD Head of Growth, Citizen CEO, Pivotree CEO, Stay22 KIRK SIMPSON Co-Founder & CEO, Wave ALI ASARIA ANDREA DRAGER DEREK LUKE CEO, Tulip Retail Principal, Azure Capital CEO, Interaxon JASON SMITH Co-Founder & CEO, Klue TIM ATTIA CURTIS DUGGAN DONNA LITT Co-Founder & CEO, Slice General Manager, Digital Co-Founder & COO, Kiite GREGORY SMYTH Therapies, Virgin Pulse Group Manager, Tesla GEORGE BABU JASON LOR Founding Partner, Sweat Equity DANIEL EBERHARD Former Hardware Tech Lead, ETHAN SONG Ventures Co-Founder & CEO, KOHO Apple Co-Founder & CEO, Frank & Oak AMANDA BAKER JOSEPH FUNG ANDREW LUGSDIN Engineering Program Manager, Co-Founder & CEO, Kiite Founder Partner, Framework DAVID STECKEL Apple Venture Partners President, Setter MICHAEL GARRITY JEREMY BELEJ Co-Founder & CEO, FinanceIt KYLE CAMPBELL PETER STROM Director of Customer Success & Co-Founder & CEO, CTO.ai President & CEO, March Account Management, ANDREW GRAHAM Networks Good&Co Inc. Co-Founder & CEO, Borrowell JOE CANAVAN CEO, NEXT Canada LYDIA VARMAZIS ANDRÉ BERTRAM TATE HACKERT VP, Products, Checkr Co-Founder & CEO, HelpWear Co-Founder & President, DON MACLENNAN ZayZoon SVP, Engineering & Product, MIKE WESSINGER SEAN BONDAR Barracuda Networks Co-Founder & CEO, SVP, Global Tech Sector Market ANDREW HARRISON PointClickCare Leader, AECOM Head of Business & Corporate MICHAEL MACLENNAN Development, Verily Life Hardware Product Manager CASPER WONG NARJÈS BOUFADEN Sciences Team Lead, Square Co-Founder & COO, FinanceIt CEO, Keatext SEAN HINTON ADRIAN MOISE EVA WONG KYLE BOULAY Founder & CEO, SkyHive Founder & CEO, Aequilibrium Co-Founder & COO, Borrowell Co-Founder, Bus.com Technologies Software JASON XU ELIZABETH CALEY VINCENT IRCANDIA ROHAN MAHIMKER Co-Founder & CEO, Battlefy Senior Director of Technology, Founder & CEO, StellarAlgo Co-Founder & CEO, Chan Zuckerberg Initiative Corp. ProdigyGame DEREK YAN Co-Founder & CTO, Polarr KYLE CAMPBELL CORY JANSSEN AYDIN MIRZAEE Co-Founder & CEO, CTO.ai Co-Founder & CEO, AltaML Founder & CEO, Fellow ALICE YANG Co-Founder & CSO, VivaVax JOE CANAVAN HANIF JOSHAGHANI RAED A. MASRI CEO, NEXT Canada Co-Founder & CEO, Symend Partner, Transform VC FANGJIN YANG Inc. Co-Founder & CEO, Imply HANNAH CHO HENRY NG VP Corporate Communications, CRIS JUCAN Software Engineer, Tesla BMC Software Founder & CEO, Tacit Innovations GUILLAUME RACINE JEFFREY COBOURN Co-Founder & CEO, Return Finance & Business Operations STEVE KIRKHAM Magic (Shopify) and Strategy, Gusto Co-Founder, Berbix EAMMON O’ROURKE BRIE CODE IAN KLASSEN Co-Founder & CEO, RenoRun Founder & CEO, Tru Luv Senior Director of Product, GoPro SAM PILLAR NEIL CONSTABLE Co-Founder & CEO, Jobber Chief Investment Officer, CircleUp GROW TOGETHER
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