The MaRS DISCOVERY DISTRICT ENTREPRENEURIAL ECOSYSTEM PROJECT

Analysis by Ellen Farrell, PhD and Nathan Dennison, MBA MA

2 1 TABLE of CONTENTS MaRS DISCOVERY DISTRICT Mars District and the Atlantic Entrepreneurial Ecosystem Project...... 3 ENTREPRENEURIAL Genesis of the Research...... 4 Methodology & Network Theory...... 5 ECOSYSTEM PROJECT Impact Analysis...... 5 Reading the Charts...... 6 Nodes...... 6 Relationships are important. They are important because recognized as accelerants for economic development innovation does not exist in the air, and entrepreneurial opportunities and regional advantage. Edges...... 6 opportunities do not appear out of nowhere. Important Centrality...... 7 for innovations and entrepreneurial consequences Developing an ecosystem is a means to cultivating Survey Descriptives...... 7 by foraging for innovative opportunities and forging entrepreneurial opportunities. In an ecosystem, those entrepreneurial firm performance, knowledge is tracked who are well-embedded with extended networks have Ecosystem Results...... 9 and traded between economic actors in defined improved innovation outcomes due to the facilitations Entrepreneurial Ecosystem of Organizations...... 9 networks. Indeed, start-ups often begin with little and flows of knowledge through them. Deliberately MaRS Discovery District Organizational Ego Network...... 14 more than the social networks of their founders, and placing themselves amongst a variety of clusters of entrepreneurs compensate for their lack of financial, relationships confers informational advantages upon Entrepreneurial Ecosystem of Individuals...... 18 market and information resources by drawing on the well-connected. Innovators develop superior ideas Results of Ecosystem of Support Organizations...... 21 their family, social and professional networks. These in discussion with others, combine ideas to create new Support Organizations Impact on Fundraising & Capital...... 22 networks provide them with access to information and business models, execute customer discovery, and help Support Organizations Impact on Markets, Revenues & Strategic Customers...... 24 resources without having to engage, or pay for it. Using product-market fit concepts unfold. the capabilities of people they know, and make a point Support Organizations Impact on Governance & Operations...... 26 of knowing, entrepreneurs parse out the details of Another method to further economic transformations Support Organizations Impact on Finding & Retaining Talent...... 28 knowledge they acquire, the ideas it spawns, and get is the approach of encouraging entrepreneurial Support Organizations Impact on Product Development Advice...... 30 feedback and resources. relationships one entrepreneur at a time. Building on a business leader-led approach, mentorship programs Results of Respondents and Their Investors...... 32 In locales where many entrepreneurs are situated, identify potential high-impact entrepreneurs who Results of Respondents and Their Mentors...... 34 the notion of entrepreneurial ecosystems describes become the recipients of advisory experience and advice Results of Respondents and Their Inspirers...... 36 the network of ties and support systems that connect to help scale their businesses. Some of these high- Discussion...... 40 entrepreneurs to finance, professional services, impact entrepreneurs go on to become very successful information, support, technology, and one another. and pay it forward by mentoring developing aspirers. Support Organizations...... 40 Born out of the concept of clusters, entrepreneurial The outcomes desired by mentorship-aspirer methods Mentors...... 40 ecosystems and clusters of innovation describe are buttressed by a well-developed ecosystem network. Actions...... 42 knowledge relations established amongst various The effectively networked entrepreneurial ecosystem constituents in an environment where many young firms provides the petri dish for mentorship programs to Questions Raised by the Research...... 42 are situated and innovation activities are spawned and cultivate potential high-impact founders and aspirers, as Suggested Readings...... 44 nurtured. The importance of entrepreneurial ecosystems well as already-successful founders to act as mentors. is gaining currency because networks have become 3 The network’s high-impact nodes increase as pay-it- The MaRS Discovery District’s interest in augmenting Dr. Farrell provided her team’s IP, advice, research, 8. Chart preparation and printing (where deemed forward mentors and entrepreneurial success proceed. their ongoing research efforts by pursuing similar methodology, and oversight to the staff of the MaRS Data necessary as subsequent deliverables) Well known organizations such as MIT’s Venture network-based knowledge explorations began with Catalyst Centre: Mentoring Service, and companies such as Endeavor some preliminary discussions in 2016. During those 1. Support and use of survey methodology During the survey creation phase, the focus of the promote the value of mentors in a variety of types of discussions, a large component of the scope of the work 2. Oversight of the survey customization, sample research landed on elements that were more similar to ecosystems. was assumed by MaRS Data Catalyst to contain costs. selection, distribution, and outbound activity the Endeavor survey (rather than knowledge-search based MaRS Discovery District’s resources would be mobilized development innovation discovery). This caused the responsibilities This research report is the assessment of the to reduce the labour associated with the delivery of a 3. Identification of appropriate variable operands of the MaRS staff to increase as the data had to be entrepreneurial ecosystem of an optimum two-part significantly large research project and concomitant costs. 4. Execute analysis and results formatted and re-coded to adapt to the network theory environment described above. This report outlines the At the District’s discretion, the data collection and survey 5. Interpretation approach. MaRS Discovery District’s entrepreneurial ecosystem preparation work was heavily weighted to their staff. The 6. Communicating results digitally network and the network’s capacity to provide the culture provision of these resources were a key element of the 7. Report preparation for nurturing entrepreneurs. delivery of the work.

GENESIS of THE The MaRS District took responsibility for: 1. Advance and concurrent promotion and awareness METHODOLOGY & RESEARCH generation of survey initiative 2. Creation and preparation of the survey sample Understanding entrepreneurs’ knowledge networks and 3. Customization of the survey instrument NETWORK THEORY entrepreneurial ecosystems has become a policy pursuit 4. Creation of a network theory database sufficient for for governments interested in hastening economic expected number of variables and cases outcomes that accompany such endeavours. In 2014, 5. Survey distribution, follow-up, and redistribution to Network analysis takes advantage of sophisticated edges are based on information provided by the the Atlantic Entrepreneurial Ecosystem Project began potential respondents software to examine the position and structure of respondents to the MaRS Data Catalyst in a survey the examination of innovation-seeking behaviours of 6. Creating the database and entering data a collection of relationships amongst a group of instrument distributed via the web. the entrepreneurial constituents on Canada’s east coast 7. Securing additional information about outbound participants. The variables that are measured can by examining who was looking to whom for what type entities (constituency, locale, type of organization, be many (the antecedents), as are the consequences The population was a compilation of the distribution of information. Investigating the knowledge acquisition industry, stage of development) (the outcomes). Hence, it lends itself to many types lists of 17 supporting organizations affiliated with of entrepreneurs and other ecosystem constituents in 8. Cleaning secured data (acronyms and names, of work. For many projects, the sophistication allows MaRS. The survey-based data is constructed around the region led to subsequent meaningful findings and misspellings, duplications, organizational subsidiaries and the measurement and empirical testing of hypotheses making decisions about specific types of questions and propelled the Project onto an international stage. divisions) developed about a population. This section looks at the painstakingly encouraging and motivating respondents to 9. Liason with Project Leader regarding preparation, MaRS focused impact analysis and several constructs reply to the survey. It has produced extremely rich data The genesis of the relationship between MaRS and the execution, interpretation and delivery of results necessary to interpret and read network charts such as and results and extensive context. Atlantic Entrepreneurial Ecosystem Project began at the 10. Knowledge mobilization centrality, nodes, and edges. international conference hosted by Ryerson, Tsinghui, and 11. Security of dataset and adherence to Protection of Oxford Universities during the summer of 2015 at Ryerson Privacy legislation This work is not a who knows who, or who follows who, or University. MaRS later participated in a large conference 12. Liability associated with anti-spam legislation who is linked to who. This work does not use data from sponsored by Saint Mary’s University featuring the work of a LinkedIn account, nor a Facebook membership, nor IMPACT ANALYSIS Dr. Ellen Farrell and Nathan Dennison with participation a Twitter account where network data are downloaded from world-class scholars, policy organizations, significant with the permission of the participants and hundreds/ The purpose of this work is to investigate the use entrepreneurial and educational bodies such as the thousands of data points are collected for a single of support organizations and their connectivity with Kauffmann Foundation, and industry leaders such as Gerry participant. The MaRS Discovery District’s network entrepreneurs. This objective focuses on the curious Pond. analysis uses data that is survey-based with carefully nature of individuals who take the initiative to search for crafted questions and objectives. All the nodes and information. The search – an action – is a behavior which 4 5 Centrality level and margin of error interpretations. can be identified and measured. Shining a spotlight supporter, or relationship between the node and the on these curiosity-calming actions and attempting to alter. Interpretations are discussed in each section. Centrality is the relative position of a node relative to the Surveys are sensitive to absent data, but it is more of a illustrate the resulting connectivity is the trademark of rest of the nodes in the chart. A node is driven towards burden for smaller populations where the missing data the Atlantic Entrepreneurial Ecosystem Project and the the centre of the chart when a large number of edges can produce relatively large deviant outcomes. (Health MaRS Discovery District’s analysis. A latter objective was Edges are connected to that node. Such nodes seem important Leaders participating in Ontario’s Child and Youth Mental designed to look at the individuals’ efforts with mentors The edges are the lines that connect the nodes to one because the large number of edges involved makes Health program needed 36 of the 37 participants to and inspirers and investors. another and represent the interpersonal relationships them appear popular, or because removing it might respond for the peer reviewed Education Policy Analysis 4 between the nodes (the inspirer, mentor, investor, considerably disconnect the network, or because the Archives) . Almost 300 observations is not small and READING the CHARTS support organization, etc.). The edges help us many edges define longer channels of influence. this work is less susceptible to the liability of smallness. understand the level of connectivity between nodes: Furthermore, large networks almost never survey the whether certain nodes are more involved than others; In the hundreds of complex interactions, the more central entire network when applying social network analysis It takes considerable insight to interpret the charts. And whether many nodes will cluster into larger groups; or a node, the more contribution it makes to entrepreneurial because of the complexity. The temptation to have an not all charts present their results in the same manner. whether some nodes will appear dominant. ecosystems’ structures. Centrality in information flows analysis and picture of an entire network is overcome Because of this, it is important to understand the The edges also represent the direction of the ties generally predicts opportunities and advantages because by efficient methods that study small sweeps of egos construct being measured in each chart (the measures between two nodes. Close (very close!) examination centrality implies a larger collection of intellectual and networks -- individuals’ networks. are different for each chart that is subsequently shown will show a pointed end and a blunt end to each edge. human capital coalescing as those with expert abilities here) and the nature of the resulting relationships. In The blunt end is the respondent to the survey, and and knowledge are sought after for their talent and Electronic mail out surveys such as that used by the some cases, the charts represent real relationships the pointed end is the person or organization they advice. MaRS Data Catalyst have the benefits of low issues of between the respondent and another individual (Who identified. The predominate flow of information is sensitivity, low interviewer response effects, low data was your mentor? Your investor?) and sometimes requested by respondents (founders) of their mentors, handling errors, and low administration costs. Electronic they represent ideas or thoughts of the respondents support organizations, or investors (alters). There are no SURVEY methods are also accompanied, however, by a low ability (Who was your inspiration?). In other cases, they edges emanating from alters. to establish rapport with respondents, and a low ability to ask specifically about the respondents’ sources of DESCRIPTIVES elicit participation5. An affiliation component -- since the information with respect to important topics. The Alters (those mentioned by respondents) were surveys were mostly distributed by local associations and discussion about each chart will highlight different not subsequently surveyed with non-probability A total of 285 participants responded to the MaRS support groups under the MaRS umbrella – helps mitigate interpretations amongst the measures and the results. convenience sampling, a common feature of network Discovery District survey. This is a large number of those concerns. theory, so the further reach of the network is not respondents given the population size (approximately Three concepts are most important to studying the represented. A concern about the legal implications of 4000 though not all entrepreneurs). The MaRS survey charts: nodes, edges, and centrality. surveying non-members prevented MaRS Data Catalyst results are a very successful effort by the MaRS Data 2 The margin of error is the percentage identifying how much the behaviour from collecting this information1. Catalyst. Significant journals would find 285 respondents described in the results is likely to deviate from the population in general. from a 4000-member population, at a 95 percent Nodes confidence level producing a margin of error of 5.59 3 (Kim 2014); (Jin, Vonderembse, and Ragu-Nathan 2013); 1 2 The nodes are the coloured circles, each of which New methodologies, such as response driven sampling, now allow for very accu- percent , an acceptable hurdle. (Take for example, rate statistical inferences to be made with non-probability convenience sampling represents a person or an organization, the entities of recent network theory studies published by Journal of 4 (Rodway 2015) whereas, previously, biases associated with non-probability convenience sampling the dataset including the respondents and the people Operations Management with 106 surveys from a target were the respondents mentioned. One node represents one population of 1050, or 201 useable responses from a considered to produce inferences that were highly subjective. person or one organization depending on the chart 7909 target population in the International Journal of 3 in question. Alter is the term given to the persons or Production Research) . Moreover, usual response rate organizations (also nodes) that are mentioned by the statistics are less constraining in network analysis as the respondent nodes. The colours of the nodes represent inherent dependence amongst the nodes, the boundaries different values or rankings depending on the chart established of the survey group, and the number of edges in question, such as the type of constituent, type of exert more influence and confound normal confidence 6 7 Figure 1 - Respondents’ Type outlines the make-up and mentioned 652 other persons or organizations (alters). The report proceeds as follows, first looking at the whole Organizations. The last three results sections highlight the distribution of the respondents to the survey. Based on This represents 2.3 alters per respondent. This average ecosystem from the perspective of organizations and Investors’, the Mentors’, and the Inspirers’ relationships to the population sampled the distribution of respondents may seem low to the casual observer, however, the then individuals. The next section examines the detail in the entrepreneurs. A discussion concludes the report. seems appropriate, mostly composed of entrepreneurial questions asked of Respondents directly mentioned the requests for information by Respondents of Support firms with a small sampling of professional, support alters who fell into the categories of Co-Founders, groups, venture capital, and universities responding. Inspirers, Mentors and Support Organizations. Thus, the For many of the professional organizations that come in Respondents were limited to specific types of alters they contact with the survey (consultants, lawyers, accounting were invited to mention6 rather than being open ended. advisors, etc.), responding about client relationships is ECOSYSTEM RESULTS a breech of professional conduct which they rightfully decline. Figure 3 - Survey Descriptives

This section examines the total data provided from the The organizations mentioned more frequently are Figure 1 - Respondents’ Type Alters’ Type Reported by Respondents # % perspective of the organizations in the ecosystem, the identified by larger nodes which are based on their in- Mentor 270 41% Respondents # % MaRS ego network, and the perspective of the individual degree. In this work, the edges between nodes have a Co-founder 204 31% Entrepreneurial Firm 240 88% persons in the ecosystem. direction from one node to another. In-degree measures Inspirer 97 15% Support Organization 14 5% 1. The first sub-section looks at the data from the the number of edges connected to a specific node which Investor 37 6% Professional Services 14 5% viewpoint of the organizations noted by respondents are directed towards that node from another. The larger Support Organization 38 6% Venture Capital 2 1% and their alters. nodes are clear in Figure 4. NA* 6 1% University 2 1% 2. The second sub-section of this analysis NA* 2 1% investigates the MaRS Discovery District’s node and A number of distinct constituencies emerge here the organizations connected to it by any number of as directed by the research objectives, principally pathways. entrepreneurs, mentors, inspirers, investors, universities 3. The third sub-section examines the data by and support agencies. There are 207 disconnected Figure 2 outlines that 75 percent of the respondents (The percentages presented in Table 3 are based on looking at the individuals named in the data. components (clusters or small communities of nodes). were men and 20 percent were women. figures which, if their absolute values were summed, Because numerous people cited by the survey For each cluster, or component, the respondent is would result in higher numbers than the total of unique respondents serve as representatives of the same generally in the centre and their alters branch out Figure 2 - Respondents’ Gender nodes because of the prevalence of some nodes organizations, it changes the appearance of the around them. In social network analysis, the presence being cited multiple times, and sometimes in different data, nodes, and edges considerably. of many disconnected components indicates a lack Respondents’ Gender # % categories. For example, MaRS Discovery District was of cohesion and a less dense chart. The components Male 223 75% cited 10 times in the survey results, eight of which that are not connected with others are more isolated in Female 60 20% were in the role of Mentor, one as Inspirer, and one as their environments. This absence of edges spanning Prefer Not to Report 2 1% Investor. MaRS IAF was also referenced three times: two to other components reveals structural holes -- places Not available 11 4% as an Investor, and once as a Mentor.) ENTREPRENEURIAL Total 285 100% where relationships do not exist and insulates ecosystem ECOSYSTEM OF participants from one another. People and organizations

ORGANIZATIONS that step into the structural holes improve the distribution 5 of knowledge across their own network and communities The data set is complemented by the persons and Borgatti, Stephen P, Martin G Everett, and Jeffrey C Johnson. 2013. Analyzing Social Networks. London: Sage Publications Ltd. p 55. of nodes, thereby benefiting themselves and those who organizations that the Respondents mentioned. The complete dataset of organizations has 637 nodes and are in contact with them. Respondents were asked to identify others to whom they 6 Whereas other types of similar works may have had much larger “alters per 436 edges and is represented in Figure 4 - Ecosystem of had reached out under the categories of Co-founders, respondent,” those methodologies allowed respondents to identify their alters from Organizations. The small groups of nodes are clearly visible Inspirers, Mentors, Investors or Support Organizations. any category of individual who impacted their business or search for information. on the periphery, and a larger group of interconnected Figure 3 - Alters Reported by Respondents show that Respondents nodes coalesces towards the centre. 8 9 Figure 5 - Top 10 Organizational Ecosystem Nodes by In-Degree

Node In-Degree Eigenvector Centrality Out-Degree MaRS Discovery District 17 1 0 RIC Centre 7 0.309497 0 Communitech 4 0.239797 0 Virgin Group 4 0.070721 0 Innovation Guelph 4 0.070721 0 Tesla 3 0.114952 0 Environmental Business Consultants 3 0.114952 0 MaRS IAF 3 0.114952 0 OCE 3 0.114952 0 Innovation Factory (Canada) 3 0.053041 0

Another way of looking at some of the larger nodes with high eigenvector centrality confers influence or more carefully is by inspecting their in-degree values in popularity because they are nodes that are connected to a table format. Figure 5 - Top 10 Organizational Ecosystem other nodes that have high eigenvector centrality. Nodes by In-Degree highlights the largest nodes by in- degree (the count of how many times the organization When ranked by their eigenvector centrality the list of was mentioned by other organizations in the survey). top ten nodes changes quite significantly, with only None of the top ten nodes ranked by In-Degree had MaRS Discovery District and RIC Centre being present an out-degree greater than 0 because none of the on both lists7. representatives from these organizations completed the survey. Figure 6 - Top 10 Organizational Ecosystem Nodes by Eigenvector Centrality. showcases the top ten nodes ranked by It is worth noting that eight out of the top ten eigenvector centrality. Due to the level of influence organizations, ranked by in-degree, are support the MaRS Discovery District exerts on the Organization organizations. This suggests that the entrepreneurial Ecosystem, the nodes closely associated with it also firms in this ecosystem are more connected to received a high centrality result. As such, all ten of the these support organizations than to other common nodes presented in Figure 1 are closely connected (1st ecosystem participants, such as academic institutions, or 2nd degree) to MaRS Discovery District. government agencies, law/accounting offices, and other entrepreneurial firms. The remaining two in the top ten were cited as inspirers (Richard Branson’s Virgin Group, and Elon Musk’s Tesla). 7 Degree centrality measures just the number of adjacent nodes, but does not weigh the centrality of the adjacent nodes.

Eigenvector centrality is the relative importance of nodes in a network. Eigenvector centrality counts the centrality of a node and weights the centrality of the all attached nodes in an iterative manner. Thus, nodes 10 11 alterna savings alterna savings

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technologies rates arm contrivances askaoms for technologies rates intervene design incorporated intervene design incorporated Y Combinator sheo Y Combinator sheo fintros fintros aposys technologies inc. aposys technologies inc. springpower international inc. springpower international inc. timehero timehero nex technology capital nex technology capital fset inc. fset inc. fika inc. fika inc. ovrsyte (formerly site stream remote monitoringovrsyte) (formerly site stream remote monitoring) NSERC NSERC Startup Canada Startup Canadanowanswers corp. nowanswers corp. sports nut sports nut OCE OCE united crm united crm founder, rolls-royce motor cars. founder, rolls-royce motor cars. smart flow sheet (veterinarium) smarton your flow plate sheet (veterinarium)tagd on your plate tagd Greencentre Canada Greencentre Canada OCAD University- Imagination Catalyst OCAD University- Imagination Catalyst Humber College- Humber Launch Humber College- Humber Launch cooler solutions cooler solutions nufuzion design nufuzion design y combinator y combinator hapsys hapsys a&w dauphin manitoba a&w dauphin manitoba kids& company kids& company lika inc giffelslika associatesinc ltd. giffels associates ferstltd. capital ferst capital staff stat staff stat revelo bikes (lifebike) revelo bikes (lifebike) husky energy asia husky energy asia vapium vapium quartz nature quartz nature greyhound agency greyhound agency ooka island inc. ooka island inc. sky service sky servicesearch fund partners search fund partners chinook capital group, llc chinook capital group, llc biancos biancos exelerate capital exelerate capital fourhourworkweek.com fourhourworkweek.com a&w dryden ontario a&w dryden ontario MaRS Discovery District MaRS Discovery District future design school future design school benchsci benchsci social actions social actions gerald risk gerald riskeve-volution inc eve-volution inc mobytrip mobytrip tartanfrog tartanfrog ingenomics inc. ingenomics inc. storeyy.com storeyy.com free range ventures free range ventures iamsick.ca iamsick.ca windley ely windley ely stikeman elliott llp stikeman elliott llp a&w restaurant selkirk manitoba a&w restaurant selkirk manitoba forward water technologies forward water technologies axsource group of companies axsource group of companies rogers communications inc. rogers communications inc. dreambox learning dreambox learning danger capital, startup north danger capital, startup north anacapa partners anacapa partners jennifer cioffi consulting jennifer cioffi consulting dubgear dubgear knewton knewton devlos software devlos software polden consulting polden consulting punchbowl, inc. punchbowl, inc. riversides foundation riversides foundation the remix project the remix project university of toronto university of toronto obio obio raingrid, inc. grayraingrid, taylor inc. law gray taylor law memotext corp. memotext corp. ibinary llc ibinary llc visaplace.com visaplace.com venndor venndor logix logix deloitte deloitteoptirtc optirtc trilogy search partners trilogy search partners livetoaspire livetoaspire induce biologics inc induce biologics inc defyrus inc eyedro green solutions defyrus inc eyedro green solutions nicoya lifesciences nicoya lifesciences avesi stormwater avesi stormwater soroc technologies soroc technologies parents watertapparents ontario watertap ontario accelerator centre (waterloo) accelerator centre (waterloo) notetonic notetonic choice cosmetics choice cosmetics cyclica inc. cyclica inc. plasticity labs plasticity labs van meter inc. van meter inc. waterloo north hydro holdings waterloo north hydro holdings kinder design kinder design immunobiochem immunobiochem mcgill university suitmcgill your university target suit your target suncayr suncayr women for bosnia women for bosnia vivaspire vivaspire lockwood rentals lockwood rentals char technologies char technologies voomcarts (go buggy ltd) voomcarts (go buggy ltd) ccab ccab real ventures real ventures ironspan inc. ironspan inc. diftek lasers diftek lasers qoc health qoc health inca^? inca^? masood energy masood energy northern waste management northern waste management Communitech Communitechtribehr tribehr neurescence inc. neurescence inc. cxleap hge ltd cxleap hge ltd dykaar products, inc. dykaar products, inc. enersysnet / c3 enersysnet / c3 self employed self employed

i2o solutions inc. reactech processi2o solutions development inc. inc reactech process development inc daisy intelligence (makeplain) daisy intelligence (makeplain) the business centre- nipissing parry soundthe inc business centre- nipissing parry sound inc rec as rec as tasytt tasytt e cloud trainers inc. e cloud trainers inc. greymatter marketing greymatter marketing big dog sales consulting big dog sales consulting tranquility spa& salon tranquility spa& salon panvista panvista business advisory centre of durham business advisory centre of durham ivey business school ivey business school stathletes stathletes fidure corp. fidure corp. you are here - toronto you are here - toronto propose it! propose it! forest city sport& social club forest city sport& social clububercool ubercool

baby gear rentals baby gear rentals chris moss leadership chris moss leadership consultant (retired ceo) consultant (retired ceo) whatever's right studios whatever's right studios life design analysis life design analysis inelta strategies inelta strategies citymatch citymatch the chronosyouarehere project the chronosyouarehere project freepoint technologies freepoint technologies johnny fansher financial johnny fansher financial hybrid power solutions inc. hybrid power solutions inc. ecoinsight instruments ecoinsight instruments independent independent ace career fair ace career fair sagecomm sagecomm neemtree investment inc. neemtree investment inc. articentral articentralbelykon inc belykon inc web.is.odes web.is.odes monteco ltd. monteco ltd. access industrial inc lanciaaccess industrial inc lancia skymeter corp skymeter corp retrorenewables retrorenewables via biotech via biotech docit coconutinc health services docit coconutinc health services qreserve inc. qreserve inc. rpt communications rpt communications andrew the absolutely normal andrew the absolutely normal duropar technologies inc. duropar technologies inc. carleton university carleton university no1 tech systems no1 tech systems kendall technology inc. kendall technology inc. irap irap harbinger biotechnology& engineering corporatioharbingern biotechnology& engineering corporation mrastudio harbourfrontmrastudio circus harbourfront circus batchbank corp. batchbank corp. tecvanageospatial corporation niagara tecvanageospatial corporation niagara we are kix we are kix vitalsines vitalsines hospital connection hospital connection ivey school of business ivey school of business wagram springs inc wagram springs inc B-school B-school 3tree inc. 3tree inc. ex president maple leaf foods ex president maple leaf foods simply elaborate creative simply elaborate creative nextair nextair deka research and development corp. deka research and development corp. needls.com needls.com Figure 4 - Ecosystem of harpco systems harpco systems london small business centre london small business centre nextgrid inc nextgrid inc apeiron software limited apeiron software limited x prize foundation x prize foundation brunet co brunet co international strategic edge ince international strategic edge ince geco digital labs (geco canada) geco digital labs (geco canada) private investor private investor dubbeldam architects dubbeldam architects olivetti olivetti wishpad (casanomic ventures inc.) wishpad (casanomic ventures inc.) ric centre ric centre tech alliance tech alliance modgarden modgarden tossdown tossdown mddt inc. mddt inc. Organization prolucid prolucid anomera anomera regenerate (zooshare) regenerate (zooshare) surana jewels n/a surana jewels n/a autoadvise autoadvise gryllies gryllies yougotskooled yougotskooled myndtec inc. (formerly simple systems inc.)myndtec inc. (formerly simple systems inc.) bridesmade bridesmade quantius inc. quantius inc. big game hunting big game hunting jaswanth's kitchen jaswanth's kitchen write.think.do write.think.dvitruvius vr o vitruvius vr patientserv venuepatientser sportsv venue sports coley consulting coley consulting MaRS survey results representing cavera inc. cavera inc. mercana growth partners mercana growth partners apple inc. apple inc. fortrus financial inc. fortrus financial inc. smoothpay smoothpay digital webworks digital webworks mediate.ca mediate.caRyerson ICUE Ryerson ICUE hybrid financial inc. hybrid financial inc. the entire entrepreneurial rbc rbc blogs mean business blogs mean business electrefy inc electrefy inc microsoft microsoft

jillybean office support services jillybean office support services tyromer inc. tyromer inc. dyson dyson isobarex isobarex instecbio instecbio temporal power temporal power ecosystem. Only organizations emagin emagin

coldblock technologies (chemquant laboratories)coldblock technologies (chemquant laboratories)

omdc omdc hashtag paid hashtag paid cmf cmf were represented in this graph. discovery garden inc. discovery garden inc. joydrop ltd operating as mikutech joydrop ltd operating as mikutech retired retired live ca live ca agile humanities agency agile humanities agency performance envy performance envy snapeda snapeda galaxy photoz galaxy photoz kata accounting solutions kata accounting solutions validere technologies inc. validere technologies inc. merchapp ltd. merchapptrade chariot ltd. trade chariot datex datex roadmunk inc roadmunk inc robinson associated robinson associated bravoed inc. bravoed inc. clip level distribution inc. clip level distribution inc. techboomers.com techboomers.com cubexlab technologies inc. cubexlab technologies inc. eve tab eve tab 3terra 3terra Nodes: 637 Edges: 436 mrg media inc mrg media inc bantu app inc bantu app inc many investors many investors

www.sinkingship.ca www.sinkingship.ca fin+tech growth syndicate inc fin+tech growth syndicate inc nautic devices inc. nautic devices inc. ansik inc. ansik inc. birds in your backyard birds in your backyard patientserv corporation patientserv corporation Average Degree: 0.684 Average

spatial initiatives consulting spatial initiatives consulting

h2sorber h2sorber royal pak inc. royal pak inc. Path Length: 1.152 kent ho kent ho

nanoleaf nanoleaf trojan technologies trojan technologies paper industry--took company to acquisitionpaper industry--took company to acquisition

trivium industries trivium industries oes, inc oes, inc

don't know the name don't know the name st. clair technologies st. clair technologies social estate social estate participaid participaid log-one ltd. log-one ltd. xumee inc. xumee inc. ubiquilux ubiquilux meal exchange meal exchange erin rachel designs erin rachel designs rbc investor& treasury services rbc investor& treasury services justafrog.net justafrog.net 12 winning corporate services winning corporate services 13 meaglow ltd. meaglow ltd. Figure 6 - Top 10 Organizational Ecosystem Nodes by Eigenvector Centrality (171 of the ecosystem’s 637 organizational nodes) Looking at it from another perspective, 73% of all nodes Node Eigenvector Centrality In-Degree Out-Degree being connected to MaRS directly or via other paths that in the network are not connected with MaRS via any MaRS Discovery District 1 17 0 include many organizations. Information communicated pathway. Ooka Island Inc. 0.548039 1 9 by MaRS through its direct alters could circulate amongst Dreambox Learning 0.548039 1 0 all the nodes associated with MaRS. In practice MaRS’s A statistical comparison of the Organizational Knewton 0.548039 1 0 network is larger than mapped here because MaRS’s ties, Ecosystem data (degree > 0) from Figure 1 and the Danger Capital, Startup North 0.548039 1 0 such as the RIC Centre and Communitech, for example, MaRS Discovery District’s Organizational Ego Network Jennifer Cioffi Consulting 0.548039 1 0 also have many alters that were not surveyed. Therefore, (Figure 7) is presented in the following two tables. Ibinary LLC 0.548039 1 0 it is not possible to view an illustration of the Discovery The full Organizational Ecosystem represents the 536 Future Design School 0.548039 1 0 District’s true reach, as we are constrained by the data organizations which possessed connections to other Sky Service 0.548039 1 0 available from the survey. organizations8. RIC Centre 0.548039 7 0

A node such as the MaRS Discovery District is important Mentor relationships play a significant role in the populations of centre directors, nor professors of because of the size of the number of pathways, nodes, search for information in the MaRS Discovery District university courses, nor university-run accelerators and and the large number of edges involved therein. MaRS 8 The figures and images of the Organizational Ecosystem show an additional 101 ecosystem where a majority of ties between nodes relate incubators. Moreover, respondents who were affiliated is a hub and a pathway for many types of communication organizational nodes which were not connected to any other organizations. They are to mentorship activities. Mentors develop relationships with an incubator or accelerator may more readily circulating amongst the nodes of the network. included in the network figures, but are not part of the statistics in the two tables. with their mentees and it is normal that mentees feel identify with the named accelerator rather than the free to reach out to their mentors, and may do so university sponsoring it. Lastly, because the survey’s Removing the MaRS node from the ecosystem would before seeking advice from a professional or a support construction requested the respondents’ university considerably detract from pathways of information organization. Alternatively, they may turn to mentors affiliations as part of the respondents’ demographics, amongst these 171 organizations. By way of illustration, to identify where the best information may be further this may have mitigated their mentioning a university the next largest community of pathways connects only 13 sourced. as a source, or a contact further along in the survey nodes. instrument. Figure 7 - MaRS District’s Community within the Entrepreneurial Ecosystem The Universities mentioned include University of Toronto, Ryerson, Queens, Guelph and Humber College. ventures west omazo ventures textalive media technologies anyrand inc. nulogy corporation Their influence here is less prevalent than that in other MaRS DISCOVERY not sure eloqua gorkon industries univeristy of guelph planet earth power eros enterprises locations where a large university presence is evident in innovation guelph sales currently creating company mortgage broker various enriched home care sher's in consulting eqaoquizzer.com DISTRICT oprah comotion group inc. fantasia the entrepreneurial ecosystem. Given the importance fax-it international essa engineering innovation factory (canada) Arctern ventures sinclair technologies company of women technicolor ventures virgin group shopify inc squishloc hydrostor zenbanx canadian cancer society social impact enterprises sweet tooth inc of universities in other entrepreneurial ecosystems of mobileklinik cloudwalk inc. ORGANIZATIONAL blackberry tesla sunedison qkd corp spently to be determined ws global shoppad inc. turnstyle solutions clearevent inc financeit kit crm cnem corporation rideflag carpool on demand qd solar inc. advonex (altranex) elegant global consulting inc. the world, this is surprising, especially considering the veritablesoft inc. dymaxia MaRS IAF gaittronics inc. emailtopia corp. autonomicity games inc. hardboot inc. morgan solar inc. EGO NETWORK paymentevolution ord solutions temagami systems inc. metaflo technologies inc. DCSIL ontario teachers' pension plan board compucanada the story architect profitable conversions spark centre large number of well-recognized institutions in the MaRS motivindex clinicsense collision sciences inc. nevex virtual technologies cadet true sky inc composite transport technologies canada ltd. norcat green mantra wetraq RIC Centre bais-line design salesforce environmental business consultants hackjacket (federated network) pith& substance halion imaginea playxc customachinery inc. Discovery District’s geographic locale. knomos knowledge management inc. parachute software aoms technologies Y Combinator sheo fintros aposys technologies inc. springpower international inc. ovrsyte (formerly site stream remote monitoring) NSERC fika inc. Startup Canada nowanswers corp. OCE united crm founder, rolls-royce motor cars. Greencentre Canada OCAD University- Imagination Catalyst smart flow sheet (veterinarium) Humber College- Humber Launch kids& company lika inc giffels associates ltd. ferst capital An ego network is a part of a network that is chosen for revelo bikes (lifebike) husky energy asia vapium ooka island inc. search fund partners sky service chinook capital group, llc Three factors may explain the low levels of influence exelerate capital MaRS Discovery District future design school benchsci gerald risk free range ventures iamsick.ca tartanfrog stikeman elliott llp further examination and stems from a specific node as forward water technologies windley ely dreambox learning danger capital, startup north anacapa partners jennifer cioffi consulting attributed to universities and colleges in this ecosystem. knewton university of toronto obio raingrid, inc. gray taylor law riversides foundation ibinary llc the focus, this node is the ego of the sub-network. This deloitte optirtc trilogy search partners induce biologics inc defyrus inc eyedro green solutions avesi stormwater soroc technologies First, the survey instrument was not deliberately sent accelerator centre (waterloo) parents watertap ontario sub-section provides an analysis of the MaRS Discovery plasticity labs cyclica inc. van meter inc. waterloo north hydro holdings women for bosnia char technologies ironspan inc. diftek lasers inca^? to universities as constituents of an ecosystem, but Communitech tribehr neurescence inc. District as an ego network which includes all the nodes dykaar products, inc. principally to entrepreneurs via support organizations. which are directly, or indirectly, connected to MaRS. Perhaps the sample did not include significant

The MaRS ego network is by far the largest community 14 in the data set with 26.8% of the ecosystem’s nodes 15 Figure 8 - Whole Network and Sub-set by Constituent outlines Figure 9 - Whole Network and Sub-set Statsitics the percentage of the of the various constituent types found in the larger Organizational Ecosystem Organizational MaRS Ego Ecosystem Network compared with MaRS’s Ego Network sub-community. Measure The two ecosystems are quite similar. This suggests a representativeness of the smaller to the larger Nodes 536 171 ecosystem. In the larger ecosystem, 24.3 percent of the Edges 436 176 nodes are represented by Entrepreneurial Firms, whereas Average Degree .813 1.03 the MaRS Sub-community is somewhat lower (21.6%). Graph Density 0.002 0.006 Figure 8 - Whole Network and Sub-set by Constituent

Organizational MaRS Ego Ecosystem Network Constituent N = 536 N = 171 (%) (%)

Entrepreneurial Firm 24.3 21.6 MaRS’s smaller proportion of Entrepreneurial Firms are

Mentor 38.6 43.3 much more connected (1.03) than the ecosystem at large (.813) as evidence by the average degree comparison Inspirer 16.8 17.0 in Figure 9. Average degree is a reflection of the Investor 5.4 7.6 average number of edges to connected to nodes in the network. The table reflects the greater connectedness Support Organization 1.7 1.2 of the MaRS sub-community compared to the larger Professional Services 1.9 1.8 Organizational Ecosystem. The MaRS Discovery District Financial Institution 0.4 0.0 community expresses a higher average degree. Both the

University 0.4 0.0 Organizational Ecosystem and the MaRS Ego Network possess low density which is not unusual in large network Venture Capital 0.2 0.6 samples such as these. Density is an expression of the NA* 10.4 7.0 number of ties within the network as a proportion of the number that are possible; in a maximally dense graph -- The presence of Mentors in the MaRS sub-community equal to one -- every node would be connected to every (43.3%) outweighs those in the Organizational Ecosystem other node. Larger ecosystems are expected to have (38.6%). The larger proportion of Mentors in the lower densities. The MaRS Discovery District also has a MaRS subset may be recognized by their mentorship higher density that the Organizational Ecosystem. programs. Where relationships and mentorship are recognized as key learning and support opportunities, this should be interpreted as a competitive advantage for those connected in the MaRS network. Investors 9 Not Available originated from two sources: a) 19 nodes were assigned the type Not and Support Organizations are all quite similar from the Available in the data supplied by MaRS, and b) 243 nodes contained Null (no larger Organizational numbers and the small MaRS ego value) values in the data. These Null values were thus not available for analysis and assigned the value Not Available. network Sub-community. (Recall that Inspirers have no prerequisite to be known personally.)

16 17 lori stewart lori stewart kristoffer cuachon kristoffer cuachon rahul raj rahul raj melissa houghton jerrold mcgratmelissah houghton harold reiter harold reiter jerrold mcgrath michael niren michael niren sonam singh marsha kennington marsha kennington sonam singh rich emrich rich emrich pete lewis pete lewis kelly dore kelly dore sean polden sean polden andrew giordano andrew giordano ali sheikh ali sheikh mauricio meza mauricio meza

jessica martin jessica martin

joseph fung joseph fung

ENTREPRENEURIAL cameron hay cameron hay

jim moss jim moss

don hathaway don hathaway gavin hay gavin hay will stenason will stenason cheng yuan qian cheng yuan qian justin riley justin riley andrew mcnabb andrew mcnabb marie forleo marie forleo hugues de milleville hugues de milleville mars innvation accelorator fund mars innvation accelorator fund peter mcgee peter mcgee quentin wahl quentin wahl ECOSYSTEM of emilia farrace emilia farrace

garry innanen garry innanen

matt douglas matt douglas david dykaar david dykaar andrew echenberg andrew echenberg

anthony heinrich anthony heinrich david litwiller david litwiller doug dykaar doug dykaar armand raz armand raz peter younkin peter younkin jansen white jansen white mili davda mili davda michael nurse michael nurse janet bannister janet bannister gary scoggins yasiman soudagar yasiman soudagar gary scoggins tim chung tim chung INDIVIDUALS rich smith various rich smith adrienne kennedy various darryl fabiani darryl fabiani adrienne kennedy gigi lee gigi lee erin binnie erin binnie jm colthart jm colthart timothy jones timothy jones

sickkids hospital sickkids hospital george sinclair george sinclair angus clark angus clark bob moesta bob moesta various idividuals various idividuals

randy hess randy hess morris camlot morris camlot jean barrett jean barrett paul hogendoorn paul hogendoorn tim ferriss tim ferriss john anagnostou john anagnostou michelle lochan michelle lochan marc goldman marc goldman

hank vander laan marc reppin marc reppin michael greenberg hank vander laan sean cornelius sean cornelius peter shaw michaelpeter shaw greenberg The previous depictions of the ecosystem were carol dewynn carol dewynn christine tatilon christine tatilon ryan clemmer ryan clemmer edward rogers edward rogers christian karrer christian karrer bob ilson bob ilson jeffrey veffer jeffrey veffer

tom ford tom ford

marshal sterio marshal sterio

mark clawsey represented by the organizational data submitted by mark clawsey irap irap lucien peron lucien peron elvin sotto doug eaton doug eaton elvin sotto leanne ferguson leanne ferguson doug matatall doug matatall private private margaret ngai margaret ngai melanie fortier melanie fortier jason patridge jason patridge dr. michael pearce dr. michael pearce richard kyereboah richard kyereboah adnan zuberi adnan zuberi calvin chu calvin chu saman sahraeinejad saman sahraeinejad ed lycklama ed lycklama stacie reade stacie reade respondents. In this section, the respondents and their jane ravenshaw jane ravenshaw amos chikwengo amos chikwengo azmat zuberi azmat zuberi kristen coppolino kristen coppolino juan ravagli tanay delima tanay delima juan ravagli beverly moore beverly moore tamara jensen tamara jensen

andrew richmond andrew richmond

adam hynam-smith adam hynam-smith ms. navneet sekhon ms. navneet sekhon alters are represented by their personal names, Figure heather dubbeldam heather dubbeldam chris moss navtej sekhon nimi kular nimi kular chris moss navtej sekhon

geoff pulford geoff pulford esther jiang justin hartzmanesther jiang justin hartzman lindsay sage lindsay sage vito renda vito renda kyla woodcock kyla woodcock aamar khwaja aamar khwaja tahir khwaja tahir khwaja charles phillips charles phillips jodi simpson jodi simpson francois renaud-byrne francois renaud-byrne arc climbing arc climbing anna foat anna foat ajay surana ajay surana philip fourie philip fourie bart cilliers bart cilliers paul hogendorn 10 - Entrepreneurial Ecosystem of Individuals peter diamandis peter diamandis paul hogendorn . For example, in eric morse joe eibl shawn french joe eibl shawn french eric morse neeraj jain neeraj jain christie christelis christie christelis chris mcinnis chris mcinnis xerxes wania xerxes wania jamie fairchild jamie fairchild mohammed helal denis smit mohammed helal ted mckechnie ted mckechnie denis smit bernie pols allan barr allan barr bernie pols adam caplan adam caplan kathryn wortsman kathryn wortsman doug eatwell doug eatwell sarah goulding sarah goulding johnny fansher johnny fansher shelley boyd mark simmons shelley boyd mark simmons stefan isebeck stefan isebeck this chart, MaRS is represented by a number of different andrew roach andrew roach christian burks christian burks jana zaibak jana zaibak tom rand tom rand klaus fiebig klaus fiebig alexandre pestov alexandre pestov zahra sakkejha zahra sakkejha christian griesinger christian griesinger heather payne heather payne marian bukal marian bukal heinz rueterjans heinz rueterjans curtis vanwalleghem curtis vanwalleghem erin fitzpatrick erin fitzpatrick cameron lewis cameron lewis individuals including: Aron Solomon, Jane Kearns, too many to list. too many to list. norman john norman john ali morbi ali morbi kent ho kent ho

gimmy chu gimmy chu mike hennessy mike hennessy sam vassa sam vassa khalil maloof khalil maloof chad joshi chad joshi tom rodinger andrew riccheti tom rodinger tim peters tim peters pankaj sood andrew riccheti pankaj sood jun shu jun shu christian yan christian yan lindsey roehrig lindsey roehrig Krista Jones, Martin Summer-Smith, Salim Teja, Joel murray mccaig murray mccaig mirella tehrani mirella tehrani david lloyd david lloyd michael hyatt michael hyatt cyrus tehrani cyrus tehrani robert proia jocelyn doucet jocelyn doucet robert proia steve parry steve parry john wilson john wilson randy hendriks randy hendriks david carter david carter shawn maddaford shawn maddaford caroline audrey macdonald caroline audrey macdonald nathan hordy nathan hordy ian archbold ian archbold Liederman, and Rafi Hofstein. These various employees geordie stewart geordie stewart lauren mcnamara lauren mcnamara lisa teggart lisa teggart dan kolundzic dan kolundzic veronica diaz veronica diaz malay panchal malay panchal mallory mckewen mallory mckewen jonathan garbe jonathan garbe tobi lutke tobi lutke jamie draves steve gugler steve gugler guy kawasaki ronald sayegh guy kawasaki jamie draves ajay singh ajay singh ronald sayegh casper wong casper wong wafa el-osta wafa el-osta scott rafer scott rafer steve barrett steve barrett michael perry michael perry aaron wadler aaron wadler dureen shehnaz dureen shehnaz mike senechal mike senechal madusha cooray madusha cooray bruce poon bruce poon of MaRS are in the components of their clients who vincent panepinto vincent panepinto james waters james waters david rebizant david rebizant david e. white david e. white john van pol john van pol dave willekes dave willekes allan kirkness minra dib jeremy suke allan kirkness jeremy suke minra dib daniel bordenave brent gelhar nicholas wiktorczyk devin smith daniel bordenave brent gelhar nicholas wiktorczyk chris maeda devin smith mike rossi chris maeda mike rossi yvonne van den berg yvonne van den berg julian katz julian katz harold devries harold devries behzad malek behzad malek devon wright randolph william nickle randolph william nickle allan revich allan revich devon wright doug gellatly doug gellatly ted sargent john paul morgan ehsan daneshgar ehsan daneshgar heinrich woertche heinrich woertche ted sargent john paul morgan jim kendal jim kendal jonathan holland jonathan holland lori nickle lori nickle adam smith steven cox steven cox henry lach henry lach adam smith david asgeirsson david brown david brown guowei qu david asgeirssonchristian weedbrook barry atkins barry atkins were the Respondents that mentioned their names. In colm brannigan colm brannigan rachelle smerhy rachelle smerhy guowei qu christian weedbrook rafi hofstein rafi hofstein milad razban milad razban dr. robert langer dr. robert langer asim siddiqui asim siddiqui mike papineau mike papineau spencer turbitt mark feltham mark feltham spencer turbitt jigar shah jigar shah derek davy derek davy taylor nickle taylor nickle ariel garten ariel garten david hallin david hallin hamid alemohammad joel liedermanhamid alemohammad joel liederman

adam steinhoff adam steinhoff rob bruce rob bruce adam szweras elon musk elon musk brenda van ginkel brenda van ginkel adam szweras wanda wang wanda wang peter topalovic peter topalovic richard liang sherif botros richard liang sherif botrojeremys goldman ramy t rob whent the organizational chart, these persons were subsumed adam tesligte adam tesligte jeremy goldman ramy t rob whent trevor coleman trevor coleman joe accardi joe accardi fabian raso xinbo zhang xinbo zhang benjamin banneker fabianbenjamin raso banneker lisa pellegrino lisa pellegrino james inglis james inglis marie chevrier marie chevrier don kaluzny jeffery potvindon kaluzny jeffery potvin terry woodside terry woodside chad fullerton chad fullerton bernard lim tanya paoli bernard lim paul veter paul veter tanya paoli rob crawford rob crawford david bloom andy moon meena guptandya moon meenadavid gupta bloom frank stronach frank stronach mark zimmerman dyson mark zimmerman jonathan loudon jonathan loudon dyson stephanie mclarty stephanie mclarty anjan ghosh anjan ghosh jack herron jack herron curtispaul lush mertes paul mertes curtis lush chris ferguson tammy hwang chris ferguson tammy hwang halden sproule billy stone brigitte mclean brigitte mclean halden sproule billy stone daniel bida ting he daniel bida ting he igor sherman igor sherman under one larger organization, MaRS. Hence, there are ahsan ul alam john shelegey john schmider john schmider ahsan ul alam richard branson ryan moranjames sbrolla james sbrolla petra kassun mutch john shelegey ryan seo ryan seo richard branson ryan moran alysonpetra macka kassuny mutch denise sherritt ted scalwell ted scalwell catherine cady catherine cady alyson mackay denise sherritt steven li steven li maria ramjattan paul tichauer paul tichauer none maria ramjattan rob nour anne day none anne day rob nour rich kelley rich kelley joe palmer joe palmer steven r sutherland steven r sutherland sophie ash sophie ash adam egers adam egers sean ho lung sean ho lung oliver wang oliver wang jeff stevens paul kalra jeff stevens paul kalra montana lomnicki montana lomnicki sheri copplestone sheri copplestone juliette cooper inayat panjwani jeff fuller jeff fuller blair powers blair powers dorothy merrikin juliette cooper dorothy merrikin sergey konyshev sergey konyshev inayat panjwani alvis matiljia ashley schusteralvis matiljia ashley schuster oprah winfrey tom palangio tom palangio oprah winfrey lisa kelso lisa kelso allan s. tweddle allan s. tweddle john ryan bill fuller amir azhari mario nigro john ryan mario nigro bill fuller ron richter ron richter more nodes in the Individual Ecosystem charts than in amir azhari sir kiranrichard panjwani branson sir richard branson dick destephano kiran panjwani dick destephano mike pollington mike pollington rita craig rita craig howard brown howard brown fauzia hemani claudio carosipushkar kumar claudio carosi iftekhar hussain fauzia hemani ruby langdon ruby langdon pushkar kumar iftekhar hussain dan chamberland david d'angelo george sim david d'angelo george sim greg weatherdone greg weatherdone harris yang dan chamberland harris yang quinten griffiths geofquintenf simonett griffiths geoff simonett peggy elliot peggy elliot john bais anthony hardennedave mcnab anthony hardenne john bais dave mcnab aaron austin sir henry royce aaron austin sir henry royce adrian bartha adrian bartha shiva bhardwaj shiva bhardwaj roberto fanara roberto fanara mike arblaster pedro serrador mike arblaster pedro serrador hassan khan joseph fierro joseph fierro jess goodman hassanjess khan goodman k. scott butcher k. scott butcher jason bayley jason bayley gerald risk gerald risk melissa bendo melissa bendo dom ferst liran belenzon dom ferst liran belenzon enzo ferrari enzodina ferrari nikitina dina nikitina bill mohri bill mohri scott aldermanstephane ostrander scott alderman shawn zhou stephane ostrander brandon houston shawn zhou rudy deml rudy deml brandon houston nouman ahmad the organizational charts. ken burman ken burman elizabeth cardenas nouman ahmadelizabeth cardenas dan ruby vesna leonard vesna leonard dan ruby bill kerson bill kerson david david maggie bergeron maggie bergeron ontario media development corporation ontario media development corporation paul ege paul ege richard dewling richard dewling monica schuett y combinator y combinator chris brady elie afif elie afif monica schuett chris bradandrewy bloomike agar mike agar steve marshall steve marshall andrew bloo dan joncas ian burgess ian burgess alex weiner alex weiner wanda dorosz wanda dorosz dan joncas darren platakis doug clark darren platakis doug clark catherine graham catherine graham mark ng mark ng bill thomson bill thomson michael schwanzer michael schwanzer phil thompson laryn fernandes phil thompson laryn fernandes mark mikulec mark mikulec jerod klink jerod klink peter waugh peter waugh ivan zakhaenkov ivan zakhaenkov hundreds of them hundreds of them brent mackinnon adraino olivetti adraino olivetti brent mackinnon matt sammut matt sammut canada media fund canada media fund alkas baybas dan giddings alkas baybas dan giddings vicki saunders vicki saunders adam la france adam la france blake stone blake stone bruno ceccaroli bruno ceccaroli don duval alf bj??rseth alf bj??rseth bryan socransky bryan socransky don duval dennis croft lisa harun dennis croft lisa harun arden corford arden corford robert brunet robert brunet peter dietz natasha baker natasha baker peter dietz keith wettlaufer keith wettlaufer darcy bachert darcy bachert philip passy philip passy chantal charbonneau chantal charbonneau martin lord martin lord david lowenstein david lowenstein mary chong mary chong thomas edison thomas edison sheri bambrough dean kamen sheri bambrough dean kamen jack macdonnell richard goulet richard goulet jason gray jason gray denyse wahlgren denyse wahlgren jack macdonnell jane kearns jane kearns brian deck salim teja aron solomon salim teja brian deck aron solomon na na aaron reimann aaron reimann jenna marino jenna marino alan tuback justin leushner justin leushner alan tuback marcus ginder ema thurairajah ema thurairajah patty miller marcus ginder les silver les silver ernest earon alan coley chris sacca patty miller suzanne west ernest earon alan coley chris sacca greg scallen greg scallen ken nickerson ken nickerson suzanne west michael albanese michael armata mandar jog michael albanese michael armata jack lee mandar jog jack lee brendon aldridge brendon aldridge mike shoss mike shoss sangeeta chopra charron david crowedavid banbury david crowe sangeeta chopra charron david banbury andrew tischler andrew tischler colton kadlecik barbara hopper barbara hopper colton kadlecik gary vaynerchuck gary vaynerchuck jessie woolley-wilson jessie woolley-wilson kelly shaw derry crymble derry crymble deniz temelli deniz temelli stephen pankratz stephen pankratz kelly shaw ferruccio lamborghini ferruccio lamborghini kevin mercer kevin mercer richard harpster jennifer cioffi dr.kay macphee jennifer cioffi richard harpster christian rouleau albert carbone christian rouleau albert carbone dr.kay macphee sandra nage sandra nage joelle macphee joelle macphee john davies sarah prevette jim barber sarah prevette john davies bernie aho jim barber gray taylor bernie aho sheri tomchick sheri tomchick jose ferreira jose ferreira gray taylorjonathan grant kacey cayen kacey cayen luc aube luc aube jonathan grant paul jay craig gauld kevin ferah kevin ferah john hall jeff turner paul jay craig gauld john hall jeff turner marcus quigley marcus quigley marc des rosiers hanje chen hanje chen komal minhas komal minhas alexandre lataille alexandre lataille marc des rosiers ric young diana pliura diana pliura krista jones sean peel ric young emmanuel anassis peter dalkrista bianco jones james kendall sean peel natalija fisher emmanuel anassis tom burgmann peter dal bianco tom burgmann james kendall natalija fisher tim casgrain tim casgrain stephen beney stephen beney geraldine cahill geraldine cahill nav saini nav saini michael petgrave vincenzo lancia vincenzo lancia pete bastedo charlie conron pete bastedo klaus feibeg alan mcmillan alan mcmillan michael petgrave charlie conron klaus feibeg catherine love catherine love ransom hawley ransom hawley cameron clokie Figure 10 - Ecosystem of alvaro brice? o alex todd alex todd cameron clokie dorothy engelman alvaro brice? o evan clark evan clark dorothy engelman devin ramphal devin ramphal john jaisareesinghjim colthart john jaisareesingh jeff lande jeffjim lande colthart jeremy heimans usama zaid usama zaid jeremy heimans melani misha plotkine rodrigo madriz rodrigo madriz anthony nazarov anthony nazarov melani misha plotkine john semple john semple naheed kurji rachel curtis peter hartzbech rod baker rod baker naheed kurji rachel curtis peter hartzbech chancellor crawford andrew white andrew white chancellor crawford sarah sharpe sarah sharpe dave asprey dave asprey miklos tomka allen porstner miklos tomka cesar louis cesar louis allen porstner riyad mobeen riyad mobeen raymond shih raymond shih Individuals jori van gorder jori van gorder nilay lad nilay lad anasrandy tawile ostojich carl andersonrandy ostojic carl andersonerika caceres erika caceres amin kasraian amin kasraian dan seto dan seto anas tawileh joe wilson joe wilson shamim shahramnia shamim shahramnia rami madi rami madi jason tham jason tham tonny bailletti doug daymond doug daymond tonny bailletti frankie wong frankie wong michaele robertson michaele robertson masoud reza aziminajjar masoud reza aziminajjar michael trzecieski michael trzecieski shahriar azimi nadjar shahriar azimi nadjar susan batc;ay susan batc;ay mb wansbrough mb wansbrough bill hennessey marios matsias marios matsias jeff campbell andrewje ffstanbridge campbell bill hennesseandrewy stanbridge ion furjanic ion furjanic john c. maxwell john c. maxwell MaRS survey results representing kyla poirier kyla poirier john pitts mike fellowes john pitts karen kuzik natalie ledwell karen kuzik natalie ledwell mike fellowes alan alan rodolfo recomanta rodolfo recomanta erik coverdale erik coverdale neil lane neil lane heli doggett howard roark heli doggett howard roark harvey coleman harvey coleman robert coverdale robert coverdale alastair jenkins alastair jenkins meghan chayka meghan chayka mitchell lesbirel julien li-chee-ming crystal lockwood crystal lockwood mitchell lesbirel julien li-chee-ming olavi rinne john assaraf olavi rinne john assaraf barry gekiere barry gekiere tobi williams-glew tobi williams-glew robert doggett tom lockwood tom lockwood robert doggett adrian sluga adrian sluga nikki tudico nikki tudico sonia vaknin sonia vaknin the entire entrepreneurial audra lesloe audra lesloe lynn cox lynn cox wendy robertson wendy robertson dave lewis deborah senior pierrette masimango pierrettedave masimango lewis deborah senior allan lau allan lau bernie cox bernie cox adib saikali adib saikali charlene nadalilouisn sapi louis sapi ernest yap ernest yap charlene nadalin patrice esper patrice esper kamal hassan george wallace george wallace tim haig tim haig kamal hassan richard lo richard lo james bursey james bursey preet khalsa preet khalsa ecosystem. Only individuals are karlis vasarais karlis vasarais richard hyatt richard hyatt ana misra ana misra bern grush bern grush hugh molyneux christine egger hugh molyneux ben zifkin ben zifkichristinen egger lisa matheson lisa matheson jason kotler jason kotler richard wong richard wong catherine mcquaid catherine mcquaid

jen couldrey jen couldrey nisha sarveswaran anil patel blair colbey anil patel kevin ferrah nisha sarveswarankevin ferrah joe milstone blair colbey joe milstone attila hazjer attila hazjer represented in this graph. rubsun ho rubsun ho frank coy frank coy kevin rusnell kevin rusnell richard muller ray sharma richard muller rob whittaker rob whittaker pierre bossou pierre raybossou sharma bill gates bill gates heather crosbie heather crosbie cam carver cam carver larry chartier segun akinsaya segun akinsaya larry chartier john d. rockfeller nkky egwuenu nkky egwuenu john d. rockfeller nevin buconjic kevin o'leary nevin buconjic mae jameson mae jameson kevin o'leary cathleen macdonald cathleen macdonald zale tabakman zale tabakman steve jobs nick kuryluk nick kuryluk james whittaker james whittaker steve jobs lequanne collins-bacchus lequanne collins-bacchus sam kurytnik hildebrand sam kurytnik hildebrand jean-francois alary jean-francois alary rizwan ahmad rizwan ahmad ryan marchewka ryan marchewka henry ford henry ford eugene bacchus eugene bacchus bruce george bruce george lindis collins-bacchus lindis collins-bacchus frank leroux frank leroux c howie honeyman c howie honeyman paul barter paul barter

pete pigott pete pigott Nodes: 865 kaija saarinen kaija saarinen seleen lugossy seleen lugossy

richard obuhowich richard obuhowich

bernie smith bernie smith ed leavens mohamad vedut mohamad vedut ed leavens michael vesia michael vesia

brad van horne brad van horne john macdonald mikejohn macdonalvanderleed mike vanderlee alex sopinka alex sopinka Edges: 619 edward marchant edward marchant daniel ruscigno leigh peterson leigh peterson daniel ruscigno stacey shrout stacey shrout sam visaisouk sam visaisouk phil dolmage phil dolmage chris buttenham chris buttenham ron budreau ron budreau brian clare brian clare erin r. windrim erin r. windrim jason stoll jason stoll kevin smith audrey kuo audrey kuo kevin smith mischa kowall mischa kowall sean duffy sean duffy chris gibson chris gibson waterloo north hydro holdings Average Degree: 0.717 sanjay cherian waterloo north hydro holdings sanjay cherian family #2 family #2 martin sumner-smith martin sumner-smith sherry-lynn lee sherry-lynn lee carol and doug lesbirel carol and doug lesbirel ryan doherty ryan doherty multiple indiviuals multiple indiviuals keith thomas keith thomas

cynthia goh cynthia goh investor #1 investor #1 claudia hepburn claudia hepburn family friend #3 brett holtby brett holtby mark kohler family friend #3 mark kohler family friend #1 family friend #1 magloire boganda Average Path Length: 1.13 magloire boganda trevor orton trevor orton chris janzen chris janzen scott monteith scott monteith mehdi darvishi mehdi darvishi private investor private investor wayne mcphee van meter inc. family friend #2 wayne mcphee vikram singh van meter inc. family friend #2 vikram singh tony walsh tony walsh serguei kourkhtine serguei kourkhtine david evan david evan greg williams greg williams anita javed anita javed family #1 family #1

jordan renda jordan renda several mentors several mentors blake landry blake landry steve mc crudden steve mc crudden mansoor osmani mansoor osmani stephen chen stephen chen

mario morfin mario morfin

dan beach dan beach terri chu terri chu robby burko robby burko neetu godara neetu godara kevin folk kevin folk alina cywinska alina cywinska

arlene dickinson arlene dickinson

shahzeb rizvi shahzeb rizvi chad sweeting chad sweeting igor igor scott mckenzie scott mckenzie derek jouppi derek jouppi ryan denomme omair bangash omair bangash ryan denomme dani johnson dani johnson don de los santos don prestonde los santos smiles preston smiles cameron mills cameron mills bert beilke bert beilke mauro mauro andrew martinko andrew martinko josie la corte josie la corte

kathy beilke pauleanna rerid pauleanna rerid kathy beilke ethan alter ethan alter chris hajduk chris hajduk alexi panos alexi panos smit rao smit rao

sumit brahmbhatt sumit brahmbhatt

matas sriubiskis david ciccarelli david ciccarelli matas sriubiskis kosta panagoulias kosta panagoulias

roger bowes roger bowes katharine sepp katharine sepp stephanie ciccarelli stephanie ciccarelli shelby yee shelby yee charles beauchamp charles beauchamp

michel romanow michel romanow jonathan carter jonathan carter

fabien marino fabien marino braden kemp braden kemp guillermo senisterra guillermo senisterra palma robinson palma robinson bob hamilton bob hamilton ishaan singla ishaan singla ron yeung ron yeung chad davis chad davis sasha davids sasha davids brandon aubie brandon aubie nicholas burgwin nicholas burgwin ken yamazaki ken yamazaki ryan stockwell ryan stockwell jim inglis jim inglis

melanie ransom melanie ransom

unincorporated unincorporated sue britton sue britton chris fanaberia chris fanaberia

latif nanji latif nanji arden cornford arden cornford steve black elan eisen elan eisen sameer hasan sameer hasan steve black

many investors many investors

obrad aleksic obrad aleksic anton polski anton polski

dean irvine dean irvine nebojsa gogic nebojsa gogic

anton neschadim anton neschadim mark leggott mark leggott 18 the centre for the commercialization of antibodies and biologics the centre for the commercialization of antibodies and biologics 19 Figure 10 has a total of 865 nodes comprised of 298 the largest containing pathways between 30 nodes. respondents and 567 alters. The overall composition is These highly disconnected communities depict very largely dominated by mentors (29%), the respondents little overlap between Founders and their Support RESULTS of ECOSYSTEM from entrepreneurial firms (28%), and individuals Organizations, Mentors, Inspirers, and Investors. describing themselves as co-founders (21%). With the Organizational Ecosystem presented earlier, some More bridging activity between Founders’ social of SUPPORT survey respondents described their alters by their networks would be desired. Founders can gain vital organizational names and not their individual names. information when they cultivate acquaintances from ORGANIZATIONS Therefore, there are 79 nodes with a degree of 0 shown different circles of knowledge and influence. in this depiction. These nodes are not connected to any others; they are included in the graph, but are omitted Unlike the earlier description of the Organizational Advice-seeking is the pursuit of information that can impact as the quality to measure implies a strong effect from the statistical analysis. Ecosystem, the Individual Ecosystem has a greater improve innovation and the execution of business which in its business use, is generally accepted to be a distribution of components with larger circles of activities thereby improving the long-term viability and favourable measure. Figure 11 - Node Size and Communities (Components) observes influence. Thirty-six of the components are comprised of profitability of a start-up. The act of reaching out and many components (clusters of nodes distinct from one six or more nodes. Figure 11 shows the distribution of deliberately seeking information is an initiative that The Respondents were asked to rate the Support another). The respondents are generally in the interior the size of the components. requires engagement. It is a behavior. Organizations by the impact of their advice in five of these components – surrounded by their alters with different areas whom they communicate. There are 168 components For many founders, their network is all they have to 1. Fundraising & Capital with draw upon when they begin their firms. The reliance on 2. Markets, Revenue & Strategic Customers Figure 11 - Node Size and Communities (Components) their expanding network contributes to the cohesion 3. Governance & Operations recognized as vital to entrepreneurial success; 4. Finding & Retaining Talent, and entrepreneurs reaching out around the world for 5. Product Development. information that enhances their innovation and thus the creation of sustainable start-ups. The best way to represent the information is to produce a different chart for each of the types of information This knowledge-search is the basis of network sought from their various noted Support Organizations analyses in other locations such as Nova Scotia, New or agencies. The corresponding charts about each of the Brunswick, Prince Edward Island, Newfoundland and types of information sought appear in Figures 12 to 16. now Switzerland using the Atlantic Entrepreneurial Ecosystem Project’s methodology. These works have In each of these charts, the nodes represent shown universities, governments, venture capital, organizations that were volunteered by Respondents, entrepreneurial and mature firms, professionals and and in some cases, individual names where no support organizations as the key constituents of organization was known or provided. In these charts, the entrepreneurial ecosystems. size of the node indicates the (combined) impact of the information that was sought by the Respondent. Bigger In the MaRS survey, the support organizations of the equals more impact. The size of the node is the sum of ecosystem were defined as accelerators, incubators, all of the impacts that were indicated by the combined alumni networks, innovation centres, or government respondents. agencies that may provide business or product advice. The analysis includes the type of information that was Each edge indicates three features. First, the edges sought and the impact that the support organization’s indicate the direction of the sought information by the advice had on the business decisions. Use of the term arrow’s indication. The colour of the edge indicates 20 21 the type of Support Organization providing the advice. distribution of venture capital in a population. Only And third, the width of each of the edges reflects the a very small number will be in the market for venture frequency with which a member of the ecosystem sought capital. Clearly, however, after successful encounters information. The greater frequency with which a member with MaRS, Combinator and Communitech, for example,

of the ecosystem sought information is depicted in a information about venture capital might be sought by INDIVIDUAL segun akinsaya wider edge. The legend used to identify the edge width more respondents. Communitech INDIVIDUAL don hathaway is: INDIVIDUAL james sbrolla Thin 1 = 1 time per annum 2 = 2 - 5 times per annum OCAD University- Imagination Catalyst customachinery inc. Support Ecosystem Figure 12 - Fund Raising NSERC Wide 3 = 6 - 10 times per annum RIC Centre 4 = 11 - 20 times per annum and Capital INDIVIDUAL martin lord Startup Canada Widest 5 = > 20 times per annum playxc The size of the Edges indicates frequency (1-5)

This frequency scale was calculated as follows: INDIVIDUAL richard goulet pith& substance

Thin 1 = 1 time / year Greencentre Canada SUPPORT 2 = 2 - 5 times / year the remix project paere currant society ORGANIZATIONS 3 = 6 - 10 times / year Accelerator Centre 4 = 11- 20 times / year Y Combinator metaflo technologies inc. IMPACT on Widest 5= >20 times / year INDIVIDUAL howard brown

aoms technologies united crm The size of the node indicates impact (sum of OCE FUNDRAISING & environmental business consultants all in-degree weighted by Impact 1-5 scale).

forward water technologies CAPITAL The colour of the edges is related to the type of revelo bikes (lifebike) greencentre canada aposys technologies inc.

relationship between the two nodes. eyedro green solutions Support = Blue Respondents indicate that information about Financial rockmass technologies Mentor = Orange virgin group Ryerson ICUE Support and Capital concerns is being sought from Investor = Green Support Organizations (52.82%), Mentors (38.64%) ovrsyte (formerly site stream remote monitoring) Arctern ventures

lika inc and formal and informal venture capital Investors MaRS Discovery District

(4.55%). This is encouraging -- entrepreneurs engaged fika inc. vapium in searching for information from other organizations in the ecosystem are taking advantage of supplied INDIVIDUAL tim haig resources and mentorship to learn what they need to Mentor (38.64%) hydrostor livetoaspire know for financing support raising capital. Learning

INDIVIDUAL ted scalwell from organizations mandated to support them signifies Support Organization (56.82%) INDIVIDUAL multiple indiviuals MaRS IAF engagement that can help identify potential hurdles giffels associates ltd. and methods to overcome them as shown in Support Investor (4.55%) electrefy inc INDIVIDUAL private investor

Ecosystem Figure 12 – Fundraising and Capital. INDIVIDUAL roger bowes

MaRS, OCE and RIC are the support agencies supplying the most combined impact relative to financing issues, and the combined impact of mentors’ relative to financing issues reported by respondents is sizeable as well. The small impact of the VC reflects the relative 22 23 SUPPORT ORGANIZATIONS IMPACT on MARKETS, INDIVIDUAL private investor INDIVIDUAL pierre bossou

the remix project REVENUES & fintros STRATEGIC INDIVIDUAL martin lord ovrsyte (formerly site stream remote monitoring) CUSTOMERS Support Ecosystem Figure 13 - Markets, INDIVIDUAL casper wong Communitech

Revenues & Strategic Customers environmental business consultants ironspan inc.

INDIVIDUAL ian archbold

The size (width) of the Edges indicates INDIVIDUAL james sbrolla

Respondents were asked about information sought frequency (1-5) playxc eyedro green solutions INDIVIDUAL segun akinsaya regarding concerns about markets, revenues and This frequency scale was calculated as follows: OCE search fund partners identifying and building relationships with strategic Thin 1 = 1 time / year INDIVIDUAL multiple indiviuals customers. Information is being sought from Support 2 = 2 - 5 times / year Humber College- Humber Launch

3 = 6 - 10 times / year RIC Centre Organizations (60.42%), Mentors (35.42%) and formal livetoaspire virgin group 4 = 11- 20 times / year paymentevolution and informal venture capital Investors (4.17%) as shown MaRS Discovery District revelo bikes (lifebike) in Support Ecosystem Figure 13 – Markets, Revenues and Widest 5= >20 times / year Accelerator Centre The size of the node indicates impact (sum of Strategic Customers. electrefy inc all in-degree weighted by Impact 1-5 scale). INDIVIDUAL sumit brahmbhatt metaflo technologies inc.

INDIVIDUAL ted scalwell Support Organizations dominating the search of markets The colour of the edges is related to the type of forward water technologies currant society relationship between the two nodes. and revenues are by MaRS, RIC, Communitech, OCE, nowanswers corp.

aoms technologies and universities Queen’s and Humber College. Mentors Support = Blue DCSIL Mentor = Orange are important in this category as most of them fielded aposys technologies inc. paere Investor = Green hydrostor numerous, 20 or more, discussions or requests for Greencentre Canada MaRS IAF information from their mentees. Chinook Capital Group,

LLC, Virgin Group and Search Fund Partners appear to rockmass technologies INDIVIDUAL jane ravenshaw be notable organizations for impact for the category fika inc. vapium lika inc Markets, Revenues and Strategic Customers. Support Organization (60.42%) chinook capital group, llc Queen's Innovation Connector

simply elaborate creative

B-school Mentor (35.42%) Startup Canada

INDIVIDUAL roger bowes Investor (4.17%) INDIVIDUAL howard brown

INDIVIDUAL jason patridge

united crm

24 25 SUPPORT ORGANIZATIONS IMPACT on GOVERNANCE & OPERATIONS

Support Ecosystem Figure 14 - Governance & Operations Asking Respondents about governance and operations The size of the Edges indicates frequency (1-5) support includes the impact of accounting legal, and This frequency scale was calculated as follows: board structure information. These results were most Thin 1 = 1 time / year favourably demonstrated by RIC (size of the node). 2 = 2 - 5 times / year Communitech, MaRS IAF, OCE, and MaRS Discovery 3 = 6 - 10 times / year District all had favourable impact scores as well as 4 = 11- 20 times / year shown in Support Ecosystem Figure 14 – Governance and Widest 5= >20 times / year Operations. The size of the node indicates impact (sum of all in-degree weighted by Impact 1-5 scale). In terms of the frequency of interactions, mentor and The colour of the edges is related to the type of individual, Tim Haig, fielded the most overtures for relationship between the two nodes. information and so did individuals and mentors Don Support = Blue Hathaway, Pierre Bossou, Segun Aknsaya and Sumit Mentor = Orange Bahmbhatt for the respondents in this section of the Investor = Green survey.

Mentor (60.42%)

Support Organization (35.42%)

Investor (4.17%)

26 27 SUPPORT ORGANIZATIONS IMPACT on FINDING & RETAINING TALENT the remix project OCE Y Combinator

MaRS Discovery District

Support Ecosystem Figure 15 - Finding & Finding and Retaining Talent such as building teams, nowanswers corp. Retaining Talent eyedro green solutions defined as finding the best fit for the organization, was playxc INDIVIDUAL james sbrolla another sub-sub set of supports provided by Support The size of the Edges indicates frequency (1-5) Communitech Organizations and sought in the survey. Here RIC Centre This frequency scale was calculated as follows: provides the most impactful information. Communitech, Thin 1 = 1 time / year INDIVIDUAL sumit brahmbhatt MaRS Discovery District, and OCE provide significant 2 = 2 - 5 times / year electrefy inc

impact as well illustrated in Support Organization Figure Accelerator Centre pith& substance 3 = 6 - 10 times / year INDIVIDUAL don hathaway 15 – Finding & Retaining Talent. 4 = 11- 20 times / year INDIVIDUAL howard brown Widest 5= >20 times / year Named support organizations and mentors take equal aoms technologies The size of the node indicates impact (sum of shares of the frequency of activity (@ 50%). metaflo technologies inc. all in-degree weighted by Impact 1-5 scale). INDIVIDUAL multiple indiviuals

INDIVIDUAL private investor INDIVIDUAL pauleanna rerid The colour of the edges is related to the type of INDIVIDUAL ted scalwell relationship between the two nodes. environmental business consultants

Support = Blue, aposys technologies inc.

Mentor = Orange vapium Investor = Green just compare financial comparison ltd livetoaspire united crm

ironspan inc.

revelo bikes (lifebike) INDIVIDUAL rachel curtis Mentor (50%) paymentevolution

Support Organization (50%) RIC Centre

paere

currant society INDIVIDUAL segun akinsaya

28 29 SUPPORT ORGANIZATIONS

IMPACT on PRODUCT INDIVIDUAL private investor ovrsyte (formerly site stream remote monitoring)

DEVELOPMENT playxc rockmass technologies ADVICE

INDIVIDUAL james sbrolla

Support Ecosystem Figure 16 - Product Accelerator Centre Greencentre Canada Development INDIVIDUAL roger bowes

INDIVIDUAL don hathaway The last chart in the Support Organization grouping is product development where product and intellectual The size of the Edges indicates frequency (1-5) INDIVIDUAL segun akinsaya INDIVIDUAL multiple indiviuals property issues are addressed. Support agencies MaRS, This frequency scale was calculated as follows: eyedro green solutions OCE, Communitech, MaRS IAC, Accelerator Centre, Thin 1 = 1 time / year INDIVIDUAL rachel curtis Queen's Innovation Connector Queens Innovation Connector, OCAD University- 2 = 2 - 5 times / year currant society Imagination Catalyst, NSERC and GreenCentre Canada 3 = 6 - 10 times / year 4 = 11- 20 times / year ironspan inc. deliver the most impactful information. There are Communitech livetoaspire numerous individual mentor nodes in this category as Widest 5= >20 times / year

well including Roge Bowes, Segun Akinsaya, Marin Loyd, simply elaborate creative OCAD University- Imagination Catalyst

MaRS IAF Jane Ravenshaw, Don Hathaway. These lists are not The size of the node indicates impact (sum of metaflo technologies inc. exhaustive illustrated in Support Organization Figure 16 – all in-degree weighted by Impact 1-5 scale). B-school The colour of the edges is related to the type of Product Development. hydrostor INDIVIDUAL jane ravenshaw relationship between the two nodes. In terms of frequency of interaction between the Support = Blue the remix project paere aposys technologies inc. customachinery inc. respondents and their information providers, the Support Mentor = Orange Organizations fielded 64.5 percent of the requests for Investor = Green INDIVIDUAL martin lord

information about product development, and Mentors lika inc advised 32.3 percent. revelo bikes (lifebike)

fika inc. forward water technologies

Mentor (64.52%) just compare financial comparison ltd

greencentre canada

Support Organization (32.26%) RIC Centre

NSERC

Investor (3.23%) MaRS Discovery District

OCE

30 31 report looking seriously at only a handful of deals out of Figure 17 - Respondents & hundred that pass their desks, and thus actually closing a their Investors RESULTS OF deal with even fewer investments. Nodes: 56 Edges: 33 Average Degree: 0.589 RESPONDENTS and Average Path Length: 1 10 A thought-provoking element of the data collected by MaRS was for nodes to be categorized in multiple different ways. MaRS itself was cited as an Investor, THEIR INVESTORS Inspirer, but primarily as a Mentor.

trails, two nodes with the most investor connections andrew mcnabb rafi hofstein Respondents were asked about investments by a variety in the data were connected to five and three investors irap of types of Investors. Figure 17 - Respondents’ and their respectively. Some nodes, such as Steve Black, mars innvation accelorator fund Investors outlines the responses of participants to the presented information labelled many investors that does

sickkids hospital inquiry about investors in their firms. There are 54 nodes not describe any detail of the individuals, the firms or doug matatall kathryn wortsman timothy jones connected by 32 edges in this graph. Entrepreneurial syndication. david asgeirsson firms, presented as a light tan-coloured node, represent kevin mercer 35.2 percent of the participants in this chart, a total of The largest community in Figure 17 - Respondents’ and their tom rand curtis vanwalleghem tahir khwaja ajay surana 20 nodes. The Investors which in this graph represent all Investors, is that of Quinton Griffiths and his investors. aamar khwaja alters cited, comprise 55 percent of the total nodes, or Griffths represents the Venture Capital firm Chinook

chris brady

31 individuals. Capital Group Llc. This likely indicates the network of arc climbing

na investors known to this fund, or those syndicating with khalil maloof vincent panepinto gerald risk rich kelley

This community of nodes represents nodes and Chinook Capital. Venture Capitalists like to syndicate wanda dorosz alters who were connected to the respondents via their deals and need an abundant circle of trusting VC

jamie fairchild an investment relationship; the Investors’ names funds to do so. Syndicating has been described as a rubsun ho steve parry

10 murray mccaig and nodes are the blue nodes . Two respondents, sobriety test to see if other VCs like the deal as much as michelle lochan scott alderman

identified themselves as VCs (teal), and cited investment the lead VC. By syndicating, VCs also signal their interest gimmy chu jeff stevens ramy t relationships, as did one University (yellow), and one in being a syndication target for deals led by other VC Support Organization (brown). funds – a kind of reciprocity -- to be invited to participate henry lach dom ferst quinten griffiths

in deals identified by other VCs. jean barrett ray sharma waterloo north hydro holdings kent ho This figure represents only one type of relationship sherif botros so there is no distinction between types of edges. As The one investor who was cited more than once in the ontario media development corporation

always, the arrow to the edge represents the direction data was Tom Rand. Rand was cited twice in the network, carol and doug lesbirel of the relationship – from Respondent to alter. It is by Kathryn Wortsman and Curtis Vanwalleghem who van meter inc. kevin folk arlene dickinson mark mikulec important to avoid confusing this with the direction of both share the organization of Hydrostor. trevor orton the investment. canada media fund

A rate of approximately one percent of entrepreneurs rizwan ahmad

nevin buconjic Not surprisingly, the majority of the 22 components in the ecosystem who cited an investment in their firm barry gekiere many investors in this network are simple pairs of nodes, one survey seems reasonably representative of the rates at which steve black

Respondent and one Investor. The largest community VCs make deals. Just short of one percent of the alan (perhaps a syndication or a series of subsequent technology entrepreneurs targeted in the surveys have anton neschadim the centre for the commercialization of antibodies and biologics investments) contains six nodes. Following some of the had an investment by at least one venture fund. VCs 32 33 closing a deal with even fewer investments. In some instances, individuals who are reporting mentors in the data are also being recognized as Mentors to other RESULTS OF The mentors are overwhelmingly male. By visual by other Respondents. Examples of this phenomena inspection there are about 13 women noted as show entrepreneurial firms reaching out to other Mentors; many of them are acknowledged by women entrepreneurial firms as mentors which are valuable RESPONDENTS and Respondents. It would seem important, if most women occurrences. It is not known, however, what proportion entrepreneurs were motivated by a woman mentor, that are peer-to-peer or peer-to-mentor. THEIR MENTORS a concerted search of excelling female entrepreneurs be undertaken to develop women mentors. Figure 18 - Respondents & their

Successful entrepreneurial mentors who are identified these influences may mean careers in entrepreneurial Mentors as potential tutors for entrepreneurs possess unique firms, such as working in an early-stage entrepreneurial credibility and social influence; they are particularly firm, not necessarily as a founder or co-founder. Nodes: 421 Edges: 302 high-status entrepreneurs. Their ability to introduce Average Degree: 0.717 their mentee to financiers, senior resource holders, The charts depictin fg Respondents and their Mentors, Average Path Length: 1.162 potential employees, and/or co-founders enhances the Figure 18 - Respondents’ and Their Investors, follows. In

christian burks mentees social prestige by association. A mentor who this chart, the grey nodes are the mentors which are klaus fiebig shelley boyd

madusha cooray is a previously successful entrepreneur will have more indicated by the pointed end of the arrow. The names of dave asprey john van pol ransom hawley

rich emrich murray mccaig brandon aubie

mauricio meza paul barter pankaj sood ron yeung weight in recommending their mentees to intermediaries the corresponding entrepreneurs’ nodes at the center of bruce george james whittaker fauzia hemani various sam kurytnik hildebrand

kiran panjwani

jm colthart shiva bhardwaj such as venture capitalists since a recommendation a component (cluster) are sometimes partially obscured alvis matiljia k. scott butcher various idividuals shawn zhou sean corneliusbruce poon john anagnostou george sim jim inglis greg weatherdone nicholas burgwin

coming from a high-performing entrepreneur will carry by the arrows. The mentorship role was applied by the mike pollington cathleen macdonald shawn maddaford chantal charbonneau jocelyn doucet private investor nikki tudico multiple indiviuals masoud reza aziminajjar trevor orton guy kawasaki charlene nadalin

ronald sayegh, hamid el debs, amine nehme, amine nasser, gilbert moukhayber pierrette masimango erin binnie more weight with an investor than the recommendation respondents to 61.1 percent of the alters mentioned. stephen beney several mentors tim chung jansen white

andrew white

naheed kurji coming from someone else. Successful mentors often Professional Services (2.1%), Support Organizations pete pigott c howie honeyman jeffery potvin

ryan marchewka sherif botros steven cox krista jones segun akinsaya david crowe don kaluzny tim casgrain darryl fabiani david asgeirsson pre-screen potential mentees to ensure they are working (2.1%), and Venture Capital (0.48%) and Universities ken nickerson lequanne collins-bacchus mohamad vedut joel liederman christian weedbrook timothy jones kelly shaw joelle macphee edward marchant pierre bossou bob moesta asim siddiqui david e. white sandra nage sam visaisouk salim teja jennifer cioffi wayne mcphee geordie stewart harold devries with premium talent worthy of investing their own time. (0.24%) occupy smaller mentorship roles. randy hendriks peter dietz martin lord frank lerouxkaija saarineseleenn lugossy dick destephano jason gray jim kendal david lowenstein lisa harun jane kearns

tom palangio mary chong jeff fuller veronica diaz joe palmer audra lesloe adam la france ivan zakhaenkov

saman sahraeinejad paul tichauer aron solomon richard goulet deborah senior patrice esper laryn fernandes paul ege beverly moore mohammed helal esther jiang melissa bendo anne day tobi williams-glew richard kyereboah melanie fortier bruno ceccaroli

The mentoring literature makes a distinction between There are only a small number of network effects here. monica schuett justin hartzman aamar khwaja ruby langdon amos chikwengo ted mckechnie dennis croft leanne ferguson sheri copplestone taylor nickle allan kirkness

nimi kular catherine cady heather dubbeldam rita craig randolph william nickle marc goldman mitchell lesbirelharvey colemanjohn pitts jane ravenshaw peer-to-peer relationships and peer-to-mentor James Brolla is a mentor to four different individuals steve black david rebizant alex sopinka lisa kelso peggy elliot barry atkins bob ilson brian clare margaret ngai mark kohler stacey shrout jeff turner peter shaw jonathan grant shelby yee marcus ginder roger bowes claudia hepburn jason patridge sean peel gray taylor serguei kourkhtine cynthia goh xerxes wania denise sherritbrigittet mclean klaus feibeg michael albanese ryan doherty jean-francois alary catherine love colton kadlecik relationships. The age and expertise of the mentor though he is thought to be part of a firm or Support tom and crystal lockwood jordan renda nick kuryluk kacey cayen barbara hopper mischa kowall riyad mobeen lynn cox sheri tomchick darcy bachert cam carver martin sumner-smith sangeeta chopra charron kosta panagoulias mark mikulec diana pliura juliette cooper kevin ferrah deniz temelli mike arblaster peter dal bianco sasha davids bernie aho kevin mercer catherine mcquaid carl anderson geoff pulford ishaan singla pushkar kumar jodi simpson ryan stockwell robert brunet determines whether the relationship is actually peer- Agency. Tim Peters is a mentor to three people and catherine graham justin leushner claudio carosi anna foat erika caceres lindsey roehrig adrian bartha eric morse michael trzecieski jack lee braden kemp geoff simonett maggie bergeron paul hogendorn allen porstner craig gauld richard harpster ted scalwell ahsan ul alam johnny fansher zahra sakkejha stacie reademichaele robertson sergey konyshev john bais bill mohri tamara jensen mike hennessy rodrigo madriz ema thurairajah to-mentor, and not simply peer-to-peer. Mentors are indicates his own mentors as well. Aron Solomon, Salim amir azhari mb wansbrough james sbrolla david lloyd alan mcmillan alan coley quinten griffiths kristen coppolino tim peters howard brown mario nigro kevin smith blake stone jason stoll joe wilsonchris brady charles beauchamp les silver chad davis dan kolundzic smit rao joseph fierro roberto fanara oliver wang chris gibson katharine sepp sumit brahmbhatt harris yang john macdonald daniel ruscigno caroline audrey macdonald usually older and further along in their careers than the Teja and Jane Kearns are acknowledged as mentors by jonathan carter keith wettlaufer chris buttenham phil thompson david d'angelo miklos tomka nisha sarveswaran palma robinson jack macdonnell ron budreau john wilson jason bayley anthony nazarov bob hamilton jason kotler mike vanderlee ed leavens hugh molyneux bill hennessey bernie smith anjan ghosh lebanon business linkages initiative rodolfo recomanta iftekhar hussain ian burgess peer-to-peer relationships which have smaller age and more than one person. josie la corte richard obuhowich pauleanna rerid wafa el-osta mark feltham

don hathaway alina cywinska dan seto rob bruce minra dib andrew mcnabb adam smith marie chevrier joseph fung jenna marino stage-of-development discrepancies between the pair. cameron hay don de los santos jim moss will stenason derek davy mauro jen couldrey jerrold mcgrath richard wong julian katz jeff campbell brenda van ginkel devin smith rubsun ho ariel garten and trevor coleman lori stewart erik coverdale igor jason tham rob whent alan doug gellatly ben zifkin For the most part, although Entrepreneurial Firms are ali morbi fabian raso

andrew stanbridge ian archbold sam vassa jun shu jeremy goldman

chad joshi jonathan garbe david bloom There is a tacit transfer of understanding about what identifying Mentors, it would be expected that many of matt sammut sameer hasan casper wong steve marshall arden corford ajay singh matt douglas

peter waugh david litwiller bryan socransky aaron wadler nicholas wiktorczyk jamie draves anthony heinrichpeter younkin scott monteithgreg williams steve barrett hassan khan malay panchal it is like to work in an entrepreneurial firm that can be these relationships are informal relationships since some denyse wahlgren vincent panepintobrent gelhar doug dykaar allan s. tweddle janet bannister brian deck scott rafer behzad malek yasiman soudagar ([email protected]) communicated by a mentor -- unwritten norms, attitudes, Respondents indicate as many as eight Mentors and it mike senechal francois renaud-byrne

rachel curtis neeraj jain steve mc crudden

vikram singh nilay lad mansoor osmani anita javed values, ways of behaving, and standards. Studies of would be improbable to keep up close ongoing relations andrew martinko ethan alter

magloire boganda mehdi darvishi bernard lim karlis vasarais garry innanen

tammy hwang non-entrepreneurs who are exposed to entrepreneurial with so many mentors. tim haig andrew echenberg chris janzen richard muller adrian sluga heather crosbie david evan armand raz frank coy blake landry david cartercyrus tehrani richard hyatt ernest yap ana misra mentors’ social influences show an increased nkky egwuenu doug matatall attila hazjer

dr. michael pearce kamal hassan

predilection to entrepreneurial careers particularly those VCs report looking seriously at only a handful of deals doug daymond marios matsias kyla poirier

offspring of non-entrepreneurial parents. To be clear, out of hundred that pass their desks, and thus actually tanay delima mallory mckewen albert carbone paul veter ed lycklama nathan hordy 34 kevin ferah dureen shehnaz 35 theoretical inspiration, practical inspiration interventions or the source of the arrow is the respondent, and the can act as de-inspiration as well, as participants come inspiration is the source of the arrows direction. Thus, RESULTS OF to recognize the hurdles and challenges that must be the direction of the arrows (the pointed end) indicates overcome. the person who is the inspiration. In this chart, those inspirers are grey if they did not have any other role RESPONDENTS and The chart outlining inspirers is located is Figure 19 - (40.63%). Those other noted who had other roles in the Respondents’ and Their Inspirers. It is more likely that persons ecosystem are noted by their roles’ colours. THEIR INSPIRERS or individuals are inspirations rather than organizations, so this chart shows the individuals (personal names) The number of times an individual is mentioned as involved, not their organizational names. Inspirers were an inspiration enlarges the size of the inspirer’s node. defined by the survey as persons who inspired you to For example, Elon Musk, Tim Peters, Aron Solomoon, Entrepreneurial inspiration is commonly defined story. This has a cumulative self-perpetuating effect on start your business and become an entrepreneur. The and James Sbrolla were mentioned by three or more as the ability to change hearts and minds towards future levels of entrepreneurship11. questionnaire goes on to instruct respondents that respondents and appear as larger nodes. The edges entrepreneurship. It is a construct with an emotional knowing the individual personally was not necessary to for this chart are not value-laden -- meaning there is no element and there is evidence that points to a positive The MaRS Discovery District survey treated the note an Inspirer. Survey Respondents had the option to strength, nor frequency, nor even personal knowledge link between entrepreneurial inspiration and start-up constructs (inspirers and mentors) separately although mention several inspirations. implied of the relationships indicated by the edges. intentions. Inspirers act as role models for aspiring, research in the area discusses the inspirational benefits Rather, the relationships simply indicate the presence or or struggling, entrepreneurs. Individuals acting of local mentorship and discusses both constructs as In the results, the respondents to this question, named absence of an inspirational individual by the respondent. as inspiration provide an intrinsic motivation that being closely linked. Key to the distinction between the many alters who would be little known to the average spurs founders and co-founders to higher ambitions. two is the deep interaction required of a mentor which is reader of this report, or interpreter of this survey. In some charts, the centrality of a constituent is an Surprisingly, there is little formal research into the not a requirement for an inspiration. Investors/ entrepreneurs known in their community important function of their connectivity. In this chart, impact that inspirational people have on entrepreneurial such as Tim Peters, Kevin O’Leary, or entrepreneurs however, no one was required to personally know performance, behavior, or motivations. The Inspirer quality investigated in the MaRS survey does in residence James Sbrolla (veteran of the financial their Inspirers so their centrality does not imply any not require the Respondents’ to have personally met, or and environmental industries) and Jeff Simonett; and meaningful quality. For example, Elon Musk appears When sources of inspiration are local, it is anecdotally communicated with, their Inspirers. This quality is part of tweeter-extraordinaire Aron Solomon seemed to be at the centre of the chart and appears to be slightly thought to have a greater impact on entrepreneurs the construct referred to as theoretical inspiration which identified as local in Ontario (captured via LinkedIn more connected to people who are also connected in because the presence of local inspiration generates is represented by external sources such as classmates, searches). Others, however, were well known although the network. In the ecosystem, Elon Musk is not more greater networking opportunities, nurturing activities, peers, teachers, digital or mass-media personalities, not necessarily local, nor alive, such as historical “connected” because those who referred him had not and potential for mentorship. The physical proximity cases, business networks, family or colleagues, and/ luminaries Thomas Edison, Henry Ford, or Sir Henry necessarily met him. It is hard to know in this specific enhances the number of occasions a founder might meet or very famous icons in a particular field (i.e. Roberta Royce. Some inspirers are famous individuals known in case since it is possible that some entrepreneurs have an inspirer. Bondar for space travel, Elon Musk for technology, their disciplines, and in a current time frame such as Sir met him. Mahatma Ghandi for civil rights disobedience, etc.). Richard Branson, Oprah Winfrey, and Elon Musk. An effectively operating, well-oiled entrepreneurial ecosystem with highly developed networks and Practical inspiration, by way of contrast, is induced by The person responding to the survey is at the blunt end opportunities to meet socially, can precipitate meetings hands-on exercises and activities that serve to heighten of the arrows in this chart. The arrows on the edges between entrepreneurs and their potential inspirers and confidence and interest in the topic (executing business indicate the direction of the inspiration. The small node spread the folklore of the local heroine’s entrepreneurial or technical exercises, cases, simulations, etc.). Unlike

36 37 This chart is composed of many components. Components adam smith adam smith

are groups of nodes that are not connected to other groups henry ford henry ford

aamar khwaja aamar khwaja of nodes. They are island, individual clusters, or tiny john d. rockfeller john d. rockfeller rubsun ho rubsun ho

devin smith devin smith zale tabakman zale tabakman communities. There are many small components of two, three peter diamandis peter diamandis

calvin chu calvin chu jenna marino jenna marino

and four nodes that have no ties to the rest of the network. bill fuller bill fuller john c. maxwell john c. maxwell jen couldrey jen couldrey hundreds of them hundreds of them These circumstances would normally indicate a lack of olavi rinne olavi rinne quentin wahl quentin wahl

doug gellatly doug gellatly juan ravagli juan ravagli minra dib minra dib cohesion, however, because the inspirers are not necessarily in jose ferreira jose ferreira don de los santos don de los santos heli doggett heli doggett sean cornelius sean cornelius sarah prevette sarah prevette chris brady chris brady the area, nor known by the Respondents, the lack of cohesion jeff fuller jeff fuller john assaraf john assaraf andrew mcnabb andrew mcnabb alina cywinska alina cywinska iftekhar hussain iftekhar hussain emmanuel anassis emmanuel anassis michael niren michael niren is irrelevant. dr.kay macphee dr.kay macphee kelly shaw kelly shaw kevin ferah kevin ferah

jeremy heimans jeremy heimans thomas edison thomas edison bruce poon bruce poon

wafa el-osta wafa el-osta dyson dyson tony walsh tony walsh dan seto dan seto jessie woolley-wilson jessie woolley-wilson sean polden sean polden One important feature given the framework outlined at the cathleen macdonald cathleen macdonald mark leggott mark leggott colm brannigan colm brannigan ion furjanic ion furjanic ryan clemmer ryan clemmer beginning of this section would be to know the general lindsay sage lindsay sage masoud reza aziminajjar masoud reza aziminajjar ahsan ul alam ahsan ul alam jack macdonnell jack macdonnell stephen beney stephen beney richard branson richard branson geographic location of each of the respondents as well as michael hyatt michael hyatt ernest earon ernest earon dean irvine dean irvine mary chong mary chong david evan david evan kyla woodcock kyla woodcock hank vander laan hank vander laan the Inspirers indicated in this chart. Accumulating more ric young ric young laryn fernandes laryn fernandes ajay singh ajay singh chris mcinnis chris mcinnis andrew white andrew white murray mccaig murray mccaig adam la france adam la france local inspirers can be a quality that the ecosystem may want tammy hwang tammy hwang peter shaw peter shaw steven cox steven cox michael armata michael armata allan revich allan revich geraldine cahill geraldine cahill randy hess randy hess to aspire to, much like the mentors noted earlier. It is also sameer hasan sameer hasan anjan ghosh anjan ghosh aaron reimann aaron reimann

dorothy engelman dorothy engelman paul veter paul veter david asgeirsson david asgeirsson unknown, whether there are any identifiable relationships that heather payne heather payne aron solomon aron solomon naheed kurji naheed kurji paul jay paul jay suzanne west suzanne west katharine sepp katharine sepp chris moss chris moss

might exist between the Respondent and their Inspirer -- such wayne mcphee wayne mcphee

john paul morgan john paul morgan as a parent, or a neighbor, or a professor, or an investor, etc. jodi simpson jodi simpsondon duval don duval chris buttenham chris buttenham dureen shehnaz dureen shehnaz mark mikulec mark mikulec kevin o'leary kevin o'leary tim peters tim peters paul hogendoorn paul hogendoorn erin fitzpatrick erin fitzpatrick adam caplan adam caplan jonathan holland jonathan holland juliette cooper juliette cooper lindsey roehrig lindsey roehrig Like the Mentors in the previous section, the Inspirers are sam kurytnik hildebrand sam kurytnik hildebrand jason gray jason gray zahra sakkejha zahra sakkejha dorothy merrikin - my mom dorothy merrikin - my mom michael trzecieski michael trzecieski roberto fanara roberto fanara david dykaar david dykaar overwhelmingly male. The community at large may want to sherif botros sherif botros sheri copplestone sheri copplestone elon musk elon musk marie forleo marie forleo daniel bordenave daniel bordenave sir henry royce sir henry royce

acknowledge, publicize and create public opportunities for tom ford tom ford lisa harun lisa harun oprah winfrey oprah winfrey sergey konyshev sergey konyshev jigar shah jigar shah steve jobs steve jobs ryan denomme ryan denomme don kaluzny don kaluzny emilia farrace emilia farrace successful female entrepreneurs and operators to become morris camlot morris camlot mark clawsey mark clawsey doug dykaar doug dykaar jm colthart jm colthart widely known inspirers for women. edward rogers edward rogers erika caceres erika caceres vicki saunders vicki saunders sean peel sean peel andrew martinko andrew martinko erin r. windrim erin r. windrim geoff simonett geoff simonett bill gates bill gates michael perry michael perry marc reppin marc reppin andrew richmond andrew richmond veronica diaz veronica diaz tonny bailletti tonny bailletti vincent panepinto vincent panepinto jason stoll jason stoll nevin buconjic nevin buconjic inayat panjwani inayat panjwani george sinclair george sinclair brent gelhar brent gelhar 11 quinten griffiths quinten griffiths Brown, R. and C. Mason (2017). “Looking inside the spiky bits: a critical review and ishaan singla ishaan singla mark feltham mark feltham nkky egwuenu nkky egwuenu mike vanderlee mike vanderlee mae jameson mae jameson tim ferriss tim ferriss conceptualisation of entrepreneurial ecosystems.” Small Business kiran panjwani kiran panjwani mike rossi mike rossi amir azhari amir azhari

alf bj rseth alf bj rseth tobi lutke tobi lutke Economics 49(1): 11-30. tamara jensen tamara jensen howard brown howard brown sir richard branson sir richard branson daniel ruscigno daniel ruscigno gary vaynerchuck gary vaynerchuck devon wright devon wright lindis collins-bacchus lindis collins-bacchus paul ege paul ege john davies john davies david david claudio carosi claudio carosi

kosta panagoulias kosta panagoulias allan lau allan lau james sbrolla james sbrolla bryan socransky bryan socransky mike shoss mike shoss michelle lochan michelle lochan lequanne collins-bacchus lequanne collins-bacchus

margaret ngai margaret ngai carol dewynn carol dewynn riyad mobeen riyad mobeen ernest yap ernest yap alex sopinka alex sopinka chris sacca chris sacca leigh peterson leigh peterson eugene bacchus eugene bacchus Figure 19 - Respondents & Their Inspirers alastair jenkins alastair jenkins allan s. tweddle allan s. tweddle xerxes wania xerxes wania richard lo richard lo elvin sotto elvin sotto peter dietz peter dietz steve black steve black kamal hassan kamal hassan oliver wang oliver wang Nodes: 224 randy hendriks randy hendriks chantal charbonneau chantal charbonneau ian burgess ian burgess mitchell lesbirel mitchell lesbirel Edges: 146 christian karrer christian karrer harvey coleman harvey coleman kevin mercer kevin mercer ting he ting he guy kawasaki guy kawasaki Average Degree: 0.652 kacey cayen kacey cayen howard roark howard roark lebanon business linkages initiativlebanone business linkages initiative

ransom hawley ransom hawley rahul raj rahul raj Average Path Length: 1.17 michael greenberg michael greenberg bart cilliers bart cilliers sonam singh sonam singh sheri tomchick sheri tomchick

ronald sayegh, hamid el debs,ronald amine sayegh, nehme, hamid amine el debs,nasse r,amine gilbert nehme, moukhaybe aminer nasser, gilbert moukhayber james whittaker james whittaker marcus quigley marcus quigley dave asprey dave asprey alan alan christie christelis christie christelis marsha kennington marsha kennington paul barter paul barter andrew giordano andrew giordano erik coverdale erik coverdale

38 39 enhances learning and development of entrepreneurial with knowledge based on broad backgrounds and capacities. Existing entrepreneurs have knowledge and qualifications. DISCUSSION experiences to share with newer entrepreneurs and help build confidence while less experienced entrepreneurs Alternatively, mentors may have significant experience bring new perceptions, innovations and fresh insights in specific areas where agency personnel have not been Entrepreneurs with strong networks capitalize on to existing entrepreneurs. Reaching out to other personally previously engaged. Agencies and policy confidence, experience, and their relations with others, SUPPORT entrepreneurs can take the form of cooperating, co- interventions may want to consider these observations. thereby facilitating access to information and knowledge. ORGANIZATIONS learning, consultative and collective actions. Regardless, the source of the mentors expertise is worth Improving the cohesion of entrepreneurial ecosystems considering. has myriad benefits; most notably, entrepreneurs’ In addition to enhancing entrepreneurial desire, the The activities of Support Organizations were scrutinized networks are a positive indicator of entrepreneurial firm tacit skills learned from working or consulting with Inspirers and mentors are overwhelmingly male. in detail. Some specific observations are made in performance. peers or mentors inform emerging entrepreneurs Furthermore, where women were noted, it appeared that reviewing these charts. MaRS has the most clout to on the difficulties and ambiguity associated with they had female inspirers and mentors. The diversity be a catalyst business leader to cultivate relationships Entrepreneurs with greater networks and social entrepreneurship. Discouragement of entrepreneurship of the ecosystem will improve if there is a focus placed because of their footprint in the ecosystem. Its access capital are more capable of influencing the financial is a benefit if these engagements discourage weaker on women mentors and inspirers. The ecosystem to the ecosystem occupies a large presence and its performance of their firms through improved sales and actors. community needs to acknowledge, publicize and create affiliations help pinpoint high-impact entrepreneurs to the acquisition of finance – two key areas of difficulty for public opportunities for successful female entrepreneurs act as mentors and inspirers. growing firms. Entrepreneurs who use their networks In the results of the ecosystems around Support and operators to act as inspiration for young women. access resources and facilitate their ability to acquire Organizations, Mentors also played a significant role in Agencies should be able to maximize their resources finance by taking advantage of strong ties. Strong ties, supporting entrepreneurs. Mentors were equal to or because various organizations and agencies have who are more likely to be closer acquaintances and just behind the role played by Support Organizations different specializations. The type of information sought friends, are also linked to sales performance. in every instance identified in the results. There is from organizations and agencies should be distributed considerable merit to this where a bona fide mentor by the stage of the respondent’s company and the Connectivity is crucial in an entrepreneurial ecosystem. is concerned, i.e. someone with better experience specifics of the entrepreneurs’ requests. Overall, The more cohesion there is amongst components and advanced understanding of the topic concerned. the same support organizations were continuously (different social circles) the more different kinds of However, it is not clear whether the mentors are formal, mentioned including RIC Centre, MarRS Discovery knowledge can be shared. The actors straddling established relationships developed between more District, MaRS IAF, OCE, Communitech. To a lesser different components are able to combine different mature organizations and mentees. Or are they informal degree, the Accelerator Centre, Queen’s Innovation spheres of knowledge that produce innovations. relationships whereby an entrepreneur calls on someone Connector, and Virgin Group are variously mentioned. with whom they are acquainted to ask for advice? The largest combined impact for all observations was The presence of many components (small clusters not observed at MaRS Discovery District, RIC Centre and attached to other clusters) indicates an absence of The principle concern here would be if entrepreneurs OCE. cohesion amongst the nodes in the ecosystem and is are reaching out informally to people they can confide worth careful consideration. The absence of multiple in, but who are not the best versed in the topic in cross-connectivities suggests that some components which the entrepreneur is interested, if entrepreneurs are very isolated. The knowledge circulating in other MENTORS are identifying their own mentors based on qualities components is not reaching them, nor does the that might be less than those espoused by established knowledge they are circulating escape their circle. Support Organizations. An informal mentor may have Learning from one another (peer-to-peer) has The organization or individual who can create bridges only anecdotal knowledge based on his/her own reciprocating benefits. Peer-to-peer learning brings between these components stands to benefit from experience. While it is beneficial to see entrepreneurs fresh insights as long as peers recognize that knowledge informational advantages and cross-pollinating more reaching out to one another, it could be a harbinger shared should be treated with some skepticism. Working information through the ecosystem. if entrepreneurs are reluctant to turn to the agencies together to create empathy and mutual benefits and organizations who are mandated to support them 40 41 contrary to all the other major ecosystems of the ACTIONS QUESTIONS RAISED by world. This may be mitigated by the existing presence the RESEARCH of significant incubators and accelerators such as Communitech, Accelerator Centre, the Ontario Discovery Actions that may enhance the cohesiveness (knittedness) Centre with significant support, funding, competitions, of the ecosystem to make it denser and more mentors, and other start-up and educational sustenance. interconnected include: Because of the importance of mature firms to Also, “graduates” of the various university accelerators • Continue to cultivate mentorship opportunities for entrepreneurial ecosystems, it is worthwhile to assess such as Ryerson’s DMZ may have alumni that identify entrepreneurs (Endeavour, MaRS, and others); the age of the firms represented by the individuals more closely with their accelerator rather than the • Invoke the lore of the local success stories for from whom respondents sought support. Recognized university. The rationale for the anomaly would be inspiration; as instrumental to the growth and sustenance of informing. • Provide marketing mechanisms for peer-to-peer innovation and entrepreneurship, mature firms are vital events to improve connectivity; in an ecosystem. The histories of the great ecosystems Founders have their own networks, but there is room • Encourage the lone wolves to attend meetings to of the world are punctuated by large, or mature, firms for more connectivity amongst them. Although it may become acquainted and engaged, thus learning from that engaged in knowingly, or unknowingly, supporting seem contrary to expected thinking, the incidence of one another; the ecosystem in ways other than simply becoming a entrepreneurs in a large city, dispersed amongst a very • Develop more cohesiveness-cultivating events customer. Finding the mature firms identified in the large population may result in more isolation, rather than (perhaps neighborhood based) for entrepreneurs ecosystem will escalate interactions between young firms less. Does a smaller-, or larger-city format make it easier to meet, to network, to cultivate confidence, and to and mature firms. It is hard to identify the outreach to or more difficult for tech entrepreneurs to naturally find address issues and difficulties; other mature firms with this data. It may not be difficult themselves in familiar surroundings with one another, • Craft tacit learning and entrepreneurial educational or costly to identify the relative stage of development thereby not benefitting from mutual contacts. While experiences for new comers to specific events to of the small number of firms that were identified by this suggests the vital role of marketing for the events either cultivate effective actors or weed out weaker respondents as being sought-after for information and which support organizations are mandated to encourage, ones; knowledge. it also raises the intriguing question of the role of the Make concerted efforts to ferret out women founders to large-city ecosystem compared to small-city ecosystems. motivate women and to act as mentors and inspirerers. Knowledge of the geographic location of each of the • Appraise the ecosystem, wherever possible, about individuals named in this chart helps to identify local the fundamental imperative of boundary spanning star-quality entrepreneurs on whom to focus. More in order to embolden entrepreneurs to reach out to local champions improve the opportunity for aspiring other communities and networks; start-ups to meet or have access to role models and • Reach out to the respondents in this study and heroes. Answering questions such as a geographic organize an event for them specifically. locale are often possible with little effort -- following the original data collection -- by applying some person- hours to identify the various locations of the respondent, inspirers, mentors. This then provides the opportunity to reach out to the respondents. The absence of a large presence by universities is

42 43 SUGGESTED READINGS

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