Lazaridis Institute Annual Report 2018-2019 Lazaridis Institute – Annual Report 2018-2019
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OUR PLACE IN THE GLOBAL TECH ECOSYSTEM Lazaridis Institute Annual Report 2018-2019 Lazaridis Institute – Annual Report 2018-2019 2 Our Place In The Global Tech Ecosystem “ I’m excited to have the opportunity to grow a technology company in Canada. As Canadians, we have the best of both worlds. We can be aggressive, big, and bold to make things happen, while at the same time being humble, kind, and thoughtful. The combination is what makes us Canadians unique. In some ways, I view my business as the very best way to bring Canadian culture to people all around the globe.” Ilya Brotzky, Founder and CEO, VanHack MESSAGE FROM THE In countering these realities, we of technology firms as they move MANAGING DIRECTOR celebrate the fact that 17 of 40, from startup to scaling in global I love this quote from Ilya – a or more than 42%, of our alumni markets. We continue to welcome talented company founder from companies have a woman founder preeminent visiting scholars and Cohort 3 of the ScaleUp Program. or co-founder. recognize Canadian researchers for He captures an important dimension Our experiences over the past their academic contributions. of what Canadian tech companies year convince us that the future At the Lazaridis Institute, we share offer the world – and one of the of Canadian tech is brighter than Ilya’s vision. We want our cohort key reasons the Lazaridis Institute ever. Applications tripled for companies to be bold. Go big. Make is so proud of the part we play in Cohort 5 of the Lazaridis ScaleUp things happen. Bring the best of supporting these companies in their program, indicating the increasing Canada to the rest of the world. scale-up journey. size and strength of Canada’s tech Scaling companies, especially tech ecosystem. This summer—for companies, has become an important the fifth time—we travelled to 14 focus of governments, investors and Canadian cities, and we can attest academics worldwide. The benefits to the proliferation and vibrancy of of establishing a critical mass of high- tech hubs across the country. growth firms in a region are obvious. This past year we also hosted They have a disproportionately high DRIVE 2019, Canada’s first impact on job growth, economy global conference on scale-up and quality of life. With that said, ecosystems. DRIVE brought Kim Morouney Canadian tech companies face together thought leaders from Managing Director, serious issues scaling into global around the globe — policy-makers, Lazaridis Institute, markets. The Lazaridis Institute is researchers, authors, accelerators Lazaridis Professorship in dedicated to helping our companies and successful tech CEOs — who Executive Development grow and prosper on a global scale. compared best practices and In our work with the Canadian debated bold new ideas. technology industry we pay close In addition to supporting promising attention to the representation Canadian scale-up companies of women among tech CEOs in their growth and expansion and founders. The proportion of to new markets, the Lazaridis women in STEM fields and funding Institute conducts world-class for women-led tech companies academic research that addresses remains stubbornly, abysmally, low. the key issues facing managers 1 Lazaridis Institute – Annual Report 2018-2019 MESSAGE FROM THE CHAIRMAN The management of new and emerging technology differs tremendously from the management of more mature industries. Our specific focus on technology management is helping Canadian companies increase their presence in the global technology ecosystem. The Lazaridis Institute has matured significantly since its inception. Our programs provide the management tools that enable current and future tech leaders to access markets the world over. As the board chairman of the Lazaridis Institute, I share the enthusiasm of Dean Michàel Kelly and our distinguished professors and researchers for taking the Institute to the next level over the past year. Mark Pecen, COO, ISARA Corporation ABOUT THE LAZARIDIS MISSION INSTITUTE To increase domestic prosperity by making Canadian technology As part of the Lazaridis School of Business and Economics at Wilfrid Laurier University, the Lazaridis entrepreneurs globally competitive. Institute is becoming a global authority on the VISION management of high-growth technology companies. Despite having one of the most successful tech To be the global authority on startup ecosystems in the world, relatively few Canadian companies become global enterprises. the management of high-growth The Lazaridis Institute is working to change this. technology firms. 2 Our Place In The Global Tech Ecosystem 3 THE LAZARIDIS INSTITUTE | FALL 2019 Average employee BY THE growth rate NUMBERS cohort companies from seven provinces combined mentorship capital accessed of companies new jobs have a female of companies companies given founder or created individualized co-founder still operating in support Founder, CEO, since program and executive Canada today participants began 4 Average employee growth rate cohort companies from seven provinces combined mentorship capital accessed of companies new jobs have a female of companies companies given founder or created individualized co-founder still operating in support Founder, CEO, since program and executive Canada today participants began 5 Lazaridis Institute – Annual Report 2018-2019 LAZARIDIS SCALEUP EXECUTIVE FELLOWS PROGRAM GEOFF BAUM CANADIAN TECH. CANADIAN TALENT. FORMER EIR, ADOBE SYSTEMS, CO-FOUNDER, GARAGE.COM The Lazaridis ScaleUp Program is Canada’s most highly acclaimed national scale-up Geoff served as a long-time Entrepreneur-in- accelerator. Each year we select the 10 Residence at Adobe Systems where he led a most promising, fast-growth Canadian tech variety of successful startup projects to build companies through a competitive application new Adobe consumer and enterprise products process. Fewer than five per cent of applicants and businesses. Prior to Adobe, Geoff was are accepted. the co-founder of Garage.com, which raised capital for, and invested in, nearly 200 early- The ScaleUp Program is designed to strengthen stage technology and life science startups tech companies’ ability to navigate the including Pandora and the Motley Fool. He challenges and opportunities faced by rapidly was an economics editor and columnist for growing businesses. Key to our design are Forbes ASAP and is an inventor on more than programming and mentorship based on an 10 patents. He loves working with and learning exclusive network of experts from leading from ScaleUp Program companies as he shares global technology firms such as Shopify, his expertise in positioning, communication, Facebook, Google, Adobe, Microsoft, Ecobee, go-to-market, and product/market fit. Pinterest, Apple, Vidyard, Borrowell, Instacart, Uber, Canada Goose, SurveyMonkey, True BRANDON GOLDMAN Ventures, Lightspeed Venture Partners, USVP, DIRECTOR OF SALES, SURVEYMONKEY and more. Brandon is a sales and business development Programming is in the form of intensive leader at Survey Monkey where he is weekend workshops in which industry leaders responsible for new and emerging products. work with cohort company executive teams He has 10 years of experience in the startup, in small group sessions. Weekends focus on SAAS and social enterprise space encompassing critical aspects of scaling a company including roles in sales, business development, product leadership, sales and marketing, product, global management and sales leadership. As a expansion, finance and metrics, and people. Lazaridis ScaleUp Program Executive Fellow, Workshops take place in six different cities Brandon has a passion for working with across North America, three in Canada and founders and advising startups on their go-to- three in the U.S. market strategy and scaling sales and marketing Our mission is to support Canadian founders teams from the ground up. and their teams as they develop talent and scale their businesses here in Canada. While the Institute invests more than $100,000 NETWORK OF EXPERTS in mentorship and programming for each participating company, the ScaleUp Program is Our international network of experts provided absolutely free of charge. Unlike most showcases an expansive breadth of experience accelerator programs, the Institute does not from some of the world’s most influential require companies to pay fees or give up equity and innovative companies. As facilitators, to participate. We support founders as they they lead intensive two-day workshops increase revenue, create jobs, and access tens focused on the challenges companies face of millions of dollars in capital. In the past year as they scale. As mentors, they share their alone cohort companies have raised more than expertise with leadership teams of each $188 million. company, providing more than 120 hours of advice, feedback and connections throughout the 12 months of the program. 6 Our Place In The Global Tech Ecosystem SPEAKERS & MENTORS GOLY ANVARY JOSÉ CONG Goly is a digital marketing, retail, and brand José is recognized as a Silicon Valley industry expert who has extensive experience working thought leader in the field of talent acquisition across industries in fashion, consumer products, and management and has been part of talent and technology. She most recently served as strategies behind some of the most recognized the Head of Innovation and Digital Market consumer electronics products in history, for The Gap. including Apple’s iPod and iPhone and Nest’s connected thermostats and devices. JEFF BOOTH Jeff