Annual Report 2011

The goal

To increase Canadian prosperity by developing Canada’s next generation of high impact entrepreneurs. table of contents

1. Message from the Co-founders 2. Founding Patrons of The Next 36 3. Program Overview 5. Inaugural Cohort of The Next 36 9. 2011 Awards 10. First Cohort Profile 11. The Ventures 12. Media 13. Our First Partners 14. Major Events 15. Mentors 16. Board of Directors 17. Who is Involved Message from the co-founders

Message from The co-founders

After a year on the co-founders’ drawing board, The Next 36 launched publicly on September 23, 2010 with the goal of increasing Canadian prosperity by developing high-impact entrepreneurs. Student demand was immediate, and three weeks later the first application season closed with hundreds of applications from across Canada and from Canadians around the world. At our firstN ational Selection Weekend, 100% of successful finalists accepted their spot and, after nine demanding months, all completed the program successfully. The first cohort described the experience as “transformative,” “inspirational” and “challenging,” and all of them reported that The Next 36 was as impactful—or much more impactful—to their growth as their university degree.

This disproportionate impact may be largely explained by the quality of individuals who gave their time to our candidates through this first year. During theE ntrepreneurship Institute, some of the world’s top faculty taught them lessons directly applicable to the ventures they were building. Over the nine months of the program, 150 CEOs, entrepreneurs and professionals became their mentors, advisors and lecturers to guide them, teach them, listen and answer their questions. What distinguishes The Next 36 from other entrepreneurship programs in Canada and elsewhere is the value of the advice they give, the amount of time they spend and the example they set. They have raised the bar on our candidates’ expectations of themselves and increased their capacity for achievement.

The Next 36 began its first year onS eptember 1, 2010 as a program of the University of Toronto, became incorporated as a not-for-profit corporation onF ebruary 8, 2011 and a registered charity effective September 1, 2011. Our board of directors, founding patrons, national partners, and other founding donors have provided the seed funding to develop this program and the organization ended the year in a sound financial position. We are grateful for the generosity of time and treasure extended by so many visionary Canadian leaders in this first year, and excited to build on the early momentum we have generated together.

Claudia Hepburn Ajay Agrawal Reza Satchu Tim Hodgson Executive Director, Academic Director, Founding Chairman & Co-Chair, The Next 36 The Next 36 The Next 36 Co-Chair, The Next 36

1 Annual Report 2011 Founding Patrons of the Next 36

Founding patrons of the next 36

Three of Canada’s most celebrated business leaders joined together on July 21st, 2011 to support Canada’s next generation of high impact entrepreneurs. The Founding Patrons of The Next 36 are inspiring role models who have helped to build Canada, both through their businesses and through their philanthropic leadership.

W. Galen Weston Paul Desmarais Sr. Jimmy Pattison

" I'm delighted to " The Next 36 gives " Canada needs be joined by two them the tools entrepreneurs such legendary to do so: great with innovation, Canadians as Jimmy role models, high drive and lots Pattison and Paul expectations and of creativity. Desmarais Sr. to the resources to The Next 36 sets be role models start a business. a great example for Canada's next I am proud to be and benchmark generation of part of it. " for all of our nation builders. " young people. "

- W. Galen Weston, Chairman - Paul Desmarais Sr., Chairman - Jimmy Pattison, Chairman & President, George Weston of the Executive Committee of & Chief Executive Officer, Limited (GWL) Power Corporation of Canada The Jim Pattison Group

Annual Report 2011 2 Program overview program overview

The Next 36 offers top Canadian undergraduates a series of life-changing experiences and relationships to expand their sense of what is possible to achieve.

72 CEOs, 40 Undergraduate Students, 10 Mobile Apps and 1 National Prosperity Challenge.

Dec 3-5 May 4 Aug 15 Selection Students move Venture Day: Weekend into University Teams judged of Toronto by investors residence Teams work remotely on new Oct 17 venture; brainstorm ideas, market 15 week residency in Alumni Application research, prototype, with the Toronto; build, launch, Community Due guidance of business mentors market mobile app Developed

Oct Nov Dec Jan Feb Mar Apr May jun Jul Aug sept

Entrepreneurship Institute taught by top professors and leading practitioners

" The Next 36 is not just The Background The Next 36 is inspired by the success of a course taught by Reza helping me meet my Satchu, Founding Chair, The Next 36. Satchu’s course, “Economics of Entrepreneurship,” was rated the top course out of 400 goals - it's helping me undergraduate courses taught at the University of Toronto. This redefine them. " course changed the way students define and tackle problems, pushed them out of their comfort zone and fundamentally altered their personal goals. - Emily Dimytosh, Alumni, The Next 36 The Next 36 builds on the founding principles of this course, to (Queen's University - Bachelor of create a series of life-changing experiences and relationships for Commerce, 2012) Canada’s most promising students.

3 Annual Report 2011 Program overview

" For years, I have been looking for the best way to help young entrepreneurs and The Next 36 is the perfect formula. "

- Anthony Lacavera, Chairman and CEO, Globalive, Board of Directors, The Next 36

The Components Brendan Calder Adjunct Professor of Strategic Management, Entrepreneur in Residence, Joseph L. Rotman School of New Venture Challenge (December 2010 to August 2011) Management Candidates join cross-disciplinary teams of 4 co-founders Avi Goldfarb Associate Professor of Marketing, Rotman School and work remotely for the next 5 months. Each team is matched of Management, University of Toronto with two mentors, professional advisory services, market David Hsu Associate Professor of Management, The Wharton intelligence, research, capital and other resources to assist them School, University of Pennsylvania in the speedy development of a mobile venture. Ventures have Ramana Nanda Assistant Professor of Business Administration, the opportunity to pitch many times throughout the summer, Harvard Business School culminating in Venture Day where they present to investors from Dr. John O’Dwyer Partner, Strategic Advisory International across North America. Reza Satchu Chairman and CEO, Alignvest Capital Management Stewart Thornhill Associate Professor Entrepreneurship Institute (May to August 2011) of Strategic Management and The Entrepreneurship Institute consists of in-class instruction Entrepreneurship, Executive taught by internationally acclaimed faculty and Canadian Director of Pierre L. business leaders. Morrissette Institute for Entrepreneurship, Richard Candidates are exposed to award-winning short courses on Ivey School of Business, topics critical to entrepreneurs, such as: University of Western • Strategy and Innovation Ontario • The Economics of Entrepreneurship • Economics of the Internet • Entrepreneurial Strategy in Technology Markets • Business, Government and the Global Economy • Entrepreneurial Finance The Entrepreneurship Institute includes workshops on venture finance, negotiation, sales, marketing and project management Candidates receive: and provides frequent access to Canadian business leaders, who served as mentors or informal advisors to the candidates • Up to $50,000 to launch a after their time in class together. The courses taught at the business venture in the mobile Entrepreneurship Institute are appropriate for students with or tablet environment a broad range of academic backgrounds, and were directly • CEO mentorship from Canada’s top applicable to the issues candidates were confronting in their mobile ventures. business leaders and entrepreneurs • Academic instruction from some of Internationally Acclaimed Professors the world’s top faculty 2011 Faculty • A powerful peer network with some of Canada’s most talented and Ajay Agrawal Peter Munk Professor of Entrepreneurship, innovative students University of Toronto, Rotman School of Management Marc Busch Karl F. Landegger Professor of International Business Diplomacy, Edmund A. Walsh School of Foreign Service, Georgetown University

Annual Report 2011 4 inaugural cohort of the next 36 inaugural cohort of the next 36

Danish Ajmeri Shahed Al-Haque University of Western University of Toronto - Ontario - Honours in Business Engineering Sciences, Administration, Foodstr Electric Courage

Duncan Bays Ronen Benin University of British Columbia University of Western Ontario - B.Sc. Cognitive Systems - - Honours Bachelor of Arts Computational Intelligence and in Business Administration, Design, Electric Courage Tradyo

Amy Berard David Berkal Thompson Rivers University University of Toronto - Peace - Bachelor of Business & Conflict Studies, Munk Adminstration, DineWithMe School for Global Affairs, Whadyathink

Shiré Brandi Ryan Brideau University of Ottawa University of New Brunswick - Common Law, - BSc. Physics, BA. Economics Whadyathink (Honours), PushPal

Steven Buzinski Krista Caldwell University of British Quest University Canada Columbia - Management, - Liberal Arts and Science, Foodstr Winston

5 Annual Report 2011 inaugural cohort of the next 36

" I have learned more in the last nine months with The Next 36 than I did in four years at university. "

- Alumni, The Next 36

Michael Del Balso Emily Dimytosh University of Toronto - Queen’s University - Electrical and Computer Bachelor of Commerce, Engineering, Playfit Whadyathink

Daniel Gottesman Shane Gu McGill University - Electrical University of Toronto - Engineering (Honours), Engineering Science, Posterboard PushPal

Prateek Gupta Tulika Gupta McMaster University - University of Toronto - Integrated Science, Electrical and Computer befitting Engineering, Posterboard

Cathy Han Gideon Hayden University of British Columbia McGill University - Bachelor of Commerce - Management, - Finance, Playfit Tradyo

Eran Henig Salima Hirji University of Toronto University of British Columbia - Specialist in Computer - Sociology Major with Science and Economics, Migration/Globalization Tradyo Studies Minor, DineWithMe

Annual Report 2011 6 inaugural cohort of the next 36 inaugural cohort of the next 36

Shahob Hosseinpour Pilwon Huh McMaster University - Bachelor University of Waterloo - of Health Sciences (Honours) Double Major in Computer - Global Health Specialization, Science and Computational Whadyathink Mathematics, DineWithMe

Gracen Johnson Saumya Krishna University of Guelph - University of Western International Development Ontario - Health Sciences, and the Biophysical Economics, Scholar’s Environment, Tradyo Electives, Playfit

Stephen Lake Mindy Lau University of Waterloo - Columbia University - Mechatronics Engineering, Economics, Winston Playfit

JP Leroux Mitchell Lesbirel St. Mary’s University - Dalhousie University - Bachelor of Commerce, Bachelor of Management, Electric Courage PushPal

Ke Li Dan McCann University of Toronto - Queen’s University - Commerce and Computer Commerce, befitting Science, befitting

7 Annual Report 2011 inaugural cohort of the next 36

" The Next 36 has given us the courage to dream big, the support to execute on our ideas, and the ability to make a difference in Canada in the future. "

- Cathy Han, Alumni, The Next 36 (University of British Columbia, 2011)

Nadeem Nathoo Aidan Nulman University of Western University of Toronto - Ontario - HBA (3rd & 4th Psychology & Cinema year), PushPal Studies, Winston

Daniel Rodic Parvinder Sachdeva University of Toronto - Ryerson University - Bachelor of Commerce, Bachelor of Commerce DineWithMe in Business Management, Posterboard

Michael Schmidt Holly Smith Queen’s University - University of Western Engineering Science, Ontario - Science, Posterboard Electric Courage

Saksham Uppal Philippe Vennes University of Toronto - Bishop’s University - Engineering Science, Finance, befitting Computer and Electrical Engineering, Foodstr

Rachael Vriezen Yilun Zhang University of Guelph - University of Toronto - Bachelor of Arts, International Mechanical Engineering, Development, Foodstr Winston

Annual Report 2011 8 2011 awardS

Valedictorian David Berkal, Peace & Conflict Studies graduate from The Satchu Prize University of Toronto Emily Dimytosh, 4th year, Commerce at Queen’s University The individual who elevated the experience and contributed In recognition of outstanding the most value to the 2011 performance in the program cohort of The Next 36 as and a demonstrated potential to selected by their lead Canada’s next generation peers of high impact entrepreneurs as selected by the co-founders

Outstanding Venture Award Tradyo

In recognition of venture achievement and a demonstrated potential to lead Canada's next generation of high-impact entrepreneurs first cohort profile first cohort profile

of first year alumni stated that "9 months of The Next 36 were 100% AS or MORE valuable than their 4 years of university."

Number of Students per Area of Study

15 Commerce/bba

9 Engineering

8 Science

8 Arts

The Next 36 Cohort Spreads Across Canada Candidates by Gender

• Bishop's University • Thompson Rivers University • Columbia University • University of British Columbia • Dalhousie University • University of Guelph 28% • McGill University • University of New Brunswick female • McMaster University • University of Ottawa 72% • Queen's University • University of Toronto male • Quest University • University of Waterloo • Ryerson University • University of Western Ontario • St. Mary's University

Annual Report 2011 10 The ventures

The ventures

The Next 36 ventures gave over 100 pitches, launched six apps and appeared on national television five times. Seven of the ten ventures were continuing this fall to build their product and raise funding.

Electric Courage Secures 2nd Round All ventures received: of Financing • Up to $25,000 in cloud hosting from Rackspace In early July, mobile flirting app, Electric Courage is the first venture of The Next 36 to secure $100,000 of financing from • Rogers smartphones and plans a private investor at a post-money valuation of $500,000. • Ernst & Young media training Whadyathink? on CBC’s The National • Access to Osler legal services On July 21st, CBC spent a day in the life of Whadyathink, • Presentation Skills and Sales & Negotiations a customer feedback mobile app. Cameras followed this Workshops venture from team strategy sessions to client meetings at Smoke’s Poutinerie and The Ontario Science Centre. The • MaRS Market Research footage aired on The National on July 22. Four Ventures Featured on The Pitch PlayFit Mobile, Whadyathink, DineWithMe and Electric Courage pitched live to a panel of seasoned investors on BNN’s "The Pitch".

11 Annual Report 2011 The Next 36 was featured CBC: 24 times in The National National Media "It's a boot camp for some of over the past Canada’s best young brains." year. Jul 22, 2011

web stats  globe & Mail 712 Facebook Likes "It’s aimed at the best students with the 587 Twitter Followers highest potential." 29,169 YouTube Views Jul 23, 2011

306,872 Website views of thenext36.ca 140 Financial Post Venture Vlogs "The Next 36 is the most (Video Blogs) intense, hot-house effort to force grow entrepreneurs ever attempted in Canada." Jul 26, 2011

TechVibes Macleans

"There are simply very few "They’re rubbing shoulders organizations that could with some of Canada’s parallel what The Next 36 most prominent business has tried to do." leaders." Mar 2, 2011 Aug 17, 2011 our first "Innovation and entrepreneurial Partners leadership are the lifeblood of the Canadian economy. The elite mentor- ship and world-class instruction offered to The Next 36 make it a dream opportunity for Canada's most ambitious students. In a few years, I expect that top recruiters and graduate schools will view it as a hallmark of superstar undergraduates." - David Naylor, President, University of Toronto

"Especially in challenging times, it’s the big thinkers who take bold actions to create jobs, generate wealth, open borders and improve the lives of millions in their own communities and beyond. At Ernst & Young, we’re big believers in the power of entrepreneurship and innovation. That’s why we’re so pleased to support The Next 36 in their quest to strengthen Canada’s next generation of innovators." - Trent Henry, CEO, Ernst & Young Canada

"The Next 36 offers smart, ambitious students an "The mentorship and intense, immersive, inspiring partnership between Canada’s entrepreneurial experience – just as top business leaders and budding they launch into their careers. They entrepreneurs make The Next 36 a truly powerful and unique program. see what is possible for themselves It’s incredibly exciting to support and for Canada. These students a program that helps young entre- will reap enormous benefits from preneurs build successful, this experience in the years ahead. impactful businesses right here And fortunately, so will Canada." at home on Canadian soil." - Ilse Treurnicht, CEO, MaRS Discovery - Nadir Mohamed, President & CEO, Rogers Communications District and Board of Directors, and Board of Directors, The Next 36 The Next 36 Major events major events

May Kick-Off Women Leader's Announcing the Anthony Lee, Founder Pitch Event Dinner Founding Patrons of C100 speaks at of The Next 36 Venture Day

National Selection Weekend Behind the Scenes at An Evening with Trent Sixty-four students from across Canada Polar Mobile Henry, Chairman and CEO participated in an intense weekend of Kunal Gupta, CEO of Polar Mobile, wel- of Ernst & Young Canada interviews, workshops, keynote addresses comed The Next 36 into Polar’s headquar- Ernst & Young hosted the candidates and idea generation. Featured speakers ters to learn about this successful start-up. included Nadir Mohamed, Jim Fleck, Kunal of The Next 36 and an outstanding Gupta and Marc & Craig Kielburger. Thirty group of past Entrepreneurs of the Year six students formed the first cohort. Women Leader’s Dinner at a dinner on the 31st floor of the E&Y Nancy Lockhart, Chief Administrative National Headquarters. May Kickoff Pitch Event Officer of the Frum Development Group, hosted the young women of The Next 36 Venture Day Less than 24 hours after arriving in Toronto at her home to meet a diverse group The culmination of the Entrepreneurship to begin the Entrepreneurship Institute, of outstanding female leaders. ten ventures pitched for first time in front Institute featured nine businesses pitching of their mentors, investors and fellow to investors from across North America. candidates. Announcing the Founding 250 guests attended the graduation Patrons of The Next 36 ceremony to learn who would receive the awards for Valedictorian, Satchu Prize and An Evening with Frank All candidates and many of Canada’s top Outstanding Venture. McKenna business leaders gathered in the garden of W. Galen Weston and the Hon. Hilary Frank McKenna, Deputy Chair, TD Bank Weston to recognize Mr. Weston, Paul Group and former Canadian Ambassador Desmarais Sr. and Jimmy Pattison as the to the U.S. and Premier of New Brunswick Founding Patrons of The Next 36. addressed The Next 36 on the importance of entrepreneurship to Canadian prosper- ity, at the top of the Toronto Dominion Social Entrepreneurship Bank Tower. Workshop Johann Olav Koss, Founder of Right Investor Pitch Breakfasts To Play, and Carolyn Acker, Founder of In early July, angel investors and VCs got Pathways to Education Canada, treated a sneak peak at ten mobile ventures that the candidates to a discussion on creating would be pitched on Venture Day. impact beyond the bottom line.

Annual Report 2011 14 Mentors

mentors

" I couldn't be more Jordan Banks David Masotti Managing Director, Facebook Canada Co-founder & Executive Chairman of impressed with Defyrus Inc. Charlotte Burke what The Next 36 Independent Board Member and Advisor Susan McGill has accomplished Brendan Calder Senior Advisor, MaRS Discovery District Adjunct Professor of Strategic Management, Francis Shen in a short period Entrepreneur in Residence, Joseph L. Chairman & Co-Chief Executive Officer, of time. The quality Rotman School of Management Aastra Technologies Ltd. Joseph Canavan Kevin Sullivan of the students Former Chairman & Chief Executive Officer, Deputy Chairman, GMP Capital Assante Wealth Management; United has been mind Financial Corporation Mark Zimmerman Senior Advisor, MaRS Discovery District blowing and the Jason Farris support from Founder, circaNow some of Canada's Charles Field-Marsham " Mentoring these best business Executive Chairman, Panafrican Group James Fleck students has been leaders has been M. Wallace McCutcheon Professor of without a doubt Business Government Relations, University incredible. " of Toronto the most valuable Krista Jones non-profit activity - Jordan Banks, Managing Director, Practice Lead for the Information Facebook Canada and Mentor, technology, Communications & I have done in my The Next 36 Entertainment Sector, MaRS Discovery District career. " John Kelleher President & CEO, RHB Group - Charles Field-Marsham, Executive Chairman, Panafrican Group and Mentor, The Next 36

15 Annual Report 2011 Board of Directors

Board of directors

Ajay Agrawal Marc Busch Joseph Samuel Duboc Charles Field- Peter Munk Professor Karl F. Landegger Professor Canavan Co-Founder & Partner, Marsham of Entrepreneurship, of International Business Former Chairman EdgeStone Capital Partners Executive Chairman, Rotman School Diplomacy, Edmund A. & Chief Executive Chairman of the Board, Panafrican Group of Management, Walsh School of Foreign Officer, Assante Pathways to Education University of Toronto Service, Georgetown Wealth Management; Canada University Adjunct Scholar, United Financial American Enterprise Corporation Institute

Scott Griffin Claudia Hepburn Tim Hodgson Anthony Patrick Chairman, General Executive Director, Special Advisor to Lacavera Meneley Kinetics Engineering The Next 36 the Bank of Canada & Chairman & CEO, Vice Chair, Head of Corporation former Chief Executive Globalive Global Investment Officer, Goldman Banking, TD Securities Sachs Canada Inc. & Executive Vice President, Wholesale Banking, TD Bank Financial Group

Nadir Reza Satchu Francis Shen Ilse Treurnicht Mohamed Chairman & CEO, Chairman and CEO, MaRS President & Alignvest Capital Co-Chief Executive Discovery District CEO, Rogers Management Officer, Aastra Communications Inc. Technologies Ltd.

Annual Report 2011 16 who is involved who is involved

Thank you to more than 200 individuals who have contributed to the success of our first year! This includes over 3600 volunteer hours.

Founding Patrons Rackspace Hosting Steve Moate Speakers University of Toronto Colleen McMorrow W. Galen Weston Carolyn Acker BCG The Boston Consulting Vivek Mehta Jimmy Pattison Jordan Banks Group Gillian Morrison The Hon. Paul Desmarais Ivan Brockman The BrainStorm Group Amanda Olliver Joseph Canavan CISCO Systems Canada Inc. David Palmer John Carbrey Major Donors John Armitage Tony Pampena Dan Debow Joseph Canavan Alex Baker Kelly Peace Samuel Duboc Samuel Duboc Alexander Banh Jackie Ranahan Joel Feldberg Charles Field-Marsham Jason Bechtel Erin Rogers Saul Feldberg Scott Griffin Suresh Bhat Annie Simpson Charles Field-Marsham Tim Hodgson Tad Brown Kwan Song Jim Fleck Anthony Lacavera Brendan Calder Laurie Stevens Jim Gray Patrick Meneley Christian Catalini Geoff Taber Kunal Gupta Reza Satchu David Ceolin Arshia Tabrizi Ronnen Harary Francis Shen Hemant Challapally Joanne Thomsen Trent Henry Kevin Sullivan Martin Croteau James Tucker Danial Jameel The W. Garfield Weston Jacqueline Cyr Michael Watts Foundation John Kelleher Don Duval Graham Weston Andrew and Valerie Pringle Craig Kielburger Michael Fekete Pai-Ling Yin Martha Fisher Mark Kielburger Other Donors Bob Froese Mentors Helen Kula Ajay Agrawal Jim Gray Johann Olav Koss Jordan Banks The John Dobson Foundation Ann Hatch Anthony Lacavera Charlotte Burke John Donald Julija Hunter Pierre Lassonde Brendan Calder Claudia Hepburn Doug Hyatt Peter Lamm Joseph Canavan Mark Wiseman and Marcia Moffat LaDanna James Lee Lau Jason Farris Rustom and Zarina Satchu Helen Kula Anthony Lee Charles Field-Marsham Peter Lamm Chor Lam Joe Manget James Fleck Sarah Legault Rebecca McDonald Krista Jones Jacoline Loewen Frank McKenna In-Kind Donors John Kelleher Nick Longo Colleen McMorrow & Contributors David Masotti Erin Lynch Patrick Meneley Ernst & Young Susan McGill Jacquie Labatt Nadir Mohamed MaRS Discovery District Francis Shen Nancy Lockhart Pierre Morrissette Rogers Communications Kevin Sullivan Raymond Luk Ramana Nanda Osler, Hoskin & Harcourt LLP Mark Zimmerman David Naylor

NATIONAL PARTNERS founding academic PARTNER academic PARTNERS

17 Annual Report 2011 who is involved

" The Next 36 gives young Canadian entrepreneurs all the tools they need to have an impact on the global stage. You won’t find this mix of executive-level mentorship, top instruction and resources anywhere else in the world. "

- Kunal Gupta, CEO, Polar Mobile

Jonathan Rose Erin Lynch Staff Audit Rick Spence Elizabeth Lyons Claudia Hepburn Committee Ilse Treurnicht Nancy Mathis Dray Perenic Price James Tucker Ron Moore Joe Canavan Christian Catalini W. Galen Weston Stephen Murdoch Patrick Meneley Annick Dufort Joseph Wilson Van-Khanh Nguyen Mark Wiseman Jon French Mark Wiseman Mugur Padure Gillian Nation Jon Worren Adam Panasiewicz Andre Perey Application Jonathan Polak Judges Shane Pounder Felicia Christine Predie Jennifer Aiello Michael Reitsma James Appleyard Irina Richter Barry Bisson Brad Ross Brendan Calder Anna Shynlova Olga Chernykh Robert Sinclair Jason Cooper David Smith Richard Costely White Andrew Stronach Stephen Couchman James Tucker J.F. Courville Andrew Willis Brian Cuff Kegan Winters Malkin Dare Jason Farris Joel Feldberg Selection Denise Figueiredo Weekend Randy Gladman Volunteers Douglas Grant Christian Catalini Amy Harder Melissa Holoday Bruno Hentschel Naeem Lakhani Dennis Hewko Elizabeth Lyons Tim Hockey Gillian Nation Jason Robert Kenney Adam Panasiewicz Michael Kuhlmann Mugur Pudure Naeem Lakhani Rob Sinclair Sonya Lockyer Ronald Tsang Phipps Lounsbery Jennifer Turliuk Special thanks to The BrainStorm Group for their generous support in making this Charitable registration number: Annual Report possible 81518 8403 RR0001 and for their continued (Effective September 1, 2011) commitment to the program. Photography: Jacquie Labatt/Martha Fisher, Andre Van Vugt

Annual Report 2011 18

The Next 36: Canada’s Entrepreneurial Leadership Initiative 130 Bloor Street West, Suite 702 • Toronto, ON, M5S 1N5 • 647.259.8943 • thenext36.ca