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Canadian Startup Scene Proposes to Turn Up the Good While Simultaneously Turning Down the Suck

July 17, 2008  |  Michael Parkatti |  

Firstly, I hope you all get my title’s reference to the classic Canadian Film FUBAR.

Secondly, I hope you’ve read Jevon’s post How Startups Will Save Venture Capital in Canada on StartupNorth.

Here’s a newsflash — mindset matters.  Too many Canadian startups have had a mindset that they don’t belong in the upper echelon of new ventures.  I’d also hazard a guess that some Canadian VC’s have had a mindset that Canadian entrepreneurs aren’t quite ready for primetime.

Jevon’s call to arms is a good way to start reversing inertia.  Once we break those bonds of sophomoric defeatism, the energy will build on itself.

But we also need to Get Real.  Let’s build products people want, and will pay for.  It’s way too easy for entrepreneurs to make something in isolation, wait for fame and riches, and be dispondant when they get no Venture Capital.  Seriously, nobody cares that you’re making a social network for owners of the ColecoVision 1982 gaming console.

There are smart entrepreneurs in Canada.  I’ve met them.  I talk to them regularly.  What is everyone waiting for: a venture capitalist Santa Christ to rain down term sheets and substantiate ludicrous business models?

So here’s our challenge, Canadian entrepreneurs of the world.

  1. Brainstorm products that you could actually sell to someone
  2. Talk to people and potential customers about your ideas
  3. Decide on one that sounds reasonable
  4. Make a prototype and write a quick pitch deck
  5. Contact investors who will take you seriously
  6. Make it
  7. Sell it
  8. Sell more
  9. IPO
  10. Use your riches to invent a new flavour of ice cream for your private consumption

Let’s create things… let’s unleash new ideas… and let’s not be shy about it.  Entrepreneurs: investors WANT to hear your pitches.  They want to know how you’re going to make something sweet.  They are on your side.

Investors: Take a chance on some new faces who have all the hunger and ambition that brought you your success.  After all, it’s the young entrepreneurs that drive the economy over the long term.

This is our civic duty.  New Ventures create wealth, which begets jobs, which beget happiness.  This isn’t rocket science.

Mike and I are founding a technology company to do just that.  And I, for one, would love to be able to do it in Canada.

So … who’s coming with me … :) ?

2 Responses to “Canadian Startup Scene Proposes to Turn Up the Good While Simultaneously Turning Down the Suck”

  1. Tim Ramsey Says:
    July 17th, 2008 at 12:37 pm

    I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog.

    Tim Ramsey

  2. DaveO Says:
    July 18th, 2008 at 12:47 pm

    I think the self-deprecating nature of many Canadians (and techies in general who haven’t played in the big business world), lends to an attitude that “we can’t really compete in the big pond” but i suggest that this doesn’t need to be the prevailing attitude.

    If you have a real plan, and confidence in your plan, then you have the primary tools which the VCs seek.

    Thus, smart entrepreneurs should concentrate on creating excellent ideas, accompanied by a solid plan to bring the excellent idea to market, and become financially sustainable.

    Then convincing the VCs are relatively straight-forward. In making your plan, you may find you don’t really need them - or need then less than you initially thought. Remember the more you take, the more you give up.

    Huzzah for Canadian innovation!

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