AC News – Page 3

May 15, 2016

Paul Salvini on the future of innovation and TheNEXT10

The Accelerator Centre’s CEO reflects on what it takes to build a truly innovative business

What do a successful startup and a Hollywood blockbuster have in common? According to Accelerator Centre CEO, Dr. Paul Salvini, each one is a blend of business, technology and creativity — and the best businesses can do all three very, very well.

“Innovation happens in every part of an organization. People often don’t understand why an innovative business model can be as important as anything else. For instance, if you look at a company like Uber, there’s technology involved, but the real innovation is the customer experience.”

His philosophy of uniting varying disciplines is grounded in his own life experience. If you had asked a young Paul Salvini what he wanted to be when he grew up, he would have said a photojournalist. However, as a summer student at small, local newspaper, he developed a program to help simplify the sizing process for images.

Building on his strengths in programming, he went on to earn a BMath in computer science from the University of Waterloo and MASc and PhD in engineering (computer simulation) from the University of Toronto. In order to balance his technical background with formal business knowledge, he also completed an MBA from the University of Toronto Rotman School of Business.

Whether by serendipity or intent, he managed maintain a connection to visual arts in his professional career as he guided innovation as CTO at Toronto-based Side Effects Software, makers of Academy Award-winning 3-D animation and visual effects software, and Waterloo-based Christie Digital, provider of world-leading digital projection and display technologies.

As Accelerator Centre CEO, a role he assumed in 2014, he now combines his business experience, technical background and 23 years of teaching, first at Ryerson University then the University of Toronto. He will leverage these skills as he helps further the organization’s vision to develop strong, scalable, globally competitive and potentially disruptive businesses.

“In the next 10 years, we will focus on helping to build holistic companies. The future isn’t just about interesting technologies, it’s about building strong businesses that innovate across all areas of operation from product development and market validation to growth strategy and culture creation.”

A cornerstone of this philosophy is the AC Momentum Program, targeted at early-stage companies in the process of identifying their business strategies. With the opening of the Reactor Space in August, 2015, the Accelerator Centre now has space to welcome an additional 30 companies into the program.

“There’s a rich ecosystem of entrepreneurship in the Region of Waterloo. As a whole, we need to work on enhancing this environment so that entrepreneurs can think and dream even more boldly.”

Bio

Family: He and his wife, Julia, have two children, Lindsay and Kai. The family pet is Penny a petite golden doodle.

Wishes he could have lunch with: Walt Disney

Best business book: Creativity Inc. by Pixar CEO, Ed Catmull

Who he admires: Anyone with a clarity of vision for what they define as success and who has worked hard to achieve it.

Three things people don’t know:

He’s a licensed, instrument-rated, commercial pilot with an interest in aerial photography.
He’s a devoted hockey dad and unofficial team photographer.
He also owns a Ducati

May 13, 2016

Armen Bakirtzian of Intellijoint looks back on the journey from Startup to Scale-up

For most people, hip replacement isn’t something that crosses your mind until later in life. But for Armen Bakirtzian and co-founders, Andre Hladio and Richard Fanson, developing a solution to help improve the outcomes of these surgeries became a launchpad for starting their company, Intellijoint Surgical Inc.

Together they presented their idea and won the pitch competition at the 2010 Ontario’s Next Top Young Entrepreneur Pitch Competition. That same year they were welcomed to the Accelerator Centre.

Looking back, Armen Bakirtzian, now CEO at Intellijoint, notes that when he and his co-founders first walked into the AC, they were all grinning ear-to-ear. After working in their basements, garages, kitchen tables or any space they could find, having an actual office gave them a tremendous boost in confidence and focus.

“It was an incredible experience. We met great people, got inducted into the ecosystem and took advantage of all the resources. To this day, we all feel that it was one of the best decisions we made.”

He added that as technical co-founders, they came into the program only having the experience of working on a school project. They hadn’t hired anyone or gone through any of the steps of establishing formalized business practices. However, they’ve come a long way since then.

On the day we spoke with Armen, Intellijoint was moving into a larger office. While staying in their current location, they were more than doubling their space. Since graduating from the AC in June, 2014 they’ve gone on to receive nearly $550,000 in FedDev investment.

Their flagship product, intellijoint HIP™, a surgical tool designed to enable orthopaedic surgeons to more effectively meet their surgical objectives and improve patient outcomes, earned them the 2015 North American Frost & Sullivan Award for Enabling Technology Leadership.

They’ve made significant inroads in the Canadian and American markets and they recently entered into a strategic partnership that will provide access to the Australian market.

With success, comes responsibility. Rising to the occasion, Intellijoint is dedicated to remaining in Waterloo Region. Armen firmly states, “Our focus to build ourselves here, to draw talent here and give back to the ecosystem — it all ties back to our time at the AC.”

THE RUNDOWN

Family: He is married to Garod Bakirtzian.

Business hero: His father.

Person he’d like to have lunch with: Carey Price

Guilty pleasure: Nutella

The best piece of advice you’ve ever received: If you’re going to fail, fail quickly and move on to something else.

Three things most people don’t know:

He’s from Quebec.
He has a scuba diving license.
He’s a godfather. (The mentoring kind, not the mafia kind.)

May 10, 2016

Matt Stevens of FleetCarma talks lessons in technology and leadership

How AC Grad FleetCarma is charging ahead with electric vehicles

It’s not easy to get in the front door at the FleetCarma, (formerly CrossChasm), offices. Seriously, the front door is really hard to find. But that’s okay, because their primary focus isn’t foot traffic anyhow. And they’re working on some big changes inside.

The Accelerator Centre Graduate, and recent recipient of $430,000 from the Sustainable Development Technology Canada’s (SDTC) SD Tech Fund™, has just made a major strategic pivot. With the electric vehicle industry at a tipping point, they have decided to focus on developing solutions targeted at overcoming the challenges of buying and operating electric vehicles, especially in fleets.

While it’s a complete change from consulting with manufacturers to design and prototype next-generation electric vehicles, they feel it’s a move in the right direction. Now that more electric vehicles are being made, people need the tools to help make the most of this technology.

In the midst of all these transitions, we caught up with CEO, Matt Stevens to discuss the AC’s 10^th Anniversary and reflect on his time as one of the first 10 companies to participate in the newly created development and commercialization program.

Matt became interested in electric vehicles during his time at the University of Waterloo, where he earned a PhD in engineering. He met his co-founders in the University of Waterloo Alternative Fuels Team (UWAFT) when they participated in a smart car challenge developing a hybrid fuel cell for the Chevy Equinox. Even better, they won!

After graduation, mentor John Bell referred Matt and his colleagues to the Accelerator Centre in 2007. Upon entering the program, he recalls that he got a huge lesson in humility. “Going in, I thought that good technology was 90% of the equation. In reality, it was more like 5%.”

To demonstrate this point of the role of technology on its own, he provided this visual.

He also learned that “As the CEO, you’re not the quarterback or the coach, you’re probably the general manager. Your job is to put the right people in the right places and get out of the way.”

According to Matt, one of the most influential aspects of their time at the AC was working with the in-house mentors. They helped him and his company in the areas that needed the most attention, like sales and marketing as well as public relations.

Since graduating in 2011, they have participated in the development of many electric vehicles, including a stealth snowmobile and mining equipment. Due to the length of the development timeline, the world will continue to see vehicles they helped design well into 2020. But, with FleetCarma’s new focus on helping industries adapt their fleets, we will also see more of these vehicles in real-world applications.

THE RUNDOWN

Family: He and his wife, Amanda, have a 17-month-old daughter, Blake and will welcome a second daughter in May.

Business hero: Seth Godin

Person he’d like to have lunch with: His daughter, Blake

Guilty pleasure: Peanut M&Ms

The best piece of advice you’ve ever received: Build a not-to-do list.

Things most people don’t know:

He was one of three kids to help at the groundbreaking of the Canadian Tire Centre.
He still plays hockey.
As a kid he rode dirt bikes and had a special talent for landing in rivers.

May 2, 2016

Racing the Dream

How AC Client HH Development is making Formula 1 Racing into a data driven sport

J.M. Barrie, author of Peter Pan, wrote, “Nothing is really work unless you would rather be doing something else.” For some this might seem like a flight of fancy. For others, like Andrew Hall, Director at HH Development, it’s a way of life.

He’s been fascinated by motorsports since he was a child. Now, through his company’s acceptance into the Accelerator Centre in September, 2015, his day job is his dream job.

HH Development currently has two business models. The first, HH Timing, provides endurance racing teams a consistent, accurate and graphical way to track metrics, like speed, fuel consumption and even the number of pit stops — details that matter when tenths of a second stand between a victory lap or going back to the drawing board.

The second, yet to be named venture, is a two-pronged system of inventory management and performance tracking that they are currently developing for a major European tire manufacturer. Through the use of an RFID device, it can track a shipment of tires from delivery through to how each tire performed during the race.

Commenting on his Accelerator Centre experience so far, Andrew states, “It’s like I’m going to business school. But, instead of doing case studies on imaginary companies, when I graduate, I’ll have my own business.”

With a PhD in Systems Engineering from the University of Waterloo and Bachelor of Aerospace Electronics and Systems Engineering from Carleton University, Andrew is rightfully confident in his technical abilities.

However, he noted that even the process of applying to the Accelerator Centre was educational. “We literally didn’t know what we didn’t know about our business. Rightly or wrongly, we hadn’t made the time to develop a comprehensive business plan.”

During their first month in the program, the lessons that the members of HH Development learned were transformative. Andrew credits mentors Kevin Elop, Steven Fyke, Kevin Hood and Bob Rushby with helping his company evolve from operating in a young, ad hoc manner to adopting more more mature and viable processes, “We looked at our structure, our finances, our markets and basically everything.”

Recently when Kevin Hood stopped Andrew to ask why they hadn’t sat down to talk in awhile, Andrew answered, “Because I’m still addressing all of the things you opened our eyes to in our last meeting.”

Where would he like to be 10 years from now? He’d like to doing exactly what he’s doing right now, but on a larger scale, serving more clients. “We love what we do and we’ve only just gotten started.”

The Rundown

Business philosophy: There’s no substitute for the value of hard work.

Business heroes: All of the AC mentors.

Person he’d most like to have lunch with: Any of his clients or colleagues.

Things most people don’t know:

His attempted career as a racecar driver was woefully short-lived.
He’s lived in four countries (Canada, England, Austria and the United States).
He’s terrified of flying.

April 27, 2016

Kevin Hood: Behind The Scenes with the AC’s First Mentor

Think great ideas sell themselves? Think again!

On any given day, you’re likely to see Kevin Hood, the Accelerator Centre’s first and longest-serving mentor, holding court on the subject of sales and marketing at a corner table in the networking area.

After one just one meeting, many clients say that their time spent with Kevin was a game changer. They also say that learned more from him in one hour than they would have learned after months on their own.

In light of the AC’s upcoming 10 Year Anniversary, we asked Kevin if he’s seen any shift in the primary needs of clients. His answer: “No.”

“The fundamental problem is that many companies focus on product, but not market. You can have one of the most brilliant ideas in the world — but, if there’s no clear need or demand, who will you sell it to?” he explains.

When you sit down with Kevin, it’s not long before you hear the words “framework,” “processes” and the gold standard “market validation.” His passion for rigorous methodologies and research can be seen in the AC Pathfinder process that he helped to develop.

How did he become the first AC Mentor? It began with a series of well-received sales workshops he helped develop and present at Communitech. One thing led to another and he was asked to bring the workshop at the AC.

After the sessions, Accelerator Centre clients began telling the management team that they needed to sit down, one-on-one, with Kevin. Over time, a few hours a week became a few days a week, eventually evolving into the formalized team of in-house mentors that exists today.

But it’s not just the training tools he’s established that define his business acumen and entrepreneurial spirit. Fresh out of university, he shocked family and friends when he turned down a great marketing job at major beer manufacturer. His reason: He knew he didn’t want to work there before he had a chance to explore what the market had to offer.

Not long after he began a series of roles as assistant to a Member of Parliament, the Minister of Science and Technology, and Minister of the Environment. In these roles he worked with constituents and members of the business community to ensure great government relations.

When he left Parliament Hill, he headed to Toronto where he helped found a sports marketing firm with the goal of creating a second professional hockey league in Canada using retired high profile NHL players. Although the league was ultimately not meant to be, a series of fortunate introductions led him to become an expert in helping businesses identify top performers.

He established his own consulting firm, Market Access Corporation, and in conjunction with the Self-Management Group, he developed a psychometric online personality profile that helped individuals understand their entrepreneurial and sales traits. Seizing the new opportunity that the internet presented in the 90s, he was able to secure software profile licenses with several high profile clients, including a major international career management organization and one of the largest American insurance companies.

Today, in addition to managing his company and his mentorship role, he is also a lecturer in the Masters in Business Entrepreneurship and Technology (MBET) program at the Conrad Centre for Business, Entrepreneurship and Technology at the University of Waterloo.

What keeps him going? He loves what he does.

Why has he made the table right by the front door his unofficial office? “I sit at that table so that clients will have to see me. They have to walk right by me and be accountable for the marketing and sales goals and commitments they’ve set. And I will stare them down.” he says knowingly with a smile and without apology. “We have to focus on growing great businesses and that means we have to focus on revenue!”.

An AC mentor since 2008, he has logged more than 10,000 hours and assisted over 200 companies. Looking forward to helping many more, he quips, “That’s the thing about mentoring, you get better at it over time.”

The Rundown

Family: Married with two daughters ages 19 and 22

Sales experience: 30+ years

Business hero: His Uncle Owen – a very successful businessman

Person he’d like to have lunch with: Richard Branson

Things most people don’t know:

His father is legendary NHL referee Bruce Hood.
He once came very close to founding a second professional hockey league.
He still knows his way around a pair of hockey skates playing several times a week.

April 26, 2016

Former AC CEO Tim Jackson to lead prestigious national program SHAD

STEAM based summer youth program fosters youth innovation and entrepreneurship

WATERLOO, Ont. – As a technology entrepreneur in the late 1990’s, Tim Jackson was one of the leaders who put Waterloo on the map as it became known as Canada’s Silicon Valley.

More recently, he has been Executive Vice President at the MaRS Discovery District in Toronto, one of the world’s largest urban innovation hubs. At MaRS, through the Centre for Impact Investing, he encouraged foundations to invest millions of dollars in a novel way to tackle social problems aligned with their charitable objectives.

Now, Tim Jackson has his sights set on making more people in Canada familiar with four letters they may not know: SHAD.
He says it is crucial that exceptional youth are given the support they need to reach their full potential especially if Canada wants to be a leader when it comes to innovation and entrepreneurship.

The 2015 Global Innovation Index report ranked Canada 16th in terms of global innovation.
That’s why Jackson is joining SHAD as its new CEO and President starting in July.

“SHAD is like walking into a room and turning on a giant light for the whole country. By transforming these youth through the SHAD program, it makes Canada’s future brighter.”

“Tim is the perfect leader to take us forward from the strong position we currently have,” says David Hay, Chair of SHAD’s Board of Directors.
Hay adds, “Tim’s great passion for entrepreneurship combined with his belief that Canada’s youth are well positioned to tackle some of the world’s biggest problems will ensure that we take SHAD to a new level, making it a household name across Canada.”

SHAD is a unique not for profit organization that serves as an incubator for innovation and entrepreneurship for Canada’s best and brightest students while they are still in high school. Its focus is to empower youth to become change makers and global leaders.

The list of SHAD Fellows include a serial entrepreneur and Dragon on CBC’s Dragons’ Den, a NASA researcher trying to help humans get to Mars, a world leading stem cell researcher, a top NHL executive, an international best-selling author and many other leaders.

“Despite an amazing 35 year track record, SHAD has been one of Canada’s best kept secrets,” Jackson says.

He notes with Canada now focused on youth innovation and entrepreneurship to help fuel the new economy, SHAD is where it all begins.

Top students from around the country apply for coveted positions to take part in SHAD which is hosted at 12 different university campuses. The students are immersed in an intense one month enrichment program in July focused on STEAM subjects: science, technology, engineering, arts and math.

In one of the more unique elements at SHAD, students are presented with a theme or global challenge every summer. They collaborate in small groups using their different skills and expertise to devise an original product or service that addresses this real world, complex issue. In the process, they are taught how to build a business plan, marketing plan and a working prototype under tight deadlines and facing difficult odds.

SHAD Fellows build connections for life and become part of the SHAD network which includes 30 Rhodes Scholars, and leaders in many fields.
“We are putting our top youth at risk if we don’t invest in them with programs such as SHAD,” Jackson says. He adds, “You look at our athletes. We invest in them early and give them a support network so they can be world beaters. We have to do the same for our best and brightest young minds.”

Jackson takes over as President of SHAD at a good time. SHAD has had a record number of applications for the past two years. Barry Bisson helped SHAD become one of Canada’s premier programs fostering youth innovation and entrepreneurship and is retiring after 11 years as President.

“We thank Barry for his amazing commitment to SHAD for more than 30 years,” SHAD Chair David Hay says.
He adds, “Barry became a big believer in SHAD ever since he started the program at the University of New Brunswick in 1985 and saw the impact it had on youth first hand.”

Jackson was one of the senior executives of PixStream, a leading Waterloo technology company in the late 1990’s which helped spur on the careers of many other entrepreneurs in the Waterloo region. Following that, Jackson co-founded a venture capital firm that invested in numerous startup companies. He later served as CEO of the Accelerator Centre, a startup incubator in Waterloo. He has served as a mentor for many individuals and companies because of his understanding of the obstacles, and the failures involved in creating successful ventures. He also spent several years in executive roles with the University of Waterloo.

April 20, 2016

Stanley Cup Winner and Olympic Gold Medalist Theo Fleury partners with startup MyProHero

By Ellyn Winters-Robinson

What do great hockey players and entrepreneurs have in common?

Good values, hard work, and a determination to be the best you can be, says Stanley Cup winner and Olympic Gold Medalist Theo Fleury.

Fleury spoke to a captive crowd of fans, startup executives and students who gathered at the Accelerator Centre to meet and learn at the hand of an NHL legend. Fleury’s visit to the AC was coordinated by AC startup MyProHero, a company that offers young and up and coming players the opportunity connect online for virtual coaching delivered by former NHLers.

Fleury was himself starstruck by the incubator’s graduate wall and startup clients. “I’m a huge tech geek myself and here I am standing in Canada’s tech heartland. It is amazing to be among such smart people,” he said.

During his remarks, Fleury reflected on his career in the NHL and his experience winning Gold for Canada the 2002 Salt Lake City Olympic games — Canada’s first gold in hockey in 52 years — playing along fellow legends such as Mario Lemieux and Steve Yzerman. “I have to admit, I looked to my left, looked to my right and couldn’t believe I was there amongst these players. It was one of the most amazing experiences of my life, and something I could never even have dreamed of playing road hockey as a kid in Saskatchewan.”

Now a celebrated author, Theo Fleury brings his motivational coaching and candid outlook on life’s challenges to thousands of players, parents and other members of the hockey community every year. His best selling autobiography Playing with Fire, documents the star’s struggles with drug and alcohol addictions and survival after childhood trauma.

Fleury will use the MyProHero platform to deliver his motivational coaching to an even wider audience. To learn more about the MyProHero platform and it’s amazing coaching roster including Theo Fleury, six time Stanley Cup winner Bryan Trottier, Hall of Fame inductee Adam Oates and others, check out www.myprohero.com

April 19, 2016

The AC Turns 10!

Join us as we celebrate a decade of building incredible businesses

We invite you to celebrate this milestone with us at a special open house event with His Excellency the Right Honourable David Johnston, Governor General of Canada, who was founding patron of the Accelerator Centre when he was president and vice-chancellor of the University of Waterloo.

REGISTER

Over the past ten years the Accelerator Centre has supported more than 200 companies, worked with hundreds of entrepreneurs and graduated 51 of Waterloo Region’s most innovative and successful technology companies. It’s a legacy we’re extremely proud of, and we’re just getting started.

Join us as we celebrate 10 years of success and look ahead to theNEXT10!

April 18, 2016

AC proud to support green initiatives recognized by Sustainable Waterloo

Waterloo, Ontario, April 14^th, 2016 – The David Johnston Research + Technology Park (R+T Park) University of Waterloo and tenants have come together and committed to a Greenhouse Gas (GHG) reduction target through Sustainable Waterloo Region’s (SWR) Regional Carbon Initiative Program (RCI). Using 2014 numbers as our baseline, a 10 year and 40% reduction goal was set by the R+T Park building owners and tenants. Through all the hard work and commitment towards this initiative, the R+T Park and its tenants have been nominated for the ‘Rookie of the Year’ award.

The Accelerator Centre is proud to have had staff members Laura Mason and Emily Jackson involved in making this happen.

The Rookie of the Year award is designed to recognize the most active, committed and ambitious member of the Regional Carbon Initiative. Some criteria for this award included: attending events run by Sustainable Waterloo, sharing information with other members and measuring your progress and reducing GHG emissions. The R+T Park’s Green Team has exceeded all of these criteria, making them an excellent recipient for the ‘Rookie of the Year’ award.

The park is leading by example. Striving to be both a leader in the community and impactful in future building practices, the R+T Park Green team sets examples by not only raising awareness on the emission of greenhouse gasses but implementing strategic practices that can be implemented in day to day operations.

The R+T Park Green Team is comprised of representatives from the companies, building owners and building management. Companies such as Cora Group, Marsland Centre, DREAM Office REIT, University of Waterloo, AGFA, SAP, Open Text, Stantec, TextNow, Navtech, Accelerator Centre, and more… today 70+ companies and approx. 3,100 knowledge workers call the park home. “As a new tenant of the R+T Park, being a part of a broader Green Team has helped us clarify our own sustainability objectives and aligns with our core values at Stantec.” Explains Gizem Gunal-Akgol, Atmospheric Engineer at Stantec. “We are grateful to be recognized for doing what’s right for the environment.”

The R+T Park is extremely proud to receive this recognition for our efforts and each Green Team member will be sharing this with their colleagues and internal sustainability groups.

March 22, 2016

Excited to Partner with Bereskin & Parr for New Business and IP Initiative

The Accelerator Centre is pleased to announce it has entered into a new partnership with Bereskin & Parr, a leading Canadian intellectual property law firm. The AC is dedicated to commercializing research and developing globally competitive businesses. The partnership aims to provide businesses with strategic intellectual property (“IP”) information and legal services required to grow their companies in Canada and abroad.

“We are very excited to be involved with the Accelerator Centre,” says Jason Hynes, partner with Bereskin & Parr. “We are looking forward to working with companies at an earlier stage and helping to develop the necessary IP foundation to assist them long-term.”

Bereskin & Parr works extensively with current Accelerator Centre Clients and Graduates. The firm plans to expand these relationships and assist clients to develop their business by providing IP education and one-on-one consultations.

“The Accelerator Centre has some of the most innovative and promising companies in the country,” says Jim Hinton, associate with Bereskin & Parr. “This new initiative allows us to be at the forefront of Waterloo’s technology scene while helping innovators strategically use their IP as they commercialize and grow.”

“We’re excited about this partnership and the opportunity it presents for our Clients,” says Paul Salvini, the Accelerator Centre’s CEO. “Helping the companies we work with to develop and protect intellectual property is a core part of our program and a critical component in their business success.”

Bereskin & Parr is proud to partner with a dedicated business resource in its ongoing mission to provide world-leading IP law services and expertise to build strong relationships with clients, firms, researchers and educators.