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Techstars Startup Digest Toronto - 3 new ways to grow Toronto tech

Good morning, Toronto startups and entrepreneurs! This city — and Canada as a whole — is fast-becomin
Issue #10  •  July 27  •  View online  •  Suggest a link to us
Techstars Startup Digest Toronto
Techstars Startup Digest Toronto
Locally curated talks, workshops, and other events for those interested in creating a startup, growing one, or who want to connect with startups in the Greater Toronto Area.
Good morning, Toronto startups and entrepreneurs! This city — and Canada as a whole — is fast-becoming an innovation hub. This past week saw news from three initiatives intent on growing that momentum.
Last week, MaRS announced a program to grow some of Canada’s high-potential companies into global powerhouses. Their new Momentum portfolio — funded by FedDev Ontario — consists of Canadian multi-sector companies on their way to reaching $100 million in revenue within five years. Today these companies earn a combined $900 million and employ some 6000 people. The hope is to grow the portfolio by 20% per year and create 9000 new jobs by 2025. Some Toronto ventures include Borrowell, Ecobee, League, and Nulogy.
Also last week, the City of Toronto committed $250K to help expand Ryerson DMZ’s Black Innovation Fellowship. The program is dedicated to supporting Black entrepreneurs in Toronto’s tech-driven innovation sector. The funding from the City and others will “help the DMZ recruit more senior Black executives as mentors, attract more Black talent to run the BIF program, and distribute grant funds to high-potential BIF startups.” Thanks to donations like these, the DMZ is closer to its $1M fundraising goal.
Lastly, you may have caught Clearbanc’s release of Valuation, a free tool that lets startup founders know how much their company is worth. It’s the brainchild of Michele Romanow, Clearbanc co-founder and president, who got the idea from her six years on Dragon’s Den. Valuation uses AI and its extensive data infrastructure “to analyze a company’s position in the market, revenue trajectory, and potential for growth alongside competitors in the vertical.” Once they receive their report, founders can choose to “access growth capital, connect with investors to explore raising venture capital; meet buyers to explore selling the business; and take additional funding through Clearbanc’s 20-minute term sheet if they qualify.”
Community Opportunities
Here are some upcoming deadlines for applying to accelerators, grants and funding, or other competitions. Don’t miss out! If you know of others, please submit any application deadlines and I’ll post them if they’re relevant.
As a national video series, Startup & Slay Digital aims to raise the profile and visibility of women business owners of colour or racialized women, persons with disabilities, Indigenous women, those who identify as members of the LGBTQ+ community, or those who come from an immigrant or refugee background. This year’s program is online. Startup & Slay is now taking applications for 2020. Selected 2020 honourees will share their stories through virtual meetups and engage with an even larger audience.
Calling all leaders and innovators! The York Entrepreneurship Development Institute (YEDI) is now accepting applications for its Fall 2020 Incubator Program. Receive extensive education, ongoing mentorship and the chance to showcase your venture to industry representatives. YEDI’s Incubator Program is the perfect way to transform your venture from an idea to a reality.
Intuit Canada and Toronto’s Highline Beta have joined forces for the Intuit Prosperity Accelerator. They’re primarily looking for companies making an immediate impact on small businesses and consumers’ most pressing challenges post-COVID-19. Seed stage tech startups with a product in market are preferred, but businesses of all stages — including pre-seed and ideation — are welcome.

Have a great week, and stay well!
Ian.

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Monday
The world’s largest technology companies possess the resources, runway, and R&D infrastructure to tackle many problems. And yet fledgling startups sometimes manage to develop products that capture a market and change the world. What’s the secret to the tech-world version of David beating Goliath? The answer: using innovation as a competitive advantage. Learn how leaders leverage innovation to take their companies to the next level.
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Tuesday
Learn more about the challenges and opportunities with scaling innovation in a quickly changing world. With normal practices out the window, companies are focusing their attention on survivability and liquidity. And yet, difficult times always present new openings for clear-thinking entrepreneurs. Each week, we’ll discuss how you can take advantage. 

The Canada Revenue Agency’s Tax Relief Info Session will cover tax measures that were initiated as a result of COVID-19 to provide support for individuals and small business owners. In particular, it will provide an overview of the income, subsidy, and loan programs such as the Canada Emergency Response Benefit (CERB), the Canada Emergency Wage Subsidy (CEWS), and the Canada Emergency Business Account (CEBA).

This discussion is meant to help you establish a strong legal structure for your startup off the bat. As we explore critical contracts for your business, attendees will also get the chance to ask their questions directly to our lawyer and have them answered in a group format for all to learn from.

Wednesday
Entrepreneurship Connections helps newcomers who plan to start a business in Canada. If you have owned or operated a business outside Canada, or would like to launch one here, this innovative and informative program will assist you with setting up a successful small business in the Canadian market. Join us to learn more about the program!
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A deep dive into Customer Acquisition Cost & Lifetime Value (CAC:LTV). In this webinar, we will discuss: Why CAC:LTV is important; Cover some examples and few interesting cases; Jump into how to calculate CAC via 2 methods (top-down versus bottoms-up / unit sales basis); Learn how to calculate LTV via 3 methods (formula, cumulative revenue retention and NPV methods).

The Entrepreneur First Toronto team is hosting a virtual open office for the next generation of founders. We’ll be having conversations about: Why entrepreneurship is the career path to scale your ambition; What we look for in future founders; Applying to EF & the admissions process; What the programme looks like in detail.

This month’s MASTERCLASS will focus on building resilience as an entrepreneur - especially during the current COVID-19 pandemic. During this class you will learn: The meaning of resilience and why it is a valuable trait for entrepreneurs; How to create a self-care plan for yourself as a founder; How to create a contingency plan for your business or career.

Friday
Discover the untold stories about successful fundraising rounds, with firsthand accounts from the people in the room. In each episode, you’ll hear from each side — the founder and the investor — about the process of closing a deal. You’ll also learn more about the ongoing relationships that drive businesses forward. Each week, TechTO’s Alex Norman interviews buzzworthy founders and investors.
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Techstars Startup Digest Techstars Startup Digest Toronto is curated by:
Ian Stevens Ian Stevens - https://ianstevens.ca/
ian.stevens@startupdigestmail.com
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