Geoff Simonett

Behind the scenes at #Elevate2024 - speaking at the biggest tech conference in Canada re: #VentureCapital investing in deep-tech. Joined by Janet Bannister (Staircase Ventures), Eva Lau (Two Small Fish Ventures), Chris Neumann (Panache Ventures), we covered: - what types of companies are exciting to VCs (hint: moonshots), - specialist vs. generalist VC funds (founders: while it’s wonderful to meet a specialist VC that knows your domain really well, that is currently the exception, not the norm - so the art of telling your story to a broader investor base is crucial) - how VCs construct their portfolio to meet LP expectations (as a founder, you need to understand what motivates the investors you’re interacting with) Glad Creative Destruction Lab assembled this epic panel on the Moonshots stage ! Elevate Sonia Sennik #FutureTech #Innovation #IOV

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Great discussion. I’ve been blessed to live a couple transformative movements as well. At Acorn we’re focusing on how can we apply AI to specific use cases. Not marketing slogans and lingo. So no, we won’t change our URL to .ai and we won’t confuse our customers. AI is a tool that will solve problems for our users and when they ask how we’ll share the tools we use to build the solutions they like. Our view is that if we do this the trends won’t matter.

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Such a great blog post which I suggest every founder read. So many golden nuggets in here. But one that stands out: What are some qualities that you see in the most successful founders? Well, I love smart people, with high IQs, and high EQs, that’s great. But, of the founders that I see, the highest correlation with success is with their grit quotient. They’re not necessarily the smartest people in the world, but their grit and determination are unbelievable. They never give up and always find a way to blast through any obstacle they face. It’s the mentality of “succeed or die” – it’s that kind of determination that wins. #gritcotient #grit #founder #highperformancemindset

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Light AI (ALGO:CBOE) has begun trading, presenting a promising future as it positions itself as a leader in AI-based healthcare technology. $30M CAD invested since 2016, the company’s proprietary algorithm boasts 97% accuracy in diagnosing viral or bacterial throat infections, addressing a global healthcare challenge: antibiotic resistance. The leadership team includes AI veteran CEO Peter Whitehead and prominent advisors like the former CIO of Johnson & Johnson, Tom Scarnecchia, and Emmanuel Blin, a healthcare distribution innovator in low-to-middle-income countries (LMICs). Light AI's disruptive technology aims to modernize diagnostics in LMICs, reducing the misuse of antibiotics. With a total of $26.5M CAD raised in private and RTO rounds and a marketing budget of over $3.5M, the company is poised to capitalize on the booming AI sector, which has seen peers like Healwell and Verses achieve significant valuation growth. Light AI's innovative approach and strategic capital deployment position it for strong market traction in the coming months. I am a shareholder.

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What excites PAR Technology the most is their ongoing mission to enhance and elevate the customer experience across the board. They’ve been focused on ensuring that all of their products are designed to seamlessly integrate, creating a cohesive ecosystem for their clients. Data plays a pivotal role in their strategy—PAR is committed to not only providing easy access to data but also offering valuable insights and actionable breakdowns that help businesses make informed decisions. This approach underpins their dedication to innovation and operational excellence. Branded Hospitality Ventures #POS #Technology #Hospitality #Marketing Hospitality Hangout Podcast Keith Pascal Tori D. Savneet Singh Dan Costello Ben Carroll Jeff Carpenter Joe Yetter Shane Gau Steven Downer Joshua Tuokkola Paul Rubin Karl Ruter

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Actionable information requires data quality and coverage. This, in turn, requires cheap access to high-quality data. And so we are launching Precept.

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5 reasons I’m in love with this website’s homepage design 💻❤️ (scroll to the bottom for a link to the website) 1. Striking Design: The homepage hero image is simply stunning. The subtle animations and sleek visuals make it not just visually appealing but downright captivating. 2. Effective Information Organization: The information tabs are brilliantly organized, making it easy to navigate and understand each component of the company’s offerings right from the homepage. 3. Dynamic Financial Metrics: The animated KPIs are a standout feature, showcasing the company’s expertise and ability to deliver tangible results in a way that’s both informative and engaging. 4. Credibility Boost: The scrolling logos of transactions add a layer of trust and credibility, clearly highlighting the company’s proven track record. 5. Efficiency at Its Best: Everything you need to know about Oberon is right there on the homepage. And if you want to dive deeper, the CTAs and linkouts are strategically placed for easy access. https://lnkd.in/gSUfCVnE 🎉 Kudos to the team and our client, Oberon Capital! Your hard work has paid off in a big way with this outstanding redesign project.

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It is often said that one person can make or break a company. Without knowing what has come to pass with Bench, I think this underlines the importance of getting the CEO pick for your startup right at the earliest possible time. It is not 'just' something you can do on the side; it takes commitment, focus and comes with great responsibility. When you get your team right from the get go, you reduce the risk of having to make significant and critical changes later on in the journey. And maybe that will help you avoid being another Bench. #startup #founder #ceo #hiring https://lnkd.in/dSayW4XT

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It seems to me that the question should be ... can incubators identify/create/support/augment exceptional companies - who cares if they are just good at supporting more average or worse yet underperforming companies - We should be focused on the exceptional outliers and the encouraging part was the note "The highest revenue-generating startups were the exception, posting slightly more than non-BAI firms, but only in 2020" but .... unfortunately those positive revenue signals might have zero to do with the incubators and everything to do with access to a capital and a willingness/ability in 2020 to spend it on revenue capital at any cost. The other problem with this kind of a study is revenue is a MEANINGLESS metric for biotech companies. How the authors measured success/impact in this segment of the market would be of interest as I suspect access to wet labs, shared equipment and facilities, and in some cases corporate strategics should be highly accretive to these kinds of companies.

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Disappointing that the The Logic didn't do a bit more homework as all sectors are not equal. This week the Business Development Bank of Canada said its venture investments in life sciences have generated an average internal return of 22.6% over the past decade, well above levels for information technology and clean technology. While IRR out-performance is nice, what is even more important is DPI. On this measure it would appear, based on CVCA and Pitchbook data, that since 2019 CDN LS companies account for more than 70% of realized distributions to limited partners invested in CDN VC funds. That is performance you can put in the bank.

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With only 1 week until our Companial Canada webinar, Dana Willmer and I are busy preparing to shock some sense into our Canadian partners. In fact, we're ready to shock all of North America if you've got the time to listen! There is an unfortunate sense of complacency happening around generative AI in the Microsoft Ecosystem, with many partners seemingly unaware (or willfully ignorant) of the impending impacts that AI will have on businesses of all sizes and shapes. Google is throttling websites in favour of AI-driven search results, which will immediately impact lead volume. Beyond that, businesses are innovating at a rate that far exceeds anything we've seen before - and that means there is someone out there using technology to out-technology you. Your current clients and new prospects will undergo a period of shiny object syndrome, leading to customer churn at unprecedented volumes. So what are you going to do? How will you skill up your resources fast enough to meet the technological changes while serving the clients you've left to languish on-premise while staying ahead of the early adopter competition? Where do you go to move forward? I'd start by joining us next Wednesday to learn more about how Companial can help you survive and thrive, because together with Companial, we're stronger than alone. Registration is still open. This webinar will benefit every partner I know, and I expect to see you there! #MicrosoftPartner #CoPilot #GenerativeAI #CloudERP #Microsoft

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We are only a few days away to PremiaBN PBN North America Summit and we have a session I truly think every diasporan in tech based in North America (#Canada, #US and #Mexico) should attend. We have leaders, or Chiefs like I like to say Beth Fatusin and Funmi Oludaiye on this session talking about trends and opportunities in big Tech. Don’t miss it. Get your tickets and register asap. Use code PBNSUMMIT www.pbnsummit.com #diaspora #community #bigtech #tech

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Canada is home to a lot of bright minds and exciting startups. Ever wonder why very few of them end up becoming world beaters? Most exciting startups get acquired or acquihired usually by a U.S entity. Our VC environment just does not have the risk appetite to fund scaling. Meanwhile the Australian government just announced a billion $ investment in PsiQuantum to bring it back home and drive quantum computing. And whats our government doing? Its increasing the capital gains tax so we can become an even more unattractive location to start and grow companies. Why would entrepreneurs risk it all if they are taxed like employees? https://lnkd.in/dra5cUP3

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Cool read about portco Vivid Machines using AI to help farmers maximize yield, reduce costs, lower emissions, and make data-driven decisions that weren’t possible a generation ago!! 🍎 🍇 🍐 🥝 From real-time tracking of tree health to optimizing harvest timing, Vivid turns farming into a precise science – helping farmers make informed decisions that improve profitability and boost efficiency. It’s awesome to see Canadian agtech driving such significant economic impact. Proud to support Jenny Lemieux and Jonathan Binas in shaping a more productive and sustainable future for farming! 🌱🚀 https://lnkd.in/e4i2NgMW #AI #agriculture #startups #venturecapital

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Ottawa is an Entrepreneurship Capital Sincere thanks to the #Techopia Team at the Ottawa Business Journal for sharing the stories of these three prolific serial entrepreneurs who continue to build thriving tech companies in our region. The impact they have achieved on our economy and ecosystem is immense. Learn why these founders choose to start and scale companies in Canada's Capital over other tech ecosystems. We are privileged to collaborate with each of them in different ways. A few of my favourite quotes... "There is a great culture here of very loyal people that enjoy working for startups. They hang in there. I think people here have a greater sense of commitment and loyalty to the projects they’re working on than in other tech ecosystems, which is a unique feature of our market.” -Mike Weider, Startup Founder, CEO, Advisor and Director of the Invest Ottawa Board "The local entrepreneurial spirit thrives. Some of that originated from the large tech companies of the past, such as Mitel and Nortel, as well as from those of the present, like Shopify, with former employees of those companies contributing to the growth of Ottawa’s tech ecosystem by spinning out several great companies." -Marc Gingras, Co-Founder and CEO, Bloks “Everything that you need to build a company exists in Ottawa. I also think it’s the best place to live. That combination is, I think, the magic that you need to thrive." -Aydin Mirzaee, Co-founder and CEO of Fellow.app Looking to learn more? Read the inspiring article below, or reach out to me to explore how our IO Venture Development team can help you achieve your startup goals and engage our amazing entrepreneurship ecosystem. #FoundersHelpingFounders

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Last week I attended NEXT Canada's Venture Reveal event, where I was fortunate to witness some of Canada's most promising startups pitch their innovative companies to an audience of investors, academics, and fellow entrepreneurs. For those unfamiliar, NEXT is a powerhouse tech incubator committed to nurturing the next wave of impactful Canadian entrepreneurs. With an impressive track record of launching unicorns, facilitating over $2B in capital raises, and supporting countless entrepreneurs in their journey to improve Canada's competitiveness, they are highly valued in the early-stage tech community. Reflecting on the event, a few key insights resonated with me: -"There will be 100 problems in a startup, the ones who end up surprising us aren't always the ones who sparkle the most. They are the ones who keep crawling through." Ajay Agrawal's perspective on the nonlinear nature of startup challenges underscores the importance of resilience and adaptability. -As John Kelleher aptly put it, "The game of building successful tech startups is a game of outliers. Every year of the 130k businesses are started, 4,000 are capable of building and securing venture funding. Of those, 200 will raise funding from a top-tier VC and only 15 will generate almost all venture returns. -Despite Canada's GDP per capita experiencing a decline of 1/2% annually since 2020, it's imperative we foster an environment that cultivates high-growth ventures. Amidst these takeaways, I'm inspired by the resilience and dedication exhibited by entrepreneurs tackling real-world problems head-on, especially amidst today's challenging climate. Special kudos to my mentees, Nicole Baranowski at Hairstrong and Matthew Stevens & Mathew Chan at Tailwind, for their commitment to bringing their innovative offerings to market. Here's to celebrating the bold visionaries shaping Canada's entrepreneurial landscape. Onward and upward!!! #CDNtech #entrepreneurship #growth

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Collaboration is at the heart of everything we do at WEtech Alliance —it’s a core value that drives our mission to strengthen and grow the innovation ecosystem. Our latest collaboration with Communitech exemplifies this commitment, bringing the Scale-Up Platform, supported by FedDev Ontario, to our region. This partnership connects high-potential founders to critical resources, fosters stronger ties between the Windsor and Waterloo tech and innovation ecosystems, and prioritizes inclusivity by supporting women and non-binary founders. We’re especially grateful to Libro Credit Union for enabling us to leverage this opportunity. Their support underscores the importance of collective efforts in driving meaningful change and advancing innovation. Innovation ecosystems are ever-evolving, and a more effective, collaborative approach is essential to driving both innovation and long-term economic impact. Read more: https://lnkd.in/gVQaS6_E Jennifer Gruber CPA,CA Matthew Klassen Avvey Peters Christina Wood Angela Larraguibel Allison Mitchell, CLC Lori Atkinson Shawn Good Liz Arkinstall Adam Castle Susy Kustra Chris Albinson Federal Economic Development Agency for Southern Ontario | Agence fédérale de ...

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Canada’s tech hubs, like Toronto, Vancouver, and Montreal, are at the heart of our innovation economy, but recent political and economic uncertainties pose significant risks. The resignation of Finance Minister Chrystia Freeland, paired with the looming threat of U.S. tariffs, highlights the urgency for policymakers to act decisively. For tech startups to thrive, a stable and competitive environment is crucial. Measures to tackle these economic challenges must prioritize fostering innovation and protecting Canada’s position as a global leader in technology. Let’s ensure that our tech ecosystem remains resilient and continues to attract talent and investment.

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