The Aboriginal Financial Institutions supported by the National Aboriginal Capital Corporations Association provide diverse opportunities for aspiring and established Indigenous entrepreneurs.

It is said that small businesses are the backbone of our economies. The Indigenous clients we support and celebrate are also the nerves that run through that spine and connect us to the lands we share and each other. Our master craftspeople weave and bead the earth into their products and costumers; Indigenous environmental monitors have served as the stewards of these lands since time immemorial; and our brands and stories are shaped by and espouse age-old traditions that are increasingly and finally being recognized under the banner of “progressive policy” such as equality of opportunity, person, and the lands that sustain us.

The National Aboriginal Capital Corporations Association (NACCA) was formed in 1997 by a collective of Aboriginal Financial Institutions (AFIs), which in turn was created to address the lack of available capital to finance Indigenous small business development. NACCA supports and promotes the network, which today includes over 50 AFIs across Canada and our nations. Our Board of Directors is 100 percent Indigenous, and all entrepreneurs supported by the AFI network are members of a First Nation, Inuit, or Métis community.

Diversifying opportunity

Our collective goal is to increase social and economic self-reliance and sustainability for Indigenous peoples and the prosperity of the Indigenous and Canadian economies. We believe that the best social program is a job. Small businesses in Canada provide 68.8 percent of the private labour force, so we can safely say that supporting Indigenous businesses will lead to large community social impact, including towards environmental, social and governance (ESG), and research is ongoing to understand its true and growing extent.

Diverse streams of funding are offered for diverse Indigenous entrepreneurs, depending on their specific needs and circumstances. All are aimed at promoting prosperous and thriving Indigenous businesses with equitable access to capital and care.

Over the past three decades, the network has provided around 50,000 loans worth over $3 billion, with a repayment rate of about 95 percent.

The Indigenous Growth Fund

The Indigenous Growth Fund (IGF) is a new $150 million investment fund that, through a network of Aboriginal Financial Institutions, provides much-needed capital to small- and medium-sized Indigenous enterprises that have historically struggled to qualify for loans through traditional banking systems.

The Fund offers institutional and social impact investors a direct vehicle to contribute to economic reconciliation and ensures that AFIs can continue to support their Indigenous clients in their communities, unlocking pent-up loan demand for new and expanding Indigenous businesses. With an open-ended fund structure, the IGF will allow AFIs to plan for the future, attract new clients and grow their existing client base.

“Indigenous businesses are hungry for capital and so many of our business owners have great potential,” says Jean Vincent, Chair of the IGF’s Board. “That’s why our network pressed for the creation of the IGF.”

Supported by current investors the Government of Canada and Business Development Bank of Canada, Export Development Canada, and Farm Credit Canada, the IGF has already begun to provide loan capital to Aboriginal Financial Institutions, which will allow them to invest in more Indigenous businesses and their unique visions. 

The Indigenous Women Entrepreneurship Program

In 2020, NACCA committed to increasing the number of Indigenous women entrepreneurs accessing financing through its AFI network by 50 percent, resulting in the launch of the new Indigenous Women Entrepreneurship (IWE) Program.

Developed in partnership with Indigenous Services Canada, the IWE program provides even further marginalized First Nations, Inuit, and Métis women with distinctions-based and targeted support, including access to dedicated Business Support Officers, workshops and training, and a new micro-loan fund. The IWE Program will help celebrate the Indigenous women making a difference in our communities, including those pursuing their entrepreneurial dreams.

“Being able to offer tailored programs and financing to Indigenous women is an important step for NACCA and the network to ensure that women have access to equitable services,” says IWE Team Lead Magnolia Perron. “Our hope is that we can continue to offer this new program for generations to come.”

The Aboriginal Entrepreneurship Program

The Aboriginal Entrepreneurship Program (AEP) promotes entrepreneurship in Indigenous communities and increases the number of viable Indigenous businesses. NACCA administers the program and distributes the funding through its network of AFIs.

The AEP provides funding to start-up and grow Indigenous businesses, support institutional development of the AFI network and deliver capacity building services for businesses.

The Indigenous Business Stabilization Program with the Government of Canada

The Indigenous Business Stabilization Program was an Indigenous-specific stream of the Government of Canada’s Emergency Loan Program (ELP), created in response to the COVID-19 crisis to provide emergency support to Indigenous small business owners in meeting their immediate operating cash flow needs amidst pandemic lockdowns.

The ELP was advocated for, developed, and delivered by NACCA and the AFI network, providing over $155 million in loans and non-repayable contributions to over 3,000 Indigenous businesses, many of whom were not existing AFI clients and wouldn’t have qualified for programs being offered to other Canadian businesses, between April 2020 and June 2021. This support provided a vital lifeline to Indigenous entrepreneurs and communities throughout the pandemic.

“For Indigenous, by Indigenous.” The past cannot be changed, but what happens to our future generations can look very different. Over and over, our network has shown that Indigenous organizations are best positioned to serve as lenders to Indigenous businesses.

If you are an aspiring Indigenous entrepreneur, find the right solution for you through your local AFI.

All partners and allies of economic reconciliation are also invited to join us at the Indigenous Prosperity Forum, taking place May 4-5, 2022, at the Hilton Lac Leamy in Gatineau, QC, on the unceded territory of the Algonquin.

The post Learn About Diverse Opportunities for Diverse Indigenous Dreamers and Creators appeared first on HiveInnovates.

The University of Calgary’s Hunter Hub for Entrepreneurial Thinking is bridging the gap between students and the new economy nationwide.

One of the biggest issues that innovation ventures face is a lack of easy accessibility to skilled talent. Establishing firm connections with talented individuals opens doors for collaboration, economic development, and continued prosperity for Canada. 

That’s why the Hunter Hub for Entrepreneurial Thinking offers many immersive talent experiences and workshops along with its social innovation and entrepreneurship training programs. They instill students from all disciplines with strong collaboration and problem-solving skills, resiliency, and a forward-thinking mindset that’s ready to grow and affect change to create a better future. 

The Hunter Hub creates, inspires, and supports future changemakers through its diverse curriculum, extracurricular, and experiential learning activities and programs. They build innovation initiatives across campus and beyond. They understand the new economy’s needs, which is why they strive to build a community of interdisciplinary innovators within the university while connecting with talent outside it. 

Honing future-ready skills

A new national initiative, Experience Ventures, is geared toward doing just that by giving students the chance to make an impact alongside real-world innovators. For aspiring student changemakers, these opportunities help to demystify and increase accessibility to the innovation community nationwide. 

Led by the Hunter Hub, Experience Ventures is a national initiative that has partnerships with eight other top Canadian universities so far. Having just launched in July, it’s had over 2,000 students participate in a wildly successful pilot year. 

“Our students are matched with early-stage startups and social ventures. Together they work to solve a defined real-world problem and build a solution,” says Keri Damen, the Executive Director of the Hunter Hub for Entrepreneurial Thinking. “Plus, students are paid for their experience, eradicating any potential financial barriers and increasing access to innovation opportunities from all backgrounds.”

With flexible working models, participants have a certain number of hours they must fulfill, and projects can be tackled as individuals or in teams. Students can apply what they’re learning in the classroom while integrating into local innovation ecosystems and building their networks.

Our students are matched with early-stage startups and social ventures. Together they work to solve a defi ned realworld problem and build a solution.

Advance your career

“We want to keep our brightest student innovators in our local communities supporting startups,” Keri adds. “Our students are getting hired by these ventures after the program ends.” Plus, the initiative was specially designed to reach rural and underrepresented communities, ensuring that the future of innovation is diverse in thought and representation by being accessible to everyone. 

Experience Ventures opportunities are open to students from 14 faculties at UCalgary and its partner universities — encouraging cross-discipline team building and mutual respect. Everyone gains experience in transferrable skills that will be useful in any industry, including risk management, collaboration, and the ability to spot opportunities. 

The university is actively looking for more partnerships to make this program available to more students. “The University of Calgary is on a very exciting trajectory in innovation,” Keri explains. Offering initiatives like Experience Ventures is why the school ranks number one for research-based startups in Canada amongst university institutions.

Building Canada’s innovation economy

The University of Calgary is also the youngest school to be ranked as one of the top five research universities in the country. The institution believes that research forms the necessary foundation for innovation and economic development. Not only are they finding that more students are going into innovation, researchers are now also increasingly considering the real-world impact their research might have. This crossover into entrepreneurship ensures that the school’s innovation ecosystem will continue to grow and thrive.

Experience Ventures gives students the sense of community that’s been lacking during the COVID-19 pandemic, particularly through their upcoming Experience Ventures National Hackathon. Collaborating with interdisciplinary teams, participants will work with industry experts to solve a problem — this one being wellness. Students will build networks, test solutions, and learn how to strategize. The top teams compete at a national competition for $5,000 worth of cash prizes. 

The post How to Create Future Changemakers? Give Them Real-World Experience appeared first on HiveInnovates.

Getting cleantech innovations to market can be challenging. KPM Power’s Battery Management Systems are helping to remove major barriers to electrification.

When Karen Lai established KPM Power in 2017, getting lithium batteries to market was a huge challenge. “Dealing with lithium is a very expensive process and a lot of the government funding was being cut at the time,” says the President & Founder of KPM Power, a Canadian company specializing in customized lithium-ion battery solutions. Wanting to help get cleantech companies and alternative energy products to market, she eventually settled on battery management systems (BMS) as the quickest and most affordable way. BMS is an electronic system of hardware and software that monitors and controls the state and performance of the battery.

Only Canadian company with a UL1973 and UL2580 certified BMS

KPM Power’s Anzen line of BMS has a key feature for allowing customization for various applications and battery types and is approved for chemistries ranging from lithium to nickel zinc. This year it received UL1973 and UL2580 certifications for safety for stationary applications (back-up power, off-grid power, vehicle auxiliary power and light electric rail applications) and moving electric vehicles, respectively. Being the only Canadian company to have both certifications not only eases KPM Power’s own entry to the North American market, but also that of its original equipment manufacturer (OEM) customers. “It will also open the door to a lot of OEMs out there because it simplifies the certification process and makes it easier for them to get their cleantech to market,” says Lai.

Being a female founded and run company, KPM is eager to support young women and girls in pursuing the science, technology, engineering, and math (STEM) fields through hackathons and bursaries. “Right now, girls make up only about 20% of enrolment in STEM programs, so we’re working to help more girls join STEM fields,” says Lai.

The post KPM Power’s Battery Management Systems a Catalyst for Cleantech Innovation appeared first on HiveInnovates.

Did you always know that you wanted to be an entrepreneur?

I always knew that I wanted to own a business. At a young age, I would create sample business plans for ideas that I had. When I was older, I was able to do the Junior Achievement program and then at the University of Toronto, I realized that people who weren’t very different from me made careers out of their small businesses. This is what led me to start my own company with a friend. It was so fun to build something from scratch, even though the business was never able to launch officially. These experiences gave me the confidence to create my next company, Dunk, a social media-focused company. That experience led me to co-found Trufan, which I’ve been working on for the last three years.

Have you had any mentors? What did they provide you in terms of support? How has that helped you?

Yes, Trufan especially has taken a whole community to start and grow. Partners like our investors, advisors and even customers have helped guide us. In my personal life, I always like to talk to people who I find successful and generous. To get in touch with some of these people I started a LinkedIn article series, interviewing these people and building a relationship with them from there. I would talk to them about my ideas and run problems by them. The benefit of putting yourself out there to find mentorship is that your mentor will be someone who comes from your world, who knows your struggles and helps you succeed. Most people don’t have these relationships, and that’s where you may need to think outside the box like I did to find a mentor.

Startup Canada says that finding financing is the largest roadblock to overall growth. Does that align with your experience?

The biggest thing early on that helped was that I had a network, so get started early. If you don’t have a network, just know that money is out there and it’s your job to meet the right people who control those channels. When it comes to pitching, it’s important to strategize on how you reach leads, how you handle the “noes” that will inevitably come your way, and with those “noes” how you can learn from them. Another point to note is that fundraising is not always about getting two or three big-ticket investors. At Trufan, we have a larger cap table of investors with smaller amounts of funding. We’ve found that to be beneficial in terms of our expanded network.

What are some personal roadblocks that entrepreneurs need to overcome?

Remember that your mental health is important. This is something I see throughout the whole community. As an entrepreneur, you shouldn’t be in it for the short run, so you need to take care of yourself. If you let yourself burn out, your business will, too. Try as much as possible to take time off when needed. Block off times during the day to go for a walk and to think. It’s also very easy to think, “I need to be a billionaire by this age.” Get that thought out of your head, especially if you’re under 30 because it puts unnecessary pressure on yourself.

Any upcoming projects you want to highlight?

We just launched a new consumer product called Surf. It’s a browser extension that rewards people for their everyday browsing.

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Unlike learning a new skill or hobby, there is no “how-to” handbook for entrepreneurship – that’s where non-partisan, well-connected support organizations come in. In an ecosystem filled with hyper-specialized, regionally diverse entities, there is a benefit in having access to a “30,000 foot overview” of the resources and opportunities within the startup landscape. Support organizations and their teams can point new and existing founders in the right direction, help them make informed decisions, and empower their success through connections and collaboration. Ecosystem connectors are also uniquely poised to identify the support gaps that really exist in the space.

There is much to consider when launching a new business – everything from financing and HR to marketing and legal. According to Startup Canada’s 2020 census, founders in the space are looking for more streamlined, centralized overviews of support available across the ecosystem. Startup Canada is committed to creating and fostering an entrepreneurial environment in Canada that is as supportive to new projects as it is to those that are established. Knowing that no two journeys are the same, we have created a list of resources for all aspiring and existing founders.

Here’s a good place to start:

Financing

• Hockeystick connects startups to funding using AI and data to drive connections.
• Clearco is a lending firm specializing in non-dilutive revenue-share agreements with startups.
• Backstage Capital is a venture capital firm specializing in funding women, People of Colour, and LGBT+ led startups.
• The 51 is a Financial Feminist platform where investors and founders come together for democratized access to women-led capital for women-led businesses.
• The National Angel Capital Organization is a steward of the angel capital asset class and informs evidence-based policy in partnership with the government.
• The Government of Canada has many loan and grant programs meant to empower Canada’s founders.
• Bank loans for SMEs: BDC, Scotiabank, etc.

Pitching

Volition brings a community-building approach to advising and events for entrepreneurs.

Human Resources & Hiring

Essential HR provides streamlined HR relief to small businesses through hands-on support.

Marketing & PR

• THINK DIFFERENT[LY] is a PR company helping organizations build, test, and measure effective growth strategies.
• Comms Bar works like an Apple Genius Bar, helping founders to use PR, marketing, and publicity to grow their business.

Global Growth

Startup Global connects a pan-Canadian cohort of entrepreneurs wanting to build global businesses through workshops, bootcamps, pitch building, advisory support, digital resources, and more.

Mentorship & Community

• Mentorly is a leading online mentorship platform connecting emerging and seasoned entrepreneurs for meaningful, one-on-one mentorship.
• Startup Communities are local, grassroots networks on a mission to fuel a culture and environment of entrepreneurship at the local and industry level.

Demographic-specific Support

Women-identifying Support

• FLIK is a curated portal allowing ambitious women to take on a mentorship-based apprenticeship under a woman leader.
• Startup Women helps women founders through mentorship, events, and resources.

Rural Support

• Rural on Purpose is a social purpose business with a global mission to introduce a new era of rural entrepreneurship.
• Clearing a New Path Podcast amplifies the underrepresented voices of rural women founders across the country.
• Community Futures operates 267 non-profit offices across Canada providing small business services to those in rural communities.

Indigenous Founder Support

• Okwaho Equal Source is a social purpose enterprise on a mission to fuel social impact through human-centred design, innovation, and Indigenous-led research.
• NACCA is a network of over 50 Aboriginal Financial Institutions dedicated to stimulating economic growth for Indigenous people in Canada.
• Pow Wow Pitch is a grassroots community of Indigenous entrepreneurs purpose-built to provide a platform for education, celebration, mentorship, and reconciliation.

Black Founder Support

• The Black Entrepreneurship Program is a partnership between the Government of Canada, Black-led business owners, and financial institutions which includes an investment of up to $350.8 million over four years.
• Black Entrepreneurs BC provides advocacy, access to funding facilitation, advisory and mentorship services to help Black businesses grow, scale, and become sustainable.

LGBT+ Support

• The CGLCC is the only chamber of commerce uniting and advocating for Canada’s 28,000+ LGBT+ owned and operated businesses.
• Pride at Work uses dialogue, education, and thought leadership to empower Canadian employers to build workplaces that celebrate LGBT+ employees.
• TransFocus Consulting brings systems-thinking to gender inclusion, helping organizations transform from the inside out.

Disability Support

Liberty Co is a consultancy focused on increasing the participation of Neurodiverse individuals in the workforce.

Youth Support

Futurpreneur provides financing, mentorship, and support tools to aspiring founders aged 18-39.

Specialized tools and resources have their benefits, but to truly empower Canadian entrepreneurs we need centralized, reliable, dedicated support spaces where founder success is central to mission and mandate.

Kayla Isabelle is the Chief Executive Officer at Startup Canada, the gateway to Canada’s entrepreneurial ecosystem that points you in the right direction, eliminates barriers, and champions your needs to private and public sector partners. Startup Canada’s mission is to connect Canada’s entrepreneurs with the tools, community, and support they need to start and build their businesses. Kayla has dedicated her career to supporting entrepreneurs, both in Canada and internationally. As an award-winning strategic communications consultant and change management facilitator, Kayla is passionate about leveraging the power of storytelling in the entrepreneurial community.

The post Entrepreneur Support Organizations: Helping to Understand the Ecosystem appeared first on HiveInnovates.

Since the very first modern computer appeared in office, we’ve all been asking, “Do we still need all this paper?” It’s a harder question than it seems. If we want to limit the waste, the ecological impact, and the productivity drain of paper, we need to step back and ask ourselves what it is that keeps drawing people to the printout. We need solutions that ease the transition to an enhanced digital workflow while understanding real-world business needs.

The reality of paper

The invention of paper ushered in a never-before-seen age of literacy and education. It’s a cheap, portable, accessible, and lasting vessel for information. Those qualities still drive its use today. But, in an era where workers are spread across the globe, handing a sheet of paper to a colleague is rarely convenient. This is a world where information may as well not exist if it can’t be accessed from your phone. This is a moment when costs are measured not only in dollars, but in time and tons of carbon.

The advantages of going paperless are clear. The Association for Intelligent Information Management has reported that 84 percent of organizations that undertook paper-free projects achieved payback in less than 18 months. But that value is only realized when the undeniable power of print is preserved through this transition.

Canon has spent decades perfecting the philosophy and the practical reality of how people and businesses create, preserve, use, and share information. They’ve leveraged this experience and insight into the creation of new suites of tools that aren’t just paper replacements, but reinventions of the business information ecosystem. And, critically, these systems are informed by a deep understanding of what businesses and employees want and need.

A complete digital transformation

According to Gartner, every time an employee touches a piece of paper, it costs the company $20. Gartner further estimates that the average employee loses almost four weeks of productivity every year searching for lost and misfiled documents. There’s real money and time to be saved here.

But, when the office is a maze of filing cabinets, and home work spaces are chaotic mountains of paperwork organized only by memory and hope, the gap to a structured digital solution may seem unbridgeable. Going paperless is a process, not an event.

Canon’s flagship information management solutions provide an answer to this problem. And cutting-edge OCR, intelligent document fingerprinting, and high-accuracy indexing provide a seamless on-ramp for any document into the digital workflow the moment it’s needed.

These solutions provide workers with the ability to capture, archive, retrieve, edit, and process data at any point in the workflow quickly and securely. They turn every document into a transactable work space with a memory of its own, providing every bit of the power and flexibility of a paper and a pen while maintaining the accessibility and security of cloud-based collaboration.

And, just as importantly, the new digital paradigm to which these documents are transitioned, to has been crafted from the ground up for efficiency. After all, little is gained by replacing a stack of marked-up paper with a tangled email inbox housing dozens of threads with hundreds of versioned documents. A comprehensive solution gently and seamlessly tames this mess into a cohesively streamlined whole.

So, do we still need all this paper? Not necessarily, but we do need a knowledgeable and thoughtful guide to lead us away from it. We need a voice that is intimately familiar with the way businesses work and is unafraid to imagine ways they could work better. Reaping the benefits of the paperless transition requires not a leap, but a series of well-informed steps along a carefully crafted path, a path paved by companies like Canon.

The post Helping Companies Upscale As They Outgrow their Paper Workflow appeared first on HiveInnovates.

Oftentimes, entrepreneurs and business owners find themselves hampered by a lack of robust market intelligence. With that in mind, the City of Abbotsford, BC, has set out to provide tools that business owners need — online, interactive, mobile-friendly data to guide their decision-making, especially when crisis hits, such as a pandemic or natural disaster.

Nicknamed “the Sitefinder,” the first tool that Abbotsford introduced for local and new businesses was the Geographic Information System (GIS) ZoomProspector tool back in 2016 — making it the very first community in British Columbia to put tens of thousands of data variables alongside available commercial properties for analysis.

Powered by technology from GIS Planning Canada, and augmented by five additional interactive tools the following year, investors and businesses could use the tool to research, analyze, export, and share demographic, wage, consumer spending, business, and industry data. The information comes from a variety of regularly updated sources, including Environics Analytics (based on Statistics Canada data), Emsi and Data-Axle. But the Sitefinder makes these sources of data interactive and highly visual – and available to any business looking online for solutions.

“Abbotsford’s location is right next to the border as well as the port, which helps us to get our product anywhere in the world. Also, we have a lot of industries here to support our manufacturing. If a saw breaks down at the mill, we’re not going two hours out of the bush to get it sharpened, we’ve got a guy right next door that can do that for us,” says Nav Sangha of North American Forest Products.

This ability to “shop local” took on a new urgency for businesses when the COVID-19 pandemic hit. With lockdowns, enforced closures and supply chain disruptions, everything became that much harder for businesses. Abbotsford responded by launching Open for Business (ZoomBusiness), which allowed area residents to quickly map and find local businesses that were open; to learn about modified hours, contactless delivery, gift card programs and more. The tool was one of the first to launch in Canada and remains a great way for businesses to list themselves and to see others around them. Moreover, with the help of this tool, people could spend their dollars at home instead of online.

As the pandemic dragged on, it became clear that important, long-lasting shifts in how business was being done were underway. Businesses were pivoting. And Abbotsford followed, leveraging a third, highly customizable GIS tool to its data toolkit. The virtual ZoomTour uses Google Maps technology, supports images, video, sound and can link to business websites or the City’s other GIS Planning data software.

Abbotsford’s “Passport to Patios” tour showcases restaurants offering extended outdoor patio service to customers wanting a safe eating experience at their favourite locales. The “Abbywood Walk of Fame” tour leads visitors down the main street and through town to discover locations and businesses popular with film and video producers. And the newest “Agriculture Resource Map” offers help, funding and support for farmers and other agri-business affected by the 2021 flooding disaster.

“Although we have hundreds of clients across North America, the City of Abbotsford is one of the first places we contact with any new data tools. We know they intuitively understand the importance of supporting businesses and investors with critical information,” explains GIS Planning Canada’s VP Marketing, Alissa Sklar, PhD.

The City of Abbotsford remains a model for how communities can actively support their local businesses in the ways that count, by giving them easy access to the information they need when they need it.

The post How Abbotsford Is Supporting Businesses with Critical Market Intelligence Data appeared first on HiveInnovates.

Canadian startups need to think internationally in order to succeed. Learn how the DMZ can help mitigate the risk involved in expanding to new global markets.

Despite Canada’s small market, many Canadian startups are not exploring the potential that global expansion may bring to their company.

While every founder wants their company to access new customer bases and capital, only about 12 percent of small businesses in Canada currently export their goods and services. However, for companies who want to look into expanding, it might be time to start looking global from the get-go.

“The majority of tech startups don’t realize it, but they are in a business that can be global from day one,” says Abdullah Snobar, the Executive Director of the DMZ. “We need to help tech startups and early entrepreneurs see themselves as exporters, even if they don’t have a physical product.”

The DMZ has helped to raise over $1.5 billion in seed funding for startups and has provided mentorship and support, utilizing its worldwide network, to turn Canadian startups into world-class, global tech businesses.

Looking beyond Canadian borders

According to Snobar, for Canadian startups in a small domestic market, considering global expansion is a necessity, not a nice to have. This was the case for Softdrive, a DMZ incubator company, where only 3 percent of their total addressable market was in Canada.

“The US has about 24x the amount of organizations than Canada, making it critical for Softdrive to expand internationally,” says Leonard Ivey, Founder of Softdrive. “If we don’t, we’d be stunting our growth significantly and mitigating our chances of success.”

However, there are a few barriers that make global expansion difficult for Canadian startups. For pet-tech company Charmy Pet, navigating the regulations to comply with federal agencies like the CFIA and U.S. FDA was one of them—but the support of the DMZ and their connections made the process much easier.

“We were fortunate to have the support of the DMZ and their in-house supply chain experts to help us expand,” says Zach Sheng, Co-Founder and CEO of Charmy Pet.

Building a reputation in a new market, while trying to find support, trustworthy global partners, and dealing with cultural differences, can be difficult. “It can take a few years for a startup to build a solid reputation in their local market and transferring that trust to a global market is challenging,” says Mohsen Omrani, Co-Founder and CEO of OPTT. “A good way to bridge local trust to a new market is being associated with reputable organizations, like incubators and VCs, with proven track records.” It helps to have a team like DMZ in your corner where these past experiences can be used as leverage.

How the DMZ’s network can help

But Snobar says one of the biggest barriers to expansion is the founder’s own mindset. “If they don’t want to go global, then they’ll find every excuse not to go. But there’s always risk anywhere you operate,” says Snobar. “If you don’t look to expand into a new market, someone else will.”

For those who do want to expand globally, the DMZ offers founders a deep understanding of different local ecosystems, countries, and economies through their network of global offices and incubators in over 10 countries. For example, if a Canadian startup wanted to expand into India, the DMZ could connect them to other founders and partners in their field who are already involved in the Indian market. This is due to the DMZ being an enabler to global expansion—they can help founders access peers who’ll understand their journey and their struggles.

“There’s never been a more important time than today to think about how to take your business and expand to your full potential,” says Snobar. “The whole team is glad we’re helping in that journey with creating opportunities for founders entering these new markets.”

The post Why Canadian Startups Need to Look Beyond Borders appeared first on HiveInnovates.

Community boosters are worth a lot. Schools, arenas, parks, and libraries in Strathmore share stories of people pulling together to get the project finished. More businesses are discovering that the community is proud to help them grow, too.

Investments in agri-business, manufacturing, and renewable energy are setting records for the largest volume of capital investment in Strathmore’s history. It’s a town focused on the future and growth that welcomes a variety of startups but has retained its rural roots and a commitment to its community.

More businesses are discovering what Strathmore offers

That is just one reason why Borea Construction has been so pleased with its partnership with Strathmore. It is constructing two major solar projects in the area and has received an incredible level of support from the town. “Strathmore is really willing to go farther to help us succeed,” says Chelsea Million, the company’s talent advisor. When explaining what sets Strathmore apart from other places, she cites the successful job fair hosted locally, the quality of local candidates, and the town’s willingness to share resources in order to help meet the firm’s goals.

The town has a long tradition of being innovative and solution-focused. Its Marigold Library System, established in 1981, was a game-changer. The not-for-profit municipal collaboration provides state-of-the-art library services, now serving over 300,000 people across 44 municipalities. It joined forces with Western Irrigation District (WID), which supplies irrigation water to almost 100,000 acres of farmland, to build a new shared headquarters this year. It’s a prime example of Strathmore’s strong collaborative spirit.

Focus on success and innovation

Local businesses are expanding their reach. Origin Malting drew on five generations of farming expertise when they launched their malting plant in 2016. As pioneers of soil conservation and traceability, they brought a focus on sustainability to their operations. Producing the finest malt for craft brewers has brought customers from across North America.

We have great people that work hard here. Some of the finest people you’ll ever meet…they work right here. We’re much like a family I guess.

An unexpected start-up has its origins in a local farm as well. G&S Airport Conveyor, which builds and maintains baggage conveyor systems for airports around the world, started out of a garage on an area farm. Since moving into Strathmore, the company has grown and invested in newer, more advanced technology. Owner Jim Goertz appreciates how business-friendly Strathmore is. He also likes the inviting small-town feel, something that makes it easy to attract and retain employees. It’s a desirable place to work and to live in. “We have great people that work hard here. Some of the finest people you’ll ever meet … they work right here. We’re much like a family I guess.”

Strathmore is well-positioned to keep the momentum going. “Strathmore offers start-ups a great place to grow. Our team offers personalized support you can’t find in large centers” says Mayor Pat Fule. “We’re a friendly, welcoming community that helps each other to succeed.”

The post Small Towns Are Friendly — And Startups Succeed with Lots of Friends appeared first on HiveInnovates.

Why is financial literacy important for young Canadians?

With the cost of living reaching an all-time high, young Canadians must develop and smartly use financial skills, which means having the ability to manage personal finances, plan, budget, and even invest. Financial literacy should be taught, and early on! It is the key to building a healthy and fruitful relationship with money.

What’s something you wish you told your younger self when it comes to money management?

The movie business has always thrived, but the pandemic served as an unprecedented life lesson. I would tell my younger self “Plan for rainy days” no matter what.

Why is it important for Canadians to invest in their wealth?

Simply saving money may help in case of emergency spending. This has its obvious merit, but it is limited. Smart investing is the way to put Canadians’ money to work, outpace inflation and potentially build their wealth. It’s a question of Security and Peace of mind.

What are your top money management tips for new businesses?

Make sure you have the money before investing. Be organized and focused. Keep a record of everything. Patience and tenacity are key. Surround yourself with talent (you can’t be good at everything!) Invest in the people you hire. And know this: You will work harder for yourself than you would for anyone else. That means you will sacrifice a lot in order to start and develop your business. Make sure you’re ready to take that on.

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