Tag: business

Canada gets a conference for startups: Startup Nation

Early this morning Jevon MacDonald at StartupNorth announced Startup Nation, a conference for startups in Canada. The two-day event will take place in Toronto on November 13th and 14th and features a number of high profile speakers, including Howard Lindzon, Lane Becker, Leila Boujnane, and Canadian participants in the YCombinator Summer ’08 class. Here’s how the conference is described:

StartupNorth is Canada’s only grassroots conference for startups. Created for entrepreneurs and by entrepreneurs, StartupNorth aims to educate and inspire by connecting you with other entrepreneurs, mentors and the ecosystem of support needed to create and operate a successful startup in Canada and the world.

Yes, they seem to be conflicted about what to call it. Some pages and images say “Startup Nation” while others say “Startup North”. The URL is http://startupnation.ca.

I think this type of event is great for Canada. The more opportunities we have to get people face-to-face meeting one another, sharing knowledge and ideas, the better. That said, there’s something about this conference that rubs me the wrong way.

At first I was put off by the fact that it takes place in Toronto, yet is called “Canada’s conference for startups.” I guess you can’t really hold that against them though – you’ve got to start somewhere, and Toronto is as good a place as any. Other conferences such as Mesh and Northern Voice are similar in this regard.

The more I thought about it, the more I realized that my problem with the conference is the price. A regular ticket costs $355 CDN, with early bird tickets running $295 CDN (before October 12th). What was that about grassroots and such in the description?

I am kind of surprised at the price. Even if the conference wasn’t completely free, it seems expensive compared to something like Northern Voice which only costs about $50. They are able to do that with the help of sponsors – surely Startup North could have signed up enough sponsor support.

I was further put off by Jevon’s comments on his post when others asked about the price. He seemed to take a very defensive approach. Furthermore, he listed Red Herring Canada and TechCrunch50 as examples of more expensive events. Sorry Jevon, I hope the conference is a success, but you’re not TC50.

There is a lot of talk about connecting, and networking, and meeting with some really smart people. Thing is, many of them are fairly accessible already – no $400 fee required. So what does Startup Nation offer beyond that? Can the workshops and training make up for the steep entry fee? I’m not convinced you can learn that much in a day or two.

What do you think? Would you pay $400 on top of travel and accommodations to attend Startup Nation?

Facebook's virtual gifts – money well spent?

In a post at VentureBeat yesterday, Eric Eldon shared some estimates that suggest Facebook’s revenue from virtual gifts this year will be in the range of $28 million to $43 million. That’s a serious amount of coin for nothing more than an image on a web page.

Gifts are priced at $1 each, and the study found that an average of 470,000 are sold each week.

Facebook introduced the gifts feature in February of 2007. A gift is simply an image of something, like a heart, a flower, or hundreds of other options, that when given, shows up on a “gift box” in a user’s profile. If the gift is public, then the recipients’ friends can see it, too. If it’s private, only the recipient and the giver can see it.

I think the key there is “simply an image”. This is definitely one of those things where you can’t help but think “why didn’t I come up with that!”

Clearly, gifts are a good source of income for Facebook. I wonder who buys them though. Why are people so happy to pay $1 for a bunch of pixels on a web page?

Surely that $40 million could have been spent on something better?

Talking Twitter & Social Media on SmibsTV

smibstv A few weeks ago, local entrepreneur Peter Urban invited me to take part in one of his newest projects – an Internet TV show for small businesses called SmibsTV. Specifically he wanted to explore how small businesses can use Twitter to help themselves grow. I thought it was a great idea and jumped at the opportunity! The episode went live today.

Here’s what Cam wrote about Smibs on Techvibes a couple months ago:

Peter Urban, the company’s founder and President, said that Smibs was conceived out of years of consulting SMBs and finding a common small business frustration: the difficult balancing act of staying in touch with your network and on top of your sales activities, while working on projects that pay the bills. Urban’s solution to that challenge is Smibs and their first extension: Doorbell, a web-based sales software application for “non-sales people”.

You might recall that I gave Smibs my “demo of the evening” at the first Edmonton DemoCamp. It was my first exposure to the company, and I’ve been continually impressed ever since. Peter and his team use social media very effectively, so it was a treat to talk to him about it.

Check out the episode at SmibsTV and let me know what you think!

Pros and cons of telecommuting

telecommuting The company I work for, Questionmark, is a big believer in telecommuting. As a result, I work from home usually two days a week. We were talking about it in the office this week, and this article in the New York Times made me think about it again recently:

Gasoline has become the new workplace perk, as employers scramble to help workers cut its use and cost. A dollar a gallon ago, things like telecommuting, shortened workweeks and Internet subsidies were ways of saving time and providing workers with a little more balance in their lives. Now they have become ways to save money and to keep workers from, well, walking.

Saving money on gas is definitely a good thing about telecommuting. Not everything about it is positive though. Here are some pros and cons for me.

Pros:

  • I save money on gas, likely extend the life of my vehicle, and get to avoid traffic headaches.
  • Rolling out of bed and turning on the computer is great. No need to rush around and get ready! This also helps with really early morning meetings.
  • If I need to run a quick errand, it’s easy to do so.
  • Often there are less distractions, and I can really focus on something.

Cons:

  • It’s really easy to eat too much. With the kitchen a few steps away, I find myself snacking more than I would in the office.
  • No air conditioning in my apartment…when it’s 30 degrees outside, the A/C in the office is definitely nice.
  • Sometimes to solve a problem you simply need to talk to someone else in person.
  • Technology isn’t perfect, and sometimes the VOIP phones fail or for whatever reason I can’t connect to something I need.

You can read more about telecommuting at Wikipedia.

Another popular trend is the shortened work week, where you work four ten hour days instead of five. That would definitely save money on the commute too, but again would have pros and cons.

Seems to me that the standard 9 to 5, five day work week is becoming a bit antiquated. At the very least, more and more organizations are comfortable experimenting with alternate schedules and ways of working.

Twitter officially acquires and rebrands Summize

twitter When I wrote about Summize last week, I mentioned the rumor that the search engine was being acquired by Twitter. Today the deal was formally announced, though no financial details were shared:

We’re excited to announce that Twitter has acquired Summize—an extraordinary search tool and an amazing group of engineers. All five Summize engineers will move to San Francisco, CA and take jobs at Twitter, Inc. This is an important step forward in the evolution of Twitter as a service and as a company.

The old Summize site started redirecting to http://search.twitter.com earlier this morning, and the colorful Summize logo has been replaced with the blue Twitter one. Sadly, they’ve also shut down the Summize Labs section of the site, with a loose promise to bring the prototypes back in some form down the road.

According to TechCrunch, the deal was mostly stock. They have a video up with Twitter co-founder Evan Williams and will be posting a transcript of the interview later today.

For a much more interesting take on the deal, check out the Summize blog post:

It’s with great pride that I officially confirm Twitter’s acquisition of Summize. The rationale for this transaction from Twitter can be found here. I’ll outline my motivation to sell our beloved Summize, talk about our experience soup to nuts, and recognize the players who made this deal possible.

They provide an excellent overview of how they got to today, and they specifically cite Fred Wilson‘s help in getting the deal done.

Congrats to everyone involved!

UPDATE: Here’s the interview (with transcript and analysis) that Michael Arrington did with Evan Williams. They talk about Summize, the API, and Twitter’s revenue model.

Selling seats to an experience: The Dark Knight in IMAX

After reading some early reviews of The Dark Knight today, I started thinking about the movie business again. I also came across this Techdirt post, which reiterates that the movie business is not selling movies, but selling seats to an experience. Here are some of the things I’ve read about the film:

“The haunting and visionary Dark Knight soars on the wings of untamed imagination. It’s full of surprises you don’t see coming. And just try to get it out of your dreams.”
– Peter Travers, Rolling Stone

“I have been given the go ahead to review The Dark Knight, but this is the type of film that I need to see at least two or three times before attempting such a task. The film is so very expansive, so incredibly epic…If you don’t see this movie in IMAX than you haven’t seen the movie.”
– Peter Sciretta, /Film

“‘Batman Begins’ follow-up is a faster-paced ride that will have you wanting to buy a ticket for the next showing when you leave the theater…Do yourself a favor and see it in IMAX.”
– Larry Carroll, MTV News

Most articles I’ve read say the the film really should be seen in IMAX. Christopher Nolan went to great lengths to make everything in the film as real as possible, and “is the first Hollywood director to shoot key sequences of a major feature in IMAX” according to Wired. So today I bought two tickets to the midnight IMAX showing.

I happily paid $30 today for the IMAX tickets, because I am looking forward to the experience. Yes I think the movie is going to be awesome, but it’s the better experience that really has me excited. And I’m really just talking about the screen and sound in this case…imagine if the entire moviegoing experience was better! Too bad Hollywood hasn’t yet figured this out. I hope Nolan rubs off on his peers.

And yes, I still think simultaneous movie releases could work with an improved moviegoing experience. I’d love to buy a copy of The Dark Knight on my way out of the theatre, thank you very much.

Edmonton's Social Enterprise Fund

social enterprise fund Recently, a new organization here in Edmonton caught my eye: the Social Enterprise Fund (SEF). Today I met with Omar Yaqub, the organization’s Director of Operations, to find out more about it.

Eight years in the making, the Social Enterprise Fund recently got off the ground in February. A joint initiative of the Edmonton Community Foundation, the City of Edmonton, and the United Way of Alberta, SEF aims to become an $11 million fund with $21 million in loans in the next five years.

What’s a social enterprise? SEF defines it as “a hybrid that combines social intent & the for-profit business model.” Just as a traditional enterprise is concerned with return on investment (ROI), the social enterprise is concerned with social return on investment (SROI). What’s the difference? SROI aims to capture the social and environmental benefits of projects, whereas ROI typically does not. You can learn more about social enterprises at Wikipedia.

There are three main criteria that potential SEF clients must meet:

  • Social comes first.
  • Business thinking is integral.
  • Profits are reinvested into the mission.

SEF will sit down and talk with potential clients to ensure they meet these criteria. In fact, there are no application forms or deadlines – SEF takes a much more intimate approach, working with clients directly.

They key thing SEF can provide is a loan. The goal is to help non-profit organizations move away from grants. Examples of financial packages include:

  • Housing or mission related: up to $500,000, 1 year term
  • Building purchases: up to $250,000, 10 year term
  • Existing social enterprises: up to $150,000, 5 year term
  • New social enterprises: up to $50,000, 8 year term

While the terms can be very flexible, the loans are not forgivable. In addition to loans, SEF offers business expertise, educational seminars, and more. Organizations that SEF has worked with already include Flavour Budzzz and E4C’s Kids in the Hall Bistro. Other examples of social enterprises include Habitat for Humanity’s ReStores, and Earth Water.

The Social Enterprise Fund is the first of its kind in Alberta, though the concept is actually quite common in other parts of the world. In fact, there’s even a Social Enterprise Alliance. Next April they’ll host the tenth annual Social Enterprise Summit in New Orleans. We’re clearly a bit behind here in Alberta, but I’m really glad to see something like this launch in Edmonton. It’s a great program for our community.

You can learn more about the Social Enterprise Fund at their website, which includes a 14 minute video overview of the program. If you have an idea for a social enterprise, make sure you call or email them!

UPDATE: Turns out SEF isn’t really the first of its kind in Alberta. Just found Social Venture Partners Calgary via Sharon. It started in November 2000. Their model seems to have a greater focus on philanthropy.

UPDATE2: Also via Sharon, there’s a free workshop on SROI taking place on June 26th at MacEwan. Download the information sheet (PDF) here. You’ll need to RSVP if you want to attend.

TEC VenturePrize 2008

tec ventureprizeLike last year, I was once again lucky enough to attend the VenturePrize Awards Luncheon today with Dickson, and Chris, Don and their team from ProTraining. I hadn’t paid the competition much attention this year until recently, but it was good to see some familiar faces and meet new ones at today’s event. I’m also really happy it was once again in Hall D, easily one of our city’s nicest venues.

The grand prize winner for 2008 was DataGardens, a company that hopes to help companies manage their IT infrastructure more effectively. At first glance, they strike me as somewhat similar to one of last year’s finalists, Nirix. I wrote a bit more about the event (and the new TEC VenturePrize branding) at Techvibes, so check that out if you’re interested.

The event was once again hosted by Citytv’s Paul Mennier, and he did a great job. The guest speaker was Jim Carroll, a futurist and trends & innovation expert. He’s a great speaker and kept my attention throughout his presentation, but I have to say I didn’t enjoy him as much as Leonard Brody last year. Jim also got a few things wrong – he described Guitar Hero as a Nintendo innovation, and he claimed that we’re insulated from the rising energy prices here in Alberta. The latter remark was made off-the-cuff (“Hey, I’m in Alberta, let’s make it relevant”), and I think he probably feels pretty embarrassed about it now.

Lunch was similar to last year, though I don’t think I enjoyed it as much this time around. We started with Romaine Lettuce and Spinach Leaves with Grapefruit Dressing. The main course was Seared Thai Chicken Breast served with Tomato-Chili Jam, Coconut Rice, and Seasonal Vegetables. Dessert was Lime Meringue Pie with Fresh Berries and Raspberry Coulis.

The competitor videos this year all rocked, in my opinion, so kudos to whichever company helped to put those together. The music they played as the winners were announced was just a bit odd, though. Something to improve upon for next year!

Thanks again Chris & Don!

Starbucks: All Your Clover Are Belong To Us

starbucks Their stock has been slumping for over a year now, and Howard Schultz has had enough. He recently took back the CEO position at Starbucks, and pledged to make changes that would bring about the return of the Starbucks experience. Yesterday at the company’s annual shareholders meeting, he delivered:

“Eleven weeks ago, I made a personal commitment to every one of our customers and partners (employees) to reaffirm our place as the world’s coffee authority,” said Schultz. “By embracing our heritage, returning to our core — all things coffee — and our relentless commitment to innovation, we will reignite the emotional connection we have with our customers and transform the Starbucks Experience.”

Here’s what they announced:

  • Starbucks has purchased The Coffee Equipment Company, who makes the Clover machine. Some stores in Seattle and Boston already use the Clover. This acquisition means the Clover is coming to a coffee shop near you!
  • A new “everyday” blend of drip coffee called Pike Place Roast. Currently, the drip coffee available rotates.
  • Another new espresso machine, called the Mastrena. The existing Verisimo machines are also getting upgraded in the U.S. and Canada.
  • An online community: mystarbucksidea.com.
  • Rewards for Starbucks Card holders! Starting in April, card holders in the U.S. and Canada will receive complimentary customization on syrups and milk, free refills on brewed coffee during the same visit, a complimentary Tall beverage when you buy a pound of coffee, and two hours per day of free Wi-Fi.

Of course, the free Wi-Fi initiative was actually announced last month. I checked out the new community, and it seems like an attempt to offer a company-sanctioned outlet for discussion that already happens at places like the Starbucks Gossip blog. The rewards program is somewhat disappointing, but it’s only the first phase apparently.

I am looking forward to the new drip blend, and the Clover! Here’s what the co-founder of Coffee Equipment Co. had to say:

Having his company bought by Starbucks Corp. wasn’t his initial plan, but it became “a dream come true” for Zander Nosler, who co-founded Ballard’s The Coffee Equipment Co. in May 2004.

“We’re ecstatic,” said Nosler, 36. “There will be amazing opportunities, amazing resources to turn up the heat on making some new products and doing R&D.”

Apparently the acquisition announcement pleased shareholders more than anything else. I can’t say I’m surprised! I wonder how all the little independent coffee shops that used the Clover as a point of differentiation are taking the news.

Time will tell if these announcements actually do “transform the Starbucks Experience,” but I think the Clover purchase was really smart regardless.

Read: Yahoo! Finance, Seattle Times

PS. If the title of this post doesn’t make sense to you, read this article at Wikipedia.

Daryl Katz wants a new arena in Edmonton

rexallDaryl Katz, founder of the Rexall pharmacy company, announced yesterday that he had acquired 100% of the outstanding shares in the Edmonton Investors Group (EIG), making him the new owner of the Edmonton Oilers (pending league approval which is widely expected to come without any problems). Here’s what the somewhat reclusive Katz said in yesterday’s statement:

“Like the EIG and all Edmontonians, I want what is best for the team, the
community and the city. I want to help secure a world-class building and
continue the EIG’s legacy by bringing the Cup back to Edmonton.”

Today he held a press conference with select members of the media, which I listened to on 630ched. It was the first time since he started pursuing the Oilers last March that we’ve heard him speak about his motivations. I found most of his answers to be fairly simplistic, without much meat behind them. He said “I can’t comment on that” quite a few times.

One thing he did make clear, however, is that he is eager to see a new arena built in the heart of downtown. He wants the Oilers to play at the centre of the community.

Katz has suggested he’d be willing to commit $100 million towards the construction of a new arena. With estimates for the project ranging from $250 million to over $500 million (and possibly as high as $1 billion depending on the scope), there’s a lot of funding that will need to come from somewhere else. As I’ve said before, I don’t believe it should come from taxpayers. All Katz said today was that “there are lots of ways to fund real estate.”

I’m glad Katz is the new owner of the Oilers. Almost everyone associated with the team seems to like him, and I don’t think there’s any question that he’s got Edmonton’s best interests at heart. He also seems fairly level-headed about things, making clear today that he wants to read a pending report on the feasibility of a new arena before making any decisions.

That said, I hope his eagerness to build a new rink in Edmonton’s downtown does not turn into blind determination. Katz needs to be able to say no if it becomes clear that a new arena will only happen with significant public funding, at the expense of other, more important public projects.