Evolving the Innovation Ecosystem...Ecosystem Programs: Gaps & Areas of Improvement Ecosystem gaps...

Evolving the Innovation EcosystemAugust 22, 2018

Welcome

Cheryll Watson

Vice President, Innovate Edmonton

Edmonton Economic Development

Context and Progress to Date

The Path Forward – Evolving Edmonton’s Innovation Ecosystem

• Feedback from the entrepreneurial community

Formation of the Edmonton Innovation Ecosystem Community

• Bringing together the service providers

Collective Mandate document

• Guidelines on how service providers work together and serve entrepreneurs

Results of the Startup Genome – Global Startup Ecosystem Report

Overall recognition of the need for an integrated innovation ecosystem that serves all entrepreneurs

Key Principles

o We need to be bold in our ambitions

o There is a need for urgency

o This is a long term commitment and investment

o Entrepreneurs need to lead

o Overall collective commitment

Edmonton Innovation Ecosystem Community (EIEC)

• A Partners

• A100

• Alberta Enterprise Corp

• Alberta Innovates

• Alberta Women Entrepreneurs

• Amii

• ATB Entrepreneur Centre

• Business Link

• City of Edmonton

• Concordia University

• University of Alberta

• EEDC

• Futurepeneur

• Government of Alberta

• Health City

• Kings University

• MacEwan University

• NABI

• NAIT

• Norquest College

• RainforestAB YEG

• Startup Edmonton

• TEC Edmonton

• Technology Alberta

• Valhalla/VA Angels

Mandate: Collaborate and cooperate to create the best possible

environment for technology, innovation and entrepreneurship.

Business Model / Market FitProduct / Market FitVision / Founders FitProblem / Solution Fit

Minimum Viable

Product

Validate / Iterate

(or pivot)

VALIDATION

Lean Startup

FORMATION

Mission > Vision > Strategy

GROWTH

Scale

Up● Idea and co-founder team formation

● What, to whom, why and how?

Establish &

Strengthen

-2 -1 0 1 2 3

Idea

Bu

siness

Processes &

KPI’s

INITIAL ASSESSMENT & ACTION PLANS

HEALTH IT SANDBOX

REGULATORY AFFAIRS

MERCK ACCELERATOR

HEALTH SYSTEMS ENGAGEMENT – AICE LIKE ACTIVITIES

UA PATENTING, LICENSING, AND STARTUP CREATION

TEC VALHALLA

BUSINESS PLANS

EIR C-SUITE PLACEMENT AND BUSINESS DEVELOPMENT SERVICES

GO TO MARKET STRATEGY & EXECUTION

OPPORTUNITY ASSESSMENTS

INDUSTRY DAYS

DYNALIFE ACCELERATOR

INNOVATORS SPOT

IP ASSESSMENTS

HEALTH SYSTEMS OPPORTUNITY ASSESSMENT

Mapping Homework

What’s Next

September

Reconcile:

- What are we currently doing

- What’s needed?

October

Bring in Entrepreneurs

- All EIEC members extend invitations

- Multiple sessions

2019

Accelerate our progress

Agenda

2:15-3:15 pm Albert Innovates Strategy, Laura Kilcrease

3:15-4:30 pm Opportunity Brainstorming, Bruce Alton

4:30-4:45 pm Wrap up, Cheryll Watson

4:45-6:00 pm Networking

Alberta Innovates Strategy

Laura Kilcrease

Chief Executive Officer

Alberta Innovates Strategy

Areas of Opportunity

Bruce Alton

A-Partners

A100 Member

Objectives

1. Progress to Date2. Brainstorming3. Summary

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1. Progress To Date

Ecosystem Programs: Gaps & Areas of Improvement

▪ Ecosystem gaps and potential improvement areas have been identified through:

▫ Community driven feedback from entrepreneurs; summarized in the The Path Forward document

▫ EIEC group meetings in June and July

▫ Startup Genome - Global Startup Ecosystem Report 2018

▫ Meetings with the ATC and Startup Edmonton communities

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Improvement Areas

1. Increase the quantity of high-quality start-ups in the Edmonton region.

2. Help grow scale-up companies (as opposed to start-up companies) in the Edmonton region.

3. Increase the number of talented technology workers (for example in the areas of coding, QA, software and database support, analytics, SEO, etc.).

4. Increase the quality and quantity of experienced senior managers and executives in functional roles (software architecture, product design and development, sales management, etc.). 14

Improvement Areas

5. Increase the number of high-quality networking opportunities locally and in key international markets.

6. Increase the sources of dilutive and non-dilutive financial support for start-up and scale-up companies.

7. Better leverage connections and support between traditional industry sectors and the innovation ecosystem.

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Ongoing Process

▪ August Meeting – brainstorming to identify gaps in the existing system and where more needs to be done

▪ September Meeting – present results of mapping exercise that shows how current programs align and or overlap with each other. Apply results of August meeting

▪ October Meeting – present a revised ecosystem programs to the entrepreneurial community. All members of EIEC to identify attendees

▪ 2019 – launch of the next version of the ecosystem with integrated and coordinated programs moving forward

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1. Brainstorming

Brainstorming Process

▪ Presentation boards for each of the seven Improvement Areas

▪ Break into seven equal groups – one for each presentation board

▪ Five minutes at each board and rotate

▪ Use stickies to record ideas and place on the boards

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Three Key Questions:

1. What existing programs and initiatives generate the best results?

2. What else is needed to fill the gaps?

3. What does the ecosystem need to stop doing?

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Keep in Mind…

▪ We are here to serve entrepreneurs – these ideas will be presented to the entrepreneurial community

▪ Express your ideas in the context of a “specific action, initiative or program” – something that can be implemented; don’t be too general

▪ This exercise will complement the mapping exercise for existing programs

▪ Don’t make assumptions on who is doing what

▪ Think about the different stages of an entrepreneur’s journey 20

Startup Development Phases

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Increase the quantity of high quality start-ups in the Edmonton region

What existing programs and initiatives generate the best results?

What else is needed to fill the gaps?

What does the ecosystem need to stop doing?

1.

Help grow scale-up (as opposed to start-up) companies in the Edmonton region.




2.

Increase the number of employable technology workers(for example in the areas of coding, QA, software and database support, analytics, SEO, etc.)




3.

Increase the quality and quantity of experienced senior leaders in functional roles (software architecture, product design and development, sales management, etc.)




4.

Increase the number of high quality networking or collision opportunities (people wanting to form teams and for existing companies wanting to access new technologies)




5.

Increase dilutive and non-dilutive financial support for start-up and scale-up companies




6.

Better leverage connections and support between traditional industry sectors and the innovation ecosystem




7.

Seven Improvement Areas:

1. Increase the quantity of high quality start-ups in the Edmonton region

2. Help grow scale-up (as opposed to start-up) companies in the Edmonton region.

3. Increase the number of employable technology workers (for example in the areas of coding, QA, software and database support, analytics, SEO, etc.)

4. Increase the quality and quantity of experienced senior leaders in functional roles (software architecture, product design and development, sales management, etc.)

5. Increase the number of high quality networking or collision opportunities (people wanting to form teams and for existing companies wanting to access new technologies)

6. Increase dilutive and non-dilutive financial support for start-up and scale-up companies

7. Better leverage connections and support between traditional industry sectors and the innovation ecosystem 29

Wrap Up & Summary

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Thanks!Next Session: September (Date TBD)

Reach out with follow up thoughts and/or ideas

Bruce [email protected]/in/brucealton

Future Topics for Discussion

Leave your ideas on the board

Evolving the Innovation Ecosystem...Ecosystem Programs: Gaps & Areas of Improvement Ecosystem gaps...

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