Entries Tagged 'Montreal' ↓
November 19th, 2010 — Blogging, Family, Montreal, Seed investing and entrepreneurship, Work life balance
I live in Montreal, Quebec, Canada, one of best cities in the world. As of 2005, more than 3.6 million people lived in the MontreaI metropolitan area. I love Montreal for many reasons. It is diverse and international with close to 1 million people members of 80 vibrant ethnic communities: Haitian, northern Africans, Italian, Greek, Arab, Chinese, Southeast Asian, Berbers, Russian, Jewish, Brazilian, Portuguese, Germans, Scottish, Spanish, Lebanese, Polish, etc. It’s bilingual (French and English), the second largest French city in the world (after Paris) and hundreds of thousands of people have a different native language.
Montreal is also pro entrepreneurship, pro enterprise and pro startups with low corporate taxes, the best research and development tax credits in the world (free money for tech companies, up to 80% of R&D spending) and government support for the venture capital industry. Real Ventures just closed a $50M seed fund that will invest in 50-60 startups over the next 3-4 years. Montreal has a 60 member strong angel network that meets every month. There are 2-5 startup events every week, from product camps, to demo camps to UIX events. The city also counts half a dozen incubators/accelerators. Montreal is close to major North American cities including Toronto, New York and Boston (1-hour flight) and between a 4-5 hour flight away from San Francisco and Los Angeles. Montreal is very well positioned for the new convergence of Mobile, Gaming and Web. Some of the largest gaming studios are in MTL, including Ubisoft, EA and Warner. Nokia and Ericsson have hundreds of employees in Montreal. Montreal is world renowned for its machine learning, natural language processing and operations research talent, and the local web development community is thriving.
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October 26th, 2010 — Blogging, Make the world a better place, Montreal, Seed investing and entrepreneurship
After a long journey which started in 2007 with the creation of Montreal Startup, Real Ventures, a $45M seed fund, is finally here.
For those of you who don’t know, Montreal Startup is a $5M seed fund that was founded by John Stokes, Daniel Drouet, Alan MacIntosh, Austin Hill, and yours truly. Mark MacLeod has since joined the team for Real Ventures. We invested in 15 web, mobile and software companies between February 2008 and March 2010, including Beyond The Rack, Status.net, Whatsnexx, Vanilla Forums, Recoset, mConcierge, Oneeko and SocialGrapes. For the majority of our investments, we were the first money in, acting as the lead investor. We hold board seats in most companies. Montreal Startup was created for two reasons. First, we all shared a passion for entrepreneurship. I for one love entrepreneurs. I believe they are the driving force of change, innovation and evolution, our modern day conquerors that are making our future. They are are future leaders. Participating in the shaping of these men and women and supporting them in the building of their respective empires is a fulfilling and gratifying experience. We also started Montreal Startup to take advantage of what we believed was a disruption in how technology companies were being built and financed. In fact, we set up the fund to test the following assumptions which are now some of the pillars of Real Ventures’ investment strategy:
1- The cost of getting a company from idea to the validation of the business model is now 10X less than what it was 5-10 years ago and is no more than a few hundred thousands $ for consumer Internet companies and less than $1M for companies targeting the enterprise:
a) The evolution of opensource platforms and development frameworks means that software or web services that used to take a team of 6 people over a year to build now takes 2 people less than 3 months. In addition, software infrastructure costs are zero (operating systems, databases, etc.)
b) Because of the cloud, hardware costs (servers, storage, bandwidth) are now directly proportional to utilization, meaning that startups can get started for less than $100 per month;
c) There are now many platforms with more than 100 million active users that are seamlessly accessible to third party apps, software and web services providers including Facebook (500M +), Twitter (200M+), Iphone and ipod touch (more 250M+), Android (250K new activations per day), Google search and adwords, Google Apps, Gmail, Salesforce AppExchange, Amazon, etc. These platforms allow companies to transact with their customers with one click in many cases. Combined with a blog and media industry dedicated to technology, it now costs very little for a startup with a good product to get access to customers. Continue reading →
October 21st, 2010 — Blogging, Make the world a better place, Montreal, Seed investing and entrepreneurship
Buying local is hot. It is being mentioned by scholars and influencers as a way to reduce our toll on the environment. It also means buying goods and food produced and grown by local companies. When you buy local, you support your community. Your money goes towards quality and freshness as opposed to packaging, refrigeration, freight, fuel, etc. It’s healthy, good for the environment and the local economy.
There must be a way to apply these same principles to our local startup community
I had an interesting call last week with Martin-Luc Archambault, co-founder of incubator Bolidea. Martin-Luc was telling me about how he had heard that Techstars, the very successful and expanding accelerator co-founded out of Boulder, Colorado by Brad Feld of the Foundry Group and David Cohen was inciting its applicants and graduates to use products and services offered by other Techstars companies whenever possible. He pointed to Sendgrid, an email delivery platform and Techstars graduate as an example of that. Martin-Luc’s point was that we have a growing startup community in Montreal with great startups building world class products, and we need to do a better job at supporting them. He has since switched to Cakemail for email delivery, a local company, which he claims has the best product out there. Continue reading →
October 20th, 2010 — Blogging, Montreal, Relationships, Seed investing and entrepreneurship, Startup Lessons
On Friday, September 10, 2010, I biked to work, like I try to do 1-3 times per week. It was a beautiful sunny day with barometer over 20 degrees Celsius. I got on my bike at around 5PM to head to Suite 701 Lounge, the trendy bar and restaurant of Hotel Places d’Armes, one of Montreal’s finest boutique Hotel located in Old Montreal, to attend my good friend and partner Mark MacLeod’s 40th birthday party. It was rush hour and the city was buzzing with activity: people on the streets getting out of work and ready to start the weekend, traffic, bixis, the works. I work downtown which is directly at the base of the Mount Royal and at a higher elevation to Old Montreal. As I was coming down Beaver Hall, a small street that feeds into Square Victoria where The Montreal Stock Exchange, the Hotel W, and the CDP headquarters are located, I started to pick up speed to reach about 35KM/h. About half way through the hill I hit the breaks to prepare to stop at the red light about 50 meters below. To my surprise, although I stopped picking up speed, I wasn’t slowing down. I was on the right side of the street, headed for trouble. My first reaction was to look back to see whether I could cross the street in an attempt to slow down. No car, so I made a tight left turn but still no breaks. I was now less than 25 meters from the red light, on the left side of the street with a car parked right in front of me about 10 meters away. I had two choices: go through the red light and hope for the best or jump off the bike and get hurt. Continue reading →
October 17th, 2010 — Blogging, Health, Montreal, Work life balance
When the weather and my schedule permits, I like to bike to work. I work in Montreal, one of the best cities in the world. The city gets it name from the old French words Mont and Réal which translate to Mount Royal, the name of the small mountain at the center of the city-Island. I live on the south shore of Montreal and our wonderful bike paths give me a few options. I have two favorites. The first one (19KM) sees me heading east right on the south shore of the St-Lawrence River, under the Champlain Bridge and through the lock in St-Lambert where I cross. I then get on the Circuit Gilles-Villeneuve, home of the Montreal F1 Grand Prix. The circuit is opened from spring through fall for bikers and roller-bladers to enjoy. I then ride by the Montreal Casino, cross the Concorde bridge, ride by the funky looking apartments built for expo ‘67 and soon arrive in the heart of the city. The second one (35KM) sees me heading west and then north, again on the south shore of the river and through La Prairie and Ste-Catherine, two charming little towns. I cross a small bridge to get on a beautiful strip of land, right in the middle of the St-Lawrence River where I’m surrounded by trees and water on each side. This path takes me to Verdun and then Pointe-St-Charles through Iles-des-Soeurs, following the beautiful Canal Lachine, or to the Circuit Gilles-Villeneuve. Here’s a map of the bike paths in and around the city. It’s a beautiful ride and a great way to start and end the part of my days I spend in the office. Get’s me to break a sweat and oxygenate my brain and body. I can shower at the YMCA next to my office. The short way takes me a bit more than 45 minutes (5-10 minutes more than if I take my car during rush hour) while the long way takes me about 75 minutes. I usually try to take my bike 1-3 times per week. The bike days are my favorite. Continue reading →