"Time to Scale Up" at SaaS North 2016
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CEO of OMERS Ventures John Ruffolo explains why Canada's startups need to scale up into globally competitive firms that employ thousands.
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"Time to Scale Up" at SaaS North 2016
- 1. TIME TO SCALE UP John Ruffolo OMERS Ventures CEO December 2016
- 2. WE DON’T HAVE A START-UP PROBLEM 1
- 3. STAGE OF DEALS Capital raising has been consistently strong since 2012 2 Illustrative Start-up Financing Lifecycle Breakeven Valley of Death Friends & Family Up to $500K Angels $500K - $2MM VC Round B $10MM - $30MM VC Round C $30MM - $100MM IPO $100MM + OMERS Ventures Target Stages VC Round A $2M - $10MM Early Stage Year 2 Later Stage Years 3 - 6 Liquidity Event Year 7+ Seed Financing Year 1 Start-up
- 4. We need Canadian start-ups to be able to scale up… Into globally competitive firms That generate revenue Employ thousands of Canadians And contribute to our tax base, maintaining public investments HELPING CANADIAN INNOVATORS TO SCALE UP 3
- 5. “Extraordinary value creation cannot occur without growth, and entrepreneurial growth, post-start-up, has numerous challenges which can be an order of magnitude more difficult than simply starting a venture.” - (Daniel Isenberg, Babson College) HOW DO WE GET THERE? Let’s recognize – this will not be easy: 4
- 6. A GOVERNMENT POLICY PLAYBOOK ACCESS TO CUSTOMERS ACCESS TO CAPITAL ACCESS TO TALENT Standard Setting/Regulation Intellectual Property / Copyright Global Trade, Government, Large Corporation Procurement International Corporate Taxation Attract Domestic, International Educate, Retrain Hire, Compensate Personal Taxation SRED Risk-based capital Incubators, Accelerators Lifecycle of an innovation-based company $0 $10MM $100MM $1BB+ Score = 0 Score = 8 Score = 4 REVENUES Government Scorecard
- 7. • Taxation of stock option • Temporary Foreign Worker Visa • Immigration • Government Procurement • SR&ED • More coming … PROGRESS THUS FAR 6
- 8. • More scaled-up Canadian innovation firms competing on world stage • And a better developed, more scaled-up ecosystem • This will position us to be acquirers, rather than always the acquiree. WHAT DO WE NEED? When it comes to innovation, we need: 7
- 9. With collaboration and bold action, we can scale up! HOW CAN YOU BE A PART OF THIS? 8
- 10. John Ruffolo Chief Executive Officer 416-369-3725 jruffolo@omersventures.com OMERS Ventures 200 Bay St Suite 1410, South Tower Toronto, ON M5J 2J2 THANK YOU! OMERS Ventures 9