Incubator spawns Accelerator programmes

Aside

Incubator ‘DMZ’ spawns specialised Accelerator programmes and wins accolades for Toronto

Toronto is proving to be a hot spot for boosting businesses, with three local incubators and accelerators now ranked among the world’s top university-backed launchpads for startup companies.

​The Digital Marketing Zone (‘DMZ’) at Ryerson University, known for supporting Canadian tech startups like marketing company #paid, credit education company Borrowell, and photography website 500PX, has been ranked the top university-managed tech incubator in the world, tying with Bristol’s SetSquared.

Another local business launchpad, University of Toronto Entrepreneurship, took fourth place in the recently announced rankings. In the category of university-linked accelerators, the York Entrepreneurship Development Institute took the top spot, with three other Canadian accelerators rounding out the top four.

Since 2010, DMZ has incubated roughly 300 startups that have raised close to $400 million and created more than 3,000 jobs. Over the last few years, it opened an office in New York City, developed a sales accelerator program, and forged partnerships with banks and companies like Facebook to develop accelerator programs in digital news, financial technology and early market validation for women-led founders.

Sam Seo largely credits the Ryerson incubator with the success of his tech startup Livegauge, launched in 2013, which provides sensors for marketing events so companies can measure the level of engagement from passerby. The company now has more than $1 million in annual sales.

“I had a business idea to launch, but not really a plan to commercialize the business,” he said. “After we got into the DMZ for the first three years or so, they really helped us shape the business.”

John Whatmore, July 2018

 

Advertisements

SETsquared tops Trumps

Aside

SETsquared tops Trumps 

The top Incubator illustrates the range of support that can be offered to young businesses.

Karen Brooks of SETsquared, a partnership of five universities centred on Bristol, recently rated ‘Global Number 1 University Business Incubator’, spoke at a recent ‘Knowledge London’ meeting of leaders of university incubators about the six programmes – at a variety of levels in the innovation pipeline and in various sectors – that SETsquared runs; and added that it was all about a mutual relationship with industry – understanding what business wants; and she commented that SETsquared had no academics on its staff.

The most striking contrast, I suggested at that meeting, between Accelerators most of which are branded ‘pop-ups’ (as c.12 week programmes) and Incubators many of which are in universities, is that the former:

  • are more involved with their businesses
  • provide more input and support,
  • have many more contacts with the business world.

But SETsquared is a leader in all of these respects.

At the Pervasive Media Studio at Wastershed, Bristol – a twelve month home to a dozen young businesses, over lunch together on a Friday everyone has to talk about their progress, about which notes are immediately circulated so that teams can meet up to learn from one another’s experience. Jim Milby, until recently a Director of Barclays Bank, who mentors at Startupbootcamp, insists on a weekly review with his team wherever he is a mentor. Paul Miller, one of the authors of Nesta’s The Startup Factories, and founder of Bethnal Green Ventures – a winner of a major grant from the Cabinet Office’s Social Enterprise Startups programme – holds a review once a week with every team in the Accelerator. At ‘Office Hours’, he asks the same questions of each team “What did you achieve last week, what will you do next week, what is stopping you; and what have you learned”.

Accelerators provide more input and support, especially in the form of mentors, notably with specific advice eg on design, potential customers, fundability etc – often in a ratio of four or five to every team. Techstars, Startupbootcamp and Wayra Lab all have around 150 mentors for each programme, (as does SETsquared,) among whom two or three are regularly attached to each team; and Seedcamp has even more.

As does SETsquared, they have many more external contacts with local practitioners, experts and entrepreneurs in businesses in the sectors in which their young businesses are involved, upon whom they can call for specific help. Moreover their leaders are often entrepreneurs themselves.

Incubators are still essentially providers of office space more than they are facilitators of business development, but it takes little (often only a canteen) to encourage their occupants, who are all on the same growth path, to draw from others’ experience and find the essential help that they often did not know they needed!

John Whatmore, November 2016

Chair of Praxis/Unico high-lights its roles

Aside

Chair of Praxis/Unico high-lights its roles –
as sharing best practice and training

One of the biggest issues for Technology Transfer Offices is that senior academics do not value the staff of Technology Transfer Offices as highly as they do corresponding experts from outside the university. Among the more useful advisers for their academics who have commercialisable IP or business opportunities are university alumni who are in industry, especially those with knowledge of markets and marketing, technologies, strategy, and finance, and those with previous experience or extensive connections in the business world.
To have the expertise to identify or to support opportunities for commercialisation or help them to find funders or partners in the corporate world would require a range of knowledge and experience in all sorts of fields well beyond the capabilities of most Technology Transfer Offices.
Collaborations such as the IP Group, N8 and SetSquared have taken on these roles. Smaller universities with less of a portfolio of potential spin-outs do not have the funds to nurse them to the buy-out stage; so they need to work together.
Praxis/Unico has two main roles: high-lighting best practice and training new entrants; and judging by the way overseas organisations find their way to it for help and advice, it has much to offer. The revival of its Directors Forum is an important step in advancing these roles; and provides opportunities to capture and disseminate best practice.

June 2014