Originally released on October 4th 2023, this episode of The CIBC Innovation Banking Podcast is part of our renewed focus on highlighting exceptional conversations within the American Innovation Economy. Join us as we revisit these insightful discussions and shine a light on the ongoing innovation that shapes our industry.Angela Tran didn’t set out to be a venture capitalist; she wanted to be an engineer. However, she's leveraged the skills she learned as an engineer to help build Version One Ventures with partner Boris Wertz, a venture capital firm that has invested in some of today's biggest start-ups. Angela uses her background to approach problems from a unique perspective to find and invest in companies in their very earliest stages. She looks for founders who are driven by problems they themselves have experienced- and who will stop at nothing to solve them. Open to Opportunities Angela's journey toward her current role involved embracing every opportunity that came her way. She never turned down meetings, believing that each encounter could lead to valuable connections. Angela emphasizes the significance of the people she has met along the way and the  pivotal role they have had in shaping her career. Know Your Mission Angela and Boris share a strong inclination toward mission-driven founders who strive to address immediate problems. d She observes that many founders tend to focus on macro trends and problems that lack the imperative for change. In the absence of reliable metrics during early-stage investments, Angela and Boris instead concentrate on assessing the potential impact a company can have on the world. They focus on  “who” and “why now” principles.Think outside the boxWhen she first met Boris, Angela created a dataset to try to uncover what startups would be successful. While it didn’t work- Boris appreciated her out-of-the-box thinking.. When approached by entrepreneurs, Angela is drawn to individuals who exhibit that same determined drive to solve problems in innovative and captivating ways.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking 

Originally released on January 10th 2024, this episode of The CIBC Innovation Banking Podcast is part of our renewed focus on highlighting exceptional conversations within the American Innovation Economy. Join us as we revisit these insightful discussions and shine a light on the ongoing innovation that shapes our industry.In this episode, Krishna Srinivasan, the founding partner at LiveOak Venture Partners, and Jonathan Schupack, executive director and market lead for CIBC Innovation Banking in Texas,  share their insights and experiences about the challenges and triumphs faced by startup entrepreneurs in the lone star state. Join us as we uncover the secrets of successful entrepreneurship. Drawing parallels between climbing mighty mountains and building ground breaking businesses, discover the resilience, innovation and collaborative spirit that define the Texan startup scene.The power of cross-pollinationKrishna sees parallels between mountain climbing and entrepreneurship. Taking that first step, whether on a mountain or in a business, is crucial. The challenges faced by startup entrepreneurs to climb a virtual mountain require us to break down the journey into smaller, manageable steps, celebrating every little victory and constantly striving to improve. Reflecting on what works and what doesn't is key to not giving up before the peak. That's reflected in the startup community in Texas. It's a diverse economy and there is a supportive ecosystem. There's a combination of deep industry knowledge and technology talent that makes Texas a thriving hub for startups and innovation.Sustainability is keyKrishna stresses the importance of building sustainable businesses, pointing out how excessive capital can mask underlying issues. He advises entrepreneurs to focus on product market fit before expanding into sales and marketing efforts, advocating for a sequential approach, the need for flexibility in adapting to changing market conditions and being prepared for shifting goalposts and fundraising efforts is critical for successThere is a need for native later-stage capitalJonathan says that while there is a bit of a slowdown in VC funding, the Texas innovation economy remains resilient, with a diverse ecosystem and opportunities for growth. However, he notes a gap in native later stage capital, suggesting that while the state attracts attention, there's room for increased investment from within Texas. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Originally released on January 24th 2024, this episode of The CIBC Innovation Banking Podcast is part of our renewed focus on highlighting exceptional conversations within the American Innovation Economy. Join us as we revisit these insightful discussions and shine a light on the ongoing innovation that shapes our industry.Morad Elhafed and the rest of the team at Battery Ventures in Boston believe that it's time to get back to fundamentals and build durable and scalable businesses. He is joined by Andrew Phillips, managing director in Boston of CIBC Innovation Banking. Morad and Andrew share their insights into the current investment landscape, how investors identify high-quality companies, and why Boston has become a hub of talent and investment.Every dollar needs justification In today’s investment landscape, investors and founders need to justify every dollar. Investors are looking for scalable and durable investments, and founders need to be able to prove that they are using funding wisely. Innovation comes from everywhereTraditionally, most tech innovation was coming out of Silicon Valley, but today, it's coming from around the world. Looking for leaders in the marketMorad says he and his team search for leaders in their markets, whether they are small or niche. Leaders often have strong leadership and a clear path to profitability. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Originally released on May 4 2022, this episode of The CIBC Innovation Banking Podcast is part of our ongoing celebration of meaningful dialogues with our listeners. As we highlight some of our standout episodes featuring trailblazers and icons in the Innovation Economy, we recognize the enduring relevance and value of the insights shared. Join us as we revisit these dynamic discussions and showcase the innovation that continues to define and drive our industry.As every startup entrepreneur and enterprise CEO knows, the growth stage is all about scaling up the company, which typically requires a cash infusion. That's where investment gurus like Deven Parekh come in. As a Managing Director at Insight Partners who has been with the firm for more than 22 years, Deven has some insightful advice to share for entrepreneurs hoping to secure funding to fuel their business. Over the course of his career, the companies he’s invested in have all had major payouts—Buddy Media was acquired by Salesforce, Football Fanatics was bought by GSI Commerce, and eventually eBay, and Media Mind was sold to DG Fast Channel after the IPO. During this episode, the global investor shares the top qualities he and his team are looking for in software companies worldwide.On the lookout for large marketsDeven shared a few of the main characteristics he and his team are looking for when it comes to finding businesses to invest in. First, he said they’re most interested in targeting large markets to maximize growth opportunities. In addition, they look for businesses with a technology product that’s not easy to replicate so they can keep competition at bay, and an exponential increase in momentum in terms of buyer interest. And last but not least, Deven noted they typically look for solid teams with great management leaders who truly feel passionate about the problem they’re helping to solve. In-person interactions minimize riskAs the pandemic continues to subside over time, more of its long-term impacts on the business world will be revealed. Deven commented that for investors, arranging in-person meetings followed by dinner or drinks isn’t just a nicety—it can actually help to minimize risks by building trust on a personal level. Although many companies will continue to use tools like Zoom and a hybrid working environment for the sake of convenience, meeting in person will continue to play an important role in creating a foundation of trust and collaboration among teams.Invest in your passionsDeven’s overall advice to entrepreneurs was to choose a problem that you’re passionate about solving and make it the main focus of your business. While it can be tempting to dive into hot new trends in the market, he recommends following your passion instead because you’ll be more likely to actually find a solution to the problem you’re trying to solve. Deven commented that people tend to complicate the road to success, but it’s really quite simple: identify a pain point, work on solving it, and convince customers to buy your product.CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. Get in touch with our team at cibc.com/innovationbanking. This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Originally released on November 20th 2020, this episode of The CIBC Innovation Banking Podcast is part of our ongoing celebration of meaningful dialogues with our listeners. As we highlight some of our standout episodes featuring trailblazers and icons in the Innovation Economy, we recognize the enduring relevance and value of the insights shared. Join us as we revisit these dynamic discussions and showcase the innovation that continues to define and drive our industry. The Four Pillars of UnseparationLeadership, culture, spirituality, and nature. Dax Dasilva is a Philosopher CEO, and his latest book “Age of Union: Igniting the Changemaker” and sees these four qualities as essential for corporate growth. “The idea behind that is, how do you make change in the world? What are the things that you have to think about together holistically in order for us to make impact?” he says.Leadership is more than a Type-A personalityDasilva is a quiet force to be reckoned with, and admits he’s not a Type-A personality common in the corner office. Lightspeed is home to a variety of leadership types, offering a variety of voices and perspectives. He says, “We really believe that having many kinds of different kinds of people around the table and different kinds of leaders adds a richness and a wisdom and knowledge to the solutions that we come up with.”Never ApartAs Lightspeed outgrew its offices, it didn’t abandon the venue that hosted its early success. Dasilva turned it into a venue for hosting LGBTQ artists and speakers. “It's not just an art gallery. There's sort of a spiritual calling and trying to bring people together. And for the LGBTQ community, who's often by many communities been told we're not a part of spirituality, it's a kind of a vow for us to never be apart from that mission that we, I think, have as well.”Join Dax Dasliva as we explore Never Apart and Lightspeed’s corporate offices — and attitudes — with our #CIBCInnovationEconomy series, then listen to Dasilva discuss how diversity is the key to success on the CIBC Innovation Banking Podcast.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. 

Originally released on June 1st 2022, this episode of The CIBC Innovation Banking Podcast is part of our ongoing celebration of meaningful dialogues with our listeners. As we highlight some of our standout episodes featuring trailblazers and icons in the Innovation Economy, we recognize the enduring relevance and value of the insights shared. Join us as we revisit these dynamic discussions and showcase the innovation that continues to define and drive our industry.Often, the most valuable insights into startup strategy and execution come from early-stage investors. For burgeoning entrepreneurs, having a chance to learn the ropes from a seasoned founder can be invaluable when it comes to guiding the company towards sustainable growth and longevity. In this episode, Michael sits down with someone who knows all about this. As the Head of Operating Platform at Jump Capital, Jason and his team work closely with founders to help them build and scale effectively in their formative years. During the episode, Jason explains how the firm’s overall mission is to invest in early stage companies, partnering with the founders early on in their journey of building the company so they can be with them throughout the entire lifecycle of the business. Jason shares some of the most common mistakes made by new entrepreneurs, how to establish effective growth expectations, and more key insights about startup life.Make the most of mistakesWhen it comes to building a new company from the ground up, mistakes are inevitable. Instead of aiming to achieve the impossible task of avoiding mistakes altogether, Jason suggests learning to quickly pivot and learn from any missteps along the way. Having someone on your side who has been through the founder’s journey can also help you make fewer mistakes overall, while minimizing the impact of those you can’t avoid. Opt for sustainable growthIn the early stages of a company’s development, focusing on growth should be a key priority. However, Jason reminds us that prioritizing growth at all costs can lead to some pretty detrimental consequences in the long run. For new founders, Jason recommends avoiding unrealistic goals and instead focusing on smart, sustainable growth to ensure the company has longevity into the future.Focus on peopleJason’s number one tip for entrepreneurs and early stage CEOs is to make people your top priority. In other words, if you hope to see your company flourish and succeed in the long run, it’s important to dedicate a significant chunk of your time to hiring and retaining top talent. Spending the extra time it takes to motivate, guide and communicate with your team to help them bring your vision to life will ultimately pay dividends for years to come.CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill. 

Originally released on June 2 2021, this episode of The CIBC Innovation Banking Podcast is part of our ongoing celebration of meaningful dialogues with our listeners. As we highlight some of our standout episodes featuring trailblazers and icons in the Innovation Economy, we recognize the enduring relevance and value of the insights shared. Join us as we revisit these dynamic discussions and showcase the innovation that continues to define and drive our industry.  Bob Nye is a General Partner at JMI Equity. He joined JMI in 2005 and is based in Baltimore, Maryland. Nye’s primary areas of investment focus are internet and enterprise software companies, and he specializes in helping growth companies build value. Nye has helped many companies overcome their hurdles and grow into unicorns with a valuation over $1 billion. In this episode, we look at the unique challenges in scaling and funding Canadian start-ups.Investment strategies have evolved over three decadesIn the early days, you were investing in an idea. The entrepreneur would typically have experience within that industry, understand the pain points of that business, and what the customers would need. This is what investing looked like 30 years ago, but if we fast forward to today, businesses need to be much bigger if they’re looking for a sizeable investment. On average, when JMI Equity invests in a company, they have $35 million in revenue, revenue growth of 35% year over year, along with an established product market fit. Because companies have established product market fit, there is primarily “execution risk” which is very different from early stage ventures when investors are taking on all the risk.  How do you get from $1M to $50M in revenue? The traits, skills and characteristics of an entrepreneur that make them successful early on are often the polar opposite of what will make them successful as their company evolves, says Nye. The key to scale is to have incredible customer centricity, and maniacally focus on your customer experience. The second factor is to ensure that you have great functional leaders. A great entrepreneur knows exactly when it’s time to step aside and let somebody else manage the day-to-day so that they can focus on the company's larger vision and strategy. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Originally released on October 19th 2022, this episode of The CIBC Innovation Banking Podcast is part of our renewed focus on highlighting exceptional conversations within the American Innovation Economy. Join us as we revisit these insightful discussions and shine a light on the ongoing innovation that shapes our industry. In this episode, Michael Hainsworth sits down with Tom Dretler, the co-founder and CEO of Shorelight. Founded nearly a decade ago, the company matches international students with universities in the United States, and helps them succeed socially and academically. During the episode, Tom shares how he had to go back to school—metaphorically speaking—when the pandemic collapsed demand for international education opportunities in 2020. He also explains why the economic downturn that followed  has led Shorelight to revisit the way it plans on funding its future. Tie profitability to your missionWhen Tom and the team were first conceptualizing the idea for Shorelight, they knew they wanted their goal to ultimately be helping students successfully graduate and begin their careers. As a result, when they began designing their business model, they decided to walk their talk by tying their profitability directly to student outcomes. That way, they were constantly measuring themselves as a business driven equally by mission and profit.What you do is important, but who you do it with is more importantUnderstanding the value of building the right company culture is crucial for any business leader. Tom mentioned that while he was a student at Harvard Business School, the Dean of the school took the time to have a coffee with him and he told him something he’ll never forget: what you do is important, but who you do it with is more important. With a 91% Glassdoor rating, it’s clear that Shorelight lives by this maxim on a daily basis.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Originally released on November 2nd 2022, this episode of The CIBC Innovation Banking Podcast is part of our ongoing celebration of meaningful dialogues with our listeners. As we highlight some of our standout episodes featuring trailblazers and icons in the Innovation Economy, we recognize the enduring relevance and value of the insights shared. Join us as we revisit these dynamic discussions and showcase the innovation that continues to define and drive our industry.The pandemic’s impact on startups, growth-stage companies and late-stage organizations continues, and geopolitical issues have also had a dramatic impact on the private equity markets. No one knows this better than Ran Ding. Ran co-leads B2B growth equity investments at Norwest, where he focuses on partnering with founder managed or capital efficient businesses looking to scale from double digit revenues to triple digit revenues. Norwest is a multi-stage investment firm that has delivered top quartile returns over the past 60 years, and seen its fair share of economic cycles. Ran cut his teeth more than a decade ago during the last financial crisis, and shares his perspective on the similarities he sees today.COVID-19’s impact continuesAs a result of the worldwide societal changes brought about by the pandemic, the timeline to build a relationship has accelerated as companies become more comfortable meeting over video conferencing platforms. While this has led to a more fluid exchange, it's also led to an increased focus on finding mission-driven career paths for employees, with the pandemic creating more remote work opportunities than before. Play the offensive With a long history under its belt, Norwest has seen plenty of ups and downs in the market along the way. During times of turmoil, Ran says their team has found it’s best to remain in constant communication with clients to help them stay prepared. And in some cases, there’s also the opportunity to selectively play offense in a very disciplined way to keep an edge against the competition.Build a foundation of trustWhen it comes to scaling a company and encouraging leaders to delegate responsibility, Ran believes that first and foremost, it comes down to building a strong foundation of trust. At Norwest, the team spends a lot of time building relationships with people before they even make an investment—in some cases for many years—to ensure they understand each other culturally, interpersonally, and are aligned in terms of their operating philosophy.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Originally released on November 24th 2021, this episode of The CIBC Innovation Banking Podcast is part of our renewed focus on highlighting exceptional conversations within the American Innovation Economy. Join us as we revisit these insightful discussions and shine a light on the ongoing innovation that shapes our industry. Financial planning startup Vena Solutions has raised more than $400 million to fuel its growth. When you've got that kind of walking around money, you need to have a plan to turn that capital into new customers, enhanced products, and recurring revenue. In this episode,  we hear from Vena Solutions’ Chief Operating Officer, Tina Goulbourne, on the key priorities required for startup success. Tina has held key roles during her career at companies like Xerox, Hewlett-Packard, and Apple, and she leans on those experiences to help guide her in her current role at Vena Solutions. During our discussion, Tina shares the story of how she ended up in her current role at Vena Solutions as well as some of the key lessons she’s learned about the startup mentality over the course of her career.Turn towards, instead of awayAlthough Tina was happy in her previous role at Apple, she was intrigued by the opportunity to join Vena Solutions for a variety of reasons. First, she knew the company’s CEO and entire leadership team would be excellent to work with given their humble, grounded, yet committed approach. In addition, Tina was interested in the opportunity to learn more about the product and build something new from scratch. Ultimately, these positive qualities stood out to her and she allowed them to serve as the guiding force in her next career move. Take notes from AppleDuring her time as Apple’s Sales Planning and Operations Leader, Tina learned a few tricks of the startup trade. First, she learned the importance of prioritizing data when making decisions and measuring success. She was also influenced by the company’s focus on transformational improvement rather than incremental improvement—that is, rather than making small tweaks to the existing approach, there should always be a willingness to go back to the drawing board if something isn’t working. Finally, Tina learned the value of placing a strong emphasis on improving the customer experience, every step of the way.Focus on sustainable growthTina noted that at the beginning of the startup journey, the focus is primarily on getting as much business in the door as possible. However, once companies enter the scale-up phase, they need to be strategic about finding ways to grow sustainably. At Vena Solutions, part of the company’s approach is to determine the biggest growth accelerators and inhibitors so they can zero in on strategies for expansion while removing potential barriers to success.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Originally released on October 27th 2021, this episode of The CIBC Innovation Banking Podcast is part of our ongoing celebration of meaningful dialogues with our listeners. As we highlight some of our standout episodes featuring trailblazers and icons in the Innovation Economy, we recognize the enduring relevance and value of the insights shared. Join us as we revisit these dynamic discussions and showcase the innovation that continues to define and drive our industry.Kelly Schmitt successfully guided the CSR platform for charitable donation management, Benevity, throughout her tenure as Chief Financial Officer, and later President. Today, the Canadian company is a billion-dollar organization with more than 650 employees, two million users, and $7 billion in processed donations to 300,000 global charities, and Kelly has transitioned to the role of CEO. In this episode, Kelly shares her story of assuming the coveted C Suite at Benevity, how she overcame self-doubt, and the true meaning of a growth mindset in business.People and culture trump allKelly shared that while working as Benevity’s CFO and President, the company’s founder approached her about taking over the position of CEO. Initially, she balked at the suggestion, assuming that the role of CEO should be reserved for the best salesperson, thought leader or visionary in the room. However, she quickly realized that being a great CEO goes beyond a solid resumé — it’s about aligning well with the company’s people and culture, and embodying the organization’s overall values.Embrace changeTo Kelly, a growth mindset means embracing the idea of constant and never-ending improvement. She believes that to continue being a leader in the market, companies need to constantly be evolving, innovating, and disrupting. This requires a high level of self-reflection but also a willingness to grow, stay humble, and accept feedback. Kelly notes that a growth mindset is really about looking at things through a long-term lens instead of focusing solely on short-term gains.Diverse teams are more successfulFrom the outset, Benevity’s founder made it a priority to build a diverse team, not by setting specific targets, but by building a culture of inclusive behaviours and solid values. The company’s team is now 51% women and 30% BIPOC, which Kelly says has directly translated into a higher performing business. Kelly referenced some of the built-in behaviors that help Benevity maintain this inclusive culture, such as a progressive parental leave program and gender pay equity initiatives.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Originally released on November 15 2023, this episode of The CIBC Innovation Banking Podcast is part of our renewed focus on highlighting exceptional conversations within the American Innovation Economy. Join us as we revisit these insightful discussions and shine a light on the ongoing innovation that shapes our industry.According to Marcos Torres, investing is more serious than getting married. The CFO of Huntress, a managed security platform developed by former NSA employees, says that investing just isn't about money. He looks for partners who he can work with long-term, because he knows it can be far more difficult to get someone out of a company than of a marriage. Join him and host Micheal Hainsworth as they delve into what Marcos has learned on his journey from private equity owned business operator turned CFO, raising equity before you need it, and the nonlinear growth of organizations. You need more than just a plan BMarcos stresses the significance of having not only plan A and B, but also plan D. Too many entrepreneurs seek cash only when they are in trouble, but Marcos advocates for "digging the well before you're thirsty." By seeking partners, building relationships, and raising equity in advance, you position yourself to find the right investors and partners for your business.Find the intersection of pain pointsMarcos knows that every customer's pain points will be unique to their business. Companies may belong to the same category, but that doesn't mean the issues they need to address are identical. That’s why he encourages entrepreneurs to find the intersection of the pain points across the category they are targeting. Huntress focuses on small to medium businesses that live under the ‘cyber security poverty line,’ and by finding commonalities in their security pain points, has built a product that can scale and build a robust customer base. People are the most expensive part of softwareWhen tackling a problem, Marcos and his team prioritize technology. They first identify the problem and how technology can solve it, then consider the people involved. People are the costliest aspect of technology, so optimizing the process before identifying the required team members helps create a scalable business.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

In a conversation with host Michael Hainsworth, Andrew Waitman, CEO of Assent, a data management platform that informs and guides ESG strategy, delves into the evolving landscape of ESG (Environmental, Social, and Governance), and the importance of responsible supply chain management. He underscores the growing scrutiny from stakeholders, investors, and the public, who now prioritize ESG and sustainability in their decision-making processes. Andrew warns that organizations failing to adapt will encounter repercussions both in terms of their reputation and financial standing.Best practice is no incidents When questioned about the significance of investing in ESG, Andrew draws a parallel with cybersecurity. In the realm of cybersecurity, organizations aim to prevent security breaches through investment in programs and systems. Similarly, in the context of ESG, proactive investment is imperative for uncovering and addressing issues early, and averting potential financial and reputational consequences down the road.ESG reporting will be the new financial reportingAndrew highlights the century-long evolution of strictly regulated financial reporting and foresees a similar trajectory for ESG reporting. In the near future, Andrew believes companies are likely to face similar mandates to disclose their sustainability practices.Founders are responsible for setting their valuesAndrew asserts that it falls upon founders to integrate ESG and sustainability into their organizations and disclose these values to stakeholders, employees, and the broader public. He underscores that this integration has become vital for attracting investment and fostering organizational growth. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Bow River Capital is an employee-owned diversified investment platform that specializes in the lower middle market. John Raeder, the Vice Chairman and Head of Software Investments, launched the Maiden Fund in 2018, a Software Growth equity fund at Bow River, which was oversubscribed by $160 million dollars. John focuses on what he sees as a capital gap in the lower middle market, helping SaaS companies grow from $5 to $50 million by strategically investing to accelerate their growth. Clearly, his strategy is working, as five of Bow River’s seven SaaS companies are growing subscription revenues at 100%, and Bow River is one of the top ten funds in the US. You can't fix bad industries John stresses that while you can fix bad companies, you can't fix bad industries. This perspective drives the efforts of John and the Bow River Capital team in rigorously evaluating and scrutinizing industries before investment. He and his team are attracted to companies in human capital management, fintech and construction tech because these technologies help solve operational efficiencies and improve cost structure monitoring.  By exercising caution during periods of prosperity, investors can minimize the effects of inevitable downturns. Founders should lean on the expertise of their investorsJohn says that founders need to trust and rely on the expertise of their investors. The Bow River team has 80 years of operational experience and puts each company they plan to invest in through a rigorous diligence process. Once they’ve decided to invest, Bow River Capital focuses on building strong relationships with its founders. This approach ensures that, in times of adversity, established relationships serve as valuable resources, offering guidance and specialized knowledge.You can’t brand your way to growthJohn believes that branding alone cannot grow a company from $5 to $50 million. When investing, John and his team don’t invest in TV commercials or print ads. Instead, they allocate roughly 40% of the capital to sales and marketing acceleration and roughly the same to innovation and product-led growth. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Malcolm Locke, CFO of UK-based B2B software service company Egress, sits down to discuss Brexit, expanding to North America and why the UK is still attracting investments. He’s joined by CIBC Innovation Banking’s Managing Director for UK & Europe, Sean Duffy, who adds his valuable expertise to the conversation. In a post Brexit and high-inflation environment, how can UK based firms grow and expand? Listen to this episode to find out. Access to talent is criticalMalcolm says that Brexit has impacted software companies' access to talent. The European job market has traditionally been critical for talent acquisition, so UK based companies are re-evaluating their strategies. And while they can’t easily recruit from Europe, they also can’t easily send their trained employees to these markets either. That’s why many UK based companies are turning their attention across the pond to the  North American market. It's about efficiency, not growthThe era of ‘free money’ is over, and so is the mentality of growth at all costs. Malcolm and Sean say that investors are looking for efficiency. They will invest in companies that are using their capital wisely and making their cash impactful. There is still an active funding marketDespite the current market conditions, especially those in the UK, there is still funding to be had. As Sean says, money can’t just sit around. Companies need to have high parameters and show investors they aren’t cash burners. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.CIBC London Branch (Reg. no. 141285) is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Registered at 150 Cheapside, London EC2V 6ET.

Maria Pacella has over two decades of experience investing in emerging growth technologies, and thinks that the best venture capitalists have a range of experiences gained through working in different roles. As an investor, Maria looks for three things: people, product and pent-up demand. She would prefer to invest in a strong team and founder with a smaller market than one with a large market and weak team, and brings this people-first approach to everything she does. In this episode, join host Michael Hainsworth as he and Maria dive into the Canadian investment landscape, what the current economic climate means for venture capital, and why now is the best time to start a business. It's all about the people.Maria's journey to venture capital was anything but straightforward, but she embraced the learning opportunities along the way. She emphasizes that your career is shaped more by what you gain from the journey, rather than formal education alone. Additionally, she advocates for corporate cultures that prioritize diversity of thought in decision-making, believing that such cultures flourish. People, product, and pent-up demand.A mentor once shared valuable advice with Pacella - a good investment comprises three essential elements: people, product, and pent-up demand. Taking this guidance to heart, she seeks out products backed by exceptional teams with smart capital allocation strategies. She also looks for products that offer tangible value propositions and address pressing problems. Especially in the current challenging climate, entrepreneurs and products that meet these criteria are more likely to attract investment and achieve success.Now is the best time to start a business. In today's economic climate, the era of "free money" has come to an end. Entrepreneurs now face greater challenges in securing capital, while investors have become more discerning with their investments. Pacella believes that this situation calls for businesses to be capital efficient and deeply focused on their mission and value proposition. Companies that can thrive amidst these conditions are well-positioned for future growth and success. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

In the business world, it’s never been more important for companies to build a brand that’s trustworthy, credible and authentic. Considering realness is the basis for her business model, StoryTap co-founder Bernadette Butler lives and breathes by this maxim. StoryTap turns consumers into evangelists—not by using fancy, high-quality video content, but through videos that consumers submit themselves. Offered now in nine countries, the patented video platform is revolutionizing the online customer journey, bridging the gap between the in-person experience and the online experience. In this episode, Bernadette explains why she believes the secret to StoryTap’s success is applying authenticity to the business model every step of the way.Harnessing authenticityOne of the major truisms that StoryTap is tapping into (no pun intended) is the fact that consumers today are craving authenticity above all else. Any company can manufacture a highly edited video that conveys a picture-perfect brand identity, but consumers want to truly understand how a product can add value to their life. As Bernadette noted, people want to see real people, telling real stories, and StoryTap’s success is living proof of this.Learn to love failureAs someone who has been through the experience of launching her own startup, Bernadette is skeptical of any founder who says they found success right out of the gate. A true over-achiever, she initially railed against the notion of failure, but as she gained experience, it became clear that failure was simply an unavoidable part of the process. Now, Bernadette says she loves failing because it serves as the key to unlocking the next level of business growth.Find the right co-pilotSince failure is an inevitable aspect of almost any business venture, it’s important to have the right people in your corner. When it comes to weathering the storms of startup life, Bernadette is grateful to have her co-founder Sean Braacx by her side. With an entirely different skill set from Bernadette, Sean brings a new perspective to the table, which can accelerate the brainstorming process.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Since it spun out from the wildly popular online media company TechCrunch in 2015, Crunchbase has been blazing its own trail. The company recently raised $50 million in a Series D round, and it comes at a difficult time for raising funds—not just for B2B software as a service, but for the industry as a whole. Nobody knows that better than Crunchbase’s CEO, Jager McConnell. In this episode, Michael and Jager explore how he managed to raise the funds, how he managed the uncertainty, and how his experience at Salesforce helped him drive Crunchbase to the level of success it's seen so far. Michael and Jager discuss the company’s latest funding round, the importance of giving back to the community, and some of the toughest lessons he’s learned while building an enterprise product.Set realistic business goalsIt’s been a difficult time for growth equity rounds. However, according to Jager, the decimation of multiples is a good thing for the ecosystem. When valuations are hyper inflated, the gap between a company’s current revenue and where it’s valued forces them to pursue aggressive growth at all costs. That’s why Jager believes it’s better for the entire ecosystem to set realistic valuations and achievable goals, rather than chasing unsustainable levels of growth.Focus on efficiency and measured growthJager compares the times we find ourselves in now to the dot-com crash of the early 2000s. Looking back, it was the companies that focused on rebuilding with efficiency and measured growth that came out on top, and he believes the same will be true of today. Ultimately, the great reset will enable us all to build back stronger and take advantage of new, more interesting opportunities in the future.Give back to the communityDuring his time at Salesforce, Jager learned about the value of giving back to the community. With its Pledge 1% program and regular charitable giving practices, Crunchbase is taking a similar approach. As someone who considers himself a social-driven individual, Jager has made it part of his mission as CEO to lead by example and champion charitable causes, inclusion and diversity.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

If you've ever filled out a survey online, there’s a good chance you've used technology created by Montréal-based company Potloc. The consumer research company extracts consumer insights by reaching niche audiences through social networks. In this episode, Michael sits down with Potloc’s Co-Founder and CEO Rodolphe Barrere. After co-founding the company in 2014, he and the team raised more than $58 million in capital. Today, Potloc has more than 500 clients served by three offices around the world, and Rodolphe says unicorn status is now on the horizon. During their discussion, Rodolphe dives into some of the secrets to his success including firing himself every six months.Don’t become your own bottleneckAs a leader, Rodolphe is humble enough to recognize that with every next step the company takes, he needs to re-evaluate if he’s still the best person for the job. For example, while the founder of a company may be a great small-size startup leader, they may not be able to apply their skills as effectively to a company of more than 1,000 employees. To avoid becoming the bottleneck of his own creation, Rodolphe consistently “fires himself” every six months so he can ensure he’s always innovating, learning and growing.Establish a networkAnother leadership secret Rodolphe shared is to surround yourself with people who are uplifting, positive and curious. He reminds us that you are the sum of the five people you spend the most time with, so it’s important to be selective about who is in your inner circle. Once you’ve established a solid network of people you trust, keep the lines of communication open so you can share knowledge, swap tips and trade stories regularly.Culture is crucialRodolphe’s key tip for other entrepreneurs hoping to reach unicorn status? Never underestimate the importance of creating a positive company culture. To do this, he suggests doing some inner reflection in the early growth stages of the company to determine your own personal values—for him and his co-founder, this included learning, transparency and ambition. From there, apply these values to every entrepreneurial decision you make along the way, and you can’t go wrong.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

There comes a time when some startup founders need to turn over the reins of their company to someone new. Some founders may hold on for too long and ultimately fail to accelerate the company’s growth, and others may move too fast and miss out on a chance to capitalize on the first mover advantage. In this episode, Michael sits down with Hootsuite’s new CEO, Tom Keiser, to discuss his plans for continuing to grow the company now that he’s at the helm and further build on what founder Ryan Holmes created. During his career, Tom has more than quadrupled the valuation of Zendesk, re-platformed the parent company of Victoria's Secret and The Gap for e-commerce, and most recently, he’s stepped into the role of CEO at Hootsuite to scale up the social media management platform. During the episode, Tom explains how he’s applying lessons from his past career experiences to his current role at Hootsuite, his plans for taking the platform to the next level, and much more.Keep up a cadenceDuring his time working in retail, Tom learned the value of maintaining a regular and rigorous cadence when planning for the future. When it comes to taking your business’s temperature through key metrics and signs of success, it’s not enough to check in once a quarter or even once a month. Tom adheres to a weekly or bi-weekly rhythm of checking in on the core metrics of the business to ensure short-term and long-term goals are on track.Lose the limitsOne major difference Tom noticed when he made the leap from retail to technology was the general lack of constraints in the tech world. While the retail world tends to be limited in a physical sense based on things like geographical space or supply chain issues, technology makes it possible to innovate much more rapidly without being held back by capacity limits. Since the tech world essentially affords infinite possibilities for the future, Tom looks for talent who live according to this limitless mindset.Skate to the puckWhen it comes to Tom’s overall strategy for taking Hootsuite to the next level, he plans on helping the company continue to evolve in tandem with the social media industry. By keeping his finger on the pulse of new and emerging social platforms, Tom and the Hootsuite team are skating where the puck goes to maintain alignment with the major players within the space. CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Professional investors need an efficient way to compare their universe of companies, which is where firms like Canalyst come in. Canalyst’s database of thousands of enterprises helps give the pros the edge they need to uncover more investment ideas, generate better returns and bring in more assets. In this episode, Michael sits down with Canalyst’s CEO and Co-Founder, Damir Hot. During their discussion, Damir shares how co-founding a tech startup has been a lifelong dream of his since he was a child. He offers his perspective on the state of startups today, and what the future may hold for the startup ecosystem. Finally, Damir shares some of the key strategies Canalyst implemented to grow its customer base to over 400 in a relatively short period of time. Partner upNow that he’s on the other side of success with Canalyst, Damir says he highly recommends partnering with a co-founder from the beginning of your entrepreneurial journey. If you can find a business partner with similar goals, values and interests as Damir did, it can double the power, purpose and passion fuelling the enterprise. The entrepreneurial journey can be a lonely one, so having a like-minded co-founder to share the ups, downs, wins and losses with can make it all the more rewarding. Sales experience is keyDamir mentioned that one of his must-haves when it comes to launching a business is ensuring that you have at least one person on the team who can bring a strong sales background to the table. At the end of the day, launching a successful business is all about selling—whether you’re selling investors, prospective hires or prospective clients. Sales or “storytelling” skills, as Damir calls them, are essential and highly valuable when it comes to the early growth stages of a business and beyond.Just do the workOverall, Damir says there’s no magic formula for finding success as an entrepreneur. At its core, entrepreneurial success isn’t necessarily about launching the perfect marketing campaign, uncovering a secret strategy, or cutting corners to get ahead: it’s about staying committed to doing the work day after day, hour after hour. He mentioned that at Canalyst, about 40 per cent of their new bookings now come from word of mouth, which isn’t something that happened overnight—it came as a result of consistently driving relationships forward, delivering a high-quality product to customers and spreading the word organically.CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

 Although some venture capital firms snapped their wallets shut during the first few months of the pandemic, it quickly became apparent that the startups who were able to pivot their business model and go fully digital would not just survive this time period, but thrive. In this episode, Michael sits down with Christian Lassonde, the Founder and Managing Partner of Impression Ventures, to discuss lessons learned from the pandemic and why there’s hope for the future yet. As an entrepreneur himself, Christian applied the knowledge he gained from past experiences working in the video game and tech industry to his role as a venture capitalist today. He shares how the lessons he’s learned throughout his career have informed his work as a venture capitalist, why he’s not interested in a high profile, the importance of playing the long game in business, and much more.All problems are created equalDuring his time as a video game programmer, Christian developed valuable problem-solving skills that he would later take with him into future roles. He learned that regardless of the subject matter or the industry you find yourself in, all problems are created somewhat equal, and finding the answers comes down to your passion, determination, and willingness to solve for X. Ultimately, Christian recognized that while there’s an infinite number of paths you can take while running a business, it’s all about finding the one magic formula that works for you. Fail fastWhile building Claystone, an Android software development firm, Christian and his team were constantly inundated with the unofficial Silicon Valley mantra: “fail fast.” Taking this maxim to heart, they launched themselves into a continuous, fast-moving loop of test, launch, learn, iterate, and repeat. Christian says the lessons he learned from this experience ultimately made an indelible impression on his overall outlook, arming him with the tools and the repertoire he needed to launch Impression Ventures.Equal parts optimism and cynicism Christian believes that a great venture capitalist should be equal parts optimist and cynic. He noted that without the fundamental belief that what lies ahead is greater than anything humanity has collectively experienced in the past, you likely won’t make it very far in the business. Overall, Christian is optimistic about the future, which fuels him to keep moving forward despite any challenges he may encounter along the way. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

It’s been said that data is the new oil. Not only has it acted as a fuel for growth, but data has been the catalyst for a whole new way of doing business. In this episode, Michael sits down with Stephany Lapierre, the founder and CEO of Tealbook, a supplier data foundation that uses artificial intelligence and machine learning to enable supply-side innovation. As a supply chain thought leader, Stephany has raised more than $73 million for the company, and much of it during the pandemic. While COVID-19 was breaking down supply chains, Tealbook was building up its ability to connect buyers with suppliers in a whole new way. During the episode, Stephany explains how Tealbook accelerated its fundraising while pivoting to tackle the greatest health crisis of our time.Connecting the dotsThe idea behind Tealbook is to collect supplier information for global enterprises that need to access data quickly, easily, and efficiently. Recognizing the need for a faster way to access data, Stephany leveraged technologies like AI, machine learning and the cloud to create a system that could keep up with the rapid evolution of the supply chain. By connecting the dots in a way that no one else had yet, Stephany was able to create a service that’s completely unique and allows companies to make sense of an abundance of data—fast.Never give upAfter years of running her own successful consulting business, Stephany didn’t need to create Tealbook, but her vision was so clear and persistent that she couldn’t not bring it to life. This strong vision and her belief in the product helped to keep her driving forward, even when things got tough. Although there were plenty of opportunities to throw in the towel along the way, Stephany never gave up, keeping her vision alive in the face of obstacles and refusing to compromise.Be a thought leader, not a followerFor Stephany, an important step in bringing Tealbook to life was positioning herself and the company as an influential voice in the space. By focusing on building relationships, solid branding, and earning credibility, Stephany was able to establish a place for herself in the data and supply chain industry. Posting on LinkedIn and writing about the subject regularly helped her gain a following and become a trusted thought leader over time.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Account-based marketing (ABM) is a targeted B2B strategy that focuses sales and marketing resources within a specific market. Terminus, a leading account-based marketing platform, has a goal of moving from an ABM company to a platform of record — but how does a startup evolve as it expands from its home turf all the way to Europe, the Middle East, and Asia? In this episode, Michael sits down with Terminus CEO Tim Kopp to discuss how he leans on his past experiences working for global companies like Coca-Cola and ExactTarget to inform this process. In addition to providing an overview of the work Terminus specializes in, Tim offers his experts tips for startups to apply when accelerating their own growth.Fish with a spear gun instead of a netTim explained that for the team at Terminus, their overall marketing philosophy is focused on targeted campaigns, personalization, and relationship building. He believes in the power of highly targeted, customized messaging that’s tailored to reach a specific audience. Rather than casting a wide net, Tim suggests gaining a firm grasp of your audience from the get go and demonstrating your understanding of their business needs, desires, and goals to build a strong relationship and trust right away.Put people firstOne of Terminus’ number one growth differentiators has been emphasizing the importance of people and culture. Leaning on that angle, Tim attributes putting people first as a competitive advantage in their industry. Over his years as a business leader, he’s learned that what worked in the past won’t necessarily work going forward, so creating a culture of consistent growth, improvement, and execution is key.Learn from the bestOne of Tim’s final tips was to find other people who are succeeding in similar roles and industries to learn their tricks of the trade. Although many of us are working remotely and it can be more difficult to find time to connect, he recommends exchanging notes with some of the best and brightest from within your organization and beyond. Not only will this help to expand your network, but it will also ultimately serve to strengthen your own business acumen.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Some like to be a big fish in a small pond, while others enjoy the hustle of being a small fish in a big pond. For the founder of Two Small Fish Ventures, Eva Lau, swimming with the sharks of Silicon Valley was more her speed. Along with her husband Allen Lau, the co-founder and CEO of Wattpad, Eva launched the investment firm to give back and help nurture the startup ecosystem in Canada, and has since raised $12 million for the fund. As part of her role at Two Small Fish Ventures, Eva mentors startup founders to share the lessons she’s learned in her own career and pass the torch to the next generation of business leaders.Give a little bitEva explained that the philosophy behind Two Small Fish Ventures is backed by a strong desire to reinvest in Canada’s startup ecosystem, not only through financial means but by sharing wisdom gleaned from years of experience. Silicon Valley grew into the ecosystem it is today as a result of this ideology of giving back, and Eva suggests it’s time we adopt a similar mindset north of the border. What you give, you tend to get back, and Two Small Fish Ventures lives by this mandate.Learn from mistakesIn her role as a mentor to other startup founders, Eva believes in sharing all the benefits of her experience—not just the success stories. She notes that during her career, she’s often learned more from her mistakes than her wins, and she considers it part of her duty as a mentor to provide these insights to other aspiring leaders. The key to learning from mistakes, according to Eva, is understanding the thought process behind your decisions so you can make more informed choices moving forward.Invest in homegrown talentAccording to Eva, Canada is equipped with all the talent, support and infrastructure required to see massive success, but the country’s startup ecosystem needs more investment. In order to harness this potential, more people need to invest in early stage startups here at home. Eva says that whenever there's an inflection point in the ecosystem, we will see a new breed of companies that are in the making to help advance the world in a new model, which is why now is the best time to invest.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

As Executive Vice President and Chief Security Officer at CIBC, Keith Gordon has been on the receiving end of an untold number of pitches from startups. In this episode, we discuss how to get a foot in the door, the elements that go into a great pitch, and what to do once you’ve secured a meeting with a prospective client. We explore the reasons why an effective pitch can turn a client into an evangelist for your product or service, while a bad pitch could damage your reputation with future prospects. Keith also shares his perspective on the importance of building authentic relationships and advice for startups looking to make a positive impression.Know your audienceThe importance of putting your best foot forward during a pitch meeting and remembering to tailor your presentation to your audience is critical, according to Keith. He recommends being professional, and really thinking through who you’re going to be talking to and what their perspective might be on your idea. Rehearse detailed responses for questions that will likely come up during the meeting in advance, and come prepared to explain the problem you’re solving with your product or service.Say goodbye to cold callsCold calling (and cold emailing, for that matter) is not an effective way to get a foot in the door these days. In fact, Keith mentioned he automatically filters sales emails into a separate folder by flagging any messages that contain the word “unsubscribe.” Instead, Keith recommends forming genuine relationships with people who believe in your product at a peer-to-peer level first before moving up the food chain to the decision makers. Trust is the magic ingredient in terms of forging these kinds of relationships, which is why being honest and upfront about any challenges you may be facing is key.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking to learn more.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Katherine Regnier is the CEO and founder of Coconut Software, a customer engagement platform for financial institutions. She launched the company in 2011 after recognizing the need for improved scheduling software while struggling to book a massage appointment. Since then, Katherine has led the company through venture capital funding, strategic partnerships, and the rapid growth that makes it the envy of its industry. In this episode, we hear Katherine’s inspiring story of launching Coconut a decade ago, and how she found the courage to risk it all from the beginning. We also learn what post-pandemic life looks like for the company, and how they stepped up to be there for their customers throughout the crisis. Growing up on a farm proved to be the perfect training for startup lifeKatherine credits her farm upbringing as part and parcel to her success in the startup world. Growing up on a farm in Saskatchewan, she learned crucial skills and lessons early on like the value of hard work, strength and perseverance, and viewing life as a marathon not a sprint. Outside-the-box thinking, pride in her work and a healthy dose of dedication are some of the other qualities she developed from an early age. Katherine’s background has also contributed to the humility and kindness she’s been able to maintain throughout her journey. She’s quick to point out these qualities shouldn’t be mistaken for weaknesses. Sometimes, a great idea is enough to keep you goingDespite having limited background in software development, Katherine was committed to her vision for Coconut Software from the beginning. She had identified a pain point while struggling to book a massage appointment, knowing intuitively there had to be a way to improve and streamline the process. Katherine spent three years looking for the right partnership to execute on her idea, all the while holding strong to her vision and never compromising on her boundaries. By remaining patient and steadfast throughout the process, Katherine was finally able to bring her idea to life, despite the odds being stacked against her. A strong focus on people, passion, and performance will go farCoconut Software is laser focused on people, passion, and performance — in that order. Early on, the company landed Jackson Hewitt and Capital One as clients that helped to build their credibility as an organization. Katherine says that as a rule, Coconut treats its customers like trusted partners.. She makes a point of asking customers questions about their work and family lives to help the team at Coconut gain a better understanding of the challenges they’re working through on a personal and professional level.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Michelle McBane is the Managing Director at Standup Ventures, a seed-stage fund investing in women led Canadian technology startups. On this episode, we discuss where Canadian VC dollars went in 2020, how COVID-19 affected the industry, and how VC funds like StandUp Ventures are leading the way by investing in the next generation of women entrepreneurs. Solving the gender gap in technology Although there is immense wealth being generated in the venture backed company sector, recent studies have shown that only 10% of cap table holdings are by women. According to Michelle, diverse teams consistently outperform homogenous teams, and if you have a diverse pool of talent around the table, you're going to attract a variety of different deals that you otherwise may not have. When it comes to women-led ventures, having good role models and promoting mentorship are key to success According to Michelle, funders are used to investing in companies where they see themselves, and can relate to the story. Building a company is rife with challenges, some of them specific to female founders, and the value of a prior experience can't be discounted. As Michelle explains, there are a lot more women stepping up to fill the role of mentor within the industry. In venture capitalism, you are always learning Whether you’re a serial founder, a funder, or just stepping into the field, according to Michelle, you will learn every day. No day is the same, no deal is the same, and you will get to learn about the makeup and functionality of exciting new businesses every day. It’s a field that promotes constant growth, education, taking risks and embracing the unpredictable. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Carter Griffin is the general partner at Updata Partners, a company using key metrics to help SaaS companies scale their businesses exponentially using a predetermined framework. This is a framework that Carter and Updata have honed after years as technology entrepreneurs and investors. It’s based on analyzing specific metrics that help you better understand the ROI on certain expenditures, the cost of acquiring a customer, but most importantly which business activities are driving the best results. Updata Partners is helping SaaS startups find success through understanding their businesses and exploring new ways of analyzing their data. Software as a Service is a unique modelWhen Carter started working in technology, software companies were physically installing software. Now, it’s hosted in the cloud. Updata has created a unique framework that evaluates hundreds of potential investments and helps determine the health of a business. So what metrics help you determine if your SaaS business is financially viable? Carter believes there are two that matter the most. Customer acquisition cost needs to be a more in depth analysisMany SaaS businesses look at their customer acquisition cost by taking the sum of their sales and marketing expenses to acquire a new customer, but it doesn’t tell the whole story. Carter says looking at a business model’s efficiency is way more important than the standard gap financials. Onboarding and ongoing expenses need to be considered in the cost of acquisition to help entrepreneurs paint a clearer picture of their growth levers. Software is (still) eating the worldThe tech and software industries were some of the least affected by the COVID-19 pandemic, according to Carter. He doesn’t anticipate much change for the software world, yet this certainly doesn’t mean it’s in trouble. Carter identifies software as the dominant sector in our lifetime, which is why it’s so important that we keep investing in innovative companies and driving progress. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. This episode of The CIBC Innovation Banking Podcast was produced by Quill.

The global food supply chain is the world’s largest and most interconnected market and the COVID-19 pandemic has quickly proven that the weakest links in this supply chain are only magnified by complex economic and political issues. When we’re talking about something as paramount as access and affordability of food, some of the numbers are staggering. In this episode we speak with Dr. Sylvain Charlebois and Semios’ CEO Dr. Michael Gilbert about the global state of food security and how Semios’ technology is working to improve the global food supply chain and create a more sustainable agriculture industry. The first step to solving a problem is quantifying it.Most of the problems on a farm are influenced by two key factors: heat and water. This is pivotal for agriculture technology companies like Semios because by simply tracking these two factors they can build out robust and comprehensive product offerings that help farmers do their jobs. Farmers are limited by available technologies.Imposing restrictions like a carbon tax can have evident benefits, but ultimately, farmers are at the mercy of available technology. To dry grains at harvest requires propane, there is no other available technology. How do innovators and policy makers develop solutions that benefit both the agriculture industry and the public while solving global issues like climate change? Food security is a global issue but it hits closer to home than you might think.Sometimes countries tend to think of themselves as in isolation from everyone else. In reality, that’s not the case at all.. People care about eating local and understanding where their food comes from, but remaining competitive in the global market boils down to technology and how we can build economies of scale. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Armen Bakirtzian is co-founder and CEO of Intellijoint Surgical, a company striving to improve orthopedic patient care through technology. He is an engineer, and the son of an orthopedic surgeon which he says armed him with the knowledge of the need in this industry that led him to launch and grow Intellijoint. On this episode, we learn the origin story of this cutting edge med tech company and how they are working with the medical community to make consistent improvements to patient quality of care. Armen explores what makes Intellijoint different from their competitors, the importance of early adopters of tech in the medical industry, and the future of the “surgery as a service” approach in health care. The medical industry is a tough nut to crackThe healthcare industry is inherently traditional and can sometimes seem averse to progression. There are also substantial legal, regulatory and financial considerations that come into play when we’re looking at developing new tech products and modern solutions. This is why champions and early adopters of this tech are so key in advancing it in the market, and why creative business models have helped Intellijoint progress. The best tech ideas are borne from a needArmen is the son of an orthopedic surgeon and ultimately developed Intellijoint based on his understanding of a key need. Surgeons traditionally rely very heavily on their training and don’t use digital to their advantage in surgery which can sometimes lead to human error. Intellijoint is working to close this gap and provide the best patient care possible by minimizing the risk of mistake. Advocacy and mentorship are keyWhen Intellijoint was in its infancy, Armen was fortunate enough to be introduced to valuable mentors in the USA who had developed medical products, and he credits them with helping Intellijoint find success. Armen is now using this knowledge and his experience to mentor like-minded Canadian companies as he knows that the medical device industry is small and the benefits to patients, our local economy, and to our country for commercializing a medical technology company at home are tremendous. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.This episode of The CIBC Innovation Banking Podcast was produced by Quill. 

Naomi Goldapple heads up AlayaLabs for AlayaCare, a company on the cutting edge of digitally transforming home care. When the pandemic hit, they, like so many others, had to make a rapid shift and innovate through crisis, developing products and digital methodologies to enable home care that was safe and effective for patients, families and home nurses alike. We learn how AlayaCare is revolutionizing the industry with AI, machine learning and an outcome-based approach, from the front lines of a new frontier for health care.  People do better at home  A core take away from the COVID-19 pandemic is that most of us can do quite well at home, especially when it comes to caring for our elderly. Naomi says the pandemic really shed a light on the facts, numbers, and sheer chasm between home care and traditional geriatric care which makes optimizing home care methods even more urgent.   The secret to Machine learning is in implementation  Machine learning and autonomous intelligence technologies have existed for a while. It’s the application and execution of these technologies that are unique, and that drive the success or failure of the technology. According to Naomi, the use of the technology is not the relevant factor -- driving value through the tech is what counts.   Optimizing for ourselves as well as our customers  When we talk about digitally optimizing health care, patient care is top of mind, but Naomi and AlayaCare are focused on other aspects of the home care industry as well. It’s more urgent than ever to use tech to better understand and meet the needs of health care providers who work in a physically and emotionally demanding industry with a staggering churn rate.   CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. This episode of The CIBC Innovation Banking Podcast was produced by Quill.

Before the global pandemic, online testing company ProctorU was already a success story. But once it became evident classrooms wouldn't be hosting student exams any time soon, founder and Chief Strategy Officer Jarrod Morgan saw almost a decade's worth of growth in a few months. That doesn't mean Morgan could afford to sit back and wait for the phone to ring. He tells the CIBC Innovation Banking Podcast that being pro-active was key to retaining existing clients while meeting  new and growing demands. Is he worried the world will return to it's pre-COVID ways? Not at all.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at www.cibc.com/innovationbanking. 

Jack of all trades, Master of noneYears after coding a restaurant employee scheduling system for his father’s chain of sandwich stores, 7shifts founder Jordan Boesch had branched out into retail and other scheduling-heavy industries. “They told us it was good. It wasn’t great,” he laments. His solution? Get back to his roots.Close a door, open a windowAfter Boesch had closed the door on 2 out of 3 customers to focus just on the restaurant industry, he discovered something interesting: he could focus on opportunities other software companies couldn’t. Focusing on his core competency — and his core customer — gave 7shifts the jet fuel needed to grow.3,000 kilometres from Silicon Valley NorthBoesch was questioned about why he’d build his company in Saskatoon, Saskatchewan. He points to the talent of a city with only a quarter million residents, adding “as a result, we don't have the same level of competition that you might have in bigger metropolitan centers like Toronto or San Francisco, and we can really stay laser focused to deliver a great product and build a massive company.”  Join Jordan Boesch as we wash dishes at a Toronto hotspot with our #CIBCInnovationEconomy series, then listen to Boesch offer his advice on how to pivot your company for greater success the CIBC Innovation Banking Podcast.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. 

Say “Yes, and…”When Expensify CEO David Barrett pitched his big idea, it was flatly rejected. But when investors and potential customers told him a throw-away idea was insanely great, he didn’t fight back. Today the expense management company is one of the world’s most successful players in the Innovation Economy today and all because Barrett said “yes, and...”Setting Up ShopBarrett chose to set up shop more than 1,000 kilometres away from Silicon Valley and a million miles away from its business model. He was advised to pitch his app to Fortune 500 companies but he went with small to medium sized businesses instead without spending a dime to acquire them. “Our real longterm differentiation is how we acquire customers and that we do it in a way that is dramatically lower cost to sale… It's a 100% organic,” he says.Profit over Growth leads to bothMost innovation economy start-ups are advised to focus on growth over profits. But Barrett was profitable almost from Day One. “We just control our own destiny,” Barrett says. ”That means that we can hire who we want, we can grow how we want. As such, I think that we have far more control and a far greater appetite for risk now than ever before.” That profitability has given the Portland-based company a leg-up over Venture Capitalists looking to take control of the board.Join David Barrett as we explore the bank vaults of his 100 year old headquarters with our #CIBCInnovationEconomy series, then listen to Barrett offer his contrarian advice with the CIBC Innovation Banking Podcast.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. 

Cleantech SuperheroMild mannered CEO Ed Quilty has used data analytics to save a village in Malaysia from flooding. He monitors the water quality for the world’s biggest economy, and he provides technical services to clients as far away as Afghanistan. But it all started with an internship posting in British Columbia that he didn’t want in the first place.Foot in the Door, Feet on the World StageQuilty leveraged a contract win with the U.S. government into a cleantech behemoth in 60 countries worldwide. He started with countries that spoke his language, but quickly partnered with companies in foreign lands. That strategy helped Aquatic Informatics grow fast enough to acquire those partners, but it wasn’t without a learning curve.He made it. And so can you.Before Aquatic Informatics could grow into the company it is today, Quilty hit the books: learning business management. And the advice he took in his early days is the advice he gives to his own employees today: “When you're learning at times you have to fake it till you make it to your sweet spot,” he says, ”and by faking I think you've just got to get in there, try your best and just basically jump in the deep end.”Join Ed Quilty on the shores of Stanley Park in Vancouver with our #CIBCInnovationEconomy series, then listen to Quilty offer his advice on going global while managing a growing team with the CIBC Innovation Banking Podcast.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. 

Building the Next Generation Construction Industry from the Ground UpLauren Lake grew up on her father’s construction sites. By the time she entered a university entrepreneur accelerator program, other industries had adopted the latest in technology like wireless Internet access and iPads. Her father’s business hadn’t changed much at all. Lake teamed up with other child of the hard-hat economy to bring the future to an industry stuck in the past. What started out as a two day exercise turned into Bridgit, a start-up success story that’s grown an average 313% over 5 years.The Construction Industry isn’t Building its Own FutureThe construction industry is one of the least innovative, and least productive, in the world today, reporting, “The reasons for this narrow focus vary, but some players hesitate to expand into any other area because they have traditionally struggled to deploy new tools at scale, limiting their impact.”Lake and fellow Next36 student Mallorie Brodie aimed to make a big impact. Delicately. Without any preconceived notions about what site managers needed, the pair went “crane hunting”. They literally searched the skies for cranes to discover where the job sites — and future customers — were. Once they found them, they arrived unannounced and armed with just two things: a note pad and a box of donuts. What they walked away with was the knowledge necessary to build a Minimal Viable Product the industry needed, and what they needed to kickstart the financing of their fledgling business.Lessons Learned Along the WayAs Bridgit grew, Lake and Brodie had to make a decision: which co-founder would tackle the CEO role, and which would act as the Chief Operating Officer. Lake took the latter. She acknowledges Bridgit made many mistakes along the way, from planning to pricing, but each stumble taught the 20-something entrepreneurs how to make great strides in both the start-up world, and the world of heavy equipment.Join Lake and Brodie on the job site with our #CIBCInnovationEconomy series, then listen to Lake get personal with the CIBC Innovation Banking Podcast about what it took to build the foundation of her own success.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. 

Ganesh Padmanabhan attributes his laid-back attitude to his childhood growing up in southern India. But don’t confuse the contemplative serial entrepreneur's approach with complacency. He's advising start-ups renegotiate the definition of success. That conversation requires participants from all levels of the company: from its investors to its employees to the customers you're trying to reach. Reframe the problem the company is trying to solve, and recognize pre-pandemic goals may be unattainable, but with collaboration from all stakeholders, a global pandemic can be turned into an opportunity to succeed. And when asked if he'd launch a start-up in this environment? His answer might surprise you.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at www.cibc.com/innovationbanking. 

Take a step back to reassess, and adapt. Prior to the global pandemic, adoption rates for telehealth were relatively low, but as Ginger CEO Russell Glass explains - that quickly changed. Find out how AI is helping Ginger personalize healthcare and make it more efficient over time. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at www.cibc.com/innovationbanking. 

Canadian venture capital investment reached impressive new heights in 2019 with a record $6.2B invested over 539 deals. And while that was 69% more than the $3.7B invested the year before, no one is expecting a repeat in 2020. As we see the first half of the year fade into the rear view mirror, what does investment growth look like to the Canadian Venture Capital and Private Equity Association? CEO Kim Furlong joins Michael Hainsworth with her insight.CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at www.cibc.com/innovationbanking.