Startup Weekend Toronto

Hello fellow Startup Weekenders! I'm far too tired to begin my post event wrap ups and I'm busy picking up the other pieces of my life and will be for the next couple of weeks. Well, I'm actually going away to NYC next week and don't expect I'll be doing too much thinking about Startup Weekend.

In the meantime, I do want to say thanks to everyone for making this such a great event and continuing to inspire me. Toronto's startup community continues to get better everyday and is full of energy, motivation and a creative and innovative spirit to do great things.

I wanted to share an email I received today from one of the many participants. This is why I put these events on!

"Hi Chris

Just wanted to say a quick thank you to you and your team for organizing Startup Weekend Toronto. It was truly a high quality, well organized, high-value event. Before attending SW Toronto, I was convinced that I needed to move to San Francisco or NY to benefit from the wonderful entrepreneurial communities there. Now I am confident that Toronto has great talent, activity and community support too... As I continue to work on building my business, I am now considering staying based in Toronto!

Thank you for such a wonderful experience!"

Some pictures from the event while you wait for more info from me over the coming weeks. The videos will take longer but we'll get them up.

Great job everyone!

Don't forget to vote for our winners Hero Box for the Global Startup Battle. Their video will be up by 11pm on Nov 21st and voting starts the next day. Let's put Toronto on the map with this one and help out our fellow entrepreneurs.

Voting begins on November 22 and will go until November 28, 11pm PST (this will happen on both Facebook and globalstartupbattle.com - More info will be sent out to everyone on November 22)

Stay tuned for more very soon.

Chris

If you want to help ensure success over the weekend, browse through this...

Startup Weekend is proud to announce a premier sponsorship with NetShelter Technology Media. NetShelter is the largest network of the most influential technology blogs on the Web, with more than 4,500 independent bloggers across leading tech blogs such as SlashGear.com, MacRumors.com, 9to5Mac.com, Phandroid.com, CrackBerry.com, Phonescoop.com, IntoMobile.com, and hundreds of others.

NetShelter is a venture-backed company whose support of Toronto Start-Up Weekend is grounded in their growing success in the digital media space, including innovative approaches to online advertising and brand engagement in social media.

Founded in 1999 by co-founders Peyman and Pirouz Nilforoush NetShelter’s mission is to help technology bloggers, marketers, and consumers become more informed, influential, and successful. Today, NetShelter’s network of bloggers publish more than 48,000 stories monthly that are recommended by 3.5 million tech enthusiasts and read by over 150 million people globally. The company enables technology brands such as Samsung, Microsoft, and LG to leverage influencers and their content to build their brands.

NetShelter is looking for talented developers to join their staff, which includes some of the brightest minds in the business. We like to think outside the box and are passionate about changing the world. If you are looking to work in a fast moving start up environment and are passionate about building cutting edge technologies that empower the biggest tech blogs and brands on the web today then NetShelter is the place for you.

NetShelter will be at Toronto Start-Up Weekend November 18th to the 22nd. For more information, visit www.netshelter.com.

We took some time to sit with Pirouz Nilforoush and pick his brain about some of the tips and advice he could offer Toronto’s up-and-coming entrepreneurs.

What were the unique challenges to being a startup in Toronto? 

I think that one of the biggest challenges stemmed from a cultural perspective. Back in 2006, Toronto didn’t really have much of a startup culture, and as a result, there were fewer people with startup experience and mentality. That’s not to say that there wasn’t talent – there definitely was; but there was a lack of understanding around what it actually took to build a successful company. This forced us to expand our horizons. We were very driven and aggressive, and unfortunately, it was hard to find people with a similar mentality, experience and work ethic. 

The other big challenge we saw as a Toronto-based startup was with the culture/mindset of the investment community. Regardless of how talented or smart the entrepreneur, there is very little early stage funding available. The way we got funded wasn’t because we had a brilliant idea; it was because we met the Canadian VC requirement of generating significant revenue – pure and simple.

It’s a disappointing reality that someone with a revolutionary vision who needs some starting capital to make that into a reality has such a difficult time getting that money. The belief is that nobody funds something that isn’t already generating revenue and I think this stems from the investment community’s aversion to risk. There’s a wealth of smart people, but if you haven’t figured out your business model and proven it, very few investors are going to take a chance on you.

NetShelter is funded and headquartered in Canada; however, the bulk of its revenue is generated in the US. How do you manage those challenges?

That’s been the case since we started. Online advertising’s biggest market is in the US and for us to be able to maximize revenue for our bloggers we needed a strong presence in the US market.

Additionally, while we were in Toronto, one of our biggest challenges was competing in a maturing market while being disconnected from the realities of that market. Essentially, we were in Toronto trying to compete against folks in New York and Silicon Valley. Because most of our clients were in the US, we learned a valuable lesson – be close to your clients and understand their challenges. This lesson forced us to bulk our presence in their US. 

What’s the best piece of advice you have for entrepreneurs attending StartupWeekend?

• Focus on delivering a product that solves a very specific problem in the best possible way. 
• Keep design and functionality very simple. 
• Get it launched as soon as you can.

What’s the greatest lesson you’ve learned in building NetShelter to where it is today?

Focus on getting the right people on board and eliminate the wrong people. One of our biggest regrets is not making changes fast enough. We learned that one bad apple in a startup can have a big impact on the entire team.

Your idea pitch is one of the most important part of Startup Weekend. But how do you do it well? What should you prepare to say? How can you sell that killer idea to the crowd?

90 seconds to sell yourself and your idea to a crowd full of people is not a whole lot of time, so take a look at our tips below to ensure you make the most of the time. Your pitch should be concise and should motivate people to want to work on your concept. 90 seconds is somewhere around 370 words if you talk quickly. So, how do you prepare in advance to set yourself up for success?

Before the actual weekend

Before presenting your idea at Startup Weekend, do some initial research. Think about the problem you are trying to solve, your value proposition, your potential revenue models, and competitors in the marketplace. This is also a good time to find out whether your idea already exists and if it does, the new or unique spin you want to add to it. Remember, there's more to go-to-market than the Apple app store, an app in and of itself is not a business, and saying "I hate X" is not a valid value proposition.

Get feedback on your idea. Start talking to people about your idea. Get their feedback on your concept and start thinking through the points and questions they raise.

Developing the pitch

Since you have only 90 seconds, try a presentation structure like the following:

• Introduction: 15 seconds
• Problem: 30 seconds
• Vision: 30 seconds
• Requirements: 15 seconds

Here are some things you may want to consider including in your pitch.

• Introduce yourself and your background
• Provide a title of your idea
• Who is your target market , and what specific concerns do they have?
• What is the problem you want to solve?
• What is your vision, and what are the benefits for your customers?
• How do you expect to make money on your idea?
• What makes your solution different from others out there?
• What does your proposed solution look like? What kind of people are you looking for over the weekend? Are there any skills that your team is missing?

Use simple and clear language

Try to pitch your idea to at least 3 people who love you enough to give you feedback but will also share their honest opinions about your idea.
This will give you valuable feedback about whether your idea makes sense, and will also get you thinking about aspects of your idea that you may have missed. This should also help you determine the main points you should convey in your pitch. Try pitching your idea to your target audience as well, to see their initial reactions to it.

The pitch itself

Breathe, relax, and just enjoy the experience. If you follow the tips above and are truly passionate about your idea, you will have a really compelling pitch that stands a good chance of attracting the team you'll be looking for. Remember, presenting elevator pitches is an art in and of itself, and practice makes perfect!

For more tips on presenting a compelling elevator pitch, check out some slides from Startup Live here .

Curious about where the teams from Startup Weekend Toronto v2.0 are 5 months after the event? We caught up with some of the teams from the weekend and got the details about where they are today. Check out their updates below. There are still more out there taking their projects forward. We'll let you know when we connect with them as well.

First Prize

Since it first obtained over 200,000 pre-launch signups and 40,000 users in its beta version, Vizualize.me has gone on to be featured in blogs such as TechCrunch, Mashable, BlogTO and LifeHacker. Vizualize.me imports an individual's LinkedIn resume information and automatically creates a visual representation of it. The company is now exploring the idea of creating a theme marketplace and rolling out premium accounts with features such as additional themes, integrated portfolios, and profile analytics. Vizualize.me is also looking into integration with other social media platforms and is currently looking to secure more funding. In addition to being the first-place winner of Startup Weekend Toronto v2.0, Vizualize.Me also placed first for the International Startup Festival’s Top Elevator Pitch. Follow on Twitter 

Second Prize

BabySimplify, a service that  allows parents to see what they really need to buy for their babies, is moving forward as a now-incorporated entity. The organization is  currently focusing on including more product recommendations on its site, further developing its back-end analytics, and flushing out the details behind its revenue models. It is also looking for a fulltime  technical co-founder as it continues to grow. Follow on Twitter

Third Prize

Reputate.me is a cross-platform  reputation service for peer-to-peer interactions such as those on Craigslist. It allows people to judge the trustworthiness of an individual before entering into an agreement with them. Since Startup Weekend, the team has continued customer validation and product development. The team is currently tied up in other projects and is looking for 4-6 months of funding before developing a minimum viable product.  Follow on Twitter 

Winner of the Freshbooks ‘First Dollar Earned’ award

Vertex.Io is a platform for mobile HTML5 applications, providing deployment, hosting and data model services for developers. Since the weekend, the Vertex.Io team has polished its product and added more functionality including offline HTML5 support. The team is continuing to iterate through versions of the platform, and is seeking funding, hoping to reach a point where they can pursue their idea fulltime. Follow on Twitter

PostalSuede is a service that connects fresh products from the worlds of fashion, music, art and design with the people who want to stay ahead of the trend. Since Startup Weekend, the founder of PostalSuede continues to develop the idea and is looking to start beta-testing soon. Follow on Twitter

Getting Gives is a daily deal aggregator that raises funds for charity. Since Startup Weekend, two of its  founders continue to flush out the idea, one of them in a full-time  capacity. Getting Gives is currently looking to add developers to its team and hopes to have a launch in mid-November.

Delirious is an app for sharing those classic moments with your  friends and family. Photos of cool objects, inside jokes and unbeatable people-watching moments are captured and sent out to the people who will appreciate it the most. Members of the Delirious team continue to love the idea, though are at a crossroads with finding the technical individuals needed to complement the skill sets currently on the team. Next steps for Delirious will focus on building a strong social media community for the application.  Follow on  Twitter

UnLease.me is an AirBnB-style  marketplace for office space. Companies looking for flexible space are matched with companies that have “shadow vacancy” — empty desks and office space. Since the weekend, the team has developed its results page but has currently placed the project on hold while it pursues other endeavours.  Follow on Twitter 

TransitHub is a web and mobile-based community for transit users. The application helps users discover local, insider knowledge about the best places to eat and shop, and the best things to see and do around transit stations and stops throughout the city. Since the weekend, the TransitHub team has continued to develop its mobile application and to build its online community. The entirely-intact 8-member TransitHub team continues to feel as connected as ever, holding ‘’Sprint Saturdays’’ workshops that allow them to continue to work on their idea.  Follow on  Twitter

Billed as ‘Kickstarter for  startups’, StartupFuel.ca is a crowd funding platform for Canadian startups who are seeking financial support and exposure for their brand. Having successfully raised some money for a couple of startups over Startup Weekend, the team has proved their concept viable and is hoping to continue to pursue it further in the future. At the moment the team remains intact though is currently working together on another startup idea.  Follow on  Twitter 

EpicRise connects mentors with  rising stars and offers the latter opportunities to learn more about their industry from their role models. At Startup Weekend, the social platform ran a mini EpicRise contest among Startup Weekend participants. Featured on Notable.ca, EpicRise is going strong and is currently in the middle of its private friends and family alpha launch. The platform will be launching to the public very soon.  Follow on Twitter

Global Entrepreneurship Week (GEW), a global movement of individuals and organizations committed to connecting, encouraging and equipping entrepreneurs while showcasing the support that is available to them year-round.

Like Startup Weekend, GEW inspires and encourages entrepreneurship. Plus, both initiatives bring together entrepreneurs, financiers, champions and policy makers with one shared vision: the belief that entrepreneurs can change the world.

Did we mention that Startup Weekend and GEW have another important point in common? Both are global initiatives supported by the Kauffman Foundation, the world’s largest foundation focusing on entrepreneurship.

The Canadian Youth Business Foundation, official host of Global Entrepreneurship Week Canada, is pleased to partner with Startup Weekend to officially close off GEW Canada 2011 in Toronto. To celebrate GEW last year, we organized a stellar campaign that saw more than 350 partners hold 701 events with 90,400 attendees to support a culture of entrepreneurship in Canada. 

For GEW this year, CYBF aimed even higher by giving Canadians the opportunity to imagine, create and innovate – just like entrepreneurs do. CYBF is running YOU Innovate Canada, a national tournament challenging Canadians to turn an everyday object into something new, valuable and extraordinary. With $25,000 in cash awards available courtesy of StudentAwards.com, we’re pleased to partner with Startup Weekend Toronto to formally announce our national winner on Sunday November 20th! Stay tuned!

Curious about what the last Startup Weekend was like? Take a look at our event recap from June 2011. Don’t miss the next one where you’ll have a chance to compete in the Global Startup Battle as part of Global Entrepreneurship Week.

Event Metrics:

• 186 full participants
• 113 guest speakers, judges, mentors, and coaches
• 70 ideas pitched
• 19 teams formed
• 2nd largest event worldwide

Attendee Profiles:

• Startup Weekend participants reported their backgrounds as business, marketing, or finance (53%) and technical or design (47%) 
• 95% of survey respondents indicated that they would attend Startup Weekend again
• The most valuable aspect of the Startup Weekend experience for event attendees was:

1. networking (65%)
2. starting a viable venture (19%)
3. connecting with the speakers (5%) 
4. learning a new skill (4%)
5. receiving advice from mentors (4%)
6. meeting a co-founder or partner (3%)

• 71% of attendees who attended planned to continue their startups with all, or some of their team members after the weekend

Event Feedback

Here’s what some of our attendees had to say:

“AWESOME Event. I was amazed at the incredible ideas that were developed and the real focus on viable business models. A great mix of people with business, tech and design being well represented. I would attend again and encourage friends to as well.”

“I congratulate the team for pulling off such an awesome event”

“The event was amazing. Thank you for starting this idea and organizing the event itself.”

“An absolutely kick-ass event. Awesome job!!”

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Startup Weekend Attendee Profiles

Interested in the profiles of people you can expect to meet at a Startup Weekend event? Startup Weekend conducted a survey of 11 Global Entrepreneurship Weekend Startup Weekend events which took place in the U.S, revealing the makeup, backgrounds, and experiences of Startup Weekend attendees:

• Startup Weekend participants reported their areas of greatest work experience as Developer (39%), Business (25%) and User Experience (10%)
• Startup Weekend attendees have an average of 9.6 years of work experience
• 47% of participants are employed full time and 28% are self-employed
• On average, attendees have worked at 2.03startups and have founded or co-founded 1.34 businesses
• 53% of Startup Weekend attendees have a Bachelor’s Degree
• 81% have both a Bachelor’s and a Master’s Degree
• 58% of teams had a working beta at the end of the weekend
• 77% of Startup Weekend attendees expected to continue working on their startup venture following the event

We're back. If you haven't been before and aren't sure, check out the trailer for the upcoming video documentary, presented by the amazing Eighteen Eighty, from last June's awesome event.

Startup Weekend - Trailer from Eighteen Eighty on Vimeo.