Here in Ottawa, the typical summer slowdown did not take place this year. Despite the capital markets fluctuating and the general lack of venture capital, a number of the companies we work with were actively raising and closing, on investments over the course of the summer. In addition to the funding, these companies were also closing significant customer engagements which in many cases are the milestones that customers need to get the company to scale.  As recently as last week, three local companies, including two clients of ours, Seregon Solutions and YOUi Labs, received funding through the Investment Accelerator Fund (IAF). Benbria, e-Sight and IPeak Networks have also enjoyed recent successes.

 What are the differences this year?

 1)     Preparation: We have spent significantly more time getting to know the companies and their management teams, and creating a tailored approach to coaching in order to help them build confidence and generate the “wins” they need to move their companies to the next stage. No more shell-shocked entrepreneurs in front of potential investors.

 2)     Practice: This is mandatory. Doing dry runs with friendly investors before companies make their investment presentation to potential investors makes a huge difference. The feedback is constructive and provides a genuine opportunity for companies to make improvements, anticipate questions and plan ahead.

 3)     Match Making:  While working with entrepreneurs to be more targeted in their approach to investors we are also working with investors to make sure there is the right level of interest and that they are aware of the opportunity they are about to be presented with.

 4)     Seasoned Entrepreneurs: It’s great to meet such seasoned entrepreneurs. They recognize the value of mentorship and are open to the coaching we are able to provide that can help them structure their efforts in order to raise funds and create lasting relationships out of the introductions that we are able to facilitate for them.

5)     Angel Activity: There is a light at end of the funding tunnel. While it won’t solve all the investment issues and make every startup company happy, we are witnessing a tangible increase in angel activity.  Their focus on particular industries and niches is intense and knowing that, we are able to increase the possibilities for successful introductions, strategic alliances and much needed investment.

 6)     Public Exposure: This summer, we’ve had even more occasion to showcase investment opportunities – Grow2010, regular networking events hosted by the Canadian Angel Network, applications to the Ontario Venture Summit and Canada’s Top 10 – all recent and very relevant.   

What will we see this fall? If the summer is any indication then we expect the fall to move even faster.

It was good to see a local start-up getting some well-deserved media attention with Jim Bagnall’s recent profile of  IPeak Network’s CEO Martin Horne in Saturday’s Ottawa Citizen. Under Martin’s leadership, IPeak is poised for growth.

IPeak is a great Ottawa example of a company that started with a good technical idea and a desire to learn how to turn that idea into a successful enterprise.  Not only did Matt Williams, founder of IPeak, help develop the company’s core technology but Matt was very open to learning from others who had built companies before.  He was able to gather the best people around him early on to move the business forward.

IPeak was a two-man operation when OCRI’s Investment and Commercialization team began working with them three years ago. When they graduated from the OCRI Business Accelerator they had expanded to seven employees, had secured their first sale, and raised over $1M in angel financing. They also were selected as a winner of the Canada’s Top 10 Competition which gave them exposure to a broad range of investors in Canada and the U.S. at an early stage.

Pulling together the right team has been one of Matt’s key strengths as a founder. He was not afraid to let go of the reigns as CEO and focus on his strengths on the technology side of the business as CTO. Couple that with his passion for the IPeak product and validation from key markets that his company met a market need and he was able to attract a high caliber CEO in Martin Horne to help grow the company to the next stage.

IPeak is just one example of how founders in our portfolio are working to build success in their own verticles and businesses through working with our team. It is an approach we think will result in the growth of more leaders like Matt and more growing, competitive companies like IPeak.

That’s the type of development that OCRI is working towards for Ottawa companies and entrepreneurs.