We are excited to announce OneEleven as an official community partner this year. OneEleven is a global scaleup hub focused on helping the most promising, high-growth tech startups build their businesses and scale their operations. Check out our interview with OneEleven below for more information.
The failure rate of scaleups is more than 50%, which results in a long-term problem for the economy. Funding a big number of startups that then go on to fail while scaling erodes confidence in customers, investors, and talent. There there are an assortment of incubators and accelerators targeted toward the startup phase, but few are dedicated to meet the unique needs of scaleups and help them navigate the stage between Seed and Series A funding. Over the last five years, OneEleven has been working closely with the most promising scaleups in the Toronto ecosystem and developing a unique formula that is tailored to their needs. OneEleven continues to build an exclusive peer-to-peer community of experienced founders in scaling mode, providing them with a suite of services and turnkey infrastructure they need to successfully navigate this critical stage of growth.
The endless opportunities and support systems available to founders. For example, Toronto is less expensive than markets in the U.S. and abroad, allowing companies to do more with less. The real estate market is more affordable than in other ecosystems. Talent, especially technical talent, is plentiful and less expensive than in other major cities. Global companies are recognizing Toronto as an attractive market to establish a second headquarters (Amazon) or launch a highly experimental project and developments that involve deep investments (Sidewalk Toronto). And finally, the government (both provincial and federal) provide a range of incentives to allow businesses to grow and prosper in the city.
Startup Genome research finds correlations between overall ecosystem performance and individual scaleup success. Scaleups that are well connected to the top ecosystems in the world are more successful than those that are not. Stockholm, for example, has a relatively small startup ecosystem but produces scaleup firms at a faster rate than Chicago, which is three times their size. This global connectedness keeps them at the leading edge of global knowledge about innovation and business models. This translates into an ability to engage with global customers from their earliest stages, which in turn translates into greater scaleup success.
Not so much knew, but understood. OneEleven is not a co-working place, incubator, or accelerator. We’re a highly-curated scaleup hub that works with the top technology entrepreneurs to help them build self-sustaining, global businesses. We’re on a mission to establish scaleup hubs in cities around the world, with the goal of establishing OneEleven as a global scaleup brand with a presence is cities such as London (UK), Berlin, Bejing, Tel Aviv, Boston, and more. We work in concert with the country’s top accelerators and incubators, offering the graduates of their programs with the support they need to succeed during their most fragile stage of growth.
Learning from and being inspired by a community of 600+ founders and their teams who are solving meaty problems. The programs and socials, which provide an additional level of best practice learning and community engagement. Challenging your peers to a game of ping pong or foosball. And finally, the bottomless-supply of high-quality caffeinated beverages.
What leaders in the tech community does your organization look to for inspiration?
We are inspired by the mission-driven entrepreneurs in our hub who share our global ambitions. They want to change the world. So do we. Leaders such as Paul Teshima and Steve Woods of Nudge.ai; Rich Erlich of Altus Assessments; Mike Katchen of Wealthsimple; Dr. Brett Belchetz and Roxana Zaman of Maple, and the list goes on.
The collaboration opportunities. Canada’s tech scene is different than those in major U.S. cities. The major government agencies, incubators, accelerators, funders, entrepreneurs, mentors and corporate partners all work closely together for maximum impact, unlike other ecosystems where the players are competitive or work independently. By collaborating, funding and resources go further and can impact more entrepreneurs. That’s what we’re all about.
A big one. By the end of next year, we plan to expand our presence in several North American and International cities and by doing so, improve the rate of success for scaleups in ecosystems around the world.
All of it! The inspiring speakers, diverse talk tracks and programs (especially Elevate Scaleup that features our Chief Growth Officer, Dean Hopkins!), the unmatched networking opportunities and, and simply witness the growth and vibrancy of our city’s tech ecosystem.
Join us September 21-27, 2018 in Toronto to be a part of a diverse and inclusive community at the forefront of innovation. Buy your tickets here.