Spring is coming slowly to St. John’s, but that hasn’t stopped new startups from spouting up.
It’s now Startup Week in the capital of Newfoundland and Labrador, and there is a strong focus on forming and seeding young companies. Company formation is picking up in the Newfoundland community and Startup Week is shining a spotlight on the growth of seed-stage ventures.
The event, organized by Startup Newfoundland and Labrador, has featured a Startup Weekend, and a Startup Soiree with a range of speakers. Today, Dalhousie University entrepreneurship professors Mary Kilfoil and Ed Leach are leading a bootcamp for young companies.
“StartupNL was built on the belief that entrepreneurs helping entrepreneurs is the best formula for startup success,” said StartupNL Co-Founder Roger Power. “Startup Week is simply our effort to give value to the community by bringing together existing startups and those that want to create one.”
There were always great startups operating in St. John’s, and StartupNL is arguably the most active community-based startup group in the region. But what’s new this year is the focus on new companies coming down the pipe.
In speaking with different players in the ecosystem, there is a strong emphasis in getting more entrepreneurs launched.
“One of the pain points is in the funnel” for new companies, said Greg Hood, who is three months into his tenure as CEO of the Genesis Centre, the commercialization hub at Memorial University of Newfoundland.
In an interview, Hood said there are several components of the ecosystem – from NATI to Startup Newfoundand and Labrador to the new CIETC entrepreneurship group at MUN – are working together to provide a strong network of support. And what has been needed is for more entrepreneurs to begin the journey from idea to company.
Five teams comprising more than 20 people competed in the Startup Weekend that wrapped up Sunday. The entrepreneurs and mentors at the event included people from such lands as Ireland, Bangladesh, Australia, and Iceland.
The winner was DuJour, a team led by software developer Robert Byrne. The company developed an app that lets users choose a selection of recipes, then automatically prepares a single shopping list with all the ingredients required.
The evidence of new companies is seen at the Genesis Centre, which is going through a period of change. Previous CEO David King left late last year and Keelin O’Leary, Vice President of Entrepreneurial Support, completed her tenure with the centre on Friday.
In the past year or so, several new companies have become tenants – a few of them declined interviews, preferring to talk publicly when they’re a little further along in their development.
The greatest evidence of the growth of new companies has been the St. John’s cohort of the PropelICT Launch program – a matter we’ll discuss in more detail tomorrow.
“Here we are three years later with a vibrant, entrepreneur-led startup community that is creating new ventures,” said Power. “To me, that is a testament to the collective efforts of the hundreds of entrepreneurs who are StartupNL.”