April 27, 2017
For Immediate Release
Platform will provide comprehensive insights for incubators, accelerators, startups, scale-ups and policy-makers to create successful strategies for driving innovation
TORONTO and WATERLOO, Ont. – The Lazaridis Institute for the Management of Technology Enterprises at Wilfrid Laurier University today announced the launch of a national scale-up data platform to capture and track growth metrics for Canadian companies. Powered by Hockeystick, this platform will be available for every innovation organization—incubator, accelerator, scale-up and startup—across Canada. Free memberships are available as of today.
“For the first time, it will be possible to obtain a comprehensive picture of the evolution of Canadian companies from early to late stages, giving Canada a world-leading competitive advantage in innovation, and invaluable insights into why companies fail or succeed,” said Kim Morouney, executive director of the Lazaridis Institute and associate dean in the Lazaridis School of Business & Economics. “By standardizing the collection and tracking of data across every incubator and accelerator, the platform will provide normalized data over the long term.”
The platform will also provide an effective tool for resource-strapped startups and scale-ups to find programs and apply for funding opportunities in less time than it takes now. The platform is intended to make it easier for accelerators to identify startups that meet their program parameters, and to provide provincial and federal governments with requisite detailed metrics.
“Our solution has already been adopted by top funders wanting insight into their portfolio companies,” said Raymond Luk, founder and CEO of Hockeystick. “With this initiative, the Lazaridis Institute has enabled every innovation organization to do the same. This will have far-reaching benefits to enable innovation and growth in Canada.”
The platform will capture comprehensive, standardized data, facilitating application, selection and reporting processes for a wide variety of programs, and will provide a direct feedback loop to its users over a secure network. Users will have the option to share private data in order to gain visibility with potential sources of support and investment with no added cost in time or effort.
The Honourable Bardish Chagger, Leader of the Government in the House of Commons and Minister of Small Business and Tourism, and Member of Parliament for Waterloo, announced today that the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), through a non-repayable contribution, will provide funding of up to $2.5 million to the Lazaridis Institute for the national data scale-up platform.
“In addition to creating over 150 jobs in our communities, the platform will help provide entrepreneurs across Canada with the tools they need to reach their full potential, become investment-ready, and compete on the global stage,” said the Honourable Bardish Chagger, Leader of the Government in the House of Commons, Minister of Small Business and Tourism and Member of Parliament for Waterloo.
“We are pleased to receive the support of the Government of Canada in order to help capture, standardize, streamline and make accessible the rich data from innovation organizations across the country,” said Micheál Kelly, dean of the Lazaridis School of Business & Economics. “Together we share a vision of a stronger Canada through the growth of more internationally competitive Canadian enterprises, which are able to flourish here and remain to build a stronger economy.”
Innovation organizations and Canadian companies can apply for their Hockeystick account today.
Hockeystick is a financial market data network that provides deep insight into private companies. Hockeystick’s network connects a firm’s financial data directly to the venture capital, private equity and innovation ecosystems. Fund managers and analysts use Hockeystick to accurately track, compare and predict company performance. More than 12,000 private companies and top Canadian funders belong to the Hockeystick network.
The Lazaridis Institute is focused on solving a specific national challenge – the need for more globally competitive technology companies in Canada. Our approach to this complex problem is three-fold:
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