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Expanding Alberta’s Entrepreneurial Capacity
What is 150 StartUps?
150 Startups is an
Alberta-wide initiative designed
to expand Alberta’s entrepreneurial
capacity by, annually, guiding
150+ post-secondary students to
Ideate and become first-time Entrepreneurs.
These first-time entrepreneurs then expand Alberta’s entrepreneurial
capacity by becoming role models, advisors, mentors, and angel investors.
Craig Elias - EiR Bow Valley College
Page 1 of 8 +1.403.874.2998 [email protected]
150 StartUps
5) Institutional Winners become Entrepreneurship Ambassadors toinspire and guide future first-time entrepreneurs on campus.
ProvincialWinners
2) Institutional representatives participate in Lean StartupChallenges that reward them for developing their ideas.
Institutional Representatives
3) At the Innovation Rodeo, institutional representativescompete in regional pitch competitions and regional winners compete in a provincial pitch competition.
Each college / university selects it’s most promising first-time entrepreneur
Regional Winners
First-time Entrepreneurs 1) On campus activities get aspiring first timeentrepreneurs to Ideate promising new startups.
4) Provincial winners and regional winners are provided out ofprovince opportunities to enhance their idea, skills and network.
Why Post-Secondary Students?
1Business with founders under 30 years of age had employment growth rates almost double that of those founded by people over 40. https://www.oecd.org/cfe/leed/Youth%20entrepreneurship%20policy%20brief%20EN_FINAL.pdf 2The average age of a first-time North American Entrepreneur is 43 years http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2015/05/kauffman_index_startup_activity_national_trends_2015.pdf
To accelerate the growth of Alberta’s
Knowledge-based Economy1 by creating
on campus ‘Entrepreneurship
Ambassadors’ that reduce the average
age of first-time entrepreneurs2 and
inspire future students to follow in their
footsteps while guiding them through
their first startup.
Craig Elias - EiR Bow Valley College
Page 2 of 8 +1.403.874.2998 [email protected]
1) On-Campus Activities
On-campus activities getstudents to Ideate promising
business ideas they want to pursue.
Expanding Entrepreneurial CapacityProvince-wide activities and resources that develop the competence and
confidence needed to create promising startups so aspiring first-timestudent entrepreneurs maximize their likelihood of success.
4) EntrepreneurshipAmbassadorsStudents become on-campusrole models that inspire and guide the next batch of promising first-time entrepreneurs.
3) Pitch Development
Pitch coaching and a province-wide pitch competition that raises funds, enroll others and generates word of mouth.
2) Skill Development
Institutional winners participate in a summer program that pays
them to develop their ideas and pitching skills.
On-Campus Activities (January to April)
Each post-secondary institution chooses the programs and activities it thinks are the best fit each and then selects it’s most promising first-time entrepreneur to continue with the 150 StartUps program.
Here are some examples of on campus activities:• Startup Bootcamp
An intensive hands-on program where students learn idea generation, opportunity identification & analysis, branding, sales, marketing and how to launching their idea.
• WannaB WednesdaysLunch & learn sessions that alternate between learning from successful entrepreneursand interactive problem-solving sessions with new or struggling entrepreneurs.
• Business Idea CompetitionsStudent’s compete for cash and prizes while they showcase their businesses oncampus, write a business plan, and pitch their idea to judges at a gala event.
• 10 Traits of Successful EntrepreneursA presentation on the common traits that successful Entrepreneurs have or buildbefore they start their first Entrepreneurial venture.
• 10 Steps to Turning an Idea Into A BusinessA presentation that shares practical, tactical, actionable steps that gets aspiringentrepreneurs to act on their aspirations and turns them into reality.
Craig Elias - EiR Bow Valley College
Page 3 of 8 +1.403.874.2998 [email protected]
Skill Development & Scholarship (May - September)
Those chosen to represent their institution, as promising first time entrepreneurs, participate in a summer skill development program so they can collaborate with each other, perfect their pitching skills, learn from each other’s mistakes, build industry connections, and create life-long bonds.
This is facilitated by delivering a program that includes:• Video training• Peer mentoring• Time with local role models• Lean Canvas kick off weekend• Pitch coaching and practice sessions
Lean Startup Challenges program provides thefollowing rewards:
• $500 travel voucher for the in-person kick off• Up to $750 upon the timely completion of milestone #1• Up to $1,500 upon the timely completion of milestone #2• Up to $2,500 upon the timely completion of milestone #3
Entrepreneurship Coop (Now a Provincial Program)
Successful entrepreneurs give back to the community by hiring aspiring first-time entrepreneurs for the summer.
Preference will be given to those entrepreneurs who are willing to guide/mentor aspiring entrepreneurs as they go through a summer skill development program as well as prepare them for the regional and provincial pitch competitions that happen at the Innovation Rodeo held during the Calgary Stampede.
Craig Elias - EiR Bow Valley College
Page 4 of 8 +1.403.874.2998 [email protected]
Pitch Development (May – July)
Sustainable
Feasible
Practical
Impactful
Pitch BookAn eBook that shares the pitch process, best practices, pitch examples and pitch tips from CEOs
Pitch CoachingGroup and one-on-one pitch coaching sessions that build the presentation skills and confidence of the Entrepreneurship Ambassadors
Pitch CompetitionsAt the Innovation Rodeo, the Entrepreneurship Ambassadors compete in regional pitch-offs for a chance to be part of the final pitch-off on Friday afternoon.
Pitch Competitions
Pitch competitions are used to create unmovable dates and to identify and provide funding to the most promising entrepreneurs in the province.
There are regional pitch competitions held during the of the Innovation Rodeo.
The regional winners then compete in a provincial pitch off on the final Friday of the Innovation Rodeo.
Craig Elias - EiR Bow Valley College
Page 5 of 8 +1.403.874.2998 [email protected]
LeaonardBerstien quote
Friday
Keynote speaker,provincial pitch contest
awards ceremony.
Thursday
Panel discussion, Innovation Challenge regional pitch contest
Tuesday
Panel discussion, Innovation Challenge regional pitch contest
Wednesday
Panel discussion, Innovation Challenge regional pitch contest
Monday
A kick off afternoon with a keynote speaker.
The Innovation Rodeo (July 8-12, 2019)
July 2019
S M T W T F S
1 2 3 4 5 6
7 8 9 10 11 12 13
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28 29 30 31
A week-long event where entrepreneurs are inspired and educated, first-time entrepreneurs compete as the most promising first-time entrepreneurs, innovation challenges are overcome, resources are shared, industry connections are built, and results are showcased.
Craig Elias - EiR Bow Valley College
Page 6 of 8 +1.403.874.2998 [email protected]
Entrepreneurship Ambassadors
Once the summer skill development is over,
each student entrepreneur returns to
campus as Entrepreneurship Ambassadors
to inspire and guide the next batch of 150
on-campus StartUps.
Regional DevelopmentThe knowledge, skills, and network that Student Entrepreneurs-in-Residence developed by participating in 150 Startups are shared with their community.
Working with Alberta Rural Development Network, Economic Development Officers, Community Futures Offices, Chambers of Commerce and Regional Innovation Networks they act as entrepreneurship catalysts by connecting aspiring first-time entrepreneurs with local, regional and provincial resources.
They grow rural entrepreneurship ecosystems to by finding speakers for on-campus activities, organizing workshops and acting as a resource for aspiring first-time entrepreneurs both on and off campus.
Craig Elias - EiR Bow Valley College
Page 7 of 8 +1.403.874.2998 [email protected]
A Repeating CycleStudents returning to campus as
Entrepreneurship Ambassadors repeats the cycle and helps
create student StartUpthe following year
Start SoonerEntrepreneurs that start in their 20’s start have abigger impact on the economy1
Grow FasterTeach Entrepreneurs how to develop skills quicker and help them solve problems sooner
The Impact
Reach FartherBroader more diverse networks
result in far more exports and accelerated commercialization
1Business with founders under 30 years of age had employment growth rates almost double that of those founded by people over 40. https://www.oecd.org/cfe/leed/Youth%20entrepreneurship%20policy%20brief%20EN_FINAL.pdf
Future ProjectsTo continue on the success of 150 Startups we are currently investigating three additional initiatives to help more students become first-time entrepreneurs right after they graduate, instead of 43 - the average age of a first time entrepreneur in North America.
1. Researching the economic impact of students starting their first business at 23 instead of 43.
2. Creating a framework to extend the payment and interestfree status of student loans for up to three years whenstudents start a business within 6 months of graduating.
3. Building a mechanism that allows students to do a management buyout ofbusinesses owned by those 65 to 70 who don’t have succession plan or buyerscurrently interested in their business.
Craig Elias - EiRBow Valley College
Page 8 of 8 [email protected]
