Although I’ve only been working within the broadly-defined “Ontario Commercialization Network” for a little over a year now, I can say that I’ve been impressed with the efforts being taken to foster a culture of innovation and entrepreneurship in the province.  The breadth and scope of the organizations, networks, and institutions committed to reinventing Ontario’s economy for the 21st Century makes me feel as though my tax dollars are being spent at least somewhat intelligently.  Check out MaRS Discovery District’s website for a great overview of the different organizations in your neck of the woods (here).

Of particular interest to me, are the earliest stages of company formation because of the inherent creativity required during this critical phase.  This is why it’s great to see organizations such as MaRS, Communitech, HTX, TechAlliance, and many others supporting entrepreneurs when they need it most.  Although entrepreneurs occasionally need to be told honestly that their ideas are unfeasible or require re-working, these organizations provide a valuable service simply by being there to give general guidance on the new venture process. 

I’ve come to realize that one of the biggest challenges for entrepreneurs innovating in a technical capacity is their ability to form a coherent, market-focused approach to communicating their business concept.  A message to the technical entrepreneur: please, think about the problem first, and the technology second. 

Given entrepreneurs inherently optimistic outlook, it’s always nice to be able to do a “sobriety check” before shopping a business plan around to potential investors.  The Ministry of Research and Innovation’s Business Mentorship & Entrepreneurship Program (BMEP) and their Market Readiness Program is almost like the R.I.D.E. program, but for entrepreneurs.  Starting a new business can sometimes be an intoxicating experience, which is why it’s helpful to have a sober friend to give you his/her two cents. 

- Alec Miller, Resident Business Analyst
  alec [dot] millertechalliance [dot] ca