Congratulations to Robert Lemoine of Unique Diesel Solutions for winning the Startup Greater Moncton pitch workshop on May 29, 2019. Special thanks to organizer Simon Gauvin and the great team of panelists: Michel Chiasson, Yves Boudreau, and Frederic Laforge who gave their time to really aid the group of local entrepreneurs. Also, a big thanks to McKenzie College for the venue, and Andrii Gulin for the great video.
Many young businesses tend to ask, “what is the best way to acquire investors in my business?”
The answer is… there is no best way. Finding investors is a process, it takes planning and hard work. But here are a few tips that may make find your perfect investor a little bit easier.
1.) Have a well-thought-out business plan
The very first thing you need to do it get investors interested in your business is to sit down and really take the time to create an organized business plan. How do you plan to grow your company and make it profitable? If you’re having troubles establishing your business plan, companies such as; 3+ Corp¹, Community Business Development Canada² (CBDC) or, Futurpreneur³, can work with you to construct an effective business plan.
2.) Networking to build relations
Network building is crucial when looking for investors. If you have a vast network of relationships finding investors becomes much easier. With high community standing investors may even seek you out! Get yourself out there, go to events and meet some new people you never know who you might run into. If you’re not sure where to start your networking, start here; StartUp Moncton¹ (SUM). The Chamber of Commerce for Greater Moncton² (CCGM) is also an excellent place to start networking. Another great way to network is through social media, for example, LinkedIn. LinkedIn is a great way to connect with companies and business owners in your area. Facebook, Twitter, Instagram, and so on; are also good but are they are more personal so be aware of what you post. By getting involved in local events, getting yourself out there and keeping a social media presence you will have a stronger growing network in no time; with a strong network comes people looking for investment opportunities.
Once you have an investors attention you are going to need to keep it. This is where an out-standing pitch is needed. Make sure you know what you want to say, explain to them exactly how investing in your business will make them money. Don’t beat around the bush; be direct. If you’re not feeling confident in your pitch, there are always ways to improve. Take the SUM pitches competition, for example, it’s a perfect opportunity to practice your pitches.
4.) Accelerators and incubators
If after going through the first three steps you still need a boost to find investors, accelerator and incubator programs are a good way to do so, but what are accelerators and incubators?
Accelerator programs come from companies such as B-Corps¹, Venn Innovation² and propel ICT³. Accelerators take your business through roughly 2 years of business growth within a few months. They provide you with a small starting capital and connect you to mentors in your field. At the end of the program, there is typically a demo show of sorts to display how your company has grown, thus attracting outside investors.
Incubator programs may take on earlier startups but they tend to be more specific depending on their sponsor. For example, an incubator program sponsored by a school may only be looking for educational startups. Usually, when accepted into an incubator program you will be relocated to work with other companies in the same incubator program. Co-working is a major part of an incubator program; you have shared workspaces and help refine each other’s ideas. The program will provide you with external mentors as well as a connection to the community. A couple of examples of this are the Hive la rouche¹ and Volta².
Both these programs are beneficial if you find the right fit for you. However, in either scenario, you will be connected to the community and longtime professionals in your field; building your network up and attracting investors. Hopefully, these tip help find the investor you’ve been trying to rope-in for so long.
If you’re still interested in learning more about accelerators and incubators, or even investors in general, here a few links to check out;
Welcome / Bienvenue to our Entrepreneurs who will have registered a table to showcase their companies and will have an opportunity to speak at our event April 23rd at the Dieppe Public Library,
Speaker – Futurpreneur
Futurpreneur Canada has been fueling the entrepreneurial passions of Canada’s young enterprise for two decades. We are the only national, non-proﬁt organization that provides ﬁnancing, mentoring and support tools to aspiring business owners aged 18-39. Our internationally recognized mentoring program hand matches young entrepreneurs with a business expert from a network of more than 3,000 volunteer mentors.
Workspace Moncton is a community of bold minds who have chosen to work under the same roof. Our environment and the people around us inspire us to take action, to grow, to do better. Our Downtown location offers meeting space and private offices as well as co-working memberships
StanceWise is a provider of marketing and business training services, as well as a builder of an entrepreneurial and small business owner community. We offer weekly training and workshops, private and shared office space, and one on one and group coaching opportunities. We challenge entrepreneurs to push beyond the limits of their mindset (“their stance”) and give them the tools and support they need to build their business into an asset that will enrich every aspect of their life!
We offer personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets, through our global team of approximately 90,000 Scotiabankers.
Public Services and Procurement Canada – Office of Small and Medium Enterprises
The Office of Small and Medium Enterprises (OSME) in Public Services and Procurement Canada (PSPC) advocates on behalf of small and medium enterprises (SMEs) and encourages their participation in federal government procurement. The Government of Canada purchases approximately $20 billion of goods and services each year – OSME can help businesses navigate the federal procurement process by raising awareness of opportunities and explaining the benefits of using Buyandsell.gc.ca, the federal portal to procurement information.
We would like to invite you to our upcoming networking event on April 23rd, 6pm – 8pm, at the Dieppe Public Library.
Speaker – Futurpreneur
Tables to showcase your business are available for $50. To fill out the Vendor Registration Form click here.
We hope to see you there!
Debbie Collins in Ottawa this week for Startup Canada’s annual Day on the Hill, representing Startup Moncton.
We’re here meeting with federal government ministers and our MPs, lobbying for the 2.3 million entrepreneurs across Canada. We work with our regional MPs to continue to build support for the growing and thriving entrepreneurial eco-system. It’s a packed 3 days here on the Hill.
Approximately 80 local entrepreneurs gathered for the Startup Greater Moncton networking event last night! Big thanks to Canada Business the Dieppe Public Library, NBCC Entrepreneurship, DAVIDsTEA and all the great community volunteers.
Recruitment now open for NBCC OASIS mentorship program
NBCC’s OASIS program is accepting applications for its fall session in Moncton. Different from other mentorship programs in both delivery and scope, OASIS is an innovative program where entrepreneurs can find a home. The program matches small business owners with experienced mentors all through a unique, structured, and multi-leveled mentorship process.
OASIS is a community mentorship program offered to small business owners allowing them to work ‘on’ their business while working ‘in’ their business. There are professional development sessions that run throughout the 12 weeks, but the mentorship meetings with assigned mentors are coordinated by participants around their schedules.
The only cost to the small business owner is their investment of time. You will meet with your mentor and attend professional development sessions totaling 10-12 hours over 12 weeks.
The program’s success is based on tactical mentorship activities, professional development
OASIS also boasts a 97% satisfaction rate amongst our participants. And now we’re excited to watch this program grow in a new area. We are recruiting for both OASIS mentees and mentors. OASIS is open to small business owners currently in need of support and guidance to reach their business goals. We are also seeking mentors who want to support these owners.
97% say the OASIS program met their expectations
94% were satisfied with their mentorship match
97% would recommend the program to other entrepreneurs
96% said they believe their leadership as a business owner has increased
57% has seen a positive increase in revenue
56% have experiences growth in their social media exposure
45% have seen their client base rise
Further information about the program, as well as applications, can be found online. Check us out online at www.nbcc.ca/entrepreneurship or call our program coordinator at 506-778-6746. Applications are open until August 21.
Program seats available in Moncton for Fall session (September-December 2018). Apply today! Also recruiting for MENTORS in the Moncton area.