propel ict 2014 agm
DESCRIPTION
AGM presentation contain Propel 2.0 changes, new directors and Cohort 5 plansTRANSCRIPT
Annual General Mee+ng August 24, 2014
Agenda 1. Call to Order 2. A Year in Review 3. 2014 Onward 4. Fall 2014 Plans 5. Adjourn
Year in Review 2013-‐2014
Thanks to our Sponsors
Propel’s Vision We will become the global leader in decentralized new venture accelera+on, taking entrepreneurs throughout Atlan+c Canada from concept phase to successful opera+ng companies.
We will be the primary catalyst for the crea+on of a vibrant entrepreneurial community in Atlan+c Canada, helping guide and grow new companies and new ideas.
Our efforts will create successful companies, new jobs and new wealth in Atlan+c Canada.
Success Stories A year of progress trending upward
Four Companies in Cohort 4 Received Funding from BDC
31 companies launched to date through Launch 36. We are on track to hit our target of 36 companies in 3 years.
Two companies in Cohort 2 Received Funding from BDC
Three Companies in Cohort 3 Received Funding from BDC
2013 Challenges
1. Growing volunteer fa+gue 2. Understaffed for ambi+ons 3. Underfunded for ambi+ons
2014 – Scaling Up Board of Directors developed a plan to scale up the organiza+on. Plan addressed three key issues:
1. Funding 2. Staffing 3. Op+miza+on of volunteer cycles
Bylaws rewriXen to reflect organiza+onal focus. Jeff Thompson engaged to lead the development of Propel 2.0 plan.
Bylaw EvoluEon The bylaws of the board reflected the original structure of Propel from 2004. In partnership with William Kean of Brenton Kean, the bylaws were updated and accepted by the board on January 24th, 2014.
Key changes include.
Ø Defining membership as the private sector sponsors. Ø Allowing board size to range from 3 to 14 as needed. Ø Recons+tu+ng the Execu+ve CommiXee as President, Past-‐ President,
Vice-‐President, Secretary Treasurer, and Execu+ve at Large. Ø Seang up built-‐in succession process (VP à President à Past President).
Bylaw Mo+ons
MoEon One The general by-‐law of the Company dated April 19, 2002 be repealed and the form of general by-‐law submiXed to the directors of the Company which is marked as By-‐law No. 2014-‐1 and relates generally to the conduct of the affairs of the Company is hereby enacted and made By-‐law No. 2014-‐1 of the Company.
MoEon Two The draf financials of the Company as of March 31st, 2014 are hereby approved.
MoEon Three To appoint the firm of Curry & BeXs, Chartered Accountants to serve as auditors for the 2014-‐2015 fiscal year
Moving Forward
Returning Directors Tim Burke
Dave Grebe
nc
Susan Ho
lt
ScoX
MacIntosh
Jeff Thom
pson
Gerry Po
nd
New Directors Rob Cowan Steven Burns Jeff Grammer
Gerry Lawless Jo Mark Zurel
ExecuEve CommiSee Jeff Thompson –
President Dave Grebenc – Vice President
ScoS MacIntosh – Past President
Gerry Pond – ExecuEve CommiSee Member at Large
TBD – Secretary / Treasurer
DeparEng Directors David Baxter Shawn Carver
Denis Desrosier Dan Doiron
Ian Moores Anita Punimaya
Larry Sampson
MoEon Four To approve the recommended slate of directors and execu+ve.
Propel 2.0 Five Year Plan
Key PrioriEes 1. Programming for early vs. later stage startups. 2. Regional expansion with community partners. 3. Propel Alumni program. 4. Strengthen mentor network. 5. Resource for growth.
Programming Build
Customer Acquisi+on
Start Validated Learning
Chasm Early Majority
Scale Shifing Gears
Validate the idea with Lean Startup.
MVP planning and development.
Founding team.
Secure early adopters.
Honing sales
model. Deeper bench strength.
Framework to scale
across people, process, and systems.
A repeatable sales
model.
Clear customer value proposi+on.
Metrics to drive and grow the business.
Metrics to support shifing gears.
Scale up sales, marke+ng and development.
Series “A” ready.
Programming Early Stage: ü Validated learning ü Lean Startup ü Develop first release ü Founding team ü Early adopters
Late Stage: ü Customer acquisi+on ü Honing sales model ü Deeper bench ü Framework to scale ü Clearer path ahead
START PHASE PROGRAM
BUILD PHASE PROGRAM
Regional Expansion
Fall 2014: ü Planet Hatch (NB) ü Volta (NS) Winter 2015: TBD (NL) Fall 2015: TBD (PE)
START PHASE PROGRAM
BUILD PHASE PROGRAM
Fall 2014/Ongoing: ü Virtual Cohort Expand to community partners when demand warrants.
Alumni Program Growing network of Propel Alumni Develop skills for scaling and growing A step closer to the ‘$1-‐billion company’
SCALE PHASE PROGRAM
CHASM PHASE PROGRAM
Strengthen Mentor Network Core to the success of cohort and program:
Ø Develop guidebook for new mentors Ø Inventory skills & experience in the network Ø Grow advisor, expert and investor mentors Ø Interna+onal reach with Clarity.fm
Strengthen Mentor Network Entrepreneurs In Residence:
Ø Coach and advisor to cohort companies & alumni Ø Shif from volunteer coaches (growth inhibitor)
Resources for Growth 5-‐Year Financial Forecast:
Ø Build on strong private sector support Ø Amplify with support from public sector Ø Year 5 must have a clear path to sustainability
Resources for Growth Staffing Plan:
1. CEO (Fall 2014) 2. VP Business Development (Fall 2014) 3. Office Manager (Fall 2014) 4. Entrepreneur In Residence #1 (Late 2014) 5. VP Programming (Late 2014) 6. Entrepreneur In Residence #2 (Mid 2015)
Cohort 5
Timeline
Sept 8th
Applica+on Deadline
Sept 12th
Selec+on Camp
Sept 22
• Start (x 2) • Build
Nov 18th
• Demo Day • Loca+on: TBD
SelecEon Process
• Selected based on company’s maturity level and considered for the appropriate program.
• Reps from Planet Hatch, Volta and Propel will take part in F6S.com evalua+on
Date: Sept 12th
City: Moncton, NB Format: 6 min pitch to judges
SelecEon Camp
Track Candidates (Max #)
Max # of Cohort Companies
18 9
18 9
12 6
Total 48 24
32 24 56
Alumni
New Startups
In < 36 Months
Alumni Next Cohort Startups in < 36 Months
Start program
ü Pick the right co-‐founder and team. ü Use lean methodologies for customer valida+on.
ü Secure early adopters or first customers. ü Is there a repeatable sales model?
Time SESSION TITLE
Sept 22 5-‐8pm ORIENTATION
Sept 24 5-‐9pm FOUNDER TEAMS & VISION AND IDEA
Sept 29 5-‐9pm RESEARCH AND CUSTOMER DEVELOPMENT
Oct 1 5-‐9pm REVENUE MODELS
Oct 6 5-‐9pm MENTOR360 REVIEW
Oct 8 5-‐9pm LEGAL
Oct 20 5-‐9pm DEPLOY OR DIE
Oct 22 5-‐9pm THE ART OF STORYTELLING
Oct 27 5-‐9pm MENTOR360 REVIEW
Oct 29 5-‐9pm SALES (Early adopter focus)
Nov 5th 5-‐9pm RASING CAPITAL/FUNDRAISING
Nov 18 TBD GRADUATION/Demo Day
Build Program
ü Refine a repeatable model for customer acquisi+ons
ü Strengthen the startup team ü Create a framework to scale people, process and systems.
ü Find Product/Market fit ü Learn to be data informed, not data driven
SESSION TITLE Sept 25/26 Orienta+on & Founder Team Dynamics Oct 2/3 Startup Metrics Oct 9/10 Go To Market & Tac+cs Oct 23/24 Pitch Coaching Oct 29/30 Scaling your team, processes and systems
Nov 6/7 Financial management, Board management and “Series A” readiness
Nov 13 Demo Day Dry run Nov 18 Demo Day
$150k BDC note
Demo Day
• Up to 6-‐8 presenta+on slots (main stage) • Companies will have to earn the right to pitch • Start and Build teams will have “tradeshow” tabletops to demo and pitch aXendees
3 Things
Applica+on Deadline is Sept 8th
Scalable & regional
We will exceed our original goal by November
MoEon Five To adjourn the annual general mee+ng of Propel ICT.
Thank You