NACO Canada reposted this
Slack, founded in Vancouver by Stewart Butterfield, started with $1.5 million in angel capital. Sixteen years later, it became a $27.7-billion company with $1.7 billion in annual revenue and a global team of over 2,500 employees. Canada’s entrepreneurs are world-class. But too many groundbreaking companies never get their first rounds of funding. And it takes way too long to raise capital. Without risk capital at the earliest stages, breakthroughs stall, momentum fades, and global opportunities slip away. The difference between a billion-dollar company and one that never takes off? Often, it comes down to the right investors—those who provide more than just capital, offering access to networks, follow-on funding, and strategic partnerships. As Michele Romanow says in today’s Globe and Mail, “a single angel and a single company can reshape a country.” We couldn’t agree more. #AngelInvesting #RiskCapital #InnovationEconomy #Entrepreneurs #NationBuilders #FounderJourney #NACOSummit
I had no idea Slack was Canadian 🤩
Thanks for sharing 🎉🎉
Invested in Slack and so glad I did! Working at Flickr, I got a first row view of Stewart Butterfield's capabilities.
Totally understand funding gaps especially in a monopolized industry like tourism which is struggling too. Our product breaks the mold of tourism monopolies, but there is no assistance for our new award winning Experience Community Program.
Claudio Rojas I could not agree more. Raising capital in Canada is challenging - very risk averse. “We like to fund series A” or “call us when you have a lead investor” is something I have heard multiple times.
Yup, three of my last five investments were in Canada (all in BC, actually), in part because the Canadian investor dynamic isn't the way it is in the US. However, that very dynamic causes the pressure on Canadian entrepreneurs to seek US funding. However, bold Canadians, fear not! Of the 50 US states, I could name 40 of them with a similar constrained investor base, or a similarly difficult investor sentiment. California, Massachusetts, New York, Texas, Washington, Illinois, Oregon, and a handful of others are where most of the early stage investing happens. So, on that scale, Canada is way ahead of the "average" US state.
I agree. This is exactly why I’m adamant that now, more than ever, we must focus on underrepresented groups who are still not getting access to this capital.
Let's goo! 🇨🇦🚀
It's incredible how early-stage support can transform visions into billion-dollar realities. Investing in Canadian innovation truly fosters global opportunities and paves the way for future successes.
CEO/Founder at OrbMB Technologies
2wThere are also institutional barriers that must get cut down. Here's a story. As folks know, I have a severe stutter and use the SpeechEasy hearing aid to talk. It is life-transforming tech. It was invented at Dalhousie U. in Halifax. The three scientist creators couldn't get support in Canada, gave up, found a welcoming university Stateside, moved there, built a new scientific team, continued the R&D, and then the scientists and university spun it off to a medtech company that now services the world. And East Carolina U. has become a leader in the evidence-based speech therapy advancement that was not wanted in Canada.