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Oct 30, 2015
Tips for Canadian Startups Looking for Investment from the Big Apple
In a recent article from betakit, Mike Woronuk, the Trade Commissioner of the Canadian Technology Accelerator (CTA) program in New York City, offers some insightful advice and tips on how Canadian startups can succeed in the Big Apple. Making it in New York is no easy feat. Frank Sinatra made this clear back in 1977 when he famously told us that "if I can make it here (New York) I'm gonna make it anywhere." But, just because New York is known for intense competition, that doesn't mean it's impossible for Canadians to be successful there - though it's imperative that Canadian founders have an understanding of how the City's startup ecosystem functions.
Woronuk begins by noting the competitive nature of New York's venture ecosystem. However, he is quick to point out that there remains a number of opportunities in the city if you can demonstrate "how your solution can apply to everyday business right now." He recommends Canadian founders focus their pitches and meetings on proving that their idea or solution can sell and to provide case studies for how it will drive return on investment (ROI). He also emphasizes going into meetings prepared with hard numbers and facts about how the idea or product is integral to success; as opposed to Silicon Valley, which he considers to be more interested in looking for "uniqueness" and how a new technology or product can "disrupt" a particular industry.
The CTA, itself, is also a valuable resource for Canadian founders thinking of going south of the border for funding, as it endeavours to support Canadian startups looking to strengthen their angel and VC investor network, land marquee clients and partnerships, and explore the expansion of business development operations into New York City. Check out the full article for all of Woronuk's tips and for more information on the CTA in New York, click here.