Annual Report2015-16
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Table of ContentsMessage from Haltech CEO
Haltech Overview
Our Team
Board of Directors
Our Sponsors
Client Services Review
Client Spotlights
Events & Community Outreach
Future Forward Priorities
Halton Startup Ecosystem Partners
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12-16
17-18
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haltech.ca
Haltech is a non-profit corporation supported by the Government of Ontario,the MaRS-Business Acceleration Program (BAP), and corporate sponsors.
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a co aborative ommunity
helping tech companies accelerate innovation
partnering for prosperity
supporting startups to scale for business growth
Haltech is...
Message from Haltech CEO“We are delighted to share with you the results of our work during the past fiscal year 2015-16, which was a time of reflection, renewal and incredible transformation at Haltech. Many things have changed - our programs, team, community events and our new logo and brand that represents growth, dynamism and evolution. These are also values that we aspire for our clients, our economy, and for Haltech. With the continuing support of our community members, corporate sponsors and partners, funders, board of directors and clients, Haltech will deliver its new vision and plan to provide personalized business innovation services and programs that help tech entrepreneurs and companies accelerate innovation and grow their business. We look forward to playing a key role in developing Halton’s prosperous future. We know it is a collaborative community that is actively building a strong and vibrant culture of innovation; is the home base of world-class corporate innovators and entrepreneurs; that invests in tech startups and small business ventures; and that integrates smart, clean technologies in our cities and daily life. Together, let's roll up our sleeves and deliver this exciting vision." - July 2016
Rina Carlini, PhDPresident & CEO
investing in young entrepreneurs
...building a culture of innovation in
Halton.
Halton's regional innovation centre
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We offer a trio of services to support tech companies in our community:• Business Innovation Services, including
our structured program of startup servicescalled Haltech HEATTM, which providesmilestone-based advising tailored for everystage of business development.
• Entrepreneur Development, a program ofseminars, hands-on workshops and personalcoaching to build skills in entrepreneurship,business operations, commercialization andinnovation management.
• Corporate Innovation Support, offeringassistance to corporate sponsors for theirinnovation projects, helping to advance newtechnologies, products and strengtheningHalton’s innovation ecosystem.
In this 2015-16 Annual Report, we share with you the statistics and outcomes of our business services. You can also read the profiles of selected high-growth Haltech companies in this report, and also on our website News column. We conclude this report with a look forward to the future programs and priorities that we are developing and deliver to our community. We hope you enjoy reading this report and we welcome your feedback and ideas for the future. You play an important role in our community, so why not join us at our next community event and share your ideas - we’re here to help you.
Haltech is at the nexus of Halton Region’s innovation ecosystem, working in partnership with technology companies, municipalities, academic institutions, corporate sponsors, funding agencies and investors to accelerate innovation for business growth. Our mission is straightforward: we help technology entrepreneurs and companies to develop and transform their good ideas and product innovations into well positioned, growing ventures.
Haltech is a member of the Ontario Network of Entrepreneurs (ONE), and since we first began operating in 2011, we have supported nearly 600 startups and entrepreneurs across the Halton and west-GTA regions, several of whom have grown into successful commercial businesses. Our team of experienced and dedicated business innovation professionals, startup mentors and Entrepreneurs-in-Residence (EIRs) are central to the business advisory work we do with companies in the following technology sectors: Advanced Manufacturing, Digital Media & ICT, Clean Technology, Life Science & Healthcare IT, and Education Technology. Of course, we have also worked with companies in other diverse sectors such as Agricultural & Food Science, Mining & Materials, Consumer Goods and Social Innovation.
From startups to large corporations, Haltech has the resources and network partners to help you advance your technology-based innovations to the market or to scale up your business.
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Haltech HEAT™
Customer Acquisition & Market Development
Ideation & Company Creation
Scaleup &Revenue Growth
IGNITE
ACCELERATE
RADIATE
!
Haltech's services are geared for technology companies in the following sectors:
Advanced Manufacturing
Digital Media & ICT
Clean Tech Life Science & Healthcare IT
EducationTechnology
Haltech HEATTM is our signature program of tailored business innovation services that support tech companies at every stage of business development. The goal of Haltech HEAT is to educate and accelerate tech companies toward revenue and scale-up milestones by way of a structured program.
We provide tech companies and entrepreneurs with comprehensive business advising, support for product development, access to investment and funding opportunities, pitch exhibitions and business promotion, entrepreneurship development workshops and extensive networking.
Accelerate and grow your company through a milestone-based program with the support of our Entrepreneurs-In-Residence and startup advisors.
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Haltech HEAT™Haltech HEAT™ offers our clients three levels of business services, each offering benefits customized to suit the development stage of your startup:
IGNITE is for entry-level entrepreneurs focused on Ideation & Company Creation.• Free entrepreneur development workshops & events• Advising from Haltech Business Consultants• Access to MaRS Market Intelligence research• Referrals to service professionals (accounting, legal, etc.)
ACCELERATE is for market-ready startups focused on Customer Acquisition& Market Development• ALL IGNITE LEVEL SERVICES PLUS…• Advising from Haltech Entrepreneur-In-Residence• Access to funding and grant opportunities• Marketing PR and client spotlight stories• Coaching for investment pitches• Extensive networking and exhibitions
RADIATE is for high-growth startups focused on Scale-Up & Revenue Growth.• • • • •
ALL ACCELERATE LEVEL SERVICES PLUS…Extensive advising from Haltech Entrepreneur-In-Residence, similar to “Embedded Executive”Facilitated introductions by Haltech Entrepreneur-In-Residence to seed/VC investors Access to high-profile pitch opportunitiesScale-up and global markets business advising
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Our Team
Rina Carlini, PhDCEO & President
Izabela GoclikEvents & Office
Coordinator
Evan ClarkBusiness
Consultant
Kevin Ming, PhDBusiness
Consultant
Lynn ForgeronCFO
Anne StewartFinancial
Administrator
Judy LindenbachEntrepreneurin-Residence
Bruno MaruzzoEntrepreneurin-Residence
Wayne MaddeverEntrepreneurin-Residence
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Vincent MifsudEntrepreneurin-Residence
Xeryus DivechaMarketing &
Communications
Michelina WilliamsonCommunications
Coordinator
Many thanks go to our growing team of volunteer mentors !
Pete Sprukulis - EVP Marketing, BellAndre Leidenheimer Ruiz Soler - Mareting Director, Microsoft CanadaJohn Dransfield - Director, V.J. EnterprisesBarry Shama - Operations & Sales ExecutiveDave Freeman - GM, SPINS LLC; angel investorSharwatie Ramsaywack - Technology Innovation ConsultantRobert Maduri - President, Throwback EntertainmentKeith Loo - Open Source Manager, Microsoft CanadaVan Le - Founder, NetFunctional
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Board of Directors
Rina CarliniDirectorCEO & President, Haltech
John DavidsonDirector
Director, EconomicDevelopment at
Halton Region
Robert DuvallDirectorCTO & President, Robert Duvall Consulting
Ralph BenmerguiBoard Chair & DirectorExecutive Director, StrategicInitiatives & Partnerships;Sheridan College
Jamie BarronFinance Chair & Director
Independent Director
Lucie LalumiereDirector
Founder & Principal/COO,Lalumiere Media/Supersonic
Minds
Emily MooreDirector
Managing Director - Water & Environment,
HATCH
John CarlanDirector
Managing Director,Javelin Technologies
Anthony KhoraychDirectorCEO & President, Advanced Test &Automation
Anna GaloniDirector
Vice Chair, Thomson Gordon Group
Tanya LeedaleGovernance Chair & DirectorPartner, Certified Specialist, O’Connor MacLeod Hanna LLP
Frank McKeownSecretary & TreasurerExecutive Director, Burlington Economic Development Corporation
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Our Sponsors in 2015-16
Regional Strategic Partners
Innovation Champions
Enterprise Leaders
Community Leaders
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Client Services, Fiscal Year 2015-16
Total Advisory Hours
1176That’s 147 days
of advising!
~11.5Average Hours
per Client
104Unique Clients
Served
68Total New Clients
44Avg. Active
Clients/Quarter
6.4%
1.9%
5.8%
13.5%
Haltech's Female & Youth Founders
FY2014-15 FY2015-16Female Co-Founders Youth Co-Founders
4-fold increase in Haltech’s youth-led startups,year-over-year
28% of Haltech’s program funding was targeted for young entrepreneurs and youth-led programs.
6% of Haltech clients are female founders – few are operating tech startups.
Client Revenue Sources
Domestic
54% 46%
International
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$11.8 million annual revenue in 2015 (earned by 54 surveyed clients)
50 Jobs created by 54 surveyed clients
32 Patents & Trademarks Filed
6 Patents Issued
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Digital Media& ICT
AdvancedManufacturing
Clean Tech
Life Sciences& Healthcare
EducationTechnology
Other
Company Distribution by Tech Sector
Funding Source Distribution for Haltech Startup Clients
Self-Funded
Friends & Family
Grants - Federal& Provincial
Angels
Venture Capital
$250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000$-
Haltech’s startup clients raised over $3.1 million in 2015
Company Age Distribution
20 Over 60 Months
16 36 to 60 Months
20 24 to 36 Months
7 12 to 24 Months
9 6 to 12 Months
32 Pre-Startup 0 to 6 Months
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
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Client Services, Fiscal Year 2015-16
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By the Spring of 2015, the company launched their 3D-printed jewelry brand on The Shopping Channel, which greatly increased their exposure. Soon after, they were nominated for a Canadian Arts in Fashion Award for emerging designer, and caught the attention of Orpheus, the global fashion intermediary. With locations in Berlin and Dubai, their jewelry is now in the hands of buyers of luxe goods from across Europe and the Middle East. On March 17, 2016 their 3D-printed collections and novel large scale pieces were showcased at the 2016 Toronto Fashion Week. Since their inception, the company has experienced exponential growth in jewelry production and sales. Currently, their products are designed in Canada and manufactured in Hong Kong. However, their ultimate goal is to have all of their operations, from concept design to prototype and final production in Canada. Haltech connected co-founder Heng Tang with Javelin Technologies, a growing and successful CAD/CAM design and 3D printing company in Oakville, as a possible means to make that goal a reality.
A technology that was once reserved for prototypes of resin based machine parts has now gone luxe with gold, silver and platinum jewellery that combines the traditional skill of old with futuristic new. Where traditional jewelry production involves a goldsmith, wax or resin molds and hand working the metal to create the original piece, Daniel Christian Tang, a Canadian startup company, has turned tradition on its head with their 3D metal printing process.
The company’s founders are Luca Daniel Lavorato, Mario Christian Lavorato and Heng Tang Quanh. Their combined skills in Architecture, Civil Engineering, and 3D printing and design prove to be invaluable when creating jewelry with precious metals. “While luxury jewelry is, first and foremost, appealing to the eye, high standards of quality and durability must also be considered,” says Luca. “Driven by the size of the 3D printer bed, which determines the possible intricacies of design, we knew we had the talent and equipment to create unique and highly attractive jewelry unlike anything on the market today.”
• Securing funding from OCE SmartStart grant program in 2016
• Extensive investment pitch coaching at three pitch & exhibition events in 2016
• Presented at Haltech 's Hi5 Startup Source investor event
• Facilitated introductions to luxury jewelry brands (Rolex, Saks Fifth Avenue)
• Introduced R&D partners such as Sheridan College’s CAMDT & Javelin Technologies for product development support
• Provided free tradeshow booth at 2016 OCE Discovery event($1500 value) & Angel One Network's First Look investor showcase event
• Provided $46,450 worth of MaRS Market Intelligence research reports to support funding pitches
www.danielchristiantang.com
How Haltech has supported DCT
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• Supported application for OCE SmartStart program.
• Seed investment pitch coaching for 4 pitch events in 2016
• Provided $15,100 of MaRS Market Intelligence research reports
• Provided free tradeshow booth at 2016 OCE Discovery show ($1500 value)
• Presented at Haltech's Hi5 Startup Source investor event
ChargeMore is a designer and manufacturer of portable battery powered mobile phone charging stations ideal for restaurants, waiting rooms, and tradeshows.
The charging stations are cable-free, portable, and can charge up to 4 devices simultaneously. They can charge 50+ customer devices with just one 4-hour charge and are 2x faster than wall adapters. They also offer 360° of advertising space in a small table-top footprint with a swivel base. The stations have been extensively field-tested and are now available across North America.Jack Bernstein, founder and President of ChargeMore, was tired with missing important business calls due to having no
• Secured IRAP/BAP funding
• Supported grant applications forOCE SmartStart program
• Investment pitch coaching
• Facilitated introductions toinvestor groups, leading toearly-stage investment
• Provided free tradeshow boothat 2016 OCE Discovery show($1500 value)
ChargeMoreTM
Terry Whyte bring product development expertise to the team.
The company was at an early business stage with a protoype platform and a few customers when they first approached Haltech for support in January 2016. By 6 months later, Cellbie has gained significant market traction; attracted investor interest and signed contracts with several large North American wireless carriers. Their rapidly growing customer base speaks to their potential to disrupt the cell phone resale industry.
Cellbie wants to disrupt today’s closed buy-sell system by creating an efficient, open, and credible e-commerce platform for used smartphones, which is a fast-growing segment of a $500 million market. Compared to the current used smartphone trade-in process, where there is only a single type of buyer that controls the market, Cellbie’s e-commerce platform allows many buyers to access the market, benefiting consumers, retailers, and buyers.Co-founders Scott Bell and Mark VanderHeyden are serial entrepreneurs with proven success in the telecom and wireless communications markets. Dave Wormald and
How Haltech has supported Cellbie
How Haltech has supported ChargeMore
battery charge on his cellphone. That everyday "pain" was the driving force behind his motto, “Free phone charging is the new free WiFi.”
“Haltech has greatly impacted my business by introducing me
to new investors, giving me key insight on government grants
and programs, and advising me whenever I have a problem.
Without the people at Haltech we would not be where we are
today!"
Jack Bernstein, Founder & President of ChargeMore
Scott Bell Terry WhyteDave WormaldMark VanderHeyden
Jack Bernstein, CEO & President www.chargemore.ca
www.cellbie.com
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innovation made a quick impact in the events industry. A big client was Ontario Centres for Excellence (OCE), a large non-profit organization that supports entrepreneurs and technology companies. Their annual Discovery event held in Toronto is a large exhibition involving two days of programming that attracts more than 3,000 attendees, nearly 100 speakers, pitch competitions and a massive exhibitor expo. After being introduced to OCE’s Vice-President of Marketing by Haltech, Randy had pitched and secured the contract for the event website, mobile app and social media wall.
In only a short time, Events Driven has made an impression within the online event management industry. Randy and Kinh are now well-position to secure funding to grow their business and hire more technical and sales staff. The entrepreneurial ecosystem in southern Ontario has been a huge support for Events Driven, and with the connections they’ve made through Haltech and its affiliation with the Ontario Network of Entrepreneurs, they are accelerating innovative enhancements to their software platform that is sure to drive success in global markets for the startup.
Events Driven, a full-service event technology solutions company, was co-founded by Randy Esguerra, its CEO. The Milton, Ontario resident spent over 15 years of his career working on numerous event management and registration systems. He saw first-hand the frustrations his clients experienced when relying on 2 to 3 separate event management systems, which were costly and time-consuming. He decided that the industry needed a robust event management platform that integrated all the best features, which would help cut down costs, resource time and eliminating manual and redundant tasks. This became the driving force behind Events Driven, an online event management platform that offers a suite of event planning tools and services include an integrated event website, mobile app, custom online registration forms, onsite registration support and many more features to make your event a success. With his CTO & Co-Founder Kinh Duong, their startup is now disrupting the web/mobile event management platform industry by providing a smooth and seamless experience for both event planners and attendees.
Once the pair launched their startup in 2014, their technology
• Haltech client since 2013
• Facilitated the introductionbetween ithe co-founders,who are now CEO and CTO
• Facilitate introduction toOCE’s VP of Marketingleading to a major customercontract
• Advisor for scaling andaccessing internationalmarkets through Haltech’sScaleup Espresso Haltechmentor Vince Mifsud
www.eventsdriven.ca
How Haltech has supported Events Driven
Randy Esguerra Kinh Duong
“It was great to meet [Rina Carlini] at the Peer2Peer meeting last week. I’m so glad you decided to bring it back! I’ve always
looked forward to the Peer2Peer sessions with Vince [Mifsud]. The amount of knowledge Vince has is priceless and we’re
lucky to have him as part of the Haltech group.”
– Randy Esguerra, CEO & Co-founder of Events Driven.
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Tech4Life Enterprises is a socially motivated, innovative medical technology company specializing in telemedicine and point-of-care diagnostic devices. Their goal is to improve the health of populations in low- and middle-income countries by empowering health providers and partnering with government and NGOs to implement health technologies.
Founder and CEO Dr. Shariq Khoja is an MD-PhD who started designing the technologies in 2011 and commercializing them in 2015. The team consists of over 20 employees located all around the world. Their flagship telemedicine product, MDConsults, has been implemented in 7 countries with distributors located in more than 20 countries including India, Afghanistan, Saudi Arabia, South Africa, and Canada.
Haltech has supported Tech4Life by providing a tradeshow booth at the Angel One First Look event, introducing them to investors, and were showcased at the Top4@4 during 2016 Halton FUTURES Innovation Summit.
Tech4LifeEnterprises
Saasli is an intelligence layer on top of Salesforce.com specifically for SaaS (“Software As A Service”) companies. Saasli, for a simple annual per user fee, eliminates the need for an expensive implementation and customization of Salesforce, as well as the need for many expensive third party applications. Saasli’s world class solution for Salesforce CRM integrates all critical business data applications into one core CRM to enable sales people to spend more time contributing to top line revenue.
Charlie Locke (CRO), Mansour Chatti (CTO), and Max Risen (CFO) founded Saasli in 2015. They currently have 9 high-growth North American SaaS customers. Haltech has helped Saasli with an application for the MaRS Embedded Executive funding program, p rov ided $23,387 in MaRS market intelligence reports, extensive investment pitch coaching with Haltech mentors, facilitated introductions to investor groups as a presenter at the Hi5 Startup Source event and made an introduction to secure an early client.
Bredet is a boutique business solution consulting firm, specializing and experienced in business-management software. They provide an integrated approach to consulting with services ranging from software selection consulting, implementations and training, to IT and website support, as well as project management and system integration. The firm has over 30 years in ERP solutions and consulting, benefiting from the experience of 100’s of implementations across multiple industries including manufacturing, distribution, warehousing, medical companies and trucking.
FastVenues is disrupting the food service industry by making it easier, faster and cheaper than ever to book interesting venues and meal packages in advance. They are helping people who are planning corporate events during the week, to social gatherings on the weekends, to birthday celebrations, meet ups, and more discover new and interesting venues at discounted prices, and helping venues fill there underutilized space during non-peak times.
FastVenues was founded by Anthony Panepinto (CEO) and Michael Diep (CFO). FastVenues.com connects busy people who are planning events with discounted venue/meal packages at popular and unique venues. Customers can filter through venues/meal packages by location, price per person, availability/date, number of attendees, capacity and more, and upon finding one that meets their criteria, can easily booking the venue they desire.
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Bridging the gap between the off-line and on-line world of analytics has been a dream for too long. With Hyllo, that dream has become a reality.
The company was founded by Anh Tuong,Business Director, and Ivan Horich, Technical Director with a goal of solving this bridge giving clarity to the long problem of where marketing dollars are the most effective – in real time and hyper-geolocation aware.
Blue Salt gives bars and restaurants, among others, a full advertising platform to utilize their existing televisions. Self-branded TV with engaging and dynamic content is the future of media in food establishments.
Founders Scott Robertson and Matthew Lister built their rugged and easy to install system to solve a need in the advertising space. Both founders have leveraged their marketing and business development backgrounds to secure major brand clients while installing their platform all across Southern Ontario.
Enable Education is an education technology company that provides complete online training solutions for a multitude of industries. They develop then deploy content via their Thinkscape online learning platform, and customize the training experience with their clients’ branding. Enable’s platform can also gather usage analytics that integrate with existing systems. Some of their major clients include Texas Instruments, LEGO, and SolidWorks.
Haltech has supported Enable Education with introductions to a major client, and one-on-one mentorship and business coaching.
Loneliness and chronic loneliness effect nearly half of all people aged 50 to 75. Chumbuggy has developed an extremely simple online social platform for seniors to connect via text or video.
Founded by Neel Desai in 2013 with a purpose of enriching connections, Chumbuggy is helping people learn something new, engaging conversations about favourite books and current events online. It is an incredibly easy and accessible way to connect with like-minded people over face-to-face video.
BeMo is an academic consulting company that is developing online test preparation tools to help students prepare for their admission into programs such as medical school and law school, and in the process of developing an online applicant screening tool to help universities and colleges select the appropriate candidates.
Acadiate is a career development platform for students, universities and employers. For students: It helps manage their resume, portfolio and career development goals. For Universities: The platform enables their students to manage their own job application process and provides a platform for alumni mentoring and analytics. For employers: It showcases more information than a general resume, painting a more thorough picture of the students they are looking to hire.
Bridging the gap between the off-line and on-line world of analytics has been a dream for too long. With Hyllo, that dream has become a reality.
The company was founded by Anh Tuong, Business Director, and Ivan Horich, Technical Director with a goal of solving this bridge giving clarity to the long problem of where marketing dollars are the most effective – in real time and hyper-geolocation aware.
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Events & Community Outreach2015-16
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Startup Source
Discovery is Canada's leading innovation-to-commercialization conference. Hosted by the Ontario Centres of Excellence (OCE), Discovery brings together key players from industry, academia, government, the investment community as well as entrepreneurs and students to pursue collaboration opportunities.
Garnering over 2,600 attendees and more than 420 exhibitors in 2014, Discovery is a showcase of leading-edge technologies, best practices and research from sectors such as health and life sciences, manufacturing, digital media, and clean-tech (including energy, environment and water).
Haltech continued our tradition of hosting a Halton pavilion, complete with many of our clients and partners. Joining us was Ambient Audio, the Burlington HIVE, Fly Technologies, Milton Education Village Education Centre (MEVIC), Rangoo, Roam Mobile, Shape + Store, Sheridan College, and Throwback Entertainment.
Haltech began the 2015-16 year with a successful event - Pythons’ Pit.
Pythons’ Pit provides an avenue for creative, entrepreneurial residents and students living in Halton region to pitch their business concepts and product ideas to a live audience and a panel
of community business moguls known as “The Pythons”. Led by Fareen Samji and the Rotary Club of Burlington, a $20,000 first place prize is up for grabs to the most compelling pitch and business opportunity.
Cory Hudson, youth CEO of Ambient Audio, and Haltech client, claimed first place in the 2015 competition. Ambient Audio produces high-quality, wireless and battery powered speakers with integrated and active lights. Users stream music from their smartphone or Bluetooth device while the smart light change from over 16 different static colors, or a variety of dynamic lighting effects. The unit reacts to your music creating a live and interactive light show. It is an immersive musical and lighting experience wherever your music takes you.
Congratulations Cory!
In April 2016, Haltech launched Hi5 Startup Source, an event to introduce five high-potential, revenue-generating startups to the investment community through a focused 5-minute pitch. This event was a great opportunity to source high-potential tech startups originating from the Halton/west-GTA region. The aim of Hi5 is to connect the investment community directly with founders at an early yet promising stage of their startup growth. Javelin Technologies graciously hosted this first event in their cool “garage” lounge area. Javelin and Microsoft Canada were both proud co-sponsors of the event, and of Halton’s startup community.
We were thrilled with the premier of Hi5. The presenting startups were Accellerant (now named Cellbie), Daniel Christian Tang, Saasli, and FastVenues who all gave great pitch presentations and made quality connections to investors, which included Angel ONE Network and the Golden Triangle Angel Network (GTAN).
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Halton's Startup Ecosystem Partners
Future Forward Priorities• Haltech programs will be more accessible with co-location in community hubs.• Support local economic development initiatives for Innovation and Entrepreneurship.• Grow Haltech's base of startup companies, particularly in Med-Tech and CleanTech• Launch programs to support the growth of SMEs• Enable access to Global Markets and Foreign Investment• Champion youth-led startup incubators and maker-spaces• Enabling more women-led tech companies• Assist recent immigrants to network and build their tech startups• Planning and hosting our signature annual conference event,
Halton FUTURES Innovation Summit & Awards• Help raise Halton's profile as a top-notch region for innovation and entrepreneurship.
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