Skip to Main Content
JOIN SKILLHOUSE: EXPERT-LED COURSES GIVING YOU A COMPETITIVE ADVANTAGE
>
CLICK HERE
The Review

Demystifying menopause: How Womaneze is helping women navigate menopause and regain control

Founders

Category Archives: Blog Categories

Demystifying menopause: How Womaneze is helping women navigate menopause and regain control

On Wednesdays, we startup.


To celebrate our women-identifying founders, we’ve put together ‘On Wednesdays, we startup’, a blog series dedicated to putting women founders center stage to acknowledge their work, complexities and wins! 

We hope to push women-founder stories forward and share lessons learned and insights for other aspiring women entrepreneurs. 

This week, we had the pleasure of chatting with Salma El-Yassir and Marijana Novakovic, the Co-Founders of Womaneze, to learn more about their startup, how they’re helping women navigate menopause, and their hopes for the future of the femtech industry. 

Can you tell us a little bit about yourselves, and how you founded Womaneze?

We are two women who have crossed the threshold of 60! We both went through menopause and had difficulties with it, but at the time, there was very little information and support available for women. 

As a result of hormonal changes, we had both been battling the extra pounds that come with menopause. We met for the first time through an online forum for managing weight. Eventually, we became good friends, travelling to visit each other with our families in our respective home countries!

We had hundreds of conversations about our experiences battling the physical, psychological and social onslaught of menopause without any tangible support – all while holding down jobs and raising our families. 

Despite being well-informed on health matters, we both felt blind-sided by menopause – the topic of menopause isn’t openly spoken about, making it a taboo topic in women’s health. It is only referred to with a witty smirk or an embarrassing silence, even though it affects every single woman alive.

That’s when we decided to team up and found Womaneze, a platform that we would have only dreamed of when going through menopause. 

Marijana is a lawyer and an ex-banker, and Salma worked in both healthcare and development. We decided to leave our respective jobs to work for ourselves and create a company that reflected what we stood for.

Supporting women through menopause was something that we both cared deeply about, and we knew it was time to take the leap and make a positive change. 

As our next step, we both pursued postgraduate education. Salma has a Master of Public Health and a Master’s of Public Administration, the latter from Harvard, and Marijana has a Master of Laws specializing in EU Law, and HR. We each held senior management positions in our respective fields, and are trained and certified coaches, which is very helpful in creating safe spaces for women to interact and share their own experiences of menopause. Our skills are complementary, which allows us to focus on our strengths and be supportive of one another. 

What exactly is the Womaneze platform, and what is it trying to accomplish?

Womaneze helps women navigate menopause and regain control naturally. It’s a platform that aims to normalize the experience of menopause by bringing the subject out into the open, so women do not have to suffer in silence and feel alone. 

We’re proud to say our community has over 44,000 women who engage with us and with each other on a daily basis. 

Womaneze takes a scientific, but non-medical approach, to menopause. We focus on how a woman can help herself, and others around her, to better understand menopause by using holistic strategies that have been proven by science. 

Of course, there are women who require medical assistance during menopause, but for the majority, it is a natural (yet challenging) transition. We help women understand what is going on in their bodies, what to expect, and how to reduce the negative effects of hormonal changes.

We are creating a space where women can speak openly about their own experiences, and find information and support. We support women through normalization, information and communication. We do this by: 

  • Shedding light on the 47+ symptoms of menopause. Most women are surprised to learn that their symptoms are menopause-related, or that perimenopause can begin in your early 40’s.
  • Allowing them to express their doubts, fears, and worries. Often overlooked compared to the physical effects, there are psychological effects caused by changing hormones. When women are surrounded by others in the same boat, they feel empowered to share stories and strategies that help them cope. 
  • Making research accessible. We highlight natural ways for women to help themselves by curating research.  
  • Helping with hot flashes through tech. We have developed an app that focuses on helping women find natural ways of dealing with hot flashes. 70-80% of women going through menopause will experience hot flashes and in some cases, they can be debilitating.

We help women understand what is going on in their bodies, what to expect, and how to reduce the negative effects of hormonal changes.

What have been your top lessons learned since starting Womaneze? 

  1. The importance of clear communication between founders. A good working relationship among founders is the basic building block of a successful startup. Learning to manage differences of opinion (often strong ones) in a productive manner is very important.
  2. Finding a co-founder with complementary skills. No one can be the best at everything. Understanding your own strengths and weaknesses is key, as is leveraging the strengths of others. Knowing when it’s best to get out of the way and letting others do what they do best is essential.  
  3. Don’t be wedded to a single idea. Continuously collect data and adjust as you go along. Data and metrics help illuminate the way and avoid costly mistakes.
  4. Don’t be afraid to make mistakes. Being an entrepreneur is about taking risks and learning from them!
  5. Being an entrepreneur can be very tough. There is so much to learn and juggle. Make sure to manage your own doubts and fears and keep your head above water!

The femtech space has certainly been growing, as there has been a boom of new products and services developed to support women’s health. However, only 5% of femtech startups address menopause. Why do you think this is the case?

One of the main reasons is the lack of funding and investment, as women-founded startups receive far less funding than male-founded ones. In 2020, women-founded startups received 2.3% of all VC funding.

The ecosystem has an age bias that tends to favour younger founders, who are often less likely to be interested in menopause. People often have an image of what a founder looks like — a 20-something male and who only survives on ramen and works 24/7. 

Women entrepreneurs who are more likely to be interested in the menopause space are less likely to fit the false pretences of what founders ‘should’ look like. 

The consumer technology revolution has only really taken off in the past couple of decades, with the use of smartphones becoming almost ubiquitous. The generation of women used to managing their health and tracking their data is only now beginning to enter perimenopause and explore solutions to help manage their health. 

Today, there are a plethora of period and fertility tracking apps in comparison to menopause apps. This trend is beginning to shift as more tech-savvy women begin to enter the menopause transition. 

There is also the undeniable — the taboo nature of the subject. Like fertility issues (another taboo subject until recently), menopause is an aspect of being a woman. Historically, society has placed a large emphasis on the fertility of women. Menopause announces the end of fertility and this can be difficult, leaving many women feeling invisible.

For all the progress that society has made in the gender equality arena, this remains an issue that needs to be addressed, and many startups are beginning to do so. Menopause is not sexy; men often cringe when it comes up, and younger women often feel that it is irrelevant to them, as it is a ways away.

People often have an image of what a founder looks like — a 20-something male and who only survives on ramen and works 24/7.  Women entrepreneurs who are more likely to be interested in the menopause space are less likely to fit the false pretences of what founders ‘should’ look like.

Menopause support has been identified as the next game-changer in the global femtech industry. As new startups look to enter the space, what do you hope for the industry to achieve at large?

We hope that the voices of the 1 billion women in menopause are heard. 

We hope new startups in the space call out the organizations and industries that need to step up and pay more attention to older women. 

The needs of women in menopause change — their skin changes, their hair changes, even the way perfume smells on their skin changes. The beauty and clothing industries need to pay more attention to this demographic, and cater their services and products to better suit their needs. 

More importantly, the workplace needs to accommodate women who are in the different stages of menopause. Women often have to leave their jobs because of the overwhelming nature of certain symptoms. There is a huge opportunity for HR policies to adapt and support their women staff, similarly to providing maternity and paternity leave. 

A supported employee is a happier and more productive one.

We’d like to see more women in menopausal transition come out from the shadows and demand better products and services that cater to their particular needs. The way menopause is discussed and managed needs to change completely. 

Femtech founders have faced challenges in fundraising, as a majority of VC investors are men. Apart from market opportunity, why should more investors look into supporting femtech, and products and solutions that support women going through menopause?

Market opportunity and return on investment (ROI) are the primary reasons that investors decide to invest. However, there are more and more investors who are beginning to define ROI by more than just profit, but social good.

Every investor, regardless of gender, has a vested interest in bettering the lives and health of women. They have daughters, sisters, friends and mothers. Women account for half of the population, and addressing women’s health improves the diversification of investor portfolios.  

What advice would you give to founders looking to break into the femtech space?

We think it is very important for founders to really understand the niche that they are addressing. Listening to what women want and are really looking for is essential. 

Younger women have a different attitude towards their health and what they expect. They are more vocal about what they need and are beginning to reject societal norms that have been created by advertisers and society. 

They are demanding a different approach, which incorporates a less prescriptive attitude, and validates their unedited experiences with their own bodies.  

Femtech should be less about the tech and more about the needs of women. Although tech is ‘sexy’ we must remember that it’s an enabler to solve an issue, not the solution itself. It’s important for people on the tech side to be fully immersed in understanding the problem. We found that having a female CTO was crucial, as the work was also relevant to her and she genuinely cared about it.

Founders looking to break into femtech should make sure their team is reflective of the women they are looking to support. At the very least, the startup should have women as close advisors. Experiencing the issue firsthand leads to a deeper understanding and, therefore, a better product.

Femtech should be less about the tech and more about the needs of women. Although tech is ‘sexy’ we must remember that it’s an enabler to solve an issue, not the solution itself.

Are there any women founders that you both look up to for inspiration? 

We admire courageous and forward-thinking entrepreneurs such as:

  • Sarah Blakely, the Founder and CEO of Spanx, for her tenacity and unwillingness to listen to the nay-sayers, and for making Spanx a huge success.
  • Nadia Boujarwah, the Co-Founder and CEO of Dia&Co, for her tenacity and belief in her vision that led her to create a successful company with over 145 employees. She saw a need for fashionable and fun oversized clothing, and she went out and created it. She had to speak to around 100 investors before she could get investors to see her vision. 
  • Rochelle Weitzner, the CEO of Pause, a well-aging company creating skincare products for women in menopause. We love her concept of well-aging rather than anti-aging. 
  • Sonsoles Gonzalez, the CEO and Founder of Better Not Younger, a company creating hair care products for menopausal women.

What’s in store for Womeneze? 

Womaneze is in the process of launching its first premium features for the Hot Flash Help app as well as launching a space for women to find products that help with menopause.We have a list of premium features that we will be introducing in the next few months. Women will be able to specify what issues they want to track, and export data in a format that helps them address their hot flashes with their health provider. 

We will also be including a feature where women are matched with other women to create support groups based on issues they are experiencing in menopause, interests, or geographical location.

Womaneze will be offering a 60% discount for premium features until mid-September 2021. Head over to their website to learn more. 


Make sure to follow the DMZ on Twitter, Linkedin and Instagram to follow our ‘On Wednesdays we startup’ women founder series. 


To learn more about the Women Founders Programs, visit dmz.to/womenfounders.

Women founders empowering women founders: How Nouhaila Chelkhaoui is uplifting women-led startups

On Wednesdays, we startup.


Women tech founders drive innovation and the tech ecosystem – when women-led businesses are thriving, the economy at large thrives.

It’s no ecosystem secret that women founders face disproportionate barriers when starting and growing a business in comparison to their male counterparts. Women are often denied business loans because of gender and cultural biases, and women of colour, in particular, face even greater barriers when it comes to accessing startup capital. 

Add in a global pandemic, and women entrepreneurs had one more ball to juggle. On average, women faced greater economic stress, and an increased burden for caregiving and housework. 

We have marvelled at the resilience demonstrated by women founders, and are truly honoured to support them along their entrepreneurial journeys.

To celebrate our women-identifying founders, we’ve put together ‘On Wednesdays we startup’, a blog series dedicated to putting women founders center stage to acknowledge their work, complexities and wins!

We hope to push women-founder stories forward, and share lessons learned and insights for other aspiring women entrepreneurs. 

To kick off the series, we sat down with Nouhaila Chelkhaoui, Manager of the Women Founders Programs at the DMZ to learn about what inspired her to pursue a career in the innovation sector, and her vision for the ‘On Wednesdays, we startup’ series.

Can you tell us a little bit about yourself?

I came to Canada at the age of 17 from Morocco – all by myself. I went to the University of Toronto where I studied political science. After graduating, I wasn’t sure what I wanted to pursue. So, I decided to leave Canada temporarily, travelled back to Morocco, and spent almost one year in Turkey where I taught English.

This was the most formative year I’ve had to date. It was the year I realized what I wanted to do – and I decided to come back to Canada to work in the startup ecosystem.

I landed a job at a tech startup helping newcomers access Canadian healthcare. A couple of years later, I started attending the DMZ’s women in tech events. After connecting with the DMZ community, I ended up working with the DMZ and today I manage the Women Founders Programs. 

A few years into my time here, I realized I also had a dream of being an entrepreneur myself, so I decided to found Scale Without Borders.

When I’m not working at the DMZ, I spend my time working on the Scale Without Borders platform that helps Canadian newcomers navigate the tech ecosystem. As a newcomer myself who didn’t have access to the necessary support systems and networks, I wanted to give back to those who faced similar challenges.

What motivated you to pursue a role that supports startup founders?


With a background in political science, I used to think that the only way to solve complex global challenges was at the political level. I then discovered that innovation and entrepreneurship was an alternative way to solving some of our world’s biggest challenges – perhaps a much more effective way!

 

Who are you inspired by? What strong or successful women leaders do you look up to, whether that’s professionally or personally?

At the risk of sounding unoriginal, I always look up to women like Michelle Obama, Amal Clooney, and Emma Watson. But, I also remind myself that they too are imperfect and that’s been very helpful for me.

I wish more women owned up to their struggles so we could all know we’re not alone. I also look up to my older sister and my mother, who are both mentors of mine. My sister, Sara, left Morocco to study in France at around 16 on her own, which really paved the way for me. She pursued a field in STEM and went on to lead a career in an industry that is largely male-dominated. My mother raised and supported the two of us, which played an immense role in my career trajectory.

What’s the greatest piece of advice you’ve ever received?

There isn’t anything you need that you can’t find within yourself. It’s often easier said than done, but it is doable – and it’s worth it when it’s done!

“There isn’t anything you need that you can’t find within yourself. It’s often easier said than done, but it is doable – and it’s worth it when it’s done!” –Nouhaila Chelkhaoui, Manager, DMZ Women Founders Programs

Who are up and coming women founders that we should keep an eye out for?

Wow, way too many to list. But let me give it a shot.

And so many more. I could really go on here, but there isn’t enough blog space in the world to capture all the outstanding women founders out there.

What is your vision behind starting ‘On Wednesdays, we startup’, and what do you hope to achieve with the series? 

I look at the series as a communal platform for women to share the incredible tech businesses they are working on. To me, it’s an opportunity to build authentic relationships in the tech ecosystem with fellow women founders. Plus, it’s a bonus if a business deal comes out of it. All in all, I feel privileged to be part of this group. 

The series will provide women founders a platform to be seen, heard, understood, and promoted. Through this series, women founders will discuss the problems their startups are addressing, their successes, and struggles. I also hope that aspiring founders take inspiration from these stories and find opportunities to connect and learn from some of the trailblazing women we cover in the series.

What are some crucial changes you want to see in the startup ecosystem for future and current women founders?

I’d like to see more resources dedicated to women founders, especially BIPOC, LGTBQ+, and newcomer women founders. 

What do I mean by resources? I mean funding, sponsorship, impactful mentorship, visibility and exposure. I’d also like to see less lip service and performative activities which are primarily motivated by PR benefits.

Another crucial change I think we need to make is to move away from the self-defeating narrative. We must acknowledge the barriers women founders face, and hold those accountable who are benefiting from the uneven distribution of resources. However, we must also do so in a way that is productive and paves the way forward for women founders.

“Another crucial change I think we need to make is to move away from the self-defeating narrative. We must acknowledge the barriers women founders face, and hold those accountable who are benefiting from the uneven distribution of resources. However, we must also do so in a way that is productive and paves the way forward for women founders.” –Nouhaila Chelkhaoui, Manager, DMZ Women Founders Programs

What is currently the most challenging part of being a woman founder in the tech space?

Traditionally, women founders are underrepresented and have been excluded from the inner circles that contain key resources and connections. 

This breeds an incessant cycle where women-led startups are at a disadvantage and conversely, other founders benefit from the unfair advantage of being in the circle, creating a vicious cycle. And so, breaking into that circle becomes extremely important. It is a challenge, but one that we can and will overcome. 

Do you think it’s important for investors to seek out women-led startups? What do they bring to the table that’s unique? 

There’s a ton of data out there that demonstrates how diverse teams do better than their homogeneous counterparts.

When I say diverse I am referring to gender and beyond. An intersectional approach is very important, and this is a data-backed perspective.

Additionally, more than a return on investment, seeking out women-led startups also means involving the half of the population that is underrepresented and supporting challenges that are meaningful to them. 

“More than a return on investment, seeking out women-led startups also means involving the half of the population that is underrepresented and supporting challenges that are meaningful to them.” –Nouhaila Chelkhaoui, Manager, DMZ Women Founders Programs

What three tips would you give women founders looking to grow and create connections within the startup ecosystem?

There are three foundational values I try sticking to as a woman founder. First, especially when starting out, always ask yourself ‘what is your why’? Would you enjoy doing this work year after year after year? Next, it’s so important to find a balance between healthy urgency and patience. Finding the balance is a process that takes practice.

My third tip for women founders? At the end of the day, put yourself first – before everything, including your business. 


Learn more about and connect with Nouhaila here.

 

Make sure to follow the DMZ on Twitter, Linkedin and Instagram to follow our ‘On Wednesdays, we startup’ women founder series.  To learn more about the Women Founders Programs, visit dmz.to/womenfounders

Meet 25 up-and-coming tech startups in DMZ’s Pre-Incubator

Introducing a new cohort of Pre-Incubator companies who are making waves across diverse industries 

Our newest Pre-Incubator cohort is in full swing, and we are ecstatic to present the 25 tech companies that we have hand-selected to help grow. For the next 6 weeks, the DMZ will help these founders validate their business idea, establish a minimum viable product and build a roadmap for implementation to launch their startup.

Our Pre-Incubator founders get the chance to participate in peer-to-peer sessions, founder roundtables and expert-led workshops, receive 80+ membership benefits valued at $470,000+, have one-on-one support from our Program Leads, and much more. Post-graduation, they will be on track to launch their startup within 3 months and generate revenue within 6, allowing them to kick-start their entrepreneurial journey!

We are thrilled to share that our new cohort has a global reach, with startups based across 8 different countries: Canada, Italy, Nigeria, U.S., Iran, Pakistan, Korea, and England. 

What are we waiting for? Meet the 25 startups in our summer Pre-Incubator cohort:


afrilearn image
Afrilearn is an education technology corporation leveraging seasoned teachers, animators and developers to deliver affordable, world-class education for Africans anywhere.
Glo3DInc

Glo3D offers a simplified mobile and web app for any eCommerce platforms to create, share and embed interactive, multimedia 2D and 3D product photos to their online stores.

 

PaydApp is Canada’s first financial app dedicated to post-secondary education. Payd leverages natural spending habits of current, former, and future students to help them pay off their student debt with ease, limiting financial stress and hardship. 


Websona connects students with campus involvement opportunities and fellow students. It allows users to connect with each other instantly by scanning their digital profile QR Code and filters extra-curricular events for users through tags.

 

Diatron Health is a health tech startup that is revolutionizing how chronic conditions can be prevented, managed and diagnosed by leveraging on the power of behavioural science, mobile computing, artificial intelligence and data science.


Stabl is the first digital health platform with integration capabilities that enables physiotherapists providing virtual care to track and quantify a patient’s biomechanics using laptop cameras. Physios can diagnose a patient, create treatment plans, and monitor their improvements through reassessments, providing a more effective and transparent approach to virtual physiotherapy.

 

Ationlab is a lifestyle-design company that pursues social missions supporting sustainable, independent life in contemporary society. Their recently launched self-care app, Prickly, provides support to single-person households. They are also working on a portable UVC sterilizer and a mobile dumbbell using EMS technology.


TimeoutIQ Tech is an AI-powered solution that helps parents manage their kids’ recreational screen time and keeps their minds sharp with a personalized interactive K-8 education curriculum focused on Science, Math, Geography, Computer Science and English.

 


Visto is automating the immigration process to help people navigate the immigration journey at a fraction of the price. The immigration process can be extremely expensive, confusing and stressful, and Visto’s software solution was designed to empower  immigrants to go through the process on their own.

 

SCYiBL is a 6 step neuro-scientific process that helps individuals work through trauma. The app guides users to rewire their own brain using an innovative, scientifically-proven process that harnesses brain plasticity to help individuals overcome negative life events and thrive.

 


Lobbea is a private social network for apartment buildings that helps its residents communicate through a shared feed wall, as well as buy, sell, lend, and borrow items, create events, and send messages to their neighbours.

 


Djamgatech Corp builds multilingual and platform independent high tech education and certification mobile applications. Their objective is to have a global reach and help professionals and students prepare for their technical certification directly from their mobile phone.

 

iReal is the first Real-Estate-Data-Platform-as-a-Service with made-to-measure AI and NLP, capturing each organization’s ‘secret sauce’ to help them become the real estate company their clients expect.

Podium Team is a vertically integrated social media platform that connects, engages, and supports the athlete-fan community by empowering users to own and control their content and monetization.

 

PHYSICo is an application for companies to proactively identify and reduce burnout in their employees. Users send physical and custom challenges to each other and earn points for completing challenges. 

IMC Business Architecture has developed a mobile app-based banking solution that helps users build a budget using behavioural economic tools, as well as receive access to small credit for credit repair and savings tools for planning.

 

Curismart is a marketplace platform that allows healthcare professionals to only shop from verified sellers globally. This marketplace offers everything used in a healthcare facility from bin liners, materials, supplies, devices or capital equipment.

 

Pandos is an online platform that enables remote collaboration and teamwork in post-secondary programs. Students can use the platform to form and manage teams, while instructors can create teams based on criteria and assign tasks.

 

Voiceform is an online tool that gives you the ability to create surveys that can be answered with voice. It provides a convenient way to scale your research without losing the important contextual insights you would get from interviews.

 

Hutsy Financial is a Canadian digital bank committed to offering a fee-free prepaid VISA debit card with up to 30% cash back at select retailers, accompanied by an application that enables clients to track their spending and have access to early payroll.

 

Revitalizing Fitness is developing Toronto’s preeminent network of fitness and health spaces, both virtual and brick and mortar, by partnering with community gyms to develop and elevate the customer and trainer experience.

 

Bloc of Estate uses an intuitive gesture-based interface where users can share their home preferences. With that data, machine learning will automatically rank listings inferred from inputs so users waste less time going through listings.

 

Adam Wa Mishmish  is an educational cartoon created for children to learn and love the Arabic language. Catered to children aged 0 to 5, all episodes are music based for Arabic learning. Each episode focuses on a different subject, ranging from alphabets, numbers, musical instruments, animals, and more.

Blox is focused on developing supply chain technology to help clients save costs and increase visibility to their supply chain.

 


Tilaus helps small Canadian accounting firms to confidently implement changing professional requirements in a cost-effective, efficient and secure manner.  The cloud-based platform allows partners and sole practitioners in accounting firms to access and store client information in real-time, reducing the need for servers and outdated information.

 

If you are an early-stage tech founder and are interested in joining the DMZ Pre-Incubator, then check out more about the program details and selection criteria here. 

Applications are now being accepted for the October 2021 cohort. Apply here today!

From a family roofing business to $10M CAD in seed funding

How a 3rd generation roofer is disrupting the roofing market

For years, roofing has been seen as a traditional industry, relying on skills passed on from one generation to another. After working in the space for nearly 12 years, Richard Nelson, Founder and CEO of RoofR, saw an opportunity to introduce an innovative solution to modernize and digitize the field.

RoofR’s software allows roofers to measure any roof from anywhere with near pinpoint accuracy through aerial imagery and creates polished proposals that help seal the deal. Their tools help roofers streamline their workflow, helping both homeowners and contractors.

We caught up with Richard to learn more about how their company has evolved over the years, their recent raise, and what they have in store for the future.  

For years, roofing has been seen as a great trade in the construction industry, but not necessarily an industry that adopts new tech solutions. As a third-generation roofer by trade, could you tell us a bit about what led you to found RoofR?

Richard Nelson working as a roofer at the beginning of his career.

“The first time I was on a roof, I was 12 years old. Roofing was our family business: my grandfather was a roofer, my uncle was a roofer, and my dad was a roofer. I was a part of the family business for nearly 12 years and then took a job with one of the largest roofing contractors in Toronto. I soon realized how broken and archaic the roofing industry was, and knew I needed to do something to fix it. 

So I decided to quit my job, sell my house, and put everything I had into RoofR. Together, with my partner and CTO Kevin Redman, we decided it was time to disrupt the industry. 

What I realized as a roofing contractor and salesman was just how many inefficiencies existed. Consumers did not have a way to find good roofers, and there was a lack of tools available for roofers to streamline their workflow digitally.

This sparked the vision of creating an end to end roofing platform that helps both homeowners and roofing contractors — a software as a service (SaaS) for roofers.”


“This sparked the vision of creating an end to end roofing platform that helps both homeowners and roofing contractors — a software as a service (SaaS) for roofers.”

How would you describe the experience of introducing a new tech platform to a market that may be hesitant to change? How did you break into the industry?

“I come from a family of roofers, and even some of my family members were a bit skeptical of the idea. Traditionally, the construction industry was not tech-enabled, but ultimately I understood the pain points that these roofers were going through, living it myself.”

Richard knew that if he could build a really powerful, but simple software for roofers to utilize, he could make a big difference in the industry. 

“As we began to roll out SaaS features, specifically the measurement tool that allows roofers to measure through satellite, there was certainly some push back from roofers who typically use a tape measure.”

Rather than driving to a client’s house to take measurements, go back to the office, and then return with a final quote, roofers can enter an address in their system and have a complete roof measurement within minutes that auto-calculates material quantities and creates a professional proposal a customer can e-sign. 

“Once we explained to roofers the benefits and the value that we add, that skepticism was pushed aside and they were willing to adopt.”

When the pandemic hit, going digital was inevitable for roofers. This presented an opportunity for RoofR to really solidify its position in the space. Roofers needed to be able to provide quotes and proposals to homeowners digitally, so they had no other choice than to look for reliable solutions they could trust in order to keep their clients safe. Roofr was the solution.

Could you explain to us exactly how the RoofR platform works?

“We enable roofers to measure any roof, from their desk, or in the field, in under two minutes with near pinpoint accuracy through our aerial imagery software. Roofers can then take those measurements and auto populate proposals that can be sent to their customers for e-signature.”

From measurement, to proposal, to a signed contract, RoofR has created a sales toolbox for roofers — automating the entire process under one platform. 

It was recently announced that RoofR secured $4.25 million USD in funding, bringing your new total amount raised to $8.25 million. What does this new round of funding mean for the company, and do you have any specific plans?

Kevin Redman CTO, and Richard Nelson CEO of RoofR.

“We are obsessed with providing a world class customer experience. We go above and beyond with every single customer, even if it doesn’t necessarily scale. With this investment, we plan to build out our sales, customer success, support, and engineering teams to help drive this world-class experience.

What impact did the DMZ have on RoofR’s trajectory?

“I was not able to get a meeting with a venture capitalist (VC) before my time at the DMZ. Within two weeks of being part of the program, I had a handful of meetings with VCs that were able to help me refine my pitch. 

Our time at the DMZ helped set us up for our Y Combinator interview. I was able to connect to other founders that had also gone through the YC interview process, and had mock interviews to get hands-on investor practice. I credit a lot of us getting into Y Combinator to the DMZ.”

Moreover, the DMZ was able to help RoofR expand its network and gave the startup a sense of community. “Whenever I needed help, I could walk into the DMZ’s common space and find someone knowledgeable to ask questions, or reach out via email. It was a sense of community that I really loved. And I needed it at that time, because being a solo entrepreneur can be wildly lonely.”


“Whenever I needed help, I could walk into the DMZ’s common space and find someone knowledgeable to ask questions, or reach out via email. It was a sense of community that I really loved. And I needed it at that time, because being a solo entrepreneur can be wildly lonely.”

As an Alumni-in-Residence at the DMZ, what has been your favourite part about mentoring other startups?

“I get a lot of joy out of being an Alumni-in-Residence. I love giving back and helping founders with advice and insights to help them avoid the same mistakes that I’ve made. Being exposed to all the other innovative startups and business models that are being leveraged is also very captivating.”

Richard played a part in helping DMZ alumni company Turing Labs get into the Y-Combinator as well, which he described as “an incredible moment that allowed him to give back to the community.” 

What advice would you give to a fellow founder who is looking to raise funds for their startup?

“When you do get a chance to meet with an investor, make sure you know your numbers. This is a mistake that will affect your credibility. Investors will likely ask you about your growth rates, unit economics and number of active users…etc, so make sure you are prepared.

Focus on telling a story. Rather than just reading off of slides, paint the bigger picture. Remember that as a seed stage company they are often investing in you rather than the company. Sell yourself – why are you the best person to build this multibillion dollar company? Can you pivot if need be? Make sure to really craft the narrative around the size of the opportunity, why now is the time, and why you’re the best person to do this.”

“Remember that as a seed stage company they are often investing in you rather than the company. Sell yourself – why are you the best person to build this multibillion dollar company? Can you pivot if need be? Make sure to really craft the narrative around the size of the opportunity, why now is the time, and why you’re the best person to do this.”

Are you also obsessed with providing world-class customer experiences? RoofR is growing rapidly and has a wide-range of positions available including, sales, product, engineering, finance, and customer success. Head over to jobs.lever.co/Roof to learn more! 

The DMZ has transformed to offer a brand new startup experience

We’re taking a personalized approach to startup support and delivering a more hands-on, tailored experience for startups  

Many startup incubators that exist today still take a ‘one-size-fits-all’ approach when providing support to startups, meaning founders receive the same programming and services across the board.

At the DMZ, we know how important specialized support is when creating a business; strong foundations are key to building pathways to success. Each startup has a unique set of challenges, and our new model takes a personal approach to support, focusing on one-on-one mentorship to help overcome them. 

With a rising demand for early-stage startup support at the onset of the pandemic and a lack of resources and programming available, the DMZ knew it was time to refocus efforts and fill a pivotal gap for founders in the ecosystem.

The DMZ’s new Incubator model has evolved to take a more customized, hands-on approach in an 18-month program to help founders obtain market validation and gain traction.

So what exactly is different about the DMZ’s new Incubator model? Let’s dive into it, shall we?

The DMZ’s Incubator now offers startups:

  • Smaller and more intimate cohorts of no more than 15 startups
  • 18 months of hands-on support, segmented into three, six-month phases to help founders achieve product-market fit, maximize early sales, and attract investment opportunities
  • A customized approach to addressing a founder’s startup challenges: executing a go-to market strategy, acquiring lighthouse customers, gaining media exposure, exploring global expansion, preparing for the next round of funding, and more
  • 60+ hours of one-on-one time with Entrepreneurs-in-Residence, in-house subject matter experts and additional time with DMZ staff
  • Exclusive perks and discounts from 100+ partners including AWS, Google, Hubspot, and more worth over $600K in business savings
  • More curated workshops and peer-to-peer sessions to share insights, lessons learned, and best practices on a wide range of topics
  • More support with fundraising strategies, pitch coaching, and getting introductions to investors in the DMZ’s VC and angel investor networks within Canada and beyond

Beyond the Incubator program revamp, the DMZ has also launched other programs over the last year, including its Pre-Incubator, to support founders who aren’t eligible for the Incubator yet.

The DMZ’s vision is to support the full entrepreneurial journey of an early-stage founder: from personal founder development, to business ideation, product development, sales growth, and scaling.

Giving a hand to those who need it most.

The DMZ recognizes that underrepresented founders face various barriers when it comes to starting and growing a business, including being subject to systemic racism and inequities that have only been heightened by the pandemic. 

To help create a more equitable and inclusive startup ecosystem, the DMZ has also expanded its programming for Black and women founders, equipping them with an additional stream of tailored resources they can tap into.

Startups with at least one founder who self-identifies as either Black or a woman will have additional peer-to-peer support, intros to funders dedicated to Black and women-led ventures, partnership and pilot opportunities, marketing and PR opportunities, special resources, events and more.

Don’t just take it from us – check out what founders from our inaugural cohort had to say about our revamped model.


“We have seen tremendous growth in our company and in our ability as a team to execute and strategize — the support has been fantastic. The Entrepreneurs in Residence (EIRs) that we have worked with are literally extensions to our team. The other companies in the cohort have been supportive and transparent in sharing their experiences with us, sharing great resources that can benefit everyone.” – Ayodele Pompey, CTO and Co-Founder of SmartTerm 

“Many of the same problems exist for all startups, and by working alongside experienced mentors who have walked the same path, you can accelerate and understand the challenges at hand with greater clarity. The DMZ is truly a fast track to growing your startup.” – Sarah Rennick, Founder of Alli

 

“The DMZ is truly a fast track to growing your startup.” – Sarah Rennick, Founder of Alli 

“Being in DMZ’s Incubator program is like having a GPS for your startup journey, and the Black Innovation Program is the ‘Iron Man’ to DMZ’s ‘Avengers.

By itself, the BIP program is a fantastic offering. When you combine it with DMZ’s Incubator program, it extends the level of support available to someone like myself as a founder of colour. The last 12 months have brought renewed acknowledgement of social issues facing the Black community, which the tech industry is guilty of as well. But rather than looking back, the DMZ is building a tech ecosystem where Black founders are well represented and can access the resources they need to build great products and companies.” – Baba Ajayi, Founder of Andie

“Being in DMZ’s Incubator program is like having a GPS for your startup journey.” – Baba Ajayi, Founder of Andie

“As a part of the Incubator, we have a customized plan that was created for us to grow and dedicated mentors to work with. DMZ’s focus since day one has been on practicality, providing us with real tangible support to grow and succeed.” – Zach Sheng, Co-Founder of Charmy Pet

 

 

 

While our model has evolved significantly, all DMZ programming remains to be driven by the same four founding pillars:

Community: The DMZ allows founders to tap into an unmatched local and global community.  Founders will build relationships, grow their professional network and connect with like-minded peers. 

Coaching: Startups have access to years of experience in the industry with more than 20 of the DMZ’s Entrepreneurs-in-Residence, specializing in sales, marketing, product, leadership, technology, operations and more.

Customers: The DMZ helps founders power their sales engine, connect with the right customers and fast-track growth. Startups will learn how to drive customer acquisitions.

Capital: Founders will learn how to create fundraising strategies, develop data rooms, get pitching practice and receive valuable introductions to investors.

Think you have what it takes to scale your business?

The DMZ is looking for promising and high-impact tech entrepreneurs who are ready to take their startups to new heights. 

Do you have:

  • A business dedicated to solving a compelling problem using innovative technology
  • At least one full-time founder dedicated to the program
  • A driven, coachable, and collaborative leadership team
  • An in-house technical lead
  • A functional MVP
  • The ability to become a venture backable business in a growing market

Head over to dmz.to/incubatornews to apply for our next Incubator cohort, kicking off this September. Applications are open until July 31, 2021. 

Not quite ready for our Incubator yet? Check out our pre-Incubator program, Pre-Incubator.

Make sure to follow us on Instagram @RyersonDMZ to catch our alumni success stories all summer long.  

More than just a buzzword: Taking a “people-centred” approach to business has huge benefits

Having a values-driven mission and people-centred business design can make all the difference for your bottom line – it’s how successful organizations attract great talent and develop iconic products and services.


Just a few short years ago, Sampler’s Founder and CEO, Marie Chevrier Schwartz, was a part of the DMZ where she received mentorship, business support and the connections her sprouting startup needed through what was formerly Ryerson Futures Inc. (now DMZ Ventures). Building on this foundation, Sampler went on to disrupt the traditional product sampling industry and is now recognized as the leading direct-to-consumer sampling platform.

Charlotte Crawford, a former DMZ team member who now works for Sampler, explains what both organizations share in common that make them exceptional places to develop and grow professionally. We sat down with Charlotte, Content Marketing Specialist at Sampler, and Kelly Stewart, VP of Marketing at Sampler, to learn more about Charlotte’s journey at the DMZ, how she launched her career at Sampler and how Sampler prioritizes a values-driven approach to tech and its team.

Could you tell us a little more about your journey to the DMZ?

Charlotte: “I completed my 4-month internship for my Masters in Professional Communication at Toronto Metropolitan University at the DMZ. 

When I started my Masters, I knew very little about the tech and startup space, but had a growing interest in the field. What really solidified my interest in tech was my media relations professor, Dr. Gregory Levey, who is a DMZ alum, previous CEO of Figure 1 and current CEO of Robinson Huntly, Ltd. It was through his class I was able to conceptualize the pivotal role communications professionals play in the technology and startup space. Once I expressed to him that I was interested in tech, he let me know the DMZ was the place to be.

I remember some of my peers asking me why I was putting in so much effort for an internship during the peak of our school work. I knew the right internship could really go a long way for my future – and I was absolutely correct. My time at the DMZ was not only the highlight of my Masters but also the reason I’m now working for one of Canada’s top growing startups (Canadian Business and Globe and Mail).” 

“I’ll never forget walking into the DMZ and seeing ‘equity over everything’ in neon lights above the door. The culture at the DMZ really made me feel valued, supported and challenged.” 

How was your time working at the DMZ?


Charlotte: “Above all else, the DMZ showed me what I deserve from a workplace. I’ll never forget walking into the DMZ and seeing ‘equity over everything’ in neon lights above the door. The culture at the DMZ really made me feel valued, supported and challenged. 

Throughout my time at the DMZ, I got to sit down with and interview founders and members of the DMZ community. It made me see, firsthand, that it was the people behind the tech that made places like the DMZ and Sampler special. 

I learned that stories of innovation are made relatable and exciting not just through a tech product, but rather the vision, missteps and story behind it. This realization gave me a heightened awareness of the importance in taking a people-centred approach to marketing, content and communications. 

I succinctly describe this approach now as, ‘don’t just tell users how great your product is – show them what it’s like to be on your team.’ This has become my north star for my career.”

How did your time at the DMZ launch you into working full time at Sampler? What attracted you to joining the Sampler team?  

Charlotte: “Before my first meeting with Abdullah Snobar, DMZ’s Executive Director, I was reading up on different DMZ startups. In my research, I found a DMZ podcast episode that featured Sampler’s CEO, Marie Chevrier Schwartz. It was apparent to me how strong Sampler’s value proposition was, but what really got me excited was what Marie had to say about her values in leadership, organizational culture and entrepreneurship. 

I specifically remember Marie discussing how she worked every day for no one else but her employees and investors. She was also asked how she felt about Amazon entering the sampling space and she answered with such confidence because of her belief in her team. 

After listening to the podcast, I told myself that if a job ever popped up at Sampler, I would apply. During my first meeting with Abdullah, he asked me what my favourite startup was. I said Sampler based on how Marie had inspired me during the podcast. I then saw a content marketing position open up at Sampler after I had graduated – it all really felt meant to be.”

An entire team fosters its work culture – what do you think is most important in this process?

Charlotte: “The pandemic has shown us the importance of fostering a values-driven work culture. The companies who have taken direct action to support their employees are the ones who will have great success in the next normal. 

To develop a great team culture, you must commit to living your values every day. It goes further than putting values on your website. It’s fostering a collective understanding of how specific values translate into action on a daily basis.

What really showed the DMZ was living their values was the team’s direct support of community members like myself in achieving their goals. 

I truly had a team of DMZ colleagues cheering me on and directly working with me at every stage of my job search, long after my DMZ internship ended. Nouhaila Chelkhaoui, DMZ’s Women Founders Programs Manager, referred me for my current role at Sampler. Nouhaila, along with Ahmed Saleh, Emily Collins, and Rob Macken all helped me make connections, prepare for interviews, review writing assessments, and find the right knowledge resources.  

“To develop a great team culture, you must commit to living your values every day. It goes further than putting values on your website. It’s fostering a collective understanding of how specific values translate into action on a daily basis.”

Could you tell us a little bit more about your role at Sampler? How did your time at the DMZ prepare you for it?

Charlotte: “This is an exciting time to join Sampler as they have seen so much growth this year as the pandemic expedited the shift to digital strategies for consumer packaged goods (CPG) brands. In my role, I develop organizational storytelling and thought leadership content that positions Sampler as a leader in the product sampling space.

Before I started my Masters, I remember hearing someone in the field say that good communications professionals are the linchpin to organizational success. I understood this idea in theory, but I saw it come to life by watching Natasha Campagna and Ahmed Saleh at the DMZ. They drove organizational alignment, remained so in tune with the broader ecosystem, and were amazing team motivators. Their work highlighted what made the DMZ special.

My time at the DMZ, along with completing my Master’s thesis on Big Tech’s facial recognition technology communications, solidified in me a commitment to take a more innovative approach to communications – an approach that moves beyond standard practice to speak directly to the lived everyday realities of target audiences. These experiences will guide my work at Sampler and beyond.” 

One of Sampler’s proudest achievements is having built a people-centred and values-driven workplace. We know in tech this is not always the industry standard. How do some of Sampler’s values like “ownership, balance, growth and inclusion” translate into daily activities for you and your team?

Kelly: “Weaving our values into everything that we do is truly at the core of our business. To us, you can’t have one without the other. Sampler has a Values Committee that works incredibly hard to ensure we’re living these values both internally and externally, from speaking out on causes that are important to us, to identifying ways that the company can foster work/life balance. They hold the entire business accountable to stay true to who we are, and it’s been such an invaluable piece of who Sampler is.

When it comes to ownership, Sampler has always fostered an entrepreneurial culture around each and every team member’s role. Our staff are experts in their specialties, and we give them the support to grow. Investing in people benefits everyone.

Inclusion is an extremely important value to us and something we continuously work hard to achieve. Recently, Sampler has made the decision to take a step forward in better representing non-binary consumers in the CPG space. Sampler has worked non-binary options into our platform and is actively working with brands to include non-binary consumers into the targeting on all of their sampling programs. 

When it comes to balance, our People Operations team sends out monthly company-wide surveys to get a pulse check on how the team is feeling. It’s created a safe space for everyone in the company to share how they’re feeling. From those results, we’ve launched flex hours, introduced permanent 4.5 day work weeks, and encouraged mid-day breaks. When we get any feedback around stress or burnout we take it extremely seriously and act quickly, which has helped our team trust that their voices are always heard and supported.”

“When you’re able to find talented people who really believe in your mission, the impact on the business is magical.”

Has prioritizing a values-driven workplace translated to your business performance? If so, how? What should early-stage startups think about when building their teams?

Kelly: “Absolutely—without a doubt. When you’re able to find talented people who really believe in your mission, the impact on the business is magical. People can feel how deeply we care for them and their careers, and it shows in the work that they do.

For early-stage startups building their teams, it’s so important to create a safe space to let team members know their voice matters. It’s easy to be too close to the business to really see where you might not be showing up for your team. Step back and see what the day-to-day experience is like for every single person at your company. It can really help to keep your perspective grounded and avoid seeing your culture through rose-coloured glasses. Never ever be afraid of feedback, no matter what stage or level you’re at in your career.”

What is Sampler up to today? 

Sampler has announced their newest tool within their product sampling dashboard, consumer sentiment analysis, which allows brand partners to quickly identify key trends in consumer feedback, effectively segment their audience and plan personalized remarketing campaigns. Check it out here. 

Want to learn more about the DMZ support that helped pave the way to Sampler’s Success? Click here for more information on our Incubator program.

How mental health looks in 2021: For companies, customers & founders

In light of Mental Health Week, the DMZ sat down with mental health startup founders for an inside scoop on how their companies are addressing mental health.


This week is Mental Health Week in Canada (May 3-9, 2021), and this year’s focus is to #GetReal about how you feel. That means the Canadian Mental Health Association is calling on us to express how we feel…“name it, don’t numb it”.

As you probably don’t need reminding, the past year has been a time of much anxiety and isolation. Almost everyone is feeling some level of worry, loneliness, sadness, anger, exhaustion and (as identified by this viral article in the New York Times) languish. 

Having a wide variety of emotions is human. Feeling and naming our emotions – even the uncomfortable ones – is part of good mental health.

To contribute to this week’s dialogue, we sat down with founders from two of our startups to talk mental health. In conversation is Mohsen Omrani, CEO & President of OPTT Inc., along with Alli’s Sarah Rennick, CEO & Co-Founder, and Cherry Xu, CTO & Co-Founder.

Here’s what they had to say:

Q: How is your company tackling mental health?

Sarah Rennick, CEO & Co-Founder of Alli

Sarah: Alli is our way of helping parents prioritize themselves – and become happier and more confident in the process. We do this by helping parents find support from licensed therapists who specialize in their current stage of parenthood. 

Our matching algorithm uses a 3-minute questionnaire completed by the parent to dive into their challenges and goals, and we use that to match them with the most compatible therapist. They say it takes a village to raise a child, and we would add that it also takes the right support team.  

Mohsen: OPTT is a virtual mental health platform targeted at healthcare organizations. Our goal is to help increase their care capacity and personnel efficiency by 4x. Instead of providing care to a limited number of patients, our vision is to develop clinically-validated, scalable solutions that allow clinicians to deliver high-quality mental health care to anyone, anywhere, anytime.

We recently announced a new partnership with Curatio to create a one-stop app with trusted news, community support and professional health care services. We are looking to expand this partnership by bringing a group of health care providers who are focused on mental health or chronic conditions, such as diabetes. We’re also now actively looking for local and federal entities to pilot the app with their members.

 

Q: How has the pandemic affected your work in the mental health space?

Mohsen Omrani, CEO & President of OPTT Inc.

Mohsen: For us at OPTT, the COVID-19 pandemic has been a turning point. We recognized, early on, that this challenge would create a silent mental health pandemic, which may only worsen in scope and severity in the months to come if left unchecked. To make matters worse, our current health system is strained and unable to meet demands. We saw an urgent need to develop innovative approaches to expand the capacity of mental health care delivery.

Already established as a virtual mental health platform, we teamed up with our clinical partner to develop and validate a new care plan that directly addresses mental health challenges caused by the COVID-19 pandemic. Our commercial partners have already achieved exciting results. The program has shown to reduce both anxiety and depression symptoms of employees by 40% in just the first five weeks of the nine-week program.

Cherry: That’s a great question. The truth is, the idea for Alli actually arose during the pandemic. We had been running our startup, Mama Mobile, which is a service that helps busy moms in the GTA and Ottawa get in-home massage therapy services, and with all of the lockdowns, we knew we needed to find different ways to support our communities. 

We did what any founder-at-heart does and we conducted 100 customer calls to talk with moms about what they needed most! What we heard was a resounding call for more mental health support. From there, Alli was born.

 

Cherry Xu, CTO & Co-Founder of Alli

Q: Have your customers’ needs changed with the pandemic?

Cherry: We’ve seen our customers’ needs change with the pandemic. In particular, we’ve seen parents struggle with added responsibilities and fewer breaks. With less time for themselves, it’s also been challenging for parents to find therapists that they can connect with and that truly focus on their life stage. 

Many parents put their own needs on the back burner – if this was true before COVID-19, it’s even more evident now. That’s why we’re trying to make it easier for parents to get matched with the right therapist.

Mohsen: Yes, definitely. Many telemedicine companies that previously didn’t have mental health services have since added our product to their offerings. Plus, with increasing demands for care, our customers have looked to us to provide additional capacity and support.

As a result, our partnerships and sales have accelerated and the number of patients using our platform has tripled.

 

Q: What advice would you give to startup founders to help protect their mental wellbeing?

Sarah: This is such an important question. One stigma that I’d like to disrupt is the mindset that you only need mental health support when you’re in crisis. So many of us wait until we hit that breaking point to reach out to a therapist. 

I recognized, a while back, that it’s incredibly important to give my mental health regular TLC. Entrepreneurs are constantly on the line between burnout and the next big win, and we need to find ways to recharge. Of course this is easier said than done, but I try to stay accountable by making time for bi-weekly therapy appointments. These have been a good chance to learn more about myself. 

I’ve also been learning how to better protect my energy, and what works (for me) to recharge it. I feel like it’s a process of continually sharpening my communication skills so I can name my emotions and ask for what I need, while also working to understand the world around me a little better. It’s not easy, but I think these are things we don’t talk about enough as entrepreneurs.

Mohsen: These are all great points that Sarah makes. Adding to that, I think it’s important for startup founders to remember that this is a marathon, not a sprint. It’s so important to pace ourselves and remember to take care of ourselves – every day, every month, every year. 

And most importantly, when the pressure is too high for one person, it’s important to find a good support person to talk to. There is zero shame in asking for help.


Do you need mental health support?

If you’re struggling with your mental health, know that you’re not alone. 

A great resource you can check out is confidential video counselling offered by DMZ alumni Inkblot Therapy. Inkblot’s services are completely free to many members of the DMZ community. This includes staff, their families, Incubator program startups, alumni and their families.

If you want to join the conversation on mental health and #GetReal about how you feel, head over to our social media accounts where we’ll be continuing the dialogue.

How to raise capital for your startup

Get advice from tech founders who have closed multi-million dollar investment deals for their startups.


DMZ’s startups and alumni have raised over $1 billion CAD in funding. Curious to learn more about the investment trends, and the startups that helped break $1 billion? Click here. 

Let’s face it. If you’re a startup founder, you’ll need to learn how to raise capital at one point or another.

At the DMZ, we appreciate how overwhelming the wild ride of funding a startup can be. Raising capital is, without question, one of the most challenging aspects of growing and scaling a business.  

Luckily, many DMZ alumni founders have been successful in attracting investors and securing funding – but, at one time, they were also in your shoes. In light of DMZ startups and alumni breaking $1 billion in funding, we asked founders for their best advice and lessons learned when it comes to startup fundraising. 

Here’s what they had to say.

“Create a job description for your ideal lead investor/board member. Evaluate everyone you meet through that lens. Helps flip the power dynamic. Are they the right investor for you?” – Bryan Gold, Co-Founder and CEO, and Adam Rivietz, Co-Founder and CSO, of #paid

paid

What’s new with #paid?

Co-Founders Bryan Gold and Adam Rivetz were recognized as part of Forbes 30 under 30 marketing and advertising list. Read more about their feature here. 

“There is plenty of capital out in the market, especially as markets are looking to bounce back from Covid. Founders need to focus on their business and the pain points they are looking to solve first. Get some early adopters and initial traction to prove the product market fit and the capital will follow. Founders often make the mistake of going after capital first to bring the idea to fruition, but with tools and resources these days, getting an MVP out by bootstrapping has become a lot easier.” – Kumar Erramilli, CTO and Co-Founder of ACTO 

What’s new with ACTO?acto

ACTO’s growth was accelerated following an $11.5 million USD funding round last August. Since then, ACTO has made two strategic acquisitions to bolster its mobile learning and patient-facing education capabilities, building on its promise to deliver true omnichannel education for learners within the care industry!

“Many tech founders look to raise capital to fund the development of a product or service, but bootstrapping and getting small loans from friends or family not only serves as a good vetting for your idea, but also can carry you through early development and allow for closing of the first couple of sales. This can go a long way to getting a better evaluation for your capital raise and minimizes costly early dilution.” – Adrian Bulzacki, Founder of ARB Labs

What’s new with ARB Labs? arb labs

ARB Labs launched ChipVue, a new optical based bet recognition™ system that provides real-time slot-like analytics for blackjack, baccarat and other carnival style table games. Learn more about ChipVue here. 

“Be very mindful of the investors you bring on board and really understand their motivations, expectations and their ability to support and partner with you over the years. Bringing on an investor is analogous to being in a marriage and so focus on building those relationships.” – Nishaant Sanghavi, CEO and Co-Founder of EnergyX 

What’s new with EnergyX?energy x

EnergyX was 1 of 6 tech firms in Toronto chosen by the federal government to receive funding to help support their long term growth. EnergyX is receiving $500,000 to expand its customer base and increase automation!

“Don’t build everything in-house! Many tools out there can create the “Wizard of Oz” effect of your product.” – Karen Lau, Co-Founder and CTO, and Michael Van, Co-Founder and CEO, of Furnishr

What’s new with Furnishr?furnish

Furnishr is growing! They are expanding their operations, sales and development teams. For more information on how to apply click here.

“When looking for investors, don’t be afraid to branch outside of Canadian borders.”– Eropa Stein, CEO and Founder of Hyre

What’s new with Hyre?

hyre

As a result of the COVID-19 pandemic, Hyre pivoted and now offers an employee scheduling platform for the healthcare industry, in addition to the hospitality and restaurant industry.

“The right fit with your investor is worth waiting for if you can afford it.” – Karim Ali, CEO of Invision AI

What’s new with Invision AI?invision

Invision AI has joined forces with Thales and Metrolinx to develop advanced autonomous technologies for rail systems with support from the Ontario government through Ontario’s Autonomous Vehicle Innovation Network (AVIN). Plus, they recently announced they have successfully completed high performance portable roadside vehicle occupancy detection field tests with over 97.5% precision! 

“Invest time in building your network. Create connections with people in the industry well in advance of needing the funding. When you are ready to start raising money, it will come much easier if you have developed the right connections.” – Erifili Morfidis, Co-Founder and Co-CEO, and Charlotte Gummesson, Co-Founder and Co-CEO, of iRestify 

What’s new with iRestify?

With the onset of the global pandemic, iRestify had to make some tough decisions and pivot as most of their clients, which were commercial office tenants, no longer had use for their space. As a result, they shifted their efforts and focused on the multi-residential property management sector. Learn more about their story of determination and growth here. 

“Fundraising is 70-80% preparation.” – Casey Binkley, Founder and CEO of Movia

What’s new with Movia?

Movia recently partnered with Corus entertainment to help launch two new tv shows, The Equalizer and Clarice. Movia’s truck advertisements offered the chance to bring the big screen feeling to the ads themselves, along with the ability to reach target audiences. Check out the full case study here. 

“Think long and hard about what you want to accomplish with your business, and what’s most important in your life before you raise a dollar.” – Corey Gross, CEO and Founder of Sensibill

What’s new with Sensibill?

Sensibill announced their new Sensibill Platform, which includes two new solutions, Spend Manager and Spend Insights, which aims to give financial institutions deeper data and insights needed to better serve and nurture financially resilient, loyal customers. They were also awarded with FinTech Breakthrough’s personal finance innovation award!

“Having access to required capital is a critically important aspect of growing a new venture. For new tech founders, surround yourself with trusted advisors who can guide you through the process of the structuring for and raising of capital. Having good advisors to be sounding boards for investor materials and your pitch is important. Treat raising capital like sales: create the right messages ahead of time, build a good funnel of prospects, get active and communicate often, don’t be afraid to hear the word no, listen to the feedback, but be selective on what you choose to refine, celebrate your wins and keep going. Treat your investors well as they can be extremely helpful in finding other investors. Most importantly, be yourself and speak confidently about your venture.” – Brian Deck, CEO of Smooth Commerce

What’s new with Smooth Commerce?

Smooth Commerce has launched great brands including Mary Brown’s, Fresh, Denny’s, Chop Steakhouse, Maker Pizza, Pizzeria Libretto and many more. Plus, Invest in Ontario named Smooth Commerce as one of the top 12 fintechs to watch in 2021 as they continue to elevate ordering and delivery and they were listed as one of Canada’s 2021 Best Workplaces™. 

“The most important part is having product market fit. Have a product that customers want regardless of how ‘beta’ it is. With that comes growth in your key metrics and makes everything a lot easier!’ – Hussein Fazal, CEO and Co-Founder, and Henry Shi, Co-Founder, of Snapcommerce

What’s new with Super (formerly Snapcommerce)?

Super (formerly Snapcommerce) recently secured $107 million CAD in growth funding, signalling confidence from investors in the company’s mission to expand beyond the travel industry! With the new round of funding Snapcommerce is looking to expand in different verticals, hoping to transform the way people shop on their phones. 

“It’s sales. You’re not raising funds. You’re selling shares. So run it as a sales process with a deadline. If you think you can generate anything close to the same amount of cash by spending that energy and effort on customers you’d be much wiser to sell products for cash than equity.” – Brennan McEachran, CEO and Co-Founder of Soapbox

What’s new with Soapbox?

Soapbox released a new Zapier integration, enabling teams to instantly connect Soapbox with over 2,000 apps to automate their work and become more productive. Users can now unlock powerful integrations like Asana, Trello and Microsoft To Do.  

“Take your time to identify VCs with investment portfolios that are aligned with your specific business sector. “ – Laura Bryson, COO and Co-Founder of SWTCH

What’s new with SWTCH?

Earlier this month, the federal government announced a $235,000 investment for SWTCH to install 61 electric vehicle chargers across Ontario and Quebec. By leveraging SWTCH’s solution, the government hopes to encourage the adoption of zero-emission vehicles and provide consumers with more green options to charge and drive their vehicles! 

“Raise money only when it’s absolutely necessary. You want to raise money when you feel like you will get favourable terms. To get favourable terms, you need to show traction and that takes time. So instead of coming up with an idea and thinking “I need to raise money”, try to do as much work to prove out the value of that idea (create a non-functional wireframe, get feedback from potential customers, etc).” – Swish Goswami, CEO and Co-Founder of Trufan 

What’s new with Trufan?

Trufan announced the completion of its $2.3 million CAD seed round this past March, bringing their total funding to $4.1 million CAD. They plan to launch a consolidated platform later this year that will allow any brand to generate, segment, and activate first party data.

“My advice to founders raising for the first time: spend a few weeks preparing all your materials and test out your messaging on a variety of audiences. Once you go out to raise, run a rigorous process and focus on finding the best partner that will support your vision for your business.” – Monika Jaroszonek, CEO and Co-Founder of Ratio.City

What’s new with Ratio.City?

Ratio.City is hiring! Their team is looking for a Lead Product Designer to help them translate user stories into effective and intuitive interfaces. Learn more about the position and apply here. 

“Every founder should find one or more capital partners as a growth partner in all aspects of business and life, because the two are inseparable. An ideal investor will be a good companion when say, a global pandemic hits and supply chains are just as disrupted as childcare plans, or when a parent gets ill just as you land a major customer. Together you’ll make difficult decisions and find new opportunities.” – Manu Kabahizi, CTO and Co-Founder of Ulula

What’s new with Ulula?

Ulula recently was awarded the 2021 #StopSlaveryAward by the Thomson Reuters Foundation for their innovative Kufatilia mobile-based impact monitoring project, that reports mine accidents, theft, corruption, fraud, child labor, environmental issues, and more in the mining sector.

It took 11 years for DMZ startups and alumni to break $1 billion in funding, but with our current momentum, made possible by our dedicated founders, we are confident we will be able to reach the next billion in a fraction of the time. 

Looking for even more expert advice on how to raise? Be a part of the next billion. Learn more about DMZ programming here.

2021 federal and provincial budget digests

How the 2021 federal and provincial budgets impact small businesses and startups

This past month, the federal and provincial government unveiled their long-awaited budgets. With both plans focusing on keeping citizens safe and healthy and kick starting our economic recovery, we now have a glimpse into what the road to post-pandemic recovery will look like.

DMZ has reviewed both the Ontario provincial and federal government budgets and identified key commitments that will affect the small business and startup ecosystem.

Here’s what you need to know about both budgets.

Federal Budget Highlights

The full federal budget can be found here.

High Level Overview – Big Measures

  • $101.4 billion in new spending over three years to fuel the recovery and kick-start the transition to a green economy.
  • $30 billion over five years and $8.3 billion per year after that to create and sustain a national child care program. Goal is a $10/day child care service by 2025-2026.
  • $18 billion to build safer, healthier Indigenous communities.
  • $17.6 billion for green recovery — to conserve 25% of lands and oceans by 2025 and to put Canada on course to exceed climate change targets by cutting emissions to 36% below 2005 levels by 2030.

Small Business Support

  • Emergency Subsidy Supports: The Canada Emergency Wage Subsidy and the Canada Emergency Rent Subsidy will be extended until September 25th 2021, with the possibility of extension till November.
  • Canada Recovery Hiring Program:  A $595 million investment to help businesses pivot to recovery with incentives to hire back, grow hours, or increase wages.
  • Sectoral Workforce Solutions Program: A commitment to provide $960 million over three years for a new training program. Funding will help design and deliver training that is relevant to the needs of small and medium-sized businesses, and to their employees. 
  • Digital Adoption Program: A commitment to a $4 billion investment into a Digital Adoption Program to help Canadian small businesses become more competitive, go digital, and take advantage of e-commerce.
    • This investment will help 160,000 businesses become more competitive, and will create jobs for 28,000 young people.
  • Lowering Credit Card Fees: A commitment to engaging with stakeholders to lower the average overall cost of interchange fees for small businesses.
  • Creating the Small Business and Entrepreneurship Development Program: The government is investing over $100 million to ensure Canada’s entrepreneurship ecosystem is supporting inclusive growth. 
    • Enhancing the Canada Small Business Financing Program: The government proposes to improve the Canada Small Business Financing Program through amendments to the Canada Small Business Financing Act. Amendments are projected to increase annual financing by $560 million, supporting approximately 2,900 additional small businesses. 
    • The government is investing $2.6 billion over four years to the Business Development Bank of Canada to help small- and medium-sized businesses finance technology adoption. 
  • Support for Women Entrepreneurs: The government will provide up to $146.9 million over four years, to strengthen the Women Entrepreneurship Strategy.
    • Women entrepreneurs would have greater access to financing, mentorship, and training. Funding would also further support the Women Entrepreneurship Ecosystem Fund and the Women Entrepreneurship Knowledge Hub.
  • Supporting Black Entrepreneurs: The government is investing an additional $51.7M in the Black Entrepreneurship Program, on top of the previously invested $221 million, to further strengthen the Black entrepreneurship ecosystem.
  • Supporting Aboriginal Entrepreneurs: The government is committing $42 million over three years to expand the Aboriginal Entrepreneurship Program.
  • Strategic Innovation Fund: Budget 2021 proposes to provide the Strategic Innovation Fund with an incremental $7.2 billion over seven years on a cash basis, starting in 2021-22, and $511.4 million ongoing. 
  • Student Work Placement Program: The government is committing $239.8 million in the Student Work Placement Program in 2021-22 to support work-integrated learning opportunities for post-secondary students. 
  • Skills for Success Program: The government is investing $298 million over three years in a new skills program that would help Canadians at all skills levels improve their skills. The program will fund organizations to design and deliver training to enhance foundational skills, such as literacy and numeracy, as well as transferable and soft skills.

Venture Capital

  • The government has committed to increase venture capital funding and support the continued growth of Canada’s innovative companies, the budget proposes to make available up to $450 million on a cash basis over five years, starting in 2021-22, for a renewed Venture Capital Catalyst Initiative that would increase venture capital available to entrepreneurs.
    • $50 million of this amount would be dedicated to support venture capital investments in life science technologies.
    • $50 million of this amount would support a new Inclusive Growth Stream to increase access to venture capital for underrepresented groups, such as women and racialized communities.

Child Care

  • Establishing a Canada-wide early learning and child care system: The government is investing $30 billion over the next 5 years to establish a $10 per day Canada-wide early learning and child care system which will help all families access affordable, high-quality, and flexible child care no matter where they live. This is the largest initiative to increase the size of Canada’s Labour force since NAFTA.

Minimum Wage

  • Establishing a $15 minimum wage: The Government of Canada announced its intention to introduce legislation that will establish a federal minimum wage of $15 per hour, rising with inflation, with provisions to ensure that where provincial or territorial minimum wages are higher, that wage will prevail. 

Green Recovery 

  • The government has committed $17.6 billion into Canada’s green recovery, which it says will help the country exceed its Paris Agreement targets and reach net-zero emissions by 2050.

Supporting Asian Canadians

  • With the increase in reports of harassment and attacks against Asian Canadians, the government will invest $11 million over two years, to expand the impact of the Canadian Race Relations Foundation.

Other notable commitments

  • The Universal Broadband Fund, designed to bring better internet service to remote and rural communities, is getting an extra $1 billion over six years.
  • The CanCode program, which helps young people learn digital skills including coding, is getting $80 million to help it reach three million more students, with an emphasis on underrepresented groups. 
  • The federal government will appoint its first data commissioner, who will issue guidance to help protect people’s personal data and to encourage innovation in the digital marketplace.
  • In efforts to streamline the Express Entry program for highly skilled immigrants, the immigration minister will have the authority to help select Express Entry candidates to become permanent residents. 
    • There’s also a promised overhaul of the digital platform that supports Canada’s immigration system. The government will spend $428.9 million in new funding over five years, so that application processing will improve starting in 2023.

__________________

Provincial Budget Highlights

The full provincial budget can be found here.

High Level Overview – Big Measures

  • $16.3 B to Protect Health of Ontarians
  • $23.3 B to Protect the Economy
  • $39.6 B Total Direct Support 
  • $11.3 B Cash Flow for People and Business 
  • $51 B Total Supports over next four years

Small Business Support

  • Ontario is committing to an additional round of support for small businesses through the Ontario Small Business Support Grant. 
    • Small businesses who have been determined as eligible recipients of the Ontario Small Business Support Grant will automatically be entitled to a second payment equal to the amount of their first payment, for minimum total support of $20,000 up to a maximum of $40,000 — no new application necessary. Confirmed eligible businesses can expect to receive their second payment later in the spring.
    • Eligible business owners who have not yet applied for the grant have until March 31, 2021, to submit an application.
  • For main street businesses: Ontario is investing an additional $10 million in the Digital Main Street program in 2021–22 to help more small businesses achieve digital transformation and serve customers effectively online. The program will continue to provide digital transformation grants, an online learning platform, training programs, and digital service squads offering technical support to small business owners.

Investment Support

  • Ontario is committing $400 million over four years to create the Invest Ontario Fund, which will support Invest Ontario and encourage investments in the key sectors of advanced manufacturing, technology and life sciences. The province is pitching it as a “‘one-stop’ shop for business and investors. This is the first funding commitment for the new agency, which the government launched in its last budget. 

Reskilling and Training Tax Credit

  • The government is proposing a new tax credit that would give recipients up to $2,000 to cover 50% of the cost of re-training, for a total of $260 million for 230,000 workers. This refundable tax credit is eligible for those 26 to 65 years in age to seek financial support to return to the Ontario job market. This credit is eligible to be used for tuition to aid in training for new skills at public and private colleges across the province.

Digital Government

  • The highly anticipated digital ID is expected to be released by the end of year. This new form of secure, electronic government-issued ID will conveniently be used to access government services while protecting data privacy. This technology will allow users to be in full control of personal information and who it is shared with. 
  • The government has also set aside $500 million for the Ontario Acceleration Fund which includes:
    • $2.2 million to develop the Single Window for Business, a transformational digital solution designed to use emerging technology, data, and responsive design to improve the business experience with government services. A designated single window will provide a solution that makes it easier for businesses to access the information and services they need to get up‐and running, create jobs and grow.

Increased Broadband Capacity

  • The budget pledges $2.8 billion in new funding for broadband infrastructure, as the province promises to expand reliable services to every region of the province by 2025. The commitment brings its total broadband funding to almost $4 billion for the six years starting in 2019–20. 

Ontario Vehicle Innovation Network

  • Ontario is investing $56.4 million over the next four years to create the new Ontario Vehicle Innovation Network. This will help accelerate the development of the next generation electric, connected and autonomous vehicle and mobility technologies that contribute to a lower environmental and carbon footprint.

Research and Development

  • The province plans to contribute more than $500 million to research and development with the potential for health-related and other breakthroughs at universities, colleges and academic hospitals. It plans to spend the money alongside federal and private-sector partners, citing the Ontario Institute for Cancer Research, the Ontario Brain Institute, Ontario Genomics, Compute Ontario and the Fields and Perimeter institutes.

Are you a founder trying to navigate the startup ecosystem? Learn more about programming DMZ offers here.

Breaking $1 billion in funding: DMZ startups reach a major milestone

DMZ’s startups and alumni have raised over $1 billion CAD in funding


Note: All figures are reported in Canadian dollars.


DMZ companies have officially surpassed $1 billion in total funding raised. While the DMZ has been supporting startups for the last 11 years, the majority of this funding has been raised by startups in the last five years (over $940 million since 2016).

This milestone is a victory for the entire Canadian startup ecosystem. It’s a testament to the level of confidence that government, investors, and startup support organizations have in Canadian tech founders to lead world-class businesses. It’s true that startups who have proven market traction, strong competitive advantages and IP protection will attract investors. But oftentimes, qualitative traits that a startup has may be even more valuable in the eyes of an investor – like having a solid diverse management team that fosters great company culture or a founder that has tremendous passion and drive to make a difference.

Let’s dive into the numbers to explore tech investment trends over the last decade, from the largest funding rounds to the industries receiving the most investment dollars. 
This major milestone has been achieved through 194 DMZ-supported startups that have received a total of 424 investments from 2011 to 2021. 

The raise that pushed the DMZ to break past the $1 billion mark was Toronto-based Snapcommerce’s recent $107 million raise. Snapcommerce was incubated at the DMZ in 2016. This announcement also marked the largest single funding round on record for DMZ alumni! 

After a year like 2020, with so much uncertainty to navigate, DMZ startups preserved and were able to continue to secure funding. Over $185 million was raised in 2020 alone.


Top 10 startups and top 10 funding rounds

The top ten startups that have received the most investment dollars have collectively raised over $700 million. The top five – Borrowell, Snapcommerce, Sensibill, Ada Support and Flybits – accounting for an impressive $560 million of that. That’s over 50% of the total funding raised by all DMZ startups.


Funding breakdown by stage

These investments come from a variety of funding sources, including equity crowdfunding, government grants, pitch competition awards, and angel and venture capital investments from the pre-seed stage to Series C and beyond.

The sheer number of stakeholders that have played a role in reaching this $1 billion achievement illustrates the importance of industry-wide collaboration and cooperation. 

The way in which this ecosystem plays as a whole determines its success.


Funding breakdown by industry

When breaking down the industries of startups that raised the most money, startups in Financial Tech take the lead. A total of 11 startups representing this industry raised a combined $273 million – that’s over a quarter of the total funding raised by DMZ companies across all industries. The industries that followed were Retail Tech ($213M), Enterprise Tech ($131M), Health Tech ($100M),  Arts & Entertainment ($59M), Marketing ($27M), Education Tech ($32M), Communications ($29M), Consumer Tech ($26M)and Insurance Tech ($25M).


Huge gaps in funding support still exist

The Canadian tech ecosystem has become increasingly competitive – this milestone speaks to the growth and potential of our startups. Yet, startup founders still say that accessing capital is their biggest challenge and roadblock to success.

Seed deals have slowed down significantly in recent years and early-stage financing has become progressively more difficult to secure.

That’s why the DMZ is doubling down on its efforts to help startups in the early stages receive more investment strategy support, access to investors and dedicated fundraising workshops, and mentorship from professionals who specialize in fundraising – especially through our Black Innovation and Women Founders streams to support women-owned and Black-owned startups that have historically been underfunded.

Want to be a part of the next billion? Email us at dmz@torontomu.ca. Learn more about the DMZ’s programming here.

« Older Entries

Newer Entries »