Team + Global pain point + Technology + Disruptive business model = Success!
At ventureLAB we pay close attention to successful business models. And I can say without a doubt that it is not just great technology that wins. There are many parts but I think the intangible element called “team” is the catalyst.
I can say this because I have personally had the pleasure of both assisting and working with many successful innovators right here in our Ontario knowledge based economy. These people always had well defined global pain points, great technology solutions and jump-start disruptive business models.
However, most often, no one person put it all together. It’s was all about what some call “passionate” teams. Which, when properly harnessed, somehow magically get across their finish lines first and succeed.
The great ones make it look easy.
What makes these winners very different is that they really, really understand their customer’s wants and needs. And they are absolutely relentless in their pursuit of solving those needs.
A couple examples of how this kind of team passion shows up at game time;
Sir Terence Hedley Matthews OBE, FIEE, FREng the Welsh-born Canadian serial high tech entrepreneur and Wales’ first billionaire has been quoted as saying; “There is no innovation without a lead customer.” Sounds so simple, and Terry’s track record proves his words.
Closer to home, in March 2011 our own Toronto based Shiny Ads closed a seed funding round led by the two largest Angel networks in the greater Toronto area – Maple Leaf Angels and York Angels. This was quite an achievement. In conversation about this, Shiny Ads Founder and CEO Roy Pereira said, “Passion is everything in a start-up environment. If you truly believe in your product and execute like your life depends on it, then success will follow.”
I can speak for my organization and many of our colleagues when I say that we are all immensely proud of the Shiny Ads team. And we applaud the efforts of our partners at both Maple Leaf Angels and York Angels for recognizing the investment value of their company.
To my point, Shiny Ads is a great example of how great teams can work collaboratively to drive value to our own very important start up community.
So our hearty congratulations and best wishes for continued success to Roy and his great team. We are paying attention.