How to access the in the San Francisco Bay Area Consulate General of Canada San Francisco / Silicon Valley SFRANTD@international.gc.ca July 2012
So You Want To Reach the San Francisco Bay Area? The San Francisco Bay Area is not only the academic and cultural center of Northern California, but also a center for R&D, innovation, entrepreneurship and venture financing. It continues to generate and receive the lion s share of venture capital in the US, amounting to approximately $11.8 billion in 2011. It is home to global business clusters in information & communication technology, cleantech and life sciences and leading Fortune 500 companies. Coupled with its culture of open innovation and early adoption, this is where entrepreneurs come to change the world. As a result of this concentration of risk capital, entrepreneurs, and major corporate players, companies in the Bay Area have access to unique resources to accelerate their growth. As a client of the Canadian Trade Commissioner Service, one such resource is the Canadian Technology Accelerator (CTA). The What? The Consulate General of Canada in San Francisco/Silicon Valley developed the CTA in an effort to support faster growth of Canadian technology companies. Through the CTA, selected companies can join one of four accelerators operated by the Consulate in the Bay Area, at no business cost and with dedicated support from the Trade Commissioner Service. Immersion in the Bay Area s business ecosystem facilitates access to an unparalleled network that provides entrepreneurial inspiration and new perspectives. The CTA helps companies refine their business model, collect competitive intelligence, pursue key clients, access financing sources and engage strategic partners. 1. Plug and Play (CTA@PnP) The CTA@PnP is located in one of Silicon Valley s most established accelerators in Sunnyvale, CA. It specializes in growing tech start-ups and SMEs that deal in hardware, software, wireless/mobile solutions and connected cars. The open concept CTA@PnP houses up to six Canadian companies, accommodating two people per desk. Companies are expected to work from the CTA@PnP for a maximum of three months on a full-time basis. In addition, select companies are given the opportunity to participate in Plug and Play s own accelerator program at no additional cost. While at the CTA@PnP, companies might pitch at the Plug and Play Expo in front of hundreds of investors, or at weekly pitch sessions in front of Executives-in-Residence looking to invest. Corporate partners 2
like Oracle, Microsoft, ebay, Google and PayPal have permanent offices at Plug and Play in order to facilitate their search for talent, partnerships and acquisitions. While at the CTA@PnP, companies are provided with free private broadband internet connection, printing, faxing, conference rooms and shared phone lines. Approximately 300 companies work out of this space at any given time. 2. RocketSpace (CTA@RocketSpace) The CTA@RocketSpace is located in the heart of San Francisco s SOMA District, a top tech and new media cluster surrounded by well-known digital media companies such as Twitter, Zynga, CBS Interactive, MTV Networks, StubHub, Yammer and hundreds more. RocketSpace currently hosts more than 130 post-seed-funded startups in mobile, gaming and Web 2.0, and boasts a roster of successful tenants and graduates such as Uber, Zaarly, PocketGems, Zappos, Spotify and Achievers. It is the largest shared-work accelerator facility in San Francisco. RocketSpace s quality is recognized industry-wide, which encourages leading venture capitalists and corporate investors to attend the multiple events it hosts each week. The CTA@RocketSpace has eight desks and accepts up to two people per company. Companies are expected to work from the CTA@RocketSpace for a maximum of three months. While there, they benefit from free printing, faxing, internet, private networks and meeting rooms. 3. Environmental Business Cluster (CTA@EBC) The CTA@EBC is located in an award-winning cleantech accelerator in San Jose, CA. Thanks to its substantial network of resources, the CTA@EBC provides services and infrastructure for high-growth companies focused on renewable energy generation, energy storage, energy efficiency, biofuels, cleaner fossil fuel processes, water purification and management, waste water treatment, recycling, pollution reduction and advanced materials (including nanotechnologies). The services provided are aligned to the needs of energy and environmental companies, namely: expert coaching and strategic counsel; focused educational and networking programs; targeted access to investors, strategic partners and industry networks; and furnished office space, equipment, conference rooms and training facilities. The CTA@EBC can host three Canadian companies for up to four months at a time (flexible arrangements possible) within a wider peer group of 25 entrepreneurial companies. This accelerator regularly hosts opportunities for targeted interactions with their sponsors and contacts, which include Chevron, the California Energy Commission, Autodesk, the National Energy Research Laboratory, and the most active cleantech corporate and venture investors in Silicon Valley. 3
4. Life Science Accelerator (CTA@MissionBay) Located in the heart of San Francisco, the CTA@MissionBay is a unique partnership with the Quantitative Biomedical Center at the University of California, San Francisco s Mission Bay campus. This accelerator is the first of its kind for Canadian life science companies world-wide. The vision for Mission Bay was to create a space where scientists and entrepreneurs could take bold new ideas to market faster and more successfully than anywhere else in the world. To that end, the community is home to two other successful accelerators housing 50-100 startups, a new state of the art pediatric hospital, healthit companies (e.g. Practice Fusion), UCSF s cardiology and neurology group, and a vibrant industry and venture community (e.g. Nektar Therapeutics, Fibrogen, Mission Bay Capital, Apposite Capital, etc.). All of this makes it an ideal accelerator for companies in the healthit, mobile health, therapeutic and diagnostic space. Canadian companies accepted into the program have six months access to the powerful Bay Area community, learning opportunities, and office support services. And That s Not All. There s More. C100 The C100 is a Canadian expatriate group made up of C-level executives, venture capitalists and serially successful entrepreneurs. As a CTA-member company you are eligible to partake in C100 Office Hours. Prior to these sessions, you will be asked to submit a list of challenges your company is facing. You will then be offered two onehour sessions per month with different C100 members who can leverage their own experience, expertise and relationships to help your company grow. Please note that, for now, C100 Office Hours only apply to members of the CTA@PnP and the CTA@RocketSpace. Events & Community Beyond access to the C100 network, you will benefit from the culture of collaboration, open innovation and entrepreneurial inspiration cultivated amongst companies in an accelerator. This community shares advice, ideas, and contacts, and lends an ear when you need to practice your pitch. Whether you re chatting at networking /matchmaking/investor events organized by your accelerator, or chatting at your desks, you will join a cooperative and collaborative community of start-ups from Canada and around the world. 4
And More. Trade Commissioner Service As a CTA member, you will receive dedicated Trade Commissioner services from the Consulate s experienced commercial officers. The Trade Commissioner Service, http://www.tradecommissioner.gc.ca, can provide you with on-the-ground intelligence and practical advice on foreign markets to help you make better, timelier and more cost-effective decisions. These services include advice on how to position your business for success in the Bay Area; introductions to business and funding sources; access to potential corporate partners; introductions to experienced mentors and advisors; and introductions to business professionals (legal, HR, finance) who have offered to provide free consultation services to CTA members. But Before You Can Apply, Here s What WE Expect Of YOU: CAPACITY to take advantage of the CTA opportunity An idea, a PowerPoint presentation and a dream while a good start are not enough. We work with companies that have a demonstrable product and at least initial traction in the marketplace as evidenced by users or paying customers. Ideally, your company is made up of at least three employees, the majority of whom will remain in Canada while you are at the CTA. Our CTA-member companies have earned some amount of revenue and are able to highlight the past experience and qualifications of their management team. Has your company won any awards? Tell us that! Have you already done business in the Bay Area? Tell us that too! Have you participated in any programs offered by the Consulate or the Trade Commissioner Service? Definitely tell us that! And remember: you need to be able to get yourself to and from, and cover your living expenses in, the Bay Area. COMMITMENT to making the most of the experience One of the first questions you ll be asked is what Canadian partners have you worked with? If your answer is none, then you re not quite ready for the CTA yet. Many of the relevant actors in Canada accelerators, venture capital firms, associations, etc. have direct connections to the Consulate and the C100. Ask your local Regional Office of the Trade Commissioner Service, http://www.tradecommissioner.gc.ca/eng/offices-in- 5
canada.jsp, for a list of accelerators and entrepreneur competitions in your area. Explore these resources in order to bolster your CTA application. As a CTA member, you only have a few months to make the experience count. Here is what you should prepare in advance of applying: A clear expression of your company s value proposition and objective(s) in the Bay Area and beyond. A preliminary sense of specific contacts you want to meet in the Bay Area. The ability to express why you want to meet these contacts, and why they should want to meet you. A clear understanding of the various financing mechanisms that can help grow your company. A pitch deck that you have delivered before (Need an example? Check out http://www.canaan.com/resources/archivs/entrepreneur-pitchbook) The CTA experience is ideal for companies who are interested in establishing a presence in the Bay Area, furthering their growth in this key market, pursuing Silicon Valley based venture capital, seeking strategic partnerships or acquiring new customers/clients. The CTA accepts applications on a rolling basis, and these can be obtained through your local Regional Office of the Trade Commissioner Service. The Story Of VI Technologies VI Technologies, a BC-based company, is a recent graduate of the CTA@PnP. Its founder arrived at the CTA with his business plan in hand, which he shared with his assigned Trade Commissioner. In preparing this plan, the founder had done extensive research into the kinds of contacts he wanted to make in the Bay Area; while he could not identify them by name, he had learned enough to identify them by title. Since one of VI Technologies goals was to secure financing, its founder had also researched the types of start-ups in which different venture capital firms and individual partners were investing. As a result, he knew exactly which firms were most likely to invest in a company like his. While at the CTA@PnP, this founder took every opportunity to deliver a polished pitch to his previously-identified targets. He also pitched weekly in front of the Executives-In-Residence and at other pitch events in the Bay Area. He stayed open to feedback, and went so far as to rewrite his business model and pitch after participating in the Plug and Play Accelerator Program. These efforts paid off, and VI Technologies secured half a million dollars in financing and solid customer traction while at the CTA@PnP. 6
OK, I Get It. And I m Ready. So Now What? There are a number of ways to express an interest in the CTA: 1. Through your local Regional Office of the Canadian Trade Commissioner Service. Ask to be connected to the Trade Commissioner responsible for your company s sector of interest, be it information and communication technology, cleantech or life sciences. 2. Through one of our partners listed at Annex 1 (does not apply to life science companies). 3. Through the C100 website at www.thec100.org, where under the Companies tab you can opt to Create your profile! (does not apply to life science or cleantech companies). 4. Through Tiffany Rushton at TRushton@achillesmedia.com, on behalf of the Canadian Innovation Exchange (does not apply to life science or cleantech companies). Should you be considered a potential fit, you will be referred to the relevant Trade Commissioner at the Consulate who will conduct a final assessment. You can expect acknowledgement from this Trade Commissioner within five business days of your referral. Congratulations! You re IN. Once accepted into the CTA: You and your Consulate Trade Commissioner will agree on attendance dates. He or she will send you a short Memorandum of Understanding (MOU) to sign, which outlines specific expectations and solidifies commitment on both sides. If necessary, you will be directed to sources of information on the visa process. However, please be aware that the Consulate cannot assist you in this process. Upon your arrival in the Bay Area: You will meet your Trade Commissioner at your designated accelerator. You and your Trade Commissioner will review your company s objectives and formulate the outline of a plan for your time in the Bay Area. The C100 Office Hours process will be explained. 7
You will be given access to invite-only Consulate networking events. At the end of your tenure in the CTA, you will be required to give an exit interview and to share your stories of success as your business grows! Beyond that well, that s up to you. This experience is entirely dependent on your own drive and initiative. Remember: This Is A Competitive Process. SHOW US WHAT YOU VE GOT! 8
Annex 1: In-Canada Partners The Consulate works closely with numerous partners in Canada to help find qualified applicants for the CTAs. Alberta-based companies can connect with: 1. Heli Carswell in the Alberta Ministry of International and Intergovernmental Relations, at Heli.Carswell@gov.ab.ca. 2. Drew McNaughton of the Alberta ICT Industry Association, at ExecDirector@AlbertaICT.ca. 3. Julia Rezler of Clinexus, at jrezler@clinexus.ca. British Columbia-based companies can connect with: 4. Richard Sawchuk in the British Columbia Ministry of Jobs, Tourism and Innovation, at Richard.Sawchuk@gov.bc.ca. 5. Glen Sampson from the Natural Research Council Industrial Research Assistance Program at Glen.Sampson@cnrc-nrc.gc.ca. Quebec-based companies can connect with: 6. Mario Piche from the Canada Economic Development for Quebec Regions at Mario.Piche@dec-ced.gc.ca. 7. Michel Arsenault from the Natural Research Council Industrial Research Assistance Program at Michel.Arsenault@cnrc-nrc.gc.ca. Ontario-based companies can connect with: 8. Gregory Fruchet from the Natural Research Council Industrial Research Assistance Program at Gregory.Fruchet@cnrc-nrc.gc.ca. 9. Shirley Townsend of the Ontario Ministry of Economic Development and Innovation, at Shirley.Townsend@international.gc.ca. Companies in the Atlantic Provinces can connect with: 10. James Curry of the Atlantic Canada Opportunities Agency, at James.Curry@acoa-apeca.gc.ca. 9
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