In The News

Toronto start-up companies are increasingly using a new innovative approach to launch a business according to The Mark Online Forum. As a result of the recent financial crises start-up companies have been facing a shortage of capital. Rather than discourage emerging Toronto business, this investment capital shortage has led to what has been dubbed "lean startups," companies that focus on getting a product to customers as the first priority and "only after this link between product and market has been established are additional resources devoted to trying to grow the business, including a larger investment in marketing and sales."

"Companies that make it this far are more likely to be successful, while those that fail to find a market for their product at least don't waste as much money on it."

"In many cases, the lack of capital is forcing startups to build highly innovative business models that are predicated on engaging customers earlier," says Duncan Hill, General Partner of Mantella Venture Partners. "This is a great thing for young companies and will serve them well in the long term." Derek Smyth, a Partner at Edgestone Capital, a leading Toronto VC firm agrees. "It's a lot cheaper to fail and that's obviously a good thing."

The lean startup approach means that companies are looking for smaller seed investments. This puts them outside the domain of traditional Toronto venture capital that typically invests larger amounts of money once the company has a proven product or an established stream of revenue."

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original source The Mark

Toronto students had the opportunity to meet with, and be inspired by, world-changing entrepreneurs and innovators at the "Inspire Connect Achieve", conference that took place at City Hall on Feburary 28th. The event featured illuminaries from around the world of black history and heritage as part of the city's celebration of Black History Month.

"Inspire Connect Achieve is a celebration of black history and heritage, with a focus on exposing youths to career opportunities they may not have considered," explains Sylvia Searles, the brain behind the event.

"It's about broadening horizons, making connections."

"The goal is to connect each youth attendee with at least one black professional, entrepreneur or skilled tradesperson who is committed to meet with the youth for at least one half-hour in March to discuss career aspirations."

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original source Toronto Star

A feature in the National Post looks at Canada's entrepreneurial spirit. Self-employment in the country has nearly doubled in just over 30 years, leading economists to conclude that the growth of the country's small businesses is "less of a recessionary blip and more of a permanent structural shift in the labour force".

"While the United States is usually the country hailed for its can-do business spirit, Canada is proving to be the home of the fearless entrepreneur."

"Recession-weary Canadians have gone into business for themselves in near-record numbers in the past couple of years, and the trend shows no signs of slowing as hiring by larger corporations remains slow. The trend to self-employment goes against activities south of the border, where small-business growth has been weak."

"Economists and policymakers are generally pleased with this development � after all, it shows that Canadians are nimble and entrepreneurial. Self-employment also brings a level of job satisfaction that is usually far superior than in bigger corporations. And small businesses, which make up almost 98% of all businesses in Canada, are always key to emerging out of a recession."

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original source Globe & Mail

According to the Music Industry News Network Toronto has been chosen to host the Inaugural Digital Strategies Conference, a gathering of music industry insiders focusing on "marketing products and services in the Digital Age". The event, scheduled for Wednesday, March 10, at Toronto's Fairmont Royal York Hotel, is expected to draw speakers and participants from around the world.

"From start-ups to Fortune 500 companies, online marketing is key to business success. Presented by Digital Media Wire, in association with the Canadian Association for the Advancement of Music & the Arts (CAAMA), marketers and business owners will learn how to use the latest e-business tools and make smart investment decisions with limited marketing dollars."

"This full-day event will feature appearances from media executives discussing top digital media and marketing trends. Panellists will highlight how to maximize revenues by leveraging social media communities, online analytic tools, search engine marketing strategies and video platform tools."

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original source Music Industry News Network

The Martin Prosperity Institute, located at the Rotman School of Management at the University of Toronto, is getting international attention for research that links a person's level of happiness to their level of education. As reported by the New York Times, the school's report found a correlation between higher education and increased levels of general well-being.

"Ignorance isn't bliss. Rather, education is. At least, that's what trends in education and  well-being levels across American cities seem to show...Richard Florida, director of the Martin Prosperity Institute , and his colleague Charlotta Mellander have taken a closer look at the metropolitan well-being numbers. They found moderate correlations between happiness and other factors, like  wages, unemployment and  output per capita. But the variable they looked at that showed the strongest relationship with happiness was "human capital," measured as the share of the population with a bachelor's degree or higher."

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original source New York Times

Toronto entrepreneur and financial investor Andrew Heintzman was the subject of a recent feature on Investment Executive. Heintzman stands out for his successful contribution to the green economy. His company Investeco Capital Corp�which has assets of about $45 million�restricts investments to companies focused on environmental goods and services.

"Heintzman believes the time has come for green companies. Referring to more than a decade of personal reflection about environmental change and how it can be accelerated, Heintzman says: "I wanted to focus on the intersection of ecology and commerce. I felt it was going to be a great business to be in because the problems are so significant that we really need new companies."

"Like Heintzman, who also volunteers his time to environmental non-profits, many financial advisors are making environmental concerns a priority. While some pursue their goals through business ventures, many more donate their time, energy and skills to green causes. And more and more often, it seems, the private passions that have driven the environmental movement for decades are now spilling over into mainstream business ventures."

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original source Investment Executive

Toronto's Carlton Cinemas may be getting a second life after being closed in December by owner Cineplex Odeon. As reported by the Torontoist  Magic Lantern Theatres has assumed ownership of the space and is aiming to have it reopened to Toronto movie-goers as early as June of this year.

"Gulshan Singh, spokesman for Magic Lantern Theatres, told Torontoist during a phone call this afternoon that "June is the target date" for reopening the multiplex, which will still be called "Carlton Cinemas."

"The entire interior of the space will need to refurbished, Singh said, but Magic Lantern has been spared the effort of dismantling the old Carlton's facade�Cineplex Odeon did that themselves, along with much more, shortly after the theatre's closure."

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original source Torontoist

Toronto toy-maker Spin Master, has been chosen as the sole toy company to create an an exclusive line of toys for the upcoming DreamWorks film "How to Train Your Dragon". As reported by the LA Times, the line, expected to launch March 1st 2010, will be available exclusively at Wal-Mart Stores Inc.

"Harold Chizick, a Spin Master spokesman, said the company was excited to offer a line of dragon-themed toys, saying he believed boys in particular would be drawn to the products."

"As the economy continues to recover, Chizick predicted toy manufacturers would become more innovative this year."

"I think the appetite for risk for many manufacturers will be a little higher than in 2009," he said.
The animated movie, about a boy named Hiccup who befriends a dragon named Toothless, will be in theaters March 26."

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original source LA Times

A recent feature in the Toronto Star looks at entrepreneur Amanda Slonim and her Junction shop Little Bird Fly. A children's store which sells a mix of new and gently used clothing, toys, books, strollers and maternity wear attracts customers as much for the products as for its on-site children's entertainment. By combining scheduled performances with a large and padded play area Slonim has created a neighborhood hub for parents and children.

"In July, Slonim opened Little Bird Fly � a shop in the Junction area near Dundas St. West and Keele St. that sells gently used children's clothing, toys, books, strollers and maternity wear as well as new handmade clothing and one-of-a-kind artwork."

"This is no ordinary shop. Walk by on a Wednesday morning and you might spot a performer doing magic tricks. Come in on Thursday and you'll see toddlers singing in a circle. In addition to selling items, the store runs on-site children's entertainment. When there is no scheduled programming, children who visit the shop are far from bored. There's a large play area, complete with toy trucks, strollers and stuffed animals. To protect little knees and elbows, the play area is carpeted with soft, brightly-coloured mats."

"Parents who come to shop are grateful for the play area that keeps children amused."

"So many parents have told me you can tell the store is run by a mom because of these helpful little things," says Slonim.

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original source Toronto Star

Toronto-based research and development organization, Ontario Centres of Excellence company, has officially signed a 1 year deal with OptoNet, a cluster of German business focused on optical technology. The Memorandum of Agreement between the two companies commits each organization to work together for the advancement of the photonics industry.

"This agreement has tremendous potential for the thriving Ontario photonics industry," said David Choat, OCE's Interim President and CEO. "With photonics playing an ever-increasing role in areas such as health care the future of the industry is promising."

"On behalf of Thuringia and OptoNet we are pleased to be part of this international collaboration with Ontario Centres of Excellence in this very exciting field," said Matthias Machnig, Minister of Economy, Labour and Technology, Free State of Thuringia. "There is no doubt that this collaboration will lead to new jobs and opportunities for both Thuringia and Ontario."

"Many experts believe that photonics will be to the 21st century what electronics were to the 20th," said John Milloy, Ontario's Minister of Research and Innovation. "Ontario is already recognized as a leader in the field, and our most talented researchers are ready to bring their work to the world stage. This agreement with Germany's Thuringia region will help Ontario companies tap into a global market estimated to grow to $800 million over the next two years."

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original source Benzinga

As reported by Broadcaster Magazine the recipients of the Canadian Women in Communications (CWC) 2010 awards were formally announced last week. The distinguished annual awards�the Woman of the Year and the Leadership Excellence Awards�are awarded to women who have shown leadership in the Canadian communications industry. Martha Fusca, CEO of Toronto-based Stornoway Communications and Torontonian Donna Whitney Director of Commercial Advanced Property Solutions for Rogers Communications Inc., are just two of the many Toronto leaders being recognized this year.

"CWC's Annual Awards�Woman of the Year and the Leadership Excellence Awards�acknowledge and celebrate the achievements and leadership of women in the Canadian communications industry. "

"By publicly recognizing outstanding women leaders with awards, CWC highlights the crucial role women play in the industry's success," explains CWC president, Stephanie MacKendrick. "Our 2010 Annual Award winners are exceptional role models who inspire all of us in the industry to achieve excellence."

"CWC will present the awards at its Annual Awards Gala on March 29, 2010, in Ottawa at the Fairmont Ch�teau Laurier. The Gala reception begins at 5 p.m. with the dinner and the awards presentation beginning at 6 p.m. The event provides an exclusive opportunity to network with over 400 prominent business, government and industry leaders."

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original story Broadcaster Magazine

University of Toronto student Vincent Cheung has been named 2010 Student Entrepreneur Ontario Champion by Advancing Canadian Entrepreneurship (ACE), for founding Shape Collage Inc "a software program that arranges hundreds of photos into custom shapes in seconds". According to the Toronto Star the software developed by Cheung's company has already been downloaded more than one million times since its launch last March.

"Cheung was recently named 2010 Student Entrepreneur Ontario Champion by Advancing Canadian Entrepreneurship (ACE), a national charitable organization. Canadian Imperial Bank of Commerce sponsors the national competition.The provincial competition is in March with nationals scheduled for May. The winner will represent Canada at the Global Student Entrepreneur Awards in November. Canada took top prize last year."

"ACE spokeswoman Jaime Szegvary said the award was created to support students with a unique business plan as well as provide them with access to a network of individuals with similar interests."A lot of these students, they really don't think of it as something they could be doing full time. It gives them the extra little push," she said."

"Cheung, a PhD candidate in computer engineering at the University of Toronto, came up with the concept late 2007. "I wanted to share my photos with my friends and family and didn't want to subject them to flipping through hundreds of images," he said."

"The solution was to design an algorithm that automatically ensures images are laid out in a visually pleasing fashion and arranged in a variety of shapes; examples include hearts and corporate logos. The program is compatible with Windows, Mac and Linux."

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original source Toronto Star

The Wall Street Journal reported last week on the booming Canadian housing market which has seen property value increase for the seventh month straight. While the future of the market remains unclear (there is fear we are in a bubble about to burst), the Journal does highlight the strengths of the political culture in Canada's largest cities that led the country to a housing recovery while the US market continues to drag.

"Last Wednesday, a housing-price index for Canada's six biggest cities posted its seventh straight monthly gain, showing home prices in November are now back to their prerecession peak. Another broader measure shows the average home price in 2009 hitting a record. Home building has picked up too, with housing starts in December jumping to their highest level since October 2008. Economists expect that growth to continue when January figures are released Monday.

Not everyone agrees that Canada's recent price increases are cause for concern. Bubble skeptics say they aren't yet seeing other symptoms of froth such as speculative buying, looser lending standards or a run-up in land prices. Canada's central bank and finance ministry say there isn't currently any reason for alarm. "

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original source Wall Street Journal

Toronto's Women's College Hospital and United Way Toronto have been recognized for their contributions in promoting diversity in the city. As reported by the Toronto Star, both organizations are receiving  "the diversity in governance" award--presented by Maytree Foundation and the Toronto City Summit Alliance--for their efforts "in creating inclusive boards, reflecting the people they serve".

" Thirty per cent of board members at Women's College Hospital and 39 per cent at United Way Toronto belong to ethnic and racial minorities. These numbers put both institutions well ahead of other organizations in the Greater Toronto Area."

"Diversity is a matter of fairness, of course. But studies show that diversity in leadership also contributes to better corporate performance and more creative thinking."

"We live in one of the most ethnically and racially diverse regions in the world, but you wouldn't know it by looking at our boardrooms, executive offices or the halls of government. And that failure to diversify at the top holds everyone back."

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original source the Toronto Star

CTV 's 22 hours-a-day Olympics coverage could mean good news for its Toronto affiliate, CFTO-TV if it can succeed in snagging viewers away from American networks. According to the Buffalo News, the station's accessibility to Western New Yorker's" via a strong antenna or via cable", combined with its extensive coverage makes it an appealing station for Olympic coverage.  

"Western New Yorkers get a Canadian television bonus during every Olympics. With the Winter Games in Vancouver starting tonight, the bonus is even more appealing even if it isn't in high definition. CTV, which has a Toronto affiliate, CFTO-TV, that comes in here via a strong antenna or via cable, is carrying 22 hours a day of the Games being held in its country."

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original source Buffalo News