In a world where it might seem like entrepreneurs are popping up from every corner, the reality is quite different, especially in Canada. Despite the pandemic prompting many to reconsider their entrepreneurial dreams and bootstrap their ventures, recent data paints a concerning picture. Late last year, the Business Development Bank of Canada (BDC) released a report revealing that there are 100,000 fewer entrepreneurs in Canada today compared to 20 years ago. For those invested in the future of our country, this decline should ring alarm bells.
Opportunity:
But amidst the gloomy statistics, there’s a glimmer of hope on the horizon, and it comes in the form of an entrepreneurial dream team: Simple Ventures. Imagine assembling the Avengers of the business world, where renowned Canadian entrepreneurs like Michael Katchen (Wealthsimple), Joanna Griffiths (Knix), Harley Finkelstein (Shopify), and Mike Murchison (Ada) join forces under one banner. That’s precisely what Simple Ventures aims to achieve.
Their mission? A rallying call for Canada: “Request For Canada.” It’s about bridging the gap between Canadians and the innovative products and services available elsewhere. As the CEO of Simple Ventures puts it, “Canada’s complexity, regulatory hurdles, and market size often lead companies to bypass the country, leaving Canadians without access to a host of products and services. We want to build home-grown businesses to fill that void.”
Secret Sauce:
At the heart of Simple Ventures’ operation lies a unique approach. Unlike traditional investment firms, Simple Ventures doesn’t just wait for entrepreneurs to come knocking; they actively seek out promising product ideas. Once identified, they embark on a journey of development and testing to gauge market viability. Only then do they seek out founders to partner with and nurture these budding businesses.
Simple Ventures isn’t just another venture studio—it’s pioneering a new operating model in Canada. They take an ownership stake in each portfolio company but ensure that the economics are structured to benefit investors, founders, and the studio alike. Currently, they’re incubating ventures in wellness, digital health, vertical SaaS, and locally sourced food. Their flagship venture, Alma Care, is a postnatal care retreat designed to support new mothers and families, with several more startups in the pipeline.
Key Takeaways:
- Have a groundbreaking idea? You can submit it directly on Simple Ventures’ website.
- Venture studios like Simple Ventures offer a promising path for entrepreneurs, though it’s not without its challenges.
