Riz's IRAP Slides

50 %
50 %
Information about Riz's IRAP Slides
Business & Mgmt

Published on March 13, 2009

Author: dannyrobinson

Source: slideshare.net

Description

Riz presented this set of slides at VEF Momentum March 11th 2009.

Rizwan Kheraj – NRC-IRAP March 11, 2009 VEF Momentum

Rizwan Kheraj – NRC-IRAP

March 11, 2009

VEF Momentum

"This is another fine mess you've gotten me into!" From startupnorth.ca

"This is another fine mess you've gotten me into!"

Are you going through…… Customers slow to close, can’t close, can’t find, traffic not coming Investment scarce, low valuations, time’s a-wasting, being jerked around Team – smaller, morale not great, fewer pizzas F &F – “go get a real job!”

Are you going through……

Customers slow to close, can’t close, can’t find, traffic not coming

Investment scarce, low valuations, time’s a-wasting, being jerked around

Team – smaller, morale not great, fewer pizzas

F &F – “go get a real job!”

BUT…entrepreneurs shine in times of trouble A recession is the best time to start a company Total SMEs with potential for R&D ~107,000 B.C. led the nation with 86.7 Small Bizs per 1,000 people (2007) The objective is to distill the value of a company Best time to get great people at reasonable prices Also opportunities for companies to band together – share costs Government programs ready to help you build your technology and your company Your customers are looking for good deals and want to partner – so you can help them make money

BUT…entrepreneurs shine in times of trouble

A recession is the best time to start a company

Total SMEs with potential for R&D ~107,000

B.C. led the nation with 86.7 Small Bizs per 1,000 people (2007)

The objective is to distill the value of a company

Best time to get great people at reasonable prices

Also opportunities for companies to band together – share costs

Government programs ready to help you build your technology and your company

Your customers are looking for good deals and want to partner – so you can help them make money

Where’s the money to start? Use multiple sources! F & F – raise an internal round Get a corporate lawyer to help you be investable A customer as a development partner Align consulting with product/service idea Raising cash is a distraction from creating something to sell and convincing someone to buy – so do this! Get a credit line at low rates or low interest loans BDC ($350m injection in Jan), Credit Unions, Banks CYBF & CYBF– BDC start-up loan programs – 15K http://www.cybf.ca/entrepreneurs/cybfbdc.php

Where’s the money to start? Use multiple sources!

F & F – raise an internal round

Get a corporate lawyer to help you be investable

A customer as a development partner

Align consulting with product/service idea

Raising cash is a distraction from creating something to sell and convincing someone to buy – so do this!

Get a credit line at low rates or low interest loans

BDC ($350m injection in Jan), Credit Unions, Banks

CYBF & CYBF– BDC start-up loan programs – 15K http://www.cybf.ca/entrepreneurs/cybfbdc.php

Where’s the money to start? Government programs – get an operations person to fill forms and manage – don’t be lazy about this! IRAP – Youth Employment Program Details being put in place for April ~ May 2009 start For 2009-2010 & 2010-11 One time $30,000 over 12 months per Youth Post-graduate between 15 – 30 Canadian, LI; not on UI

Where’s the money to start?

Government programs – get an operations person to fill forms and manage – don’t be lazy about this!

IRAP – Youth Employment Program

Details being put in place for April ~ May 2009 start

For 2009-2010 & 2010-11

One time $30,000 over 12 months per Youth

Post-graduate between 15 – 30

Canadian, LI; not on UI

Where’s the money to start? IRAP – R&D program Supporting technology development Non-repayable contributions – not Grants! Effective April 09 for 2090-10, 2010-11 75% of eligible project costs S upport can be up to 100 % of technical salaries and 75% of contractor fees Amount dependent on factors such as scope, impact, innovation, jobs created, etc Also can support market assessments by ext. consultant

Where’s the money to start?

IRAP – R&D program

Supporting technology development

Non-repayable contributions – not Grants!

Effective April 09 for 2090-10, 2010-11

75% of eligible project costs

S upport can be up to 100 % of technical salaries and 75% of contractor fees

Amount dependent on factors such as scope, impact, innovation, jobs created, etc

Also can support market assessments by ext. consultant

Where’s the money to start? IRAP – Canadian Association of Management Consultants $150 leverages up to 5 working days of a consultant Services include: General business and financing advice Market feasibility assessment including market size Marketing and sales planning guidelines Business planning guidelines Human resource planning and advice Market entry recommendations Qualitative or directional Market research Operations and systems advice Coaching

Where’s the money to start?

IRAP – Canadian Association of Management Consultants

$150 leverages up to 5 working days of a consultant

Services include:

General business and financing advice

Market feasibility assessment including market size

Marketing and sales planning guidelines

Business planning guidelines

Human resource planning and advice

Market entry recommendations

Qualitative or directional Market research

Operations and systems advice

Coaching

Where’s the money to start? The paperwork is LESS than investor’s due diligence SR&ED – underutilized program – (get up to 40% back of eligible costs) - only 15K SMEs used it last year Canada New Media Fund (details coming) MITACS – Grad student for 4 months (7.5K matching) [some w IRAP] NSERC I2I – spinning out of University? Got an industrial partner – use this

Where’s the money to start?

The paperwork is LESS than investor’s due diligence

SR&ED – underutilized program – (get up to 40% back of eligible costs) - only 15K SMEs used it last year

Canada New Media Fund (details coming)

MITACS – Grad student for 4 months (7.5K matching) [some w IRAP]

NSERC I2I – spinning out of University? Got an industrial partner – use this

Myths about Government programs 1 "It's hard to get Govt funding - bureaucratic, paperwork, takes too long...." 2 "The Govt is not going to give someone as inexperienced as me this type of money" 3 "Applying for Govt programs distracts me from running my business " 4 “You have to wait a long time to get the check”

Myths about Government programs

1 "It's hard to get Govt funding - bureaucratic, paperwork, takes too long...."

2 "The Govt is not going to give someone as inexperienced as me this type of money"

3 "Applying for Govt programs distracts me from running my business "

4 “You have to wait a long time to get the check”

Leveraging Example – 5k -> 130K 1. You are 18-34, got a great idea – write a business plan – get the community & mentors to review 2. Go to CYBF (BDC?)– get a 15K loan 3. Put together technology development plan, put in few $K into your company from consulting work, start getting a few good people - sweat equity, and develop a POC 4. Go talk to IRAP and go through assessment process for a technology development project, get advice, use the $150 CAMC or library capability, etc – put in proposal for project if IRAP gives green light – lets say it’s a $120K project – you got 3 people working on it for a year to build your beta 5. At the same time you raise a F &F round of $25,000 6. Build the beta, do some targeted customer consulting, validate your technology & business model $ 0 15,000 20,000 (120,000) 90000 (30000) ~10,000 buffer

Leveraging Example – 5k -> 130K

1. You are 18-34, got a great idea – write a business plan – get the community & mentors to review

2. Go to CYBF (BDC?)– get a 15K loan

3. Put together technology development plan, put in few $K into your company from consulting work, start getting a few good people - sweat equity, and develop a POC

4. Go talk to IRAP and go through assessment process for a technology development project, get advice, use the $150 CAMC or library capability, etc – put in proposal for project if IRAP gives green light – lets say it’s a $120K project – you got 3 people working on it for a year to build your beta

5. At the same time you raise a F &F round of $25,000

6. Build the beta, do some targeted customer consulting, validate your technology & business model

$

0

15,000

20,000

(120,000)

90000

(30000)

~10,000

buffer

Takeaways If you don’t need to raise investment – don’t – bootstrap your business in creative ways first Get a friendly and very satisfied customer Leverage government programs – both funding and advisory services Manage your cash burn closely Persistence & tenacity will lead the way

Takeaways

If you don’t need to raise investment – don’t – bootstrap your business in creative ways first

Get a friendly and very satisfied customer

Leverage government programs – both funding and advisory services

Manage your cash burn closely

Persistence & tenacity will lead the way

Contact NRC-IRAP Pacific 604-666-6062 http://www.nrc.ca/irap

Contact

NRC-IRAP Pacific

604-666-6062

http://www.nrc.ca/irap

Add a comment

Related presentations

Related pages

Stimulus – Creating Cash Flow in a Recession – By Riz ...

Stimulus – Creating Cash Flow in a Recession – By Riz. Canada, Government, IRAP, Presentations, Riz. ... Riz's IRAP Slides. Share this: Reddit; Like this:
Read more

Irap | LinkedIn

View 855 Irap posts, presentations, experts, and more. Get the professional knowledge you need on LinkedIn.
Read more

Irap | LinkedIn

View 878 Irap posts, presentations, experts, and more. Get the professional knowledge you need on LinkedIn.
Read more

IRAP, Nov. 2012, RUMC, Case 6 - Documents

IRAP, Nov. 2012, RUMC, Case 6. - PowerPoint PPT Presentation
Read more

1206_Mi Primer Algoritm I I_RAP - Documents

Actividad 3. Algoritmo de una máquina de prepago de estacionamientos, parte 2 Recibir dinero del cliente. Pseudocódigo Objetivo: Hacer el diseño ...
Read more

IRAP & Its Partners - Documents - docslide.us

IRAP & Its Partners. Presented to the Association of Canadian Community Colleges. February 20, 2003 - PowerPoint PPT Presentation
Read more

CUADROS GDL, IRAP, LEON, QRO. - Documents

CUADROS GDL, IRAP, LEON, QRO. Mar 22, 2016 Documents ... Riz's IRAP Slides. Presentation gdl. Querétaro Qro., octubre 2009. Manifestaciones coloniales qro.
Read more

Picric Acid Test (Riz's Report) - Documents

Picric Acid Test (Riz's Report) by riz-omar. on Nov 29, 2014. Report Category: Documents
Read more