Proving a market for a startup befor scaling using the hypothesis-driven entrepreneurship process

The year is 2015 and the startup and tech business ecosphere has never seen more activity. In New York City alone, the tech startup industry is on track to amass $8 billion dollars in total funding – the highest in 7 years (CB Insights, 2015). According to the Kauffman Index of Entrepreneurship (2015), this figure represents just 20% of the total funding in the United States. Thanks to platforms that link entrepreneurs with investors, there are simply more funding opportunities than ever, and funding can be initiated in a variety of ways (angel investors, venture capital firms, crowdfunding). And yet, in spite of all this, according to Forbes Magazine (2015), nine of ten startups will fail. Because of the unpredictable nature of the modern tech industry, it is difficult to pinpoint exactly why 90% of startups fail – but the general consensus amongst top tech executives is that “startups make products that no one wants” (Fortune, 2014). In 2011, author Eric Ries wrote a book called The Lean Startup in attempts to solve this all-too-familiar problem. It was in this book where he developed the framework for The Hypothesis-Driven Entrepreneurship Process, an iterative process that aims at proving a market before actually launching a product. Ries discusses concepts such as the Minimum Variable Product, the smallest set of activities necessary to disprove a hypothesis (or business model characteristic). Ries encourages acting briefly and often: if you are to fail, then fail fast. In today’s fast-moving economy, an entrepreneur cannot afford to waste his own time, nor his customer’s time. The purpose of this thesis is to conduct an in-depth of analysis of Hypothesis-Driven Entrepreneurship Process, in order to test market viability of a reallife startup idea, ShowMeAround. This analysis will follow the scientific Lean Startup approach; for the purpose of developing a functional business model and business plan. The objective is to conclude with an investment-ready startup idea, backed by rigorous entrepreneurial study.

The role of crowdfunding in promoting entrepreneurship

Crowdfunding is a collaborative initiative, usually via internet, where people network to collectively raise funds in order to invest in and support projects delivered by other people or organizations. Tools such as crowdfunding are born and thrive in a grassroots environment, with a strong potential to positively disrupt the entrepreneurial generation setting and grow to a position of significant relevance in society, namely at a time when alternatives to traditional forms of finance are welcome and the technology to deliver them is abundant. Entrepreneurship is the act of transforming ideas and projects into economic products or services. Entrepreneurship related to starting new businesses is better known as start‐up ventures. Entrepreneurs face a series of challenges, from idea conception and business plan design, to obtaining finance, promoting new products and services, generating revenues and profits and generally growing and sustaining a business for the long‐run. These challenges can be overwhelming, namely in the start‐up phase of a new venture, leaving several ideas on paper without them having a chance to “grow legs and walk”. This paper and its analysis offer important insights about the contribution of crowdfunding to facilitate the attainment of critical factors for successful entrepreneurship. With extensive use of real practical examples, leveraging previous analytical studies of other crowdfunding implications and reviewing expert literature, by interviewing entrepreneurs, crowdfunding platform owners and by benefitting from hands on experience of working in such an organization, we intend to clarify the impact of crowdfunding in what we considered to be 7 key entrepreneurial requirements detailed further in the introduction section and later in the body of the paper. The findings have implications for entrepreneurs, naturally, and for business generation theory, extending current entrepreneurial guidelines with innovative tools and methodologies capable of sustaining successful ventures in a newly highlighted cooperative world. We live in innovative times where the channels for the transfer of funds and resources suffer disruptive changes with the potential to significantly improve the ability to generate new initiatives for the well‐being of entrepreneurs and all related communities.

Quantitative Centromere Epigenetics

A PhD is like a box of chocolates, …… and in this thesis I will present what I got. My work has been focused on a cellular structure that is essential for accurate genome inheritance: the centromere. Centromeres are chromosomal domains that do not rely on the presence of any specific DNA sequence. Rather, they are determined by the presence of a histone variant called CENP-A. Stable transmission of CENP-A containing chromatin is accomplished through 1) an unusually high level of protein stability, 2) selfdirected recruitment of nascent CENP-A near existing molecules, and 3) strict cell cycle regulation of assembly. Together, these features lead to a self-sustaining loop that allows for epigenetic maintenance of centromeres.(...)

Prenatal Representations of Family in Parents and Coparental Interactions as Predictors of Triadic Interactions During Infancy

In this study, we explored the predictive role of family interactions and family representations in mothers and fathers during pregnancy for postnatal motherfatherinfant interactions during the first 2 years after birth. Families (N = 42) were seen at the fifth month of pregnancy and at 3 and 18 months after birth. During pregnancy, parents were asked to play with their baby at the first meeting by using a doll in accordance with the procedure of the prenatal Lausanne Trilogue Play (LTP; A. Corboz-Warnery & E. Fivaz-Depeursinge, 2001; E. Fivaz-Depeursinge, F. Frascarolo-Moutinot, & A. Corboz-Warnery, 2010). Family representations were assessed by administering the Family System Test (T. Gehring, 1998). Marital satisfaction and the history of the couple were assessed through self-reported questionnaires. At 3 and 18 months, family interactions were assessed in the postnatal LTP. Infant temperament was assessed through parent reports. Results show that (a) prenatal interactions and child temperament are the most important predictors of family interactions and (b) paternal representations are predictive of family interactions at 3 months. These results show that observational assessment of nascent family interactions is possible during pregnancy, which would allow early screening of family maladjustment. The findings also highlight the necessity of taking into account paternal representations as a significant variable in the development of family interactions.

In Search of Corporate Renewal: How to Benefit from Corporate Venturing?

Despite the rapid change in today's business environment there are relatively few studies about corporate renewal. This study aims for its part at filling that research gap by studying the concepts of strategy, corporate renewal, innovation and corporate venturing. Its purpose is to enhance our understanding of how established companies operating in dynamic and global environment can benefit from their corporate venturing activities. The theoretical part approaches the research problem in corporate and venture levels. Firstly, it focuses on mapping the determinants of strategy and suggests using industry, location, resources, knowledge, structure and culture, market, technology and business model to assess the environment and using these determinants to optimize speed and magnitude of change.Secondly, it concludes that the choice of innovation strategy is dependent on the type and dimensions of innovation and suggests assessing market, technology, business model as well as novelty and complexity related to each of them for choosing an optimal context for developing innovations further. Thirdly, it directsattention on processes through which corporate renewal takes place. On corporate level these processes are identified as strategy formulation, strategy formation and strategy implementation. On the venture level the renewal processes are identified as learning, leveraging and nesting. The theoretical contribution of this study, the framework of strategic corporate venturing, joins corporate and venture level management issues together and concludes that strategy processes and linking processes are the mechanism through which continuous corporate renewaltakes place. The framework of strategic corporate venturing proposed by this study is a new way to illustrate the role of corporate venturing as a purposefullybuilt, different view of a company's business environment. The empirical part extended the framework by enhancing our understanding of the link between corporate renewal and corporate venturing in its real life environment in three Finnish companies: Metso, Nokia and TeliaSonera. Characterizing companies' environmentwith the determinants of strategy identified in this study provided a structured way to analyze their competitive position and renewal challenges that they arefacing. More importantly the case studies confirmed that a link between corporate renewal and corporate venturing exists and found out that the link is not as straight forward as indicated by the theory. Furthermore, the case studies enhanced the framework by indicating a sequence according to which the processes work. Firstly, the induced strategy processes strategy formulation and strategy implementation set the scene for corporate venturing context and management processes and leave strategy formation for the venture. Only after that can strategies formed by ventures come back to the corporate level - and if found viable in the corporate level be formalized through formulation and implementation. With the help of the framework of strategic corporate venturing the link between corporaterenewal and corporate venturing can be found and managed. The suggested response to the continuous need for change is continuous renewal i.e. institutionalizing corporate renewal in the strategy processes of the company. As far as benefiting from venturing is concerned the answer lies in deliberately managing venturing in a context different to the mainstream businesses and establishing efficientlinking processes to exploit the renewal potential of individual ventures.

Application of Open Innovation Paradigm in Small and Medium Enterprises in Russia

The objective of this study is to explore how the Open Innovation paradigm is applied in by small and medium-size enterprises in Russia. The focus of the study is to understand how the processes of research and development and commercialization proceed in these kind of companies and to which extent they apply open innovation principles. Russian leadership makes certain steps for transition from the export of raw materials to an innovative model of economic growth. The research aims to disclose actual impact of these attempts. The closed innovation model and the erosion factors which lead to the destruction of an old one and emergence of new model are described. Features of open innovation implementation and intellectual property rights protection in small and medium enterprises are presented. To achieve the objective, a qualitative case study approach was chosen. Research includes facts and figures, views and opinions of management of studied companies related to innovation process in the company and in Russia in general. The research depicts the features of Open Innovation implementation by SMEs in Russia. A large number of research centers with necessary equipment and qualified personnel allow case companies to use external R&D effectively. They cooperate actively with research institutes, universities and laboratories. Thus, they apply inbound Open Innovation. On the contrary, lack of venture capital, low demand for technologies within the domestic market and weak protection of intellectual property limit the external paths to new markets. Licensing-out and creation of spin-off are isolated cases. Therefore, outbound Open Innovation is not a regular practice.

Customer involvement in lean startup principles: case of game development studio

The objective of this thesis is to better understand customer’s role in lean startup methodology. The aim is to find out how customers are involved in lean startup methodology implantation and increase the likelihood of new venture survival. This study emphasizes the usage of customers in shaping of new product development processes within companies, through iteration and constant communication. This communication facilitates the development of features that are requested by the customers and enhances the prospects of the new venture. The empirical part of the study is a single qualitative case study that uses action research to implement the lean startup methodology into a pre-revenue venture and examines its customer involvement processes. The studied case company is Karaoke d.o.o., developing a game called kParty. The study used the theory discussed in the literature review: customer involvement (in the survey and interviews conducted for the lean startup methodology), lean principles (through the implementation of lean startup methodology) and lean startup methodology, which are the central building parts of this thesis as a whole. The thesis contributes to the understanding of customer involvement in lean startup methodology, while giving practical implications of customer orientation and product market fitting.

Identifying the psychosexual implications of radical radiation treatment in prostate cancer

The purpose of this study was to determine whether there was any evidence of psychosexual morbidity among men who experienced radical radiation treatment for prostate cancer. With relatively little known or available retrospective data on the psychosexual implications of radical radiation treatment in men with prostate cancer, this study posited eight research questions which provided the basis for the research. Fifty men from Southern Ontario, between the ages of 52 to 78 years, were included in the study. They had been previously randomized to a clinical trial comparing radical radiation therapy by external beam radiation, or radical radiation using a combination of a temporary iridium implant plus external beam radiation, for localized or locally advanced prostate cancer. Assessment of sexual functioning, drive, attitudes, body image, and sexual satisfaction was drawn from a multidimensional approach, since psychosexuality was viewed as having an impact on biological, psychological, and sociological domains of functioning. Medical chart reviews, semi-structured interviews, demographical profiles of each participant, and the Derogatis Sexual Functioning Inventory (DSFI) were the methods used to collect data over a four-month period. Both quantitative and qualitative research methods were incorporated in the design and evaluation of the study. Frequencies, contingency analysis, Pearson's coefficient of correlation, t-tests, and ANOVA comprised the quantitative analysis. Data obtained from audio-taped interviews were analyzed qualitatively, and used for offering further insight and for facilitating the quantitative aspect of the analysis. Overall, there was sufficient evidence to suggest psychosexual morbidity among men who were treated with radiation therapy for prostate cancer. As well,there were a number of significant findings available to answer all of the posited research questions. The most significant findings were noted in post-treatment erectile ability and sexual activity. A post-treatment change in erectile ability was reported by eighty percent of men. Sixty percent of men noted a decrease in their ability to achieve an erection by reporting some morning stiffness only, penile rigidity insufficient for penetration, decreased control of erection, and loss of spontaneous erection. Other contributing factors associated with change in erectile status were: pain or altering sensation of orgasm, blood in ejaculate, pain and decreased amount of ejaculate, and penile numbness or pain. Eighty-two percent of men experienced a post-treatment change in sexual function, primarily due to the impact of decreasing erectile status. Only seven men reported that they experienced a decrease in desire mentally, whereas the vast majority did not experience any change in desire. Changes in foreplay, stress with optimal sexual positioning, and reduced spontaneity of sex, were other factors reported with the changes in sexual activity. The findings in this study broaden our understanding of what middle- to later-aged men feel and experience as they venture onward following treatment. This was the first study that evaluated available prospective data on pre-treatment erectile status and sexual activity. As well, this study was the first (with participant compliance rates of 100 percent) to have included an interview format to capture the views of such a large number of men. This study concluded with recommendations and implications for future research and practice as we move in the direction of understanding what is necessary for preserving psychosexual well being and enhancing quality of life in men treated with radiation therapy for prostate cancer.

Self-directedness, personality type and success in self- employment

The new economy has spirited a transformation ofwork organizations from big business structures into smaller, more flexible enterprises, many of which are launched as self-employment initiatives. The growing trend towards increasing selfemployment in Canada demands aeritical review of how educational programs support and encourage entrepreneurship and self-employment opportunities for students ofpost-secondary and adult training programs. The focus ofthis study was threefold. First, the study examined whether a relationship exists between self-directedness and success in self-employment. Secondly, the purpose of this research was to determine whether a relationship exists between psychological type as defined by Jung and success in selfemployment. Finally, this research effort attempted to develop a model for identifying individual potential for self-employment based on combined factors of self-directedness and psychological type. Success was measured in three stages: 1) Did the subject start a selfemployment initiative? 2) Did the business survive six months? 3) Did the business survive one year? The research went beyond classroom training activities to determine whether individuals actually started a business enterprise while participating ina self-employment program designed for individuals who were unemployed. Given that many people initiate a self-employment venture.without actually operating the business beyond the initial start-up, this research effort measured success based on a commitment of at least one year to the selfemployment initiative. Results ofthe study revealed that individuals with a high level of selfdirected learning readiness tended to be more likely to succeed in business in terms ofbusiness starts, survival for six months, and survival for one year. In addition, it was discovered that individuals who were extraverted intuitive types succeeded more often in business at all three levels than any other type. These findings supported a model using the SDLRS and the PET Type Check as predictors for success in entrepreneurial ventures.

City of the Falls clippings, 1833, n.d.

The clippings describe the City of the Falls and its attempts by its shareholders to sell lots to this newly developing city. The venture by shareholders W. Allan, James Buchanan, Thomas Clark, J.H. Dunn, Thomas Dixon, General Murray, James Robinson, Samuel Street and William Witla intended to favourably position their city as a destination for “affording an easy approach for the annual assemblage of the Fashionable, the Learned and the Great”. The venture failed due to the building of the Buffalo and Niagara Falls railway.

John W. Fisher Fonds, 1937-1961, 1964-1989, 1993, n.d.

Norah and Fred Fisher welcomed John Fisher into the world on November 29, 1912, not knowing what an influential role he would play in shaping Canada's history. John Fisher grew up as the middle child of five brothers and sisters in Frosty Hollow, New Brunswick, close to today’s town of Sackville. Sackville’s main industry was the Enterprise Foundry which the Fisher family owned and operated; however, Fisher had no plans of going into the family business. He was more inspired by his maternal grandfather, Dr. Cecil Wiggins, who lived with the family after retiring from the Anglican ministry. Wiggins encouraged all his grandchildren to be well read and to take part in discussions on current events. There were often visitors in the Fisher household taking part in discussions about politics, religion, and daily life. Fisher forced himself to take part in these conversations to help overcome his shyness in social settings. These conversations did help with his shyness and also in forming many opinions and observations about Canada. It put Fisher on the road to becoming Mr. Canada and delivering the many eloquent speeches for which he was known. Fisher did not venture far from home to complete his first degree. In 1934 he graduated from Mount Allison University in Sackville, NB with an Arts degree. The same year Fisher enrolled in Dalhousie’s law school. During his time at Dalhousie, Fisher discovered radio through Hugh Mills. Mills or “Uncle Mel” was on CHNS, Halifax’s only radio station at the time. Fisher began by making appearences on the radio drama show. By 1941 he had begun writing and broadcasting his own works and joined the staff as an announcer and continuity writer. In 1936 the Canadian Broadcasting Corporation was formed, the first National radio station. Fisher joined the CBC shortly after it’s beginning and remained with them, as well as the Halifax Herald newspaper, even after his law school graduation in 1937. By 1943 Fisher’s talks became a part of the CBC’s programming for a group of maritime radio stations. Fisher once described his talks as follows “my talks weren’t meant to be objective. . . they were meant to be favourable. They were ‘pride builders’” He began his famed John Fisher Reports at CBC Toronto when he transfered there shortly after the war. This program brought emmence pride to the fellow Canadians he spoke about leading to approximately 3500 requests per year to speak at banquets and meeting throughout Canada and the United States. Fisher was a well travelled indivdual who would draw on personal experiences to connect with his audience. His stories were told in simple, straight forward language for anyone to enjoy. He became a smooth, dynamic and passionate speaker who sold Canada to Canadians. He became a renowned journalist, folk historian, writer and broadcaster. Fisher was able to reach a vast array of people through his radio work and build Canadian pride, but he did not stop there. Other ways Fisher has contributed to Canada and the Canadian people include: Honoured by five Canadian Universities. 1956, became the Director of the Canadian Tourist Association. 1961, was appointed Special Assistant to the Prime Minister of Canada. 1963, Commissioner of the Centennial Commission (the Federal Agency Responsible for Canada’s 100th birthday) 1968, received the Service Medal , a coveted Order of Canada. President of John Fisher Enterprises Ltd., private consultant work, specializing in Centennial planning, broadcasts, lectures and promotion. John Fisher continued recording radio broadcasts even after his diagnosis with cancer. He would record 3 or 4 at a time so he was free to travel across Canada, the U.S., Europe and Mexico in search of treatments. Fisher passed away from the disease on February 15, 1981 and he is buried at Mount Pleasant Cemetery in Toronto.

Burgoyne Centre for Entrepreneurship fonds

An Entrepreneurship Centre was established at Brock University in 1988 as a joint venture between the University and the City of St. Catharines. In Januaray 1989, a generous donation was made to the Centre by the Burgoyne family, proprietors of the St. Catharines Standard. The Centre subsequently became known as the Burgoyne Centre for Entrepreneurship (BCE). The Centre’s mission was to “promote excellence in research, education and training for entrepreneur development and new venture creation”. To achieve this objective, it was necessary for the BCE to become a community focal point and serve as a link between academic, private and government sectors in the Niagara Region that were involved in entrepreneurial activities. This was primarily done with the provision of educational programs offered through cooperating organizations. Funding for the Centre came from multiple sources, including fees for services and contract research, endowments and grants, as well as Brock University. An Advisory Council, composed of local prominent businesspeople and chaired by Henry Burgoyne, assisted the Centre with promotion and fundraising. The partnerships established by the BCE with other community bodies such as the Lincoln County Board of Education and the Niagara Region Development Corporation resulted in important collaborative community initiatives such as the Niagara Enterprise Agency and the New Enterprise Store. Such collaborations increased the Centre’s profile without duplicating or competing with services offered by existing agencies. The BCE was also instrumental in establishing an entrepreneurship curriculum for secondary school students, and collaborated with the Faculty of Education at Brock University to offer an Ontario Secondary School Entrepreneurship Specialist Teaching Certificate Program to teachers. As the BCE became more prolific in the community, and the iniatives it fostered in the community began to thrive, the Centre’s leadership required the authority to make instantaneous decisions. This was at odds with the hierarchical structure of the University, to which the BCE was accountable. Ultimately, this situation led to the demise of the Centre. The university focused its efforts on academic research and undergraduate courses, while the community partners took responsibility for any joint programs.

Inniskillin fonds, 1970-2014, n.d.

Inniskillin Wines was founded by Karl Kaiser and Donald Ziraldo in 1975 in Niagara-on-the-Lake, Ontario. They had met the previous year, when Karl Kaiser, a winemaker and chemist, purchased some grapes from Donald Ziraldo, who owned and operated Ziraldo Nurseries. The two shared a vision of producing better quality Canadian wines and formed a partnership, with Kaiser making the wine and Ziraldo serving as company President. In 1975, they were granted a winery license by the LCBO, the first one granted since 1929. The company name Inniskillin was derived from the Inniskilling Fusilliers, an Irish regiment whose Colonel once owned the land that Ziraldo Nurseries occupied. This was the original site of the winery, although in 1978 the winery moved to the Brae Burn Estate, their current location. In 1982 the winery expanded by 50 acres with the addition of the Montague Vineyard, and another 50 acres was acquired in 1991. The Niagara-on-the-Lake vineyard produces single vineyards bottlings of Chardonnay, Pinot Noir, Merlot and Pinot Grigio/Pinot Gris. In 1984, Karl Kaiser began producing icewine from Vidal grapes frozen naturally on the vine. Inniskillin garnered international acclaim for the quality of their icewines, receiving the prestigious Grand Prix d’Honneur at VinExpo in 1991, for their 1989 Vidal icewine. This established Inniskillin as a producer of world class wines, while also raising the profile of Canadian wines in general. The company branched out their operations, first acquiring vineyards in the Napa Valley in 1989 to form Inniskillin Napa (producing wines under the Terra label), and in 1994 establishing Inniskillin Okanagan in the Okanagan Valley in British Columbia. The Napa valley venture ceased in the mid 90’s, while Inniskillin Okanagan continues to operate. In 2006, Karl Kaiser and Donald Ziraldo left Inniskillin. Kaiser retired, while Ziraldo became chair of the Vineland Research and Innovation Center (2006-2011), and remains involved in the wine industry. In 2007, Bruce Nicholson joined Inniskillin as winemaker. Nicholson continues to produce award-winning wines under the Inniskillin label, receiving the top award, the Premio Speciale Gran Award, at Vinitaly 2009 for his 2006 Gold Vidal and his 2006 Sparkling Vidal Icewine. In 2012, he received several awards for the 2008 Riesling Icewine, including gold at the International Wine and Spirits Competition in London, UK, the San Francisco International Wine Championships, and Selections Mondials des Vins Canada.

Alliánce Media Release - June 6, 1995

A media release from Inniskillin Wines announcing the launch of "Alliánce", a joint winemaking venture between Inniskillin and Jaffelin Wines of France.

Thorold Tunnel opening ceremony photographs, September 18,1968.

Construction on the Thorold tunnel began in 1965 and was completed in 1967. It was designed by H. G. Acres & Company Ltd. and built by Pitts-Atlas, a joint venture of C.A. Pitts, General Contractor Ltd., and Atlas Construction Company Ltd. The tunnel replaced two lift bridges (Bridge 9 at Ontario Paper Co. and Bridge 7) that carried traffic over the Welland Canal. The majority of the construction occurred during the winter months, when the canal was closed to shipping. The water was drained and concrete sections shaped liked tubes were poured, creating the tunnel. During the summer months, the end sections of the tunnel were constructed so that shipping could continue uninterrupted. The 24 million dollar project was financed jointly by the Department of Highways and the St. Lawrence Seaway Authority. The tunnel was officially opened on September 18, 1968.