Leslieville - The Beach : Innovation + Job News

Technology news site Techvibes has just unveiled the finalists for 2012's Canadian Startup Awards with Toronto startups snagging more spots than any other city. 

The finalists this year were selected from "well over 1,200 nominees," writes Techvibes president Rob Lewis in a blog post announcing the shortlist. It's a list, happily, that features many Toronto startups, and includes several you might have learned about here on Yonge Street.

Among them are photo sharing site 500px, which has seen exponential growth in its staff over the past year, and also made its first acquisition, Algo Anywhere, in 2012; Wave, which makes cloud-based apps for small businesses; and data sharing platform Hubba, which helps retailers and brands tell their stories more effectively.

Techvibes introduced the awards, in conjunction with consulting firm KPMG, just last year. Toronto-based e-reading company Wattpad won that inaugural award, after more than 11,000 votes were cast.

You have until midnight on Friday, January 25 to cast your ballot.

Writer: Hamutal Dotan
Source: Techvibes

It was only a few weeks ago that we told you about BufferBox, a new network of parcel pick-up stations had just launched in the Toronto area. With a growing list of stations—they're up to about 14 in Toronto and Mississauga and have more going in by the end of the year—and a contract with Metrolinx to help target commuters, things seemed promising for the new startup.

And now, they are looking even more exciting. BufferBox has just announced it has been acquired by Google. Neither BufferBox nor Google would confirm the financial details, but TechCrunch is reporting the purchase price was in the neighbourhood of $17 million.

BufferBox services are free until year's end. When paid service begins they expect they'll be charging $3 or $4 per delivery. The goal is to have approximately 100 stations in the GTA by the end of 2013. Google, meanwhile, is likely looking for a challenger the Amazon Locker parcel delivery program (which is not available in Canada), and is hoping that BufferBox can expand and scale quickly.

Writer: Hamutal Dotan
Source: Brad Moggach, Sales & Marketing Director, BufferBox; TechCrunch

"While nearly all high growth technology startups have historically emerged from no more than 3-4 startup ecosystems, namely Silicon Valley and Boston, this trend appears to have reached its end. Simultaneous with a global explosion of entrepreneurship has been an explosion in the rise of new startup ecosystems around the world, and a newfound maturity in others."

So begins a new report from the Startup Genome called the Startup Ecosystem Report (available for free online, though registration is required). And among those ecosystems that are currently flourishing: Toronto, which ranks the highest in Canada on the report's index, and eighth in the world. (Vancouver is right behind us in ninth; more surprisingly Waterloo is further behind, at sixteenth.)

All cities in the index are compared to Silicon Valley (which predictably is the benchmark first-place ecoysystem) across a variety of metrics. While we are similar to Silicon Valley in terms of our level of ambition, our technology adoption rates, our sector mix and mentorship support, one key area of difference, according to the report, is that "startups in Toronto receive 71% less funding than SV startups. The capital deficiency exists both before and after product market fit."

While that may sound like grim news, it actually provides a very useful roadmap for future growth. The report goes on to conclude that the current under-investment in Toronto-area startups "presents a large opportunity for investors. Moreover, "policy makers can help closing the funding gap by attracting late-stage venture funds through tax breaks and incentives, and investor-friendly policies."

Writer: Hamutal Dotan
Source: Startup Ecosystem Report

Every so often—and especially at this time of year, when many of us are ordering presents and holiday gear—you come home to one of those annoying notices flapping on your door. Missed delivery.

To help shoppers (and the businesses trying to send them their goods) avoid that frustration, a new network of parcel pick-up stations has just launched in the GTA called BufferBox. There will be eight stations in Toronto by the end of this week, with several more elsewhere in the region. Another 10 are expected by year's end, with the goal of expanding nationwide.

To use the service, someone signs up with BufferBox and selects a home location—one of the pick-up stations that have been installed—and then provides that address to a company when ordering items for delivery. When the parcel arrives, BufferBox puts the package in a locker within the station, and then sends you an email with single-use PIN, which you use to open the box and retrieve your item.

The initial set of locations is geared to commuters and transit users: in its first partnership, BufferBox is working with Metrolinx and has installed parcel boxes in five GO stations (Union, Clarkson, Burlington, Oakville, and Port Credit). Three other parcel stations are in 7-Eleven locations, and in the near future, BufferBox also hopes to announce a supermarket partner.

Writer: Hamutal Dotan
Source: Brad Moggach, Sales & Marketing Director, BufferBox

Allyson Amster says that she and the other five co-founders of Bike Sauce all have experience working at DIY bike repair shops elsewhere in the city, and when they decided to open a new one in the east end, they came to a realization: the gearhead environment could be a drawback.

"We recognized that it could be intimidating to a lot of people who wanted to be involved in cycling, and in building the city through cycling advocacy," Amster says. So they hit on the idea of combining the repair shop with a social space and an advocacy approach -- a space she says will be "stacked with cycling literature" alongside wrenches and spokes.

The new organization at 717 Queen Street East -- at the corner of Broadview Avenue -- is set to open April 17, but will host a fundraising party featuring local bands and "Bike Jazz with dancers" on April 9. The fundraising component is important, since Bike Sauce is, for now, a non-profit organization entirely run by volunteer labour.

Amster says the six co-founders personally provided seed money to launch the organization, and have attracted a dedicated crew of 20-30 volunteers so far. The business model, she explains, depends on revenue from the sale of refurbished bikes -- which Amster says is already booming even prior to the opening -- plus sales of bike parts in the shop and donations, which are also already strong.

The fundraiser takes place Friday, April 9 at 9pm, at Blue Moon, 725 Queen Street East. Admission is on a $5-$10 sliding scale.

Author: Edward Keenan
Source: Allyson Amster, Co-founding Director, Bike Sauce

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