2024 ANNUAL REPORT
1. LETTER FROM THE EXECUTIVE DIRECTOR
Living up to our name, the Institute continues to take an entrepreneurial approach to developing the talent that Alberta needs. After 12 years, we embrace the creation of new programs, continuously improve existing ones and seek new funding to execute our mission. An entrepreneurial approach is necessary when everything the Institute does is accomplished through the generous support of donors and granting organizations rather than core MRU funding.
Our Student Programs offer Alberta’s most comprehensive undergraduate entrepreneurship programs, grounded in the belief that transformational experiences often occur outside the classroom. Our programs provide paid opportunities for students across campus to engage in innovation and entrepreneurship while building valuable networks, skillsets, and mindsets, which are essential whether they start or join a growing company.
We built our stellar reputation by providing students from across campus with opportunities to ideate and launch a business. Whether they succeed or fail, they learn essential skills like perseverance, resilience and value creation. The program culminates annually in the $70,000 JMH LaunchPitch Pitch Competition, where students pitch to an audience of over 300. They never disappoint! MRU students have been named the Calgary EO Student Entrepreneur of the Year in 6 out of 7 years.
Our Student Programs go far beyond just starting a business. We support students who want to innovate on a problem within an existing startup, want to solve complex problems in society or discover how to use technology to solve a health problem. Thanks to $454,000 in new funding from Prairies Canada and the John Dobson Foundation, we launched the first-of-its-kind Tech Liftoff program. This new initiative aims to bridge the talent gap in Calgary’s burgeoning technology sector by nurturing the next generation of technology founders and innovators.
In total, we engaged with over 1300 students across all our programs and provided nearly $300,000 in paid workintegrated learning experiences.
The Institute’s Scaleup and Growth Programs, led by Peter Fenwick, delivered a profound impact on 43 companies and 171 business leaders in Alberta. The flagship Growth Catalyst program is an intensive 7-month transformational experience for leadership teams of Alberta small and medium businesses. These companies are now positioned to scale their business and contribute to the growth of the Alberta economy. Companies grew 20% within the first year of starting the program, overdelivering on the economic development goals of our funders. This was accomplished while providing 82 students with work-integrated learning experiences, including $127,000 in paid experiences. The MRU brand was elevated by exposing over 900 Alberta’s business leaders to our world-class professional programming.
Finally, the Institute’s Growth Compass research initiative continues to engage faculty and the community and publish thought leadership in small and medium business growth. Led by Dr. Simon Raby, Growth Compass provides the foundational evidence base for our Scaleup and Growth Programs. Dr. Raby also spearheaded the launch of a remarkable ScaleUP Week, complete with a prestigious Awards Gala. This innovative program expanded our community reach by 800 within the Western Canadian business community.
Our team is grateful to be able to flex our innovative and entrepreneurial muscles and have a transformational impact on the students and community we support.
Ray DePaul, Executive Director
2. MISSION
The Institute’s mission is to provide transformational learning experiences that develop the innovative and entrepreneurial talent that Alberta needs.
Created in 2012, the Institute is completely donor and grant-funded and delivers impact through three interrelated initiatives: Student Programs, Research Programs, and ScaleUp and Growth Programs.
Achieving our mission would not be possible without the generous donations by David and Leslie Bissett, the RBC Foundation, TD Bank, Cathy and Bruce Williams, JMH & Co, connectFirst Credit Union, the John Dobson Foundation, and MRU alumni. Grant support is greatly appreciated by Alberta Innovates, Prairies Economic Development Canada, and the Calgary Innovation Coalition.
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$297,355 1805 69 8079
$889,700
Companies Engaged
Students Engaged
Community Engaged
Hours of Coaching
Paid Student Work Integrated Learning
Funds Raised
3. STUDENT PROGRAMS
From the Associate Director
LaunchPad Student Programs had its most impactful year to date, continuing to build on our goal of becoming Western Canada’s leading innovation and entrepreneurship student talent development program. This year we provided over 1300 hours of personalized mentoring and over $169,000 in stipends in support of MRU students pursuing what it means to have a truly innovative career through meaningful career experience in the Innovation Sprint, change the world through social entrepreneurship in connectFirst Social Entrepreneurs, or bring the next great tech product to market in our brand-new program, Tech LiftOff.
Supported by the John Dobson Foundation and Prairies Canada, Tech LiftOff leverages the success of our flagship LaunchPad program to support 18 computing and business students to ideate and build technology products customers actually use. Building on our recent success with the HealthTech Challenge, supported by Alberta Innovates, and studentled ventures like MRU Hacks, a new student-led hackathon, we continue to excel at combining cross-disciplinary talent from across faculties. Truly transformational learning occurs when students step out of their comfort zones to collaborate in diverse teams across faculties and skill sets, allowing them to solve problems they have never considered and develop the transversal skills they require to be successful in an increasingly complex world.
The JMH LaunchPad Pitch Competition, Alberta’s largest student pitch competition, returned this year with a stage of 8 students presenting ideas ranging from agricultural drone technology to AI-enabled technical talent screening and adaptive fishing rods. Supported by JMH & Co. for an exceptional 12th year, connectFirst Credit Union, and new supporter Catch Digital, students received a share of $70,000 in cash and in-kind prizes to support them in growing their new ventures.
The LaunchPad team is proud to have supported over 1255 students this year, providing over $169,000 in stipends and work-integrated learning opportunities directly to students, alongside opportunities to engage with over 100 alumni and 120 community supporters. Our community of highly engaged students is also richly diverse, including representation from 57% BIPOC students, 44% women, and 12% members of the 2SLGBTQIA+ community. We look forward to continuing to offer Western Canada’s most comprehensive and supportive suite of programming and mentorship support to build the talent that Canada needs.
Diana Grant-Richmond, Associate Director, LaunchPad Student Programs
3.1 DELIVERING ENTREPRENEURIAL EXPERIENCES
3.1.1 JMH LaunchPad Pitch Competition
Once again, Alberta’s largest student pitch competition, the JMH LaunchPad Pitch Competition, brought together Mount Royal student innovators in a dynamic showcase of entrepreneurial talent. This year, the spotlight shone on eight exceptional and diverse entrepreneurs, reflecting a wide range of businesses, from drone solutions to an AI-powered technical interview tool.
With a diverse audience of over 300 attendees, including students, alumni, and community members,
PITCH PARTICIPANTS
Charter Beselt – AVIS Drone Solutions . Third Year, Bachelor of Business Administration, Marketing
AVIS Drone Solutions saves farmers time and money through efficient drone mapping. The result is an efficient solution to issues farmers face every year.
$10,000 JMH & Co. Award, $5,000 LaunchPad Alumni Award, $15,000 Catch Digital Award.
Emma Ghiultu – Adapted Bachelor of Health and Physical Education, Physical Literacy
Adapted designs and produces fishing rods with accessibility features, reducing barriers for those with limited upper body mobility to participate in outdoor activities.
$10,000 connectFirst Credit Union Social Impact Award
the event presented seven unique ventures, all competing for a share of $70,000 in prizes. The judging panel, comprised of alumni Brad Williamson, Elissa Grohne, and Jason Zeiler, and the Director of Growth at MyNormative, Allison Swelin, offered valuable insights to the participants. Preparation for LaunchPad is no small feat, requiring months of hard work, mentorship, and collaboration. Participants refine their ideas and pitches over many months and often years, to build strong customerfocused businesses. Beyond the financial rewards, LaunchPad
G Grewal – UNIFIED
Recent Alumni, Bachelor of Business Administration, Finance
UNIFIED streamlines document management for construction and infrastructure industries through automation, ensuring regulatory compliance and minimizing administrative burdens.
Jasmail Duck & Mehtaab Gill –Nextprep
Recent Alumni, Bachelor of Computer Information Systems and Fourth Year Bachelor of Computer Information Systems
Nextprep is a platform that allows recruiters to evaluate candidates’ technical skills without the need to learn technical lingo.
$10,000 JMH & Co. Award
Jordan Piraux – Emotional Response Fourth Year, Bachelor of Business Administration, Marketing
provides a supportive network of mentors and industry connections, helping entrepreneurs navigate the challenges of starting a business long past the competition.
As LaunchPad continues to evolve, it remains a platform for aspiring entrepreneurs to showcase their ideas, make their mark on the world of business, and launch exceptional careers.
Emotional Response’s mission is to empower healthy emotional communication between parents and children with an interactive set of tools.
Mike Chen – MK Studio Third Year, Bachelor of Nursing
MK Studio is a leader in Canadian industrial plastic manufacturing utilizing sustainable, high-quality, and affordable 3D printing.
$10,000 JMH & Co. Award
Reese Finlay – 88 Degree Tuning Third Year, Bachelor of Business Administration, Marketing
88 Degree Tuning offers mobile ski and snowboard maintenance, directly bringing waxing and tuning services to your doorstep. 88 Degrees Tuning aims to expand across Canada, ensuring every city can access convenient, top-notch gear care.
$10,000 JMH & Co. Award
JMH LAUNCHPAD PITCH COMPETITION DONORS
The LaunchPad Program would not be possible without the enthusiasm and generosity of our fantastic donors. JMH & Co., connectFirst Credit Union, Catch Digital, and our alumni donors are all critical to creating the LaunchPad experience and its impacts.
JMH & Co. is a regional accounting firm with offices in Calgary, Brooks, and Medicine Hat who have an oversized impact on their communities. Each year at the JMH
LaunchPad Pitch Competition, the Institute has the honour of giving away $40,000 in JMH & Co. awards to Mount Royal founders.
Catch Digital, founded by LaunchPad Alumni Brad Williamson is a digital marketing agency specializing in growth marketing. Catch joins us this year to provide $15,000 of in-kind professional growth marketing services to the JMH LaunchPad Pitch Competition.
connectFirst Credit Union is one of Canada’s largest and most successful credit unions, focused on serving Central and Southern Alberta with 41 retail banking branches. connectFirst supported the JMH LaunchPad Pitch Competition through the connectFirst Social Impact Award of $10,000.
LAUNCHPAD ALUMNI-FUNDED STUDENT AWARD
Now in its fourth year, the LaunchPad Alumni Award is a $5000 prize funded by our alumni and community members, led by alumna and longtime Institute employee, Jennifer MacDonald. This award is given to a student entrepreneur who demonstrates grit, passion, and a viable business. Along with the financial award, recipients become part of a supportive network of alumni, receiving mentorship and other resources from donors. This year, the award was presented to Charter Beselt, a current business student at Mount Royal University who founded AVIS Drone Solutions. Avis offers a groundbreaking solution to the agriculture sector by providing highquality imagery and maps through “drone swarms” to accurately identify field rocks. Traditional drone solutions have yet to leverage recent technological advancements, leaving a gap in the market for efficient and cost-effective agricultural imagery services. AVIS Drone Solutions’ technology saves farmers days of work and minimizes the risk of damage to combines during harvests and fire risk from rock strikes, enhancing productivity and providing peace of mind.
“Winning the LaunchPad Alumni Award in the 2024 Pitch Competition has been transformative for AVIS. Not only has it provided the financial resources to conduct crucial market research and make strategic investments, but it has also given me a significant boost in confidence personally. Knowing that a group of successful entrepreneurs believes in me and my vision is incredibly empowering. This support is a game-changer because it validates my instincts and assures me that I am on the right path, recognized and counted among those who have made meaningful strides in numerous industries.” - Charter Beselt
LaunchPad Lab is an intensive program designed to fuel the entrepreneurial spirit of up to 10 driven student innovators each semester. Spanning eight weeks during the fall and winter terms, this dynamic initiative provides participants with the necessary resources, guidance, and skills to validate and launch their business ideas.
At LaunchPad Lab, students delve into the fundamentals of entrepreneurship, from customer discovery to solution development, under the guidance of experienced facilitators and entrepreneurs. Through hands-on activities and mentorship, they learn to rapidly prototype and iterate, laying the groundwork for their ventures’ success.
The program fosters a tight-knit community where students forge lasting connections with fellow participants, alumni, and mentors from Calgary’s vibrant entrepreneurial ecosystem. These relationships prove invaluable, offering support and insights crucial for both short-term progress and long-term growth.
LaunchPad Lab caters to founders at various stages of their entrepreneurial journey, providing tailored coaching and resources to suit their needs. With a focus on evidence-based decision-making, students acquire the tools and knowledge to navigate the complexities of building a startup.
Outside of sessions, participants benefit from additional one-onone coaching from experienced entrepreneurs. This personalized support ensures students receive
guidance tailored to their unique goals and challenges.
Out of 18 LaunchPad Labs participants, 5 pitched at the JMH LaunchPad Pitch Competition and won a total of $50,000, demonstrating how far founders can go when provided with the right mix of skilled coaching and resources during the early stages of their business.
Committed to fostering inclusivity, LaunchPad Lab removes barriers to entrepreneurial education by providing financial support to participants. Thanks to the generosity of donors like Cathy and Bruce Williams and RBC, students receive a stipend upon program completion, enabling them to pursue their entrepreneurial aspirations without sacrificing financial stability.
3.1.2 LaunchPad Lab
LAUNCHPAD ALUMNI OF THE YEAR AWARD
10 years ago, Paul Shumlich was a passionate student who wanted to tackle the issue of food insecurity in Calgary. In 2015, he determined that indoor vertical farming was how he was going to help solve this problem and was awarded $30,000 at the JMH LaunchPad Pitch Competition. As the founder and CEO of Deepwater Farms, he went on to win many other awards, including Calgary’s EO Student Entrepreneur of the Year, Enactus Alberta Entrepreneur of the Year, and the Trico Charitable Foundation Social Entrepreneurship
COMPETING IN THE COMMUNITY -
Erin Creegan-Dougherty
Award. In 2019, the Calgary Herald named him one of their Compelling Calgarians and in 2023, Paul was given a Mount Royal University Outstanding Alumni Award.
Paul is a true innovator and one of the pioneers of urban vertical farming in Alberta. Instead of simply being a footnote in history like many first movers, he has shown tremendous grit and business acumen to survive and thrive as the CEO of Deepwater Farms. Paul recently secured an investment that will help take his
business to the next level. While being an entrepreneur can be all-consuming, Paul always makes time to support the next generation of MRU entrepreneurs by volunteering as a speaker, judge and coach. True to form as a community builder, when given an audience, Paul never fails to mention the role MRU played in his journey. Paul is an inspiring role model for anyone who is determined to have an impact on their community.
As a recent graduate of Mount Royal University, I am immensely thankful for the support and opportunities provided by the Institute of Entrepreneurship and Innovation and many other entrepreneurial organizations across Canada. These experiences have greatly enhanced my confidence and skills, contributing significantly to my personal and professional development. This fall, I received an award and scholarship from the Hong Kong Business Association for my company as a student entrepreneur. These opportunities allowed me to travel extensively across Canada, forge valuable connections, and secure essential support for my business and future career. Additionally, these interactions and experiences have helped me stand out as a student, leading me to pursue an accelerated MBA at the University of Calgary.
I have now been able to compete for various research grants to support business development for my company, Maskwa Back Country Foods, from several sources, such as the Mitacs Accelerate Entrepreneur funding program and the Transdisciplinary Scholarship Connector Grant, allowing me to accelerate my path to growth. This year, I also competed in the League of Innovates Youth Entrepreneur Award and won one of their Top 30 Under 30 Entrepreneur Awards in Toronto.
One of my proudest achievements is securing fourth place in the EO Canada Global Student Entrepreneur Awards for the Canadian finals in Victoria. This led to my qualification for the GSEA North American Finals at Google headquarters in Waterloo. I was one of two Canadian students chosen to represent North America at the GSEA world finals in Cape Town, South Africa. This experience provided incredible opportunities to connect with community members and allowed me to meet students and entrepreneurs globally. I have been invited to compete again this year for the third time. EO is an organization that offers significant support to students, focusing on learning and growth through experiences and connections within the EO community.
I am incredibly thankful for the past year’s experiences and the coaching, funding, and skill development opportunities provided by the Institute. These experiences have prepared me for success in my continued educational pursuits, career growth, and entrepreneurial endeavours.
WHERE ARE THEY NOW?
Andrew Browne, former Entrepreneur in Residence at the Institute for Innovation and Entrepreneurship and founder of Tiktiks has been named Partner at Thin Air Labs, alongside Managing Partner and longtime founder and venture capitalist James Lochrie. Andrew has had a long-term impact on the Calgary startup scene through roles at Startup Calgary and the Calgary Innovation Coalition and continues to make a lasting impact on early-stage startups at Thin Air Labs.
Chloe Smith , a 2015 alumna of the Bachelor of Communicators, Public Relations program, is the Founder and CEO of Mercator AI. Since founding Mercator in 2021, Chloe has raised over $4.5 million in funding, received numerous awards, including Most Promising Founder from Platform Calgary, and expanded operations into the US.
Wade Lahring , 2017 JMH LaunchPad Pitch Competition winner and 2016 alumni of the Bachelor of Business Administration program, started a Masters of Applied Science in Data, Economics and Design of Policy at the Massachusetts Institute of Technology while on leave from his position as Product Manager at Benevity, one of the organizations’ early employees.
3.2
DELIVERING INNOVATION EXPERIENCES
3.2.1 Innovation Sprint
Since its launch in 2020, the Innovation Sprint has remained a dynamic work-integrated learning program that offers students from diverse faculties across campus the opportunity to gain practical experience by collaborating with local startups and scaleup companies. The program is meticulously designed to enable participating students to develop innovative solutions to real-world challenges posed by companies.
During the Innovation Sprint, partner companies present specific business challenges for diverse teams of four students to tackle. Under the guidance of seasoned instructors, students participate in weekly sessions that offer structured guidance and support. These
sessions are crafted to enhance students’ creativity and problemsolving skills effectively.
Proudly supporting students in the fall and winter semesters, the Innovation Sprint provided participants with over $13,000 in financial assistance, allowing them to take time away from part-time jobs and make time to gain deeply impactful career experience. This program sincerely thanks the Cathy and Bruce Williams Fund for Innovation and Entrepreneurship and the RBC Foundation for their steadfast support. Their generous contributions continue to eliminate financial barriers for students seeking valuable work experience, thereby fostering the development of future leaders.
The 5-week program, conducted in the fall and winter seasons, enables students to accumulate over 40 hours of work experience through structured work-integrated learning. It also facilitated the transition of three students into paid part-time or full-time positions with our partnered companies, such as Becky Lee, now employed by Maskwa Back Country Foods.
Thank you to our incredible problem-solving mentors for this year: Slow Burn Books, 10 Adventures, Fresh Routes, AdmitONE, Moovez, Vetsie.ai, PurposeMed, and Maskwa Back Country Foods. Your involvement is pivotal in shaping the experiential learning landscape for our students.
3.2.2
connectFirst Social Entrepreneurs
The connectFirst Social Entrepreneurs program ran for its third year in 2024 as a collaboration between the Institute for Innovation and Entrepreneurship and the Institute for Community Prosperity. connectFirst Social Entrepreneurs empowers socially conscious students to become innovative and impactful social entrepreneurs and take the first steps to launch their idea. The program integrates the workshop series Economics of Social Change (co-designed with Momentum) with innovation workshops led by Sydney Harder and Cordelia Snowdon-Lawley, combined with personalized coaching by Manitoba social entrepreneur
3.2.3 HealthTech Challenge
The HealthTech Challenge returned for a second year, showcasing the exceptional potential of three crossdisciplinary student teams in driving cutting-edge advancements in health technology. During the 16-week program, 15 participants gained innovation, product management, hardware and software development, and project management skills while working in cross-disciplinary teams. The teams received mentorship support from some of our awardwinning research faculty, including faculty member Jordan Kidney, a group of senior student mentors, and industry mentors. Each team received the support of technical mentors, such as senior student mentors such as Mike Chen, winner of the 2024 JHM LaunchPad Pitch Competition, who helped them build on the skills they have learned during their university careers and acquire new ones, such as 3D printing, soldering, software development, and CNC.
Shaun Loney, to guide students in developing their solutions.
Students acquire essential skills for ideating, innovating, and launching their ideas. They utilize techniques from the most innovative industries to address and act on complex problems while being mindful of systems and impacts. Projects explored include access to affordable housing and energy, representation of those living with differing abilities through the arts, mental health awareness, and more.
The program engaged 10 crossdisciplinary students in five Economics of Social Change sessions,
applying an economic perspective to social issues. Participants collaborated to understand the interplay between the local economy, community development, and social change, covering local job creation, Indigenous perspectives on economic reconciliation, social change business models, income equality, and more.
Thanks to the generosity of connectFirst Credit Union for allowing each of the 10 participating students to receive a $500 stipend to support their journey.
To understand their problem and customer needs, participants received briefings on rural health, environmental health, and mobility from award-winning MRU research faculty. This included Dr. Christy Tomkins-Lane, founder, venture capitalist, and Department Chair (on leave) of Health and Physical Education, who supported the students in understanding the relevance of technology in the healthcare field.
Additional mentorship was provided by Dr. David Legg, past President of the Canadian Paralympic Committee and Full Professor, Dr. Joseph Osuji, RN Professor at the School of Nursing & Midwifery, and Dr. Kumar Chandrasekhar. Students were also joined by guest faculty lecturers, Dr. Fiona Robinson and Dr. Jacqueline Musabende, who supported the program with insights on solution generation and project management tools useful for tech-based ventures.
To further help the students understand product-customer fit and opportunities for developing their projects, students connected with startup founders and experts from the Calgary startup community and around the world, including mentors from Garmin, Blackline Safety, and Makers Making Change
The Institute for Innovation and Entrepreneurship would like to thank Alberta Innovates for their ongoing support of the HealthTech Challenge.
Team Mobility
Knee-Flex helps patients be more in control of their rehabilitation journey. This innovative device aims to enhance knee rehabilitation and recovery by integrating advanced sensors and AI-driven algorithms, improving knee joint flexibility and strength. It provides users with personalized exercise routines and real-time feedback, ensuring a tailored and effective rehabilitation
experience. KNEE-FLEX aspires to make the recovery process more efficient and user-friendly by offering customized rehabilitation programs and tracking progress.
Team Rural Health
RurAlarm addresses the critical issue of slow and inefficient emergency response in rural areas. The system consists of a network of sensors and alarms strategically placed in rural areas to monitor for signs of emergencies, such as fires, medical crises, or security threats, assisting in the prompt reporting of emergencies. Upon detecting an incident, RurAlarm immediately alerts local authorities and nearby
residents, facilitating a rapid and coordinated response.
Environmental Health Team
Guard Dog monitors real-time environmental conditions, such as air particulates, humidity, and various gas levels (including hydrogen sulfide, methane, carbon monoxide, and carbon dioxide) for on-site workers. Equipped with advanced sensors, Guard Dog provides continuous updates and instant alerts on the current status of the work area, enabling quick responses to potential hazards. The collected data can be analyzed for potential worksite improvements, making Guard Dog a valuable tool
for enhancing workplace safety and efficiency.
“As a student, my involvement in the HealthTech Challenge has been immensely beneficial, providing me with hands-on experience in critical aspects of engineering and software development. Working on my HealthTech project has taught me the importance of precision and reliability, essential for engineering solutions for patient care and medical outcomes. This experience has not only deepened my technical expertise but also fostered a strong sense of responsibility and empathy towards users” Nik Srivastava
3.2.4
Tech LiftOff
A brand-new program supported by the John Dobson Foundation and Prairies Canada, Tech LiftOff builds on the strength of the flagship LaunchPad program to support ambitious senior technology students and senior business students in an 8-month intensive technology-based program.
18 students began their journey to developing tech products people actually use in January of this year, kicked off by a series of thirteen senior technology guest speakers from the local tech community, including Neo Financial, Arcurve, OpenHouse.AI, and HelpSeeker
Technologies. Using lean startup methodology, students ideated problems and solutions to form teams supported by eight mentors with deep backgrounds in both innovation and software development.
Participants spent the summer months building their projects and testing them with potential customers. Projects explored a wide range of sectors and topics, listed below:
Text Guardian
Text Guardian identifies fraudulent text messages targeting older adults
by data mining text messages and monitoring trends in spam texts by fraud reporting organizations.
ScopeSift
ScopeSift allows mechanical contractors to summarize large, complex contracts into a simple, comprehensive scope of work document and RACI chart, while eliminating redundancy, confusion, and inaccurate task allocation.
Reel Time
Reel Time allows museums and archives to effortlessly produce video
trailers tailored for social media from static exhibits, providing both educational content and valuable exhibit advertising.
Infinimatch
Infinimatch is a media recommendation engine that correlates interest in movies, TV shows, books, and video games based on user behaviour.
Roumi
Leveraging research from Berkley, Roumi uses Gaussian splatting to allow property owners to render high-fidelity 3D scans of their property listings while maintaining an accurate representation of roomscale and property floor plans.
Throughout the program, 12 students have received positions at local tech companies, including AtVenu, Mercator AI, Arcurve, and Mass Logistik. Students also received
3.2.5 Side Hustle Science Fair
In February, the Side Hustle Science Fair, held in partnership with the Student Association at Mount Royal University (SAMRU) at Wyckham House, showcased the vibrant entrepreneurial spirit within the MRU community. This event provided a welcoming platform for student entrepreneurs to demonstrate their creativity, regardless of the scale or stage
The fair featured 14 vendors who displayed various products and services, from authentic chai to car and boat detailing. Participants had the opportunity to sell their products and compete for cash prizes. This hands-on experience offered invaluable real-world business insights essential for future
2 $1000 stipends to allow them to forgo or lessen hours at parttime jobs and focus on a formative, career-changing experience that will set them up for future success as impactful members of the Alberta technology community.
“Before joining this program, I expected to be washing windows for my summer job. Thanks to the program and the network I built, I am now working with an AI-focused software company. This will have a huge impact on my career and my aspiration to build my own company leveraging AI in the construction industry. I am beyond grateful.”
Kaydan Pring, Bachelor of Business Administration student
“This program has pushed me way out of my comfort zone. I actually went to a realtor convention to understand their needs in building my realtor solution. I am now working directly with a few of them as early
customers. I also moved beyond my own technical understanding and dug into research at Berkley to ensure I was using the most advanced algorithms for our visualization solution. There is lots of work to be done but I’m well on my way!”
Matthew Hrehirchuk, Bachelor of Computer Information Systems student
“The speakers were remarkable. I met the CTO of a software development company and was invited to apply for a summer internship. I beat out dozens of applicants for the position and have my first meaningful employment. I will learn so much during this summer which will all be applied to creating my own product. This would never have happened without the program.”
Sunny Parmar, Bachelor of Computer Information Systems student.
success. By engaging directly with customers, students gained practical exposure to the dynamics of running a business.
The Side Hustle Science Fair provides a friendly, competitive environment. Judges, including faculty and industry experts, evaluate each side hustle based on creativity, viability, and overall appeal. Winners are recognized in categories such as Best Overall, Most Creative, and Audience Vote, and cash prizes fuel their entrepreneurial ventures.
Beyond the competition, the Side Hustle Science Fair is a networking hub, fostering connections between student entrepreneurs, potential
customers, collaborators, and mentors. This supportive ecosystem is crucial for nurturing the next generation of entrepreneurial leaders.
The “Best Overall” prize and a $500 cash award went to Zahra Najeeb for her jewelry brand, Marvel’s. The judges were impressed by Zahra’s journey from Pakistan to Canada and her innovative approach to combining luxury with affordability while supporting animal welfare. Zahra’s story is a testament to the impact and opportunities the Side Hustle Science Fair provides.
3.2.6
European Innovation Academy
This summer, we proudly supported six students’ participation in the renowned European Innovation Academy (EIA) in Porto, Portugal, designed by the University of California, Berkeley. EIA is a distinguished three-week study abroad accelerator program that offers students an immersive, handson learning experience. Participants worked in cross-functional teams with peers from around the globe, collaborating to develop innovative business solutions.
Throughout the program, students refined their entrepreneurial skills and built a comprehensive toolkit
for launching a successful business. With access to over 50 mentors and speakers from the tech industry’s top organizations and a diverse cohort of over 600 participants, the EIA provided invaluable insights into what it takes to thrive as an entrepreneur in today’s fast-paced business environment.
The program involved an intensive daily schedule, covering a broad range of topics from customer discovery and prototyping to designing marketing campaigns and securing startup funding. Many students committed over 10 hours daily to their ventures, driven by
3.2.7 Community Events
LaunchPad Student Programs is built on the strength of community, supporting lasting connections among students, Calgary entrepreneurs, alumni, and mentors. This year, we welcomed over 344 students to 24 wide-ranging events.
passion and dedication. Students are challenged to secure 300 unique email sign-ups to earn the opportunity to present their business concepts to a panel of distinguished judges on the main stage.
We are proud to recognize the six students who embraced this challenging program:
• Daksh Thawani
• Aldo Ortiz Acosta
• Manon Kugler
• Carly Cooper
• Jyris Thomas
• Gursimran Grewal
Community Meetups provide vital hubs for students, alumni, and community to mingle, exchange ideas, and lend mutual support. For budding entrepreneurs, networking is critical. These meetups offer a platform for students to expand their circle, fostering continuous learning and advancement.
Our Monthly Meetups provide invaluable networking opportunities, propelling many students to deepen their engagement in Calgary’s startup ecosystem and broaden their connections.
Rise is a dedicated community empowering women student innovators and entrepreneurs. Community members find solidarity, sharing experiences, challenges, and triumphs while collaborating with like-minded peers. Workshops, guest speakers, and networking events equip members with the skills and knowledge to flourish in entrepreneurial careers.
One of the highlights of our year was hosting the dynamic duo behind Slow Burn Books, Nicola and Shannon MacNaughton, for an engaging discussion of their high-growth business, launched in 2023 to lines out the door. Nicola and Shannon excel at demonstrating customer empathy, agile growth marketing, and the power of building community
to build a business. Slow Burn has grown to include community events, a subscription book box, and will soon include an Indie publishing arm, all in under a year of existence.
“Rise has been instrumental in my personal and professional journey, fostering a supportive community that has empowered me to advocate for myself.” - Jessica Lee, Computer Information Systems Student
“I had the privilege of speaking at one of Rise’s inaugural events, and it was an incredible experience. Tianna and Diana’s dedication to supporting female-identifying students is truly commendable, and I’m excited to witness the community’s growth.” - Jamila Kanji
MRU Hacks
The inaugural MRU Hacks hosted 85 computing students to deliver 14 projects in just 24 hours with the support of industry mentors, engaging workshops, and other activities throughout the event. Founded by Tech LiftOff students Sunny Parmar, Matthew Hrehirchuk, and Jaunie Williams and supported by the Institute for Innovation and Entrepreneurship, students proposed software solutions to problems such as managing coursework, recovering from substance abuse, navigating being a newcomer to Canada, and managing a healthy lifestyle.
The event kicked off with an inspiring lecture from Lucas McCarthy, founder of Showpass, who inspired students to take on challenging projects to build their careers. MRU Hacks was also supported by Alberta Diamond Exchange, Accenture, Careers in Tech and Innovation, Infinite Mind Pictures, Github, and Stack Overflow.
MRU Hacks will return in October 2024 and expects to host over 150 students from multiple Calgary post-secondary institutions at the Riddell Library and Learning Centre on campus.
3.3 FUNDERS
The Institute receives no base funding from Mount Royal University and therefore relies on the generosity of donors and granting organization in order to have a transformational impact on students and the community. In addition to a foundational endowment provided by David and Leslie Bissett, the Institute is grateful for the ongoing commitment of the following community leaders.
RBC Foundation
Following a 2011 foundational donation of $1.1M, in 2021 the RBC Foundation committed a further $525,000 over 3 years to support student innovation and entrepreneurship programming.
JMH & Co.
After 10 years of support, in 2021 JMH extended their commitment
IMPACTS
for a further 5 years, ensuring an additional $300,000 will be provided to students participating in the LaunchPad program.
Cathy and Bruce Williams
The Williams have committed $300,000 to establish the Cathy and Bruce Williams Innovation and Entrepreneurship Fund which will provide paid work-integrated learning experiences to MRU students as well as promote the thought leadership of MRU in the community.
connectFirst Credit Union
connectFirst has committed $75,000 over 3 years to fund the connectFirst Student Entrepreneur program and the connectFirst Social Impact Award.
Alberta Innovates
Alberta Innovates committed $25,000 through the Strategic Networking and Development Grant in support of the HealthTech Challenge, a cross-disciplinary paid work-integrated learning experience in hardware innovation.
John Dobson Foundation
The John Dobson Foundation committed $216,000 in support of Tech Liftoff, an intensive crossdisciplinary software product development program, which will host 3 cohorts of 18 students over 3 years.
Prairies Canada
Prairies Canada committed an additional $238,700 over 3 years in support of Tech LiftOff.
4. RESEARCH PROGRAMS
From the Director
Growth Compass, the Institutes’s major research initiative, has made significant strides in advancing its mission to provide evidence-based insights on business growth and scaling.
In research, our SME Growth Meta-analysis project aims to uncover critical factors influencing SME growth by utilizing data from over 33,000 studies. The Commercialization Compass project, funded by Emissions Reduction Alberta, addresses commercialization barriers faced by ERA portfolio companies through a diagnostic survey. Our research output includes six published articles, three conference presentations, and six invited speaker engagements, with our work accepted in the prestigious FT45 Human Resource Management journal.
Community engagement has been a cornerstone of our activities, with events attracting 1,700 attendees and 500+ new Linked In followers. Highlights include the inaugural ScaleUP Week, offering strategies and resources to help companies scale, and Ignite & Innovate, empowering 450 women entrepreneurs. These events have become essential platforms for knowledge sharing and networking.
As we look ahead, Growth Compass remains committed to driving impactful research, facilitating valuable student experiences, and engaging the broader community. Our strategic investments in upcoming projects will build on our strong foundation, ensuring we remain at the forefront of business growth and scaling insights.
Thank you to our supporters, partners, and the broader community for your continued engagement and contribution to our success.
Dr. Simon Raby Director, Growth Compass
4.1 RESEARCH PROJECTS
SME Growth Meta-analysis
Collaborators: Dr. Hadi Fariborzi (PI), Dr. Simon Raby, Dr. Toktam Salari
The SME Growth Meta-analysis project aims to uncover the critical factors influencing the growth of Small and Medium Enterprises (SMEs) through a comprehensive meta-analysis. Recognizing the significant role SMEs play in economic growth, job creation, and innovation, this study seeks to synthesize fragmented research and provide a cohesive understanding of SME growth dynamics. The project employs a two-phase approach using the HubMeta platform to aggregate and analyze data from over 33,000 studies. The project will employ advanced statistical methods to examine the interplay of independent variables including entrepreneurial orientation, innovation capabilities, financial health, and external environmental influences, and their influence on market, financial and non-financial growth. The ultimate goal is to develop a unifying taxonomy and support knowledge accumulation efforts in the field, ultimately generating actionable insights for entrepreneurs, managers, and policymakers, thereby enhancing theoretical understanding and fostering long-term economic development.
IMPACT:
Conference paper proposal accepted and paper presented at the 2nd Scaleup Conference, Rome, Italy, June 2024.
Commercialization Compass: A Self-Assessment Tool
Collaborators: Dr. Simon Raby (PI), Dr. Oleksiy Osiyevskyy, Dr Bahman Radnejad
The “Commercialization Compass: A Self-Assessment Tool” project, funded by Emissions Reduction Alberta (ERA), addresses the barriers to commercialization faced by its portfolio companies. Through this initiative, ERA aims to enhance the uptake and efficacy of its Innovation Support Services (ISS). The tool is designed to diagnose and triage commercialization challenges using a rigorous, evidence-based survey completed by ERA portfolio companies. This assessment will identify strengths and weaknesses, guide appropriate resource allocation, and benchmark companies’ progress, ultimately improving commercialization success rates. The project team includes Dr. Simon Raby [Principal Investigator], Dr. Oleksiy Osiyevskyy, and Dr. Bahman Radnejad, each bringing extensive expertise in innovation, entrepreneurship, and assessment development.
IMPACT:
Published policy report titled “Improving new technology based firms’ commercialization readiness” that isolates the dimensions of commercialization readiness success Designed and launched a diagnostic tool available at www.commercializationcompass.ca Conference paper proposal accepted and paper presented at the 31st International Product Development & Management Conference (IPDMC), Trinity College, Dublin, June 2024.
4.2 RESEARCH PUBLICATIONS
Growth Compass directly published six articles, delivered three conference presentations and received six invited speaker presentations. Details are as follows:
Scaling Up: Exploring the Role of Human Resource Management in Exponential Growth Contexts Journal: Human Resource Management (A*, FT50) | Status: Accepted, 2024
Authors: Raby, S. (EIC), Collewaert, V., Harney, B., Knockaert, M., Sluss, D. and Anseel, F.
Improving New Technology Based Firms’ Commercialization Readiness Commissioned By: Emissions Reduction Alberta | Status: Published, 2024
Authors: Osiyevskyy, O. and Raby, S.
Advancing Technology Entrepreneurship: A Global Scan of Novel Ecosystem Supports Commissioned By: Alberta Innovates | Status: Published, 2024
Author: Raby, S.
Scale-up and Growth Wayfinder Scan & Analysis, Phase 2 Report Commissioned By: Alberta Innovates | Status: Published, 2023
Author: Raby, S.
“Dr. Raby has been instrumental in working with Alberta Innovates on an innovative approach to taking an “entrepreneurial-centric” view of serving entrepreneurs in the province. His work on the efficacy of the Alberta entrepreneurial public support system informed the Wayfinding project with Alberta Innovates. The Wayfinding project, which is led by Simon, focuses on entrepreneurial ecosystem navigation, or ‘wayfinding’ for entrepreneurs to find the “right services at the right time” to support a seamless journey for scaling up and growing of their businesses. His work explores how wayfinding currently works and identifies solutions that enhance a positive experience for entrepreneurs. Phase two of the project will use co-development processes and tools to enhance the connections between entrepreneurs and ecosystem resources in an entrepreneur-centric way, as well as promote collaboration on solving scale-up and growth challenges and create future Alberta ecosystem opportunities. This work will also inform future work on impact and assessment”.
Kathryn Graham, Executive Director, Alberta Innovates
4.3 CONFERENCE PRESENTATIONS
• Osiyevskyy, O., Raby, S., Radnejad, A.B. (2024) “Assessing the Commercialization Readiness of Technology-Based Ventures,” 31st Innovation & Product Development Management Conference (IPDMC) 2024 , Trinity Business School, June 5-7, 2024, Dublin, Ireland.
• Fariborzi, H., Raby, S., Salari, T. (2024) “Putting Together the Puzzle: A Comprehensive Meta-Analysis on the Growth of Small and Medium-sized Enterprises (SMEs),” 2nd Scaleup Conference, European ScaleUp Institute, June 10-11, 2024 , Luiss Business School, Rome, Italy.
• Raby, S. and Chowdhury, R. (2023) “Small, yet mighty: Examining the performance effects of financial actions taken by entrepreneurs in response to mega-crises.” 4th International Conference on Digital, Innovation, Financing and Entrepreneurship (DIFE) , Virtual, John Molson School of Business, Concordia University, Canada.
Dr. Simon Raby was also invited to travel and share his knowledge and experience at universites on two continents.
• University of Galway - Scaling and Growth of SMEs
• Dublin City University - Strategic Human Resource Management
• Deakin University - SME Growth and Research Impact
• University of Dubai - Scaling SMEs and Corporate Programming
“Simon’s visit was a catalyst for innovative thinking and collaboration at our centre. His expertise in SME growth provided invaluable insights that will significantly influence our research and impact trajectory.”
Prof. Esther Tippermann, University of Galway
“The impact workshop led by Simon was exceptionally valuable. His strategies for effective knowledge mobilization are crucial for enhancing the practical relevance and societal impact of our research.”
Prof. Andrew Noblet, Deakin University
ScaleUP Week is a new initiative launched to coincide with the United Nations Micro-, Small and Medium-sized Enterprises (MSME) Day, emphasizing support and empowerment for MSMEs worldwide. The event features four transformational days of strategies, insights, and resources to propel companies to new heights. Attendees can connect with top entrepreneurs, industry leaders, and policymakers driving global impact. Proceeds from the event are to be invested back into Growth Compass to continue to build an evidence base on company growth and scaling, enhancing our understanding of what it takes to scale from Western Canada. This year’s ScaleUP Week included 24 x 1-hour virtual sessions and 65 speakers powered by 24 regional and national sponsors.. Over 800 registrants attended the week, and 90 company nominations were received for the awards program.
• Evidence Day ScaleUP Conference (June 17, 2024): What do we really know about company growth and scaling? This day targeted those interested in learning about the latest evidence on company scaling and growth, showcasing leading thinkers on what works.
• Ecosystem Day (June 18, 2024): How is the ecosystem supporting scaleup and growth companies? This gathering brought together entrepreneurs and service providers from our ecosystem to evaluate the current landscape, identify prevailing gaps, and explore collaborative strategies to refine our support framework. Together, we forged a path that optimally benefits and accelerates the development of scaling companies.
• Practice Day ScaleUP Summit (June 19, 2024): Are you a CEO or leader seeking further growth and scale? This empowering day of practical guidance, innovative approaches, and expert panel discussions focused on scaling your business effectively and sustainably.
• Gala & Awards (June 20, 2024): 250 participants joined the ScaleUP Gala & Awards during ScaleUP Week, where we honoured Western Canadian leaders and companies showing true potential for scale. This event celebrated the latest scaling practices and recognized the achievements of scale-ups across the region. There were keynote speeches, interviews with award recipients, and valuable networking opportunities as we celebrated potential and propelled entrepreneurs and leaders toward growth and scale.
5. SCALE-UP & GROWTH PROGRAMS
In our first year we celebrated a powerful lift off in Calgary. In this, our second year, we celebrate consistency and soaring to new heights across the province, with one eye to expansion.
The Institute’s Scale-up and Growth Programs team focused our second year on consistently delivering awesome transformational learning experiences in collaboration with and in three municipal districts (Edmonton, Red Deer and Calgary) and with partners our virtual programming reached audiences across Canada.
We often say that strategy is a team sport; so is execution. Our team cohesion strengthened in the process of achieving great things together with our community. In the past year we graduated three Growth Catalyst cohorts, and started a fourth, all whilst relying on constant feedback and communication with our many prospects, clients, delivery partners and community stakeholders.
As 2022 recipients of programming grants of $1.4M from each of PrairiesCan and Alberta Innovates, as well as a $500,000 donation from TD Ready Commitment we have multi-year economic development targets. Since 2022, we are making an impact across the province, having served 74 small to medium sized businesses and 275 executive leaders.
Early impact reporting data collected proved that SMEs grew revenues, on average, 20.1% within 12 months of starting Growth Catalyst and increased employment by 4.5 jobs per company.
Remembering that we are an Institute within a proud post-secondary, we created work integrated learning experiences (paid and unpaid) for 82 undergraduate learners this reporting period. This included 10 paid internships this summer and five who contributed to the core program team.
Our rural reach across the province has included: Lethbridge, Grand Prairie, Sunnybrook. Nisku, Wetaskiwin. 40% of the companies in the program were women-owned, far exceeding the national statistic of 18%. From a cumulative perspective, 275 people have experienced Growth Catalyst core programming, 179 male, 96 female (35%).
The majority of Growth Catalyst program recruitment is now coming from Alumni referrals and select community members. We’d like to specifically thank the Venture Mentoring Service of Alberta (VMSA), Women Presidents Organization (WPO), and the Better Business Bureau (BBB) of Southern Alberta for their support.
With partners, we co-hosted four significant co-branded marketing events that included 677 community members. Most significant was a national online event co-produced with TD Bank’s Women in Entrepreneurship team that attracted 480 registrants for an all-day national, virtual learning event.
We launched our Growth Navigator Network, which pulls together over 40 experienced advisors who are leveraged during key modules and as Experts on Demand. We secured a $50,000 Calgary Innovation Coalition grant that allowed for a pilot project where experts supported 48 companies and 132 leaders. This ensured that graduates of our Growth Catalyst program had access to the expertise they require to execute on their growth plans. Learning from this pilot is helping us to shape what service offerings to consider as paid Alumni programming.
I am personally grateful for the collaboration displayed between Growth Catalyst and Growth Compass teams to successfully execute ScaleUP Week. We know it takes a village.
In our year ahead we envisage: all seven of the seven Growth Catalyst cohorts fully delivered; our first formal impact report offering a glimpse of how more Alumni are applying what they learned to achieve results; launching of Growth Catalyst Alumni services to support SMEs in execution of their big strategic growth opportunities; and a clear path to program expansion (including funding) for 2025-2028.
There’s more to come!
Pete Fenwick, Director
5.1 GROWTH CATALYST
Growth Catalyst is the leading Scale-up Accelerator in Western Canada. Over 74 CEOs and their leadership teams have benefitted from our program. The ecosystem places an emphasis on businesses in the startup phase, while established businesses have limited resources to challenge their thinking, elevate their plans, and gain support in realizing their ambitions.
Ambitious CEOs join Growth Catalyst for many reasons, but we can distill their pain points to a few themes. The company has ambition but lacks a robust strategy to realize their goals. The CEO has a vision, but the team lacks alignment or accountability for its execution. The company is uncomfortable betting on a strategy without adequate evidence or a second set of eyes to pressure test efficacy prior to committing significant resources to its execution.
Some of these companies are making generational changes in their leadership, bringing in new talent, or acquiring new businesses, and getting their executive team on the same page is a goal that these businesses share.
At Growth Catalyst, we believe strategy is a team sport, and have developed our program with that in mind. As such, we expect CEOs to select and join a four member strategic growth team, often the head of sales, operations and a CFO.
These businesses expect three takeaways from their time in the program:
• A strategic growth playbook based on leading practices.
• An engaged, aligned and accountable team to deliver that plan.
• Confidence, based on a second set of eyes, be it peers, faculty
and advisors to challenge their thinking, expose blind spots and offer insights based on experience and success.
These companies commit to an intensive, seven month program with ten in-person sessions and invest their time in building evidence for their strategy, grounding their plans in the capabilities of their companies, and exploring new avenues for growth.
As a result, many of the organizations have seen top line growth of at least 20%, But more importantly, have set their strategy on the strong footing of an intentional approach to planning, gelling as a team and executing with confidence.
Growth Catalyst is for ambitious yet humble leaders. With peer based adult learning it’s important to be able to share, and to listen. The
program recruits cross-functional teams of 3-6 leaders from each participating company, known as Strategic Growth Teams (SGTs), who embark on an intense cohort-based integrative experience as part of a cohort of up to 15 SMEs. That’s up to 60 people per cohort. Together they reimagine, rediscover and realize big strategic growth opportunities. Teams build trust by doing things together (like corporate strategy development and planning). By combining teams from across various industries and sectors a safe space for talent development has been created.
The fourth cohort was based out of Red Deer and is in partnership with the Red Deer & Area Chamber of Commerce and Red Deer Polytechnic, focusing on Central AB growth. We are grateful to RDP for this collaboration.
Modernspeak
MODERNSPEAK joined the Growth Catalyst program to tackle scaling challenges. Founder & CEO Kristyn Snell noted that the program was recommended by peers. It was instrumental in defining their ideal customer profile. “Growth Catalyst gave us the permission to grow,” she said, alleviating their fears about financing and helping them connect with financial resources.
The program’s tools and strategies were pivotal in doubling their team, refining their business plan, and improving team dynamics. Kristyn mentioned, “We realized not everyone needs to be in every
room,” which helped optimize their operations. Managing Director Rose Chase appreciated the diverse perspectives shared within the program, noting, “We all face similar challenges and learn from each other.”
The program also inspired a rebranding effort and the launch of their new website. Overall, Growth Catalyst provided Modern Speak with critical insights, confidence, and tools that facilitated significant growth.
Timber Ridge Firewood
Joining the Growth Catalyst program had a transformative impact on Timber Ridge Firewood. Before joining, the company struggled to sustain growth postCOVID due to increased costs and industry changes. The program catalyzed a major shift in their organizational structure and team dynamics, enabling the company to continue scaling effectively. Steven Boivin noted that the program “made us realize that we hadn’t been thinking outside the box enough and that there were innovative approaches we hadn’t considered.”
Steven and Nick Boivin, the CEO and CFO, restructured their team to enhance growth readiness and align with their vision, mission, and values. This strategic realignment empowered their team, fostering better engagement and performance. Since joining
the program, Timber Ridge Firewood has maintained its growth trajectory, optimized operations, and explored new profitable verticals. Medlior Health Outcomes
Research
Initially, Medlior Health Outcomes
Research sought innovative strategies to address challenges related to slow industry spending and the need for new revenue streams. The Growth Catalyst program not only met but exceeded their expectations in these areas.
The program helped Medlior strategically evaluate new opportunities and pinpoint the most effective growth paths. Principal Eileen Shaw highlighted the impact of the program on their team dynamics: “The program has really helped us become a more cohesive leadership team.” Vice President Suzanne McMullen added that the program’s influence was profound in accelerating their progress: “It forced us to bring these opportunities along faster than we would have.”
COMPANIES AIMING TO SCALE UP THROUGH GROWTH CATALYST
Pulling 74 companies and 275 leaders close to MRU has a profound impact on students. 82 students benefited in the following unique ways:
• 67 students had an in-class work integrated learning experience
• 5 students had $57,450 in paid internships with the Growth Catalyst program team
• 10 students had meaningful paid internships totalling $70,000 with the participating companies.
Growth Catalyst partnered with the Bissett School of Business and Red Deer Polytechnic (RDP) to work with specific courses on an in-class client project where students were challenged to apply the learnings of the course to a Growth Catalyst company. 67 students engaged across three courses:
MKT 3234 (RDP): Digital and Social Media Marketing Dr. Robert Opoku
BUS 2290 (RDP): Experiential Learning Dr. Robert Opoku
Special thank you to Dean Robbie Halonen, Dr. Opoku and President Stuart Cullum for embracing the Growth Catalyst program at Red Deer Polytechnic.
Following the delivery of their student project, students were nominated by their professors for a Business Growth Internship Project. We successfully placed 10 students with Growth Catalyst companies to support in the execution of their Growth Strategy. This is an sampling of the paid internship experiences:
• Modern Speak - Shondi Basset: Public relations and social media coordinator to drive a strategic marketing initiative.
• Clever Canines - Ayden Bragg: supported the development of multimedia content, including training videos, content curation, video production, etc.
• Mass Logistik - Nicole Ranieri: user experience developer to support project engineers with programming tasks and UX/UI development.
• Diesel Tech Industries - Shasi Sengain: assisting with financial modelling to support new growth strategies by providing insights into financial performance and viability of their leading product.
As we continue to support SMEs in Canada, we will continue collaborating with the Bissett School of Business and Red Deer Polytechnic; as well as considering how we expand this offering to other schools in the region.
Course Professor
FNCE 4405: Entrepreneurial Finance Dr. Reza Chowdhury
“Our company has been around for a few years, and my only regret is that we didn’t have a program like this 15 years ago. After a while within a company, you sometimes lose or narrow the vision of where your company should go. This program will widen that vision and you’ll see things maybe you didn’t see before.”
Omar Hamdon, Hamdon Energy Solutions
“The Growth Catalyst program has had an awesome impact on vrCAVE and it really helped us focus on working on the business instead of in the business. If you’re at the right stage of a company, this is a great place to both train and to also communicate as a leadership team and to look towards the future boldly and at opportunities on the horizon.”
Alex Rossol, vrCAVE
“The way we were able to engage with other companies in a variety of industries, not just technology, has given us a really holistic view of the challenges businesses like us face. But we all often hear the same kind of approach to these business challenges, which creates an echo chamber. So the Growth Catalyst program was much more holistic in many regards, and hearing those perspectives had us create new ideas of how to approach the problems.”
Luke Statt, EWI Works
Kassidy Gerhardi’s story as a Mount Royal University Alum and Marketing Lead at Growth Catalyst
Working at Growth Catalyst has been an incredible launch pad for my career. During my final year pursuing a BBA, I was very involved with the Institute for Innovation and Entrepreneurship’s student programming. As graduation approached, I wanted to stay connected to that vibrant community.
This role turned out to be exactly what I was looking for. With my own entrepreneurial spirit, I saw this role as a unique chance to learn firsthand from the program and its participants about what it takes to scale a business. As I near the end of my time with Growth Catalyst and transition to a new role at an American venture capital firm, I’m excited to continue supporting entrepreneurs.
I’m immensely grateful for the mentorship and support from the entire Growth Catalyst team. I’ll continue to advocate for the program’s value and its role in helping businesses scale.
5.1.2 Community Building and Knowledge Translation
Through engaging with specific community partners the Institute delivered programming to 677 individuals. We are grateful to the following brands who helped us co-produce the following sessions; some of which had audiences across Canada..
Mastering the Digital Frontier: Accelerating Growth through Technology Adoption
October 16th, 2023
In partnership with the Entrepreneurs Organization of Calgary, we hosted a full-day workshop for 28 of their members. Participants crafted tailored strategies for effective integration, developed a customized digital transformation roadmap, and discovered resources to drive their digital advancement.
Evening with the Entrepreneurs
October 17th, 2023
In collaboration with McLeod Law, we organized an exclusive panel and networking event at Studio Bell that hosted 119 Attendees. This gathering featured a discussion with prominent business leaders who shared their proven strategies for scaling businesses, offering valuable insights and networking opportunities for attendees.
Ignite & Innovate: Helping Women Entrepreneurs Master Business Growth
October 26th, 2023
Last fall, in partnership with TD, we delivered a high-impact virtual workshop aimed at empowering women entrepreneurs, with over 450 women entrepreneurs in attendance from across Canada. This event featured 16 expert speakers who provided actionable strategies and insights on scaling businesses, refining ideal customer profiles, exploring growth opportunities, and enhancing funding pitches.
Leading at Scale: How to Transition from a Start Up to a Scale Up Leader
November 21, 2023
In collaboration with CDL-Rockies and VMSA, we hosted a panel event during Innovation Week with over 80 attendees. This session featured three experienced entrepreneurs who shared critical strategies and personal experiences on overcoming the challenges of scaling a business.
ScaleUp Week
June 17 - 20, 2024
As an Ascend Partner for ScaleUp Week, Growth Catalyst was headline Sponsor of Practice Day, a virtual and recorded event hosted by our Director, Peter Fenwick. There were two parallel learning tracks with 15 dynamic one-hour sessions which featured over 45 experts; each of whom shared experiences that equipped the audience with strategies, insights, and resources to excel in their competitive marketplaces. This contributed to the overall 800 registrants for ScaleUp Week.
5.1.3 Growth & Resiliency Speaker Series
The Growth Catalyst Growth & Resiliency Speaker Series explores the latest practices that help Canadian business leaders scale up their businesses. We used the graduation of three cohorts to attract high quality speakers as Honorary Growth Catalysts.
Honorary Growth Catalysts:
• Cohort 3 - Edmonton - Ashif Mawji : A serial entrepreneur, philanthropist, venture capitalist, mentor and community builder.
• Cohort 4 - Red Deer - Robert Saik : A seasoned leader in the Ag Tech sector, co-founding AGvisorPRO in 2019 to support farmers and enable agriculture professionals to monetize their expertise.
• Cohort 5 - Calgary - Desirée Bombenon : A distinguished leader recognized as RBC’s Women’s Entrepreneur for 2020 and Ernst & Young’s 2019 Entrepreneur of the Year for the Prairies in Communication Technology.
5.2 GROWTH CATALYST - EXPERTS ON DEMAND
Companies that participate in the core Growth Catalyst program are thirsty for more support while they execute their growth strategies, The Growth Catalyst Experts-on-Demand (EOD) program is one of many extension programs that will support these ambitious leaders. This program aims to further amplify and accelerate the growth of companies by providing targeted assistance where it is needed most.
The Institute was awarded $50,000 in 2023 by the Calgary Innovation Coalition’s Support for Calgary Entrepreneurs (CSCE) fund with the original goal for this to support up to 33 companies.
The EOD program has recruited 10 advisors who supported 48 companies and 132 individuals in beginning to execute their plans for diversification and growth. This activity catalyzed a more broad and formal Growth Navigator Network.
5.3 FUNDERS
Growth Catalyst is funded through Prairies Economic Development Canada, Alberta Innovates - Ecosystem Development Programming Fund, and the TD Ready Commitment Foundation. Their belief in the vision and commitment to fostering growth and innovation has been instrumental to the program’s success.
Establishing MRU as a thought leader through the speakers series was made possible by the vision and contribution of Cathy and Bruce Williams. The Experts on Demand program was supported by the Calgary Innovation Coalition.
Key personnel from funders have also been present at Growth Catalyst events and on social media promoting the program. This has been instrumental in recruiting companies into the program.
6. TEAM
STUDENT PROGRAMS
Ray DePaul, Executive Director
Ray is the inaugural Executive Director of the Institute for Innovation and Entrepreneurship at Mount Royal University in Calgary, where he supports the next generation of innovators and entrepreneurs. Ray is a veteran of the Waterloo, Canada technology sector and has launched many innovative products in his 30-year career. He has been a successful entrepreneur, selling his company to Intel, and was also a key member of the team that brought the iconic BlackBerry to the world.
He is a member of the prestigious A100 and serves on the board of directors of Attabotics, Platform Calgary, and the Trico Group and is an advisor and mentor to dozens of entrepreneurs. Ray holds a Bachelor of Mathematics degree in Computer Science from the University of Waterloo and a Master of Business Administration from Wilfrid Laurier University. Ray was named as one of three finalists for the national BDC Mentorship Award and was the recipient of the Calgary Chamber of Commerce Volunteer of the Year Award.
Diana Grant-Richmond, Associate Director, Student Programs
Diana is a graduate of Mount Royal’s General Management program (2017), a former founder, a LaunchPad alumna, and an experienced mentor. She is passionate about entrepreneurship, volunteering, social innovation, technology, and supporting femaleidentifying innovators and entrepreneurs, particularly in creative disciplines. Diana brings 14 years of experience in entrepreneurship, finance, and energy to her role.
Entrepreneur Development Officers
Erin Creegan-Dougherty
Sydney Harder
Tianna Going
Student ContributorsStudent Programs
Dawson Bainbridge
Kyla Isidro
Taylor Amy
Bronwyn Williams
Calem Davis
Courtney Arndt
Aiden Paschyny
Aliya Abdullah
Brooke Armstrong
RESEARCH PROJECTS
Dr. Simon Raby, Associate Director, Director Growth Compass, Academic Director, Growth Catalyst
Simon is Associate Professor of Entrepreneurship at Mount Royal University in Calgary, known for his exceptional contributions to the field of innovation, business growth and scaling. He is the Founder of Growth Compass, a cuttingedge center of excellence that conducts research on business growth and scale-up challenges. As the Academic Director for Growth Catalyst, Simon leads an executive education program that helps CEOs and senior leadership teams develop and execute innovative growth strategies. Simon is also an accomplished author, widely recognized for his popular works on the drivers of scaling up, innovation and growth. He expertly distills the latest evidence into best practice guides for leaders, making his work internationally renowned for its quality and innovation. Simon holds both a master’s and a doctorate degree, which he earned while working full-time to help companies scale up. Additionally, he is a qualified coach and facilitator, bringing an added dimension of expertise to his work with businesses and leaders.
SCALE-UP AND GROWTH PROGRAMS
Pete Fenwick, Director, Scaleup and Growth Programs
Pete is Director of Scale-Up and Growth Programs where he and his team support established leaders of small to medium-sized businesses who ambitiously seek to take their company to the next level of performance. Previously, Pete ran corporate planning for GE Healthcare Canada and the innovation portfolio of Alberta Health Services. Pete is a known innovative mind and influencer in the Canadian health sector with a unique view on strategy given his experiences inside technology firms, health service delivery providers, the center of government, and private insurance.
He currently serves on the Board of Imagine Citizens Network, and the advisory boards of Wosler Diagnostics and My Normative (a data science and women’s health company). He was on the founding team of the clinical software firm DEIO which was sold to GE. Pete holds a Bachelor of Applied Science in Mechanical Engineering from Queen’s (Kingston), and an MBA from the joint Kellogg-Schulich program between Northwestern (Chicago) and York (Toronto).
Scale-up and Growth Team
Dr. Simon Raby, Academic Director
James Levy, Client Acquisition Lead
Gabriela Touma, Operations Lead
Pablo Garcia, Operations Lead
Jack Barnett-Ritcey, Program Coordinator
Emily Robitaille, Design Lead
Dr. Toktam Salari, Thought Leadership
Brittney Roy - Ecosystem & Recruitment Lead
Caitlin McCarthy - Program Coordinator Intern
Kassidy Gerhardi - Marketing Coordinator
