Why We Built Our Startup In Canada
I get asked quite a lot why we started Beatdapp in Canada. To know me is to know that I’m an unapologetically proud Canadian.
That’s a caveat to this post because patriotism alone probably isn’t the best reason to pick where you start a company. That out of the way, let me tell you three reasons why we chose to make our home north of the 49th 🇨🇦
1. Finding Good Talent
Talent: I post this (virtually) surrounded by impressive graduates from UBC, SFU, BCIT, UVIC, Wilfred Laurier and TWU. Canada develops exceptional technical talent capable of creating world-leading IP, not all of whom want to move to the Valley (or the new valley, Miami, h/t Francis Suarez).
So it’s our privilege to build with these talented folks from the place we all call home.
2. Access to Capital
Strategic Capital: Let me take you back to 1962 & 1985 for a second. John Diefenbaker and Brian Mulroney were our Prime Ministers, Ray Charles and Whitney Houston topped the charts, and the IRAP and SR&ED programs were introduced in Canada.
The National Research Council of Canada Industrial Research Assistance Program (IRAP) is Canada’s leading innovation assistance program for small and medium-sized businesses (SMBs) - full article
Fast forward to 2020, and these two programs are still providing, as intended, an early lift to companies like Beatdapp, operating in Canada, developing IP domestically, and commercializing that technology globally 🌍
3. Communities that Help Us Scale
Community: We’re proud graduates of CDL & the C100, two world-class, made in Canada programs for early and growth stage tech companies.
We launched Beatdapp in no small part thanks to the encouragement and support of the folks at BC Tech, New Ventures BC, and so many more. Our first investor, our lead investors (Panache and Andre Charoo), and more than half our advisor board have enjoyed success globally as leaders in their respective fields, and call Canada home.
Starting a company means making lots of little decisions in the earliest days, the consequences of which might not be immediately apparent.
Deciding to build Beatdapp from Canada is one decision we’re sure glad we made.
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As always, I’d love to hear if this post sparked any thoughts or questions from your side. So if you have anything you want to share, please add them in the comments below!
If you wanna learn more about my take on leadership, startups and what I'm learning scaling Beatdapp, follow me here.
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Morgan Hayduk is the Founder & Co-CEO, Beatdapp. He previously held roles at ZipRecruiter, LA Clippers and TELUS. He's helped scale Beatdapp to be recognized as a Top 20 Music Company Globally by Crunchbase. His goal is to build transparency in the entertainment industry.
#Marketing #Startups #Culture
Commercial Account Manager @ Desjardins | Expertise in Business Financing
4yBill Vo why Canada makes sense for Amanotes
President, Remillard Consulting Group
4yThe public policy environment(SR&ED,IRAP,SDTC plus numerous other initiatives around incubators and accelerators) has been quite supportive of startups(though some would question the cost-effectiveness of a program like SR&ED). On the other hand, once startups grow then so do the challenges - for instance, a significant percentage of higher-growth, medium size firms tend to end up in foreign hands - being bought either by US funds(a Kayne Anderson or Insight), US strategics (Google, Amazon) or via a listing on a US stock exchange. Paradoxically, this attractiveness to later-stage foreign investors may in part explain the very attractiveness to startups of locating in Canada as founders think ahead to exits....
Ambassador of Canada to Japan. Canada’s Special Envoy to the Indo Pacific
4yGreat story, Morgan - thank you for sharing this. Your experience, and your recognition that talent, capital and community were key drivers to your decision to launch in Canada are well noted. And one of the first questions global investors ask, when considering where to deploy their capital, is "how robust is the startup ecosystem?". Increasingly, the answer is a story like yours.
Financial Markets | Investor | Co-founder
4yIan G. McKay
Founder | SaaS Solutions for Better Customer Experience
4yCongratulations and thank you for choosing Canada. I hope your story inspires many more to follow