About Katherine Korakakis

Katherine has spent most of her life working alongside start-ups in various verticals. For 10 years, she was responsible for the development of entrepreneurial initiatives and projects under the auspices of the Youth Entrepreneurship Challenge, a Youth Secretariat program of the government of Quebec. She has authored and co-authored guidebooks on entrepreneurship education. Katherine first developed her passion for building businesses when she co-founded Glambiton. She was instrumental in the development of the first National Entrepreneurship Day for the province of Quebec. Katherine has served on the Boards of numerous non-profit organizations and currently sits on PMEMTL Centre-Ouest and EPCA. She sits on the investment committees of PME MTL Centre and PME MTL Centre-Ouest. These entities are the decision making bodies with regards to business financing with the city of Montreal. She currently is Manager of Entrepreneurship for ProMontreal Entrepreneurs (PME), an early stage VC fund and entrepreneurship program that invests in multiple verticals. The fund has a social business model and has been around for 20 yrs.Katherine has spent most of her life working alongside start-ups in various verticals. For 10 years, she was responsible for the development of entrepreneurial initiatives and projects under the auspices of the Youth Entrepreneurship Challenge, a Youth Secretariat program of the government of Quebec. She has authored and co-authored guidebooks on entrepreneurship education. Katherine first developed her passion for building businesses when she co-founded an entrepreneurial training event for girls called Glambition. She was instrumental in the development of the first National Entrepreneurship Day for the province of Quebec. Katherine has served on the Boards of numerous corporations and currently is the vice-president of PMEMTL Centre-Ouest and president of EPCA. She sits on the investment committees of PME MTL Centre and PME MTL Centre-Ouest. These entities are the decision making bodies with regards to business financing with the city of Montreal. Katherine is the Manager of Entrepreneurship at Ometz an early stage VC fund and entrepreneurship program that invests in multiple verticals. The fund has a social business model and has been around for 20 yrs.

27Jul
How Businesses Can Use Snapchat to their Advantage

How Businesses Can use Snapchat to their Advantage If a prize could be awarded to social media of the year, it would without a doubt go to Snapchat. Just 2 years ago Snapchat was only used by a few avid users. Last year, though benefiting from a quickly increasing user base, it was viewed as a platform for people and not businesses. Snapchat today is not what it was a year ago, let alone 6 months ago. Just download the app and have a look. Acclaimed magazine publications, major televised events, and diverse businesses have found comfort in the social network. If your current marketing plan does not include Snapchat, you should seriously reconsider.

Snapchat is based on a very simple concept. You send a picture or a video to your contacts, they watch, and it disappears forever. Given that Snapchat’s primary user base is people between the ages of 13 to 25, and the fact that 77% of North American college students have Snapchat, this platform gives you access to a great pool of potential customers. As of May of 2016, Snapchat users spend between 25 to 30 minutes a day on Snapchat. Considering that most Snaps last only a few seconds, this is a tremendous amount of time to be spending on a social platform. So as you can see, the question is not whether or not you should be on Snapchat. The question is how you can operate your business’s Snapchat account in order to yield the best outcome. How do I get users to follow me? How do I get them to my company’s website? How often should I post a Snapchat story? These are just a few questions that can be running through your mind at this moment. Lucky for you we’re here to give you some input.

When looking at all the start-ups that have successfully promoted themselves and attracted new users on Snapchat, there is one common theme. When creating content, they do not focus on sales. They focus on storytelling and having people get to know their brands. Very rarely will you see a successful brand promoting their prices, specials, or discounts on Snapchat. The last thing millennials want is yet another blatant commercial. Story telling on Snapchat is a challenge, because you have just a few seconds to stand out. But there are different ways of doing this. Some successful start-ups such as MeUndies, come up with storyboard, plots and filming locations in order to keep their followers on their feet. Other businesses use Snapchat as a way to give people a glimpse of what happens behind the scene and share their company culture.

Snapchat geo-filters can also be used to your advantage to help market your business. You can create a customized Snapchat geofilter for areas that surround your headquarters, work base, or stores. Snapchat geo-filters can help in a few different ways. Firstly, they can increase the awareness of your brand amongst people in your surrounding areas. Secondly, they can drive people to your location in order to consume (if such is the case). Last but not least, your company name will be exposed to the various contacts of those who are posting your (hopefully) cool geofilter on their snapchat stories.
Aside from the features that Snapchat explicitly offer, there are unique ways of coming up with content. Giving a different employee an opportunity to snap pictures and videos everyday can help with showing different perspectives of what goes on behind the scenes. Additionally, you can add incentive for people to follow you. Many companies have included contest giveaways, scavenger hunts and couponing to their Snapchat Stories.

The great thing about Snapchat is that it’s probably the most casual way you will ever be able to interact with millennials. Though Snapchat doesn’t offer detailed analytics or graphs on the people who view your Snapchat stories, there are a few important metrics you should be paying attention to in order to measure your progress over time. Snapchat is constantly changing, and as it grows is continuing to offer more opportunities for businesses. The market access it offers is just too great for any entrepreneur to ignore.

8Jul
Top 3 Reasons to Attend the International Startup Festival

01_PME Blogpost Everyone knows that the beginning of a Montreal summer also means the beginning of festival season. However, unlike most festivals in the city, The International Startup Festival offers much more than just a good time. Welcoming the world’s top entrepreneurs, founders, investors and mentors, this festival is prime destination for anyone wishing to learn more about the experiences of some of today’s most creative minds. Harry Finkelstein, COO of Shopify, Alexis Ohanian, Co-Founder of Reddit, and Deepa Kunapuli, White House Digital Strategist, are just a few of the big names that will be in attendance. From July 13th to 16th in the Old Port, The International Startup Festival will provide a good and needed dose of unconventional and valuable learning that can help you take your start-up to the next level.

1. BUILD YOUR NETWORK

The Startup Festival’s tent village allows for authentic interaction between all festival goers. Meeting fellow entrepreneurs, key note speakers, and investors in a casual setting is a great way to build your network. Taking a step back from your smartphones and connecting with those around may very well lead you to your next investor, business partner or employee.

2. PITCH YOUR IDEA

If you dare to be bold, pitching your idea at the International Startup Fest can offer numerous advantages. This year 12 startups will get the opportunity to pitch in front of a live audience and panel or experts on the interactive stage. Not only does this give you a great opportunity to practice your public speaking abilities, it also comes with great visibility for your brand.

If you’re not one of the 12 startups pitching on the interactive stage, not to worry! Startup Fest also hosts numerous competitions with monetary rewards up to $200,000.

3. UNFORGETTABLE & UNCONVENTIONAL
Start-up fest is the biggest start-up event in all of Canada. It brings together investors, mentors and founders from some of the worlds hottest start-up cities. This is your opportunity to learn from the worlds best. They have either done what your looking to do or are doing it. What makes the event memorable is the best practices and know how that are shared and the collaborative environment that the organizers create.

4Jul
Top 3 Networking Spots in Montreal this Summer

02_PME Blogpost If you are an entrepreneur looking for networking opportunities in Montreal this summer, you are definitely in the right city. Whether a casual or formal setting, Montreal offers numerous opportunities for you to make new contacts and learn more about different industries in the startup world. Here are the top 3 events you should definitely visit this summer.
1. STARTUP DRINKS MONTREAL
If you enjoy socializing and having drinks with people who share your love and passion for startups, Startup Drinks Montreal is the place for you. This event happens on the last Wednesday of every month. This casual get together is one of Montreal’s longest standing events in the startup community. It’s an ideal place to meet new entrepreneurs, professionals, and students looking to learn from internship opportunities. No speakers, no agenda, Startup Drinks Montreal prides itself on its layed-back approach to learning from the experiences and interests of those in attendance.

2. INTERNATIONAL STARTUP FEST
The International Startup Fest is one of the largest startup event Montreal’s summer has to offer. Attracting people from different parts of the world, and some of the world’s most successful entrepreneurs, this festival should be at the top of your destination list. Happening from July 13th to July 16th, attendees will have opportunities to pitch, listen to experienced and accomplished speakers, learn about new startups, and connect with one another in the tent village.

3. JEUNE CHAMBRE DE COMMERCE- RESEAU DES JEUNES ENTREPRENEURS
The end of summer does not mean the end of prime networking season in Montreal. On September 1st, the Jeune Chambre de Commerce de Montreal will be hosting its training session for Reseau Jeunes Entrepreneurs (Young Entrepreneurs Network). By joining this network you will be presented with countless opportunities to meet other startup founders, coaching on market knowledge, and collaboration on different entrepreneurial projects.

These are just a few of our favorite hangouts this summer. Fortunately for you there are things happening almost every day in Montreal’s start-up community. Check out the Montreal new tech and start-up calendar for more!

3Jun
Stephen Bronfman CoFounder PME

http://maximum-impact.co/stephen-bronfman-entrepreneur-investor-philanthropist/

Allan Isfan interview Stephen Bronfman at C2MTL

Stephen Bronfman, ProMontreal Entrepreneurs(PME) co-founder, sat down with Allan Isfan from Maximum Impact and had a short chat . They discuss entrepreneurship and the various Montreal based initiatives his foundation is supporting with a particular focus on ProMontreal which he help start 16 yrs ago along with Jimmy Alexander.

He recorded this podcast at the C2 Montreal conference, an incredible conference that the Economist, coined as “the business conference unlike any other”. Approximately 5,000 attendees from all corners of the world come to Montreal to network, experience new things and learn from speakers like Mohammad Yunus, Chip Conley , David Suzuki and Stephen Bronfman.

To hear the podcast it it’s entirety, click here

Hope you enjoy.

29Feb
Mentorship for Entrepreneurs

PME funded business Main & Local talks about their experience with mentors.

There comes a time in every entrepreneur’s career when they are unable to make a decision or simply don’t know what to do, and require a certain amount of guidance. Asking for guidance is perfectly normal, but you must make sure you ask the right people. That is where mentors come in: a mentor is a successful professional that has experience in your industry, and helps your start-up by providing counseling and guidance.

Why do I need a mentor?

Getting a mentor can help you avoid some failure and will significantly shorten your learning curve: if you are unsure about which direction to take, you can ask your mentor instead of trying to do it yourself, and possibly doing it wrong. A mentor will also guide you. Sure, you are your own boss, but you still have to deal with investors, customers, and suppliers, so having a relationship with a mentor will increase your circle of confidants. Being an entrepreneur can also get quite exhausting emotionally and mentally: when you need support, you will always be able to turn to your mentor. If you are too emotionally invested in your start-up and can’t see things objectively, your mentor will be able to provide you with a fresh perspective.

Where can I find a mentor?

Note that some mentors work for free, under a volunteer model. Here are some examples of organizations that can help you find a free mentor:

ProMontreal Entrepreneurs: we match our mentor’s experiences to the needs of our mentees, and forge long-lasting relationships.
Yes Montreal: To apply to this mentorship program, you must be referred by a business coach. Yes Montreal mentorship provides entrepreneurs with a continuous mentorship relation for at least a year.

Other mentors require money for their services. The argument here is that mentors who have a monetary incentive are able to give better advice, and have better connections that they can introduce you to. Again, here are a couple of mentorship programs that function according to the paid model:

Highline: this organization offers a paid package where entrepreneurs can benefit from office space, mobile education, and access to a variety of mentors.
DreamIT: DreamIT is an accelerator that offers 3 to 4 month programs that include funding, training, and mentorship for experts across the United States.

I want to be a mentor. What’s in it for me?

Above all, there is the altruistic experience of helping a young entrepreneur seeking guidance and sharing your knowledge. Although this is a little cliché, changing an entrepreneur’s life can very well make your own life better. Furthermore, you never know where the relationship will take you: you might be pleasantly surprised. Many times mentors learn as much as the mentees do!

Apart from benefiting your own karma, mentoring will also benefit your career. Mentors are seen as more respected, knowledgeable professionals. You will improve your reputation in the business world, and will likely make new contacts that may be able to help you in the future.

Sounds tempting, right? If you are interested in becoming a mentor, why not consider ProMontreal Entrepreneurs. Our simple online application will get you mentoring young entrepreneurs in no time.

28Jan
Your Logo & Your Startup

What message is your logo sending to people? Is it aligned with the message you are trying to send? Colors, shapes and even font play a role in design elements. When you are at the stage of creating a logo for your start-up, you should considered your logo as an important tool in building your brand. The Infographic below created by Canadian plastic-card maker Colourfast, can give you a good sense of whether your logo is conveying the message you are trying to send.

20Jan
7 Ways To Get Funded

7Jan
Risk-Taking in Business

Any person who has ever achieved anything meaningful would most likely agree that success requires dedication, hard work, sacrifice and risk taking: nothing comes easy and nothing is simply given to you.

The ability to take on inancial risk is very important when it comes to finding investors. When you ask an investor to invest in your start-up, you are essentially asking them to take a risk. If you, in return are not willing to take any financial risk, your investor won’t do so either. The ability to tolerate risk shows confidence, a quality that investors certainly consider. Furthermore, this helps you build a relationship of trust between your start-up and investors.

If you do not invest any of your own money into your business, this shows external investors that you are not confident about your start-up, and that you are not committed to its growth. If you are not confident in your product, don’t expect the investor to be.

It is true that not all risks end up in a great rewards: risks can sometimes lead to failure. Although this can result in financial setbacks, it is also an opportunity to learn from your mistakes. Sometimes, a financial setback can open new paths for your business, or provide you with different opportunities. Keep in mind that failure is not final. Business consultant Steve Siebold claims that “the bigger [entrepreneurs] are, the more they’ve typically failed”.

At some point, every start-up will have to deal with risks. They are an important tool to build relationships with investors, and can lead to significant economic growth. Remember that taking risks does not mean being careless: do your homework, understand the potential gains or losses, and analyze the situation before making a decision.

24Nov
Working in an Incubator

Jonathan Bercu of PME-funded business “Tryb” discusses the pros and cons of working in an incubator.

Bootstrapping can be beneficial for some entrepreneurs: it teaches them how to spend wisely, lets them make more profit, and lets them keep full control of their company. However, this approach does not work for everyone, and some startups prefer to work in incubators.

Incubators are organizations designed to help the development of startups by providing them different services, from management training to co-working space. However, there is a competitive admission process, and every incubator has its own criteria and requirements, as well as types of help they will provide to your startup; things like mentorship, expertise, access to investors, and in some cases, working capital in the form of a loan. This shows, once more, that you must do your research to find the incubator that is right for you. Before you apply however, here are some pros and downsides to consider about entering an incubator.

Pros

Using the shared working space and supplies provided by an incubator, allows you to reduce your overhead while you grow.
Networking: if you have a problem that is just to difficult for you to solve, you will have a multitude of peers in your incubator to help you out. In an incubator, you can work with other entrepreneurs and learn for their mistakes before you make them yourself.
Incubators also provide training and other resources for you to grow your business. You will have access to seasoned mentors that can give you advice and insight and they will challenge you with questions, you never though of asking yourself.
Incubators can help you identify resources in your area, be it human resources, government programs, or financing. You will be able to discover lots of new opportunities that can grow your start-up.

Downsides

Office space will be free, but it also has its downsides: you will have adapt to your environment, and there will be lots of distractions.
The application process can be rigorous and competitive. For most incubators, an applicant is required to submit a detailed business plan.
Some incubators will tempt you with high promises and great opportunities, but will not deliver. Others will impose different conditions such as equity, for example. Speak to entrepreneurs who are already in the incubator to gain a first-hand review.
Many incubators require a time commitment and a adherence to the schedule set by the incubator, which can include many training’s and workshops. Yes, you will learn a lot, but you’ll also spend a fair amount of time doing it.

If the downsides of applying to an incubator are too much for you to handle, you can stop reading this post and make more productive use of your time. If, however, joining an incubator is something that interests you, here are a few good places in Montreal:

District 3

District 3 is located at Concordia University and offers office space, startup programs, as well as one-on-one coaching. District 3 offers a place for entrepreneurs, creatives and engineers to come together and develop their startups.

Centech-ETS

Centech is an incubator that offers financial aid, office space, and specialized training to tech startups. Being a start-up at Centech will also provide you will access to different tech events across the city, as well as an annual golf tournament!

InnoCitéMTL

This brand-new accelerator and incubator is aimed at making Montreal a model digital city, and ties closely to Denis Coderre’s Montreal Smart City plan. It offers pitch and demo sessions, and provides workshops, funding, and office space for its startups.

McGill X-1

McGill University’s new X-1 accelerator program, is an intensive 10-week summer program to learn the skills to become better entrepreneurs. The program is composed of a speaker-series, mentorship, workshops, advisory board meetings and time-to-build hours. The three core pillars of the program focus on customer relations, the product and the business model.

These are just a few of the incubators available in the city of Montreal. If none of these tickle your fancy, consult a full list of Montreal incubators by downloading our entrepreneurship guide. Remember to research the incubator that is right for you, in order to maximize the benefits of growth and experience for your startup.

13Oct
Mastering Your Elevator Pitch

An elevator pitch is an ice breaker that will hopefully lead into a deeper dialogue about yourself and your start-up. It should be delivered in 60 seconds, the average time of an elevator ride. Your main goal in this pitch is to convey important information about yourself and your business, and encourage questions and interest from your prospect. Since you have a tight time frame, you should rehearse your pitch a lot! Ideally, your elevator pitch should be separated in 5 parts:

Who you are: “My name is Katherine and I’m the Program Manager at ProMontreal Entrepreneurs.”
What you do: “I provide coaching and information on the entrepreneurial ecosystem for start-ups in Montreal. I also manage a start-up fund.”
Elaborate: “I have guided [business name] since their very beginning, and I have helped them with identifying investors and setting them up with amazing mentors. Years later, they are one of the most competitive companies in their field.”
Leave them wanting more. Elevator pitches are meant to be short, so don’t try to pack in too much. Just enough to peak curiosity and hopefully have a follow-up meeting.
Closure: Stay in touch. Give out a business card and send them an email about something that helps them. “I really enjoyed meeting you. Here is my card, I’ll be sure to send you the address to that restaurant I was talking to you about.”

These are the basic guidelines for a successful elevator pitch. Here are some dos and don’ts to help you build a good pitch:

State some names: universities, awards, business name: you need to give the listener something to remember you by. You should try to say your business name a few times in your pitch.
Show your excitement and enthusiasm about your start-up. Be positive. State your goals, accomplishments, and positive experiences. Don’t say negative things about past projects, employers or other start-ups.
Be confident
End with a question. Your elevator pitch is not a one sided monologue, it is an interaction. After your presentation is over, ask a question to the person, including them in the conversation.

Don’t

Sound rehearsed. Your elevator pitch should sound like a conversation, not a prepared speech. Be natural
Don’t hesitate to develop different versions of your Elevator Speech for different situations and audiences.
Speak for too long. Your pitch should be one minute long at the most. The more you talk, the more chances you have of boring the other person.
Don’t forget to include your competitive advantage also known as your Unique Selling Proposition (USP)
Try to sell your product. This is where people will lose interest in you. An elevator pitch should, once again, be conversational: you don’t want to put any pressure on your prospect, or make them feel like you are trying to close a sale.