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.

29Sep
How Small Businesses Can Promote Themselves on TikTok

How Small Businesses Can Promote Themselves on TikTok. You might be wondering if an additional social media page is necessary for your small business and if promoting your business on Tiktok can help. TikTok appears to be more of a platform for funny lip-sync videos than a place to market products and services. However, there is a lot of opportunity for small businesses and new brands to use TikTok to reach their target audience in a fun and creative way.

Let’s go over some ideas and examples for the material you may share on TikTok to help promote your small business.

Videos of daily activities.

Firstly, posting videos of your company’s daily operations is a great way to start. These videos show visitors how work is done there. If you take this recommendation, you should create a DVD that details your company’s typical activities and focuses on the tasks that are considered to be the most vital. As a result, this will help your customers understand what it’s really like to be a small business owner.

Highlight your staff.

Employee spotlighting gives your brand a face and showcases the people behind your products and services. Can each member of your team make a video introducing themselves? Or are you a family-owned company? Give your customers a chance to meet the individuals that run your company.

Inform your audience.

On TikTok, you can provide material to your audience that educates them about your industry or expertise. If you’re committed to learning and helping others, you’ll gain credibility, and people will return to you for your honesty.

Share content that reflects your brand.

Essentially, content that demonstrates a brand or business’s values performs best on social media and has the third-highest ROI. In addition, customers are more aware than they have ever been of the charitable organizations that the companies they favor provide financial support for. As a direct result of this increased awareness, customers factor in this information when making decisions about what goods and services to acquire from those businesses.

Considering this, demonstrating your brand’s values on TikTok is an effective way to engage your audience. Thus, people who share your beliefs will take note, and you may be able to convert them into clients.

Idea.

Was there a particular event or circumstance that inspired you to develop the concept for your business? How did you think about your little business?

Production process.

Demonstrate to customers the process of making your products. It shows your commitment to creating value by displaying the time, effort, and attention you put into your work.

Product How-To

Have an excellent procedure for producing your products? With the help of a brief instructional video, show your customers the process of making your goods and services.

Answer Questions

Above all, a great way to engage your audience and develop relationships is by responding to questions. For instance, you can use TikTok’s built-in Q&A function or make videos that answer customer questions.

Protip: use this as a means of understanding the issues clients are having with your business. Particularly, if the same questions are coming up, you may need to update your FAQ page or add new information to your website.

Demo’s

Lastly, small businesses can utilize video to teach customers how to use their items properly.

The video suggestions above are all great tips on how small businesses can promote themselves on TikTok.

12Sep
Strengthening Communities Through Investment: A Montreal Case Study.

Anchored in the fabric of community, Federation CJA acts as the cornerstone, fortifying the ties that bind. It goes beyond mere financial contributions; it is a steadfast commitment to safeguarding each investment as a resounding testament to standing up for the community.

Building a thriving, sustainable future is not just about global initiatives and sweeping policy changes. The most meaningful impacts often originate from the grassroots level in local communities. This blog post explores the benefits of investing in local communities using Montreal’s vibrant Jewish community as a sterling example. We will underscore how such investments are not only morally compelling but can also yield substantial commercial returns.

Why Investing Locally Matters

Investing in local communities is more than just a benevolent act; it is a long-term strategy that strengthens social fabric and promotes economic vitality. When we invest in local businesses, education, housing, and infrastructure, we empower individuals to participate actively in their communities, fostering social cohesion, encouraging self-reliance, and generating economic prosperity. This investment extends beyond the realm of economics, nurturing a sense of belonging and collective identity that enriches the culture and vibrancy of our neighborhoods. Federation CJA’s commitment to community-building resonates deeply here, as the organization tirelessly works to create opportunities that enable individuals to thrive within their local contexts.

Montreal’s Jewish Community: A Testament to Local Investment

Montreal’s Jewish community offers a powerful example of the transformative potential of local investment. This diverse community, one of the oldest and most significant Jewish populations in Canada, has a rich history marked by a robust tradition of communal support and investment.

With the support of Federation CJA, the community has invested heavily in institutions that preserve and promote Jewish heritage and identity. Synagogues, community centers, and schools serve not just as hubs of religious observance but as vibrant cultural centers that cultivate community spirit and foster the transmission of traditions across generations.

One standout example is the Segal Centre for Performing Arts. This Jewish cultural institution offers a wide variety of artistic programs, fostering creativity and serving as a gathering place for people of all backgrounds. Its success is a testament to the power of investing in cultural institutions that elevate community identity and stimulate local economies.

The Commercial Upsides of Community Investment

Contrary to some misconceptions, investing in local communities does not mean sacrificing profitability. Instead, such investment often stimulates economic growth, creating a virtuous cycle of prosperity. When businesses invest in the communities they serve, they earn customer loyalty, encourage local spending, and contribute to the area’s economic resilience. This approach aligns with Federation CJA’s multifaceted strategy of promoting community resilience by supporting local businesses and amplifying their impact and reach.

Local businesses in Montreal’s Jewish community illustrate this phenomenon. Bagel shops like St-Viateur and Fairmount, beloved institutions of Montreal’s culinary scene, have thrived by maintaining deep roots in the local community. Their success has spurred local employment and tourism, contributing significantly to the local economy.

Moreover, the Jewish General Hospital, a cornerstone of Montreal’s healthcare system, exemplifies how investment in local infrastructure can reap commercial benefits. This institution, founded by and for the Jewish community, now serves a broad demographic, earning revenue for its services while fulfilling a critical community role.

The Moral Imperative

Investing in local communities carries a potent moral resonance, too. It reaffirms our shared responsibility to uplift those around us and cultivate spaces where all members can thrive. Such investments echo the Jewish concept of ‘tikkun olam’ or ‘repairing the world,’ which calls for actions that improve society.

This ethos is evident in initiatives like the Jewish Community Foundation of Montreal, which receives vital support from Federation CJA, supporting various causes, including education, healthcare, and social services. By investing in these areas, the foundation has been able to address inequalities and create opportunities, making Montreal a better place for all residents.

Conclusion

As demonstrated by Montreal’s Jewish community, investing in local communities is a powerful tool for cultivating social cohesion, stimulating economic growth, and reinforcing moral values. Whether supporting a local business, contributing to community infrastructure, or donating to a community fund, each act of investment can make a significant difference.

So, as we move forward, let us remember the Montreal Jewish community’s story. Above all, it’s about how building a brighter future begins at home, in our local communities. It’s a story of investment—of standing up for the community. Your next investment could be the catalyst that transforms your community and, by extension, the world.

21Aug
How to Growth-Hack Your Startup to Success

How to growth-hack your startup to success. The most crucial area of marketing for start-ups is probably growth-hacking. It provides a marketing framework that may generate a high return on investment with few resources. This is essential for early-stage start-ups due to their limited access to resources.

The core foundation of growth-hacking is virality. As such, if you want to get good results, you must count on those who hear your message to share it with others. While a variety of growth-hacking strategies can assist you in becoming viral, the fundamental ideas are what matter. Below you will find key ideas on how to growth-hack your startup to success.

1. Promotion and development go hand in hand

The typical corporate structure and the division of labour in most traditional organizations create a clear divide between tasks like product development, marketing, and design. However, as a result of this, small start-ups can suffer. One of the leading causes of startup failure is premature scaling. A great example of this would be pouring part of your limited resources into a product before product-market fit.

Growth-hacking can help with this since it doesn’t view startup marketing as something that exists in isolation. Instead, it views the creation and popularization of a product as a whole and it makes use of contemporary digital resources to accomplish this.

Being flexible is one of the advantages of startups over a large company. When a product’s level of complexity is still low, tweaks are simple to make.

So, if the item you produced is difficult to sell, the solution from a growth-hacking standpoint isn’t always to “sell ” it harder or in a different way. Instead, it may be beneficial to return to product development mode and ensure that what you are selling addresses a real need for a real set of people. When you achieve product-market fit, marketing your product to these customers should come naturally and without effort.

A repeating cycle of creating, selling, getting feedback, reiterating, and reselling leads to a better product and greater growth.

2. Create something worthwhile to spread

Even if a product is excellent, this does not necessarily mean that consumers will be eager to spend their social capital promoting it.

You typically need to provide people with a bigger incentive to do this in order to get the desired result.

One of the best examples is Dropbox’s referral program, which rewards customers with more storage space for introducing friends. Dropbox increased by 3900% with the aid of this program.

Moreover, there are various approaches that can help you get the same result. For instance, if you’re conducting a closed beta, giving users a limited number of invites to share with their friends can boost the perceived value of each invite and generate a sense of scarcity.

The consumer’s motivation for spreading your content should be built into the product, regardless of the strategy chosen (or piece of content). If your K-factor is greater than 1 (i.e., the average consumer recommends your product to more than one additional person), your growth rates will start to compound very quickly.

3. Put conversion and retention first

Finally, your product must encourage, but also capture and profit from ever-increasing popularity if you want to achieve virality.

A skilled growth-hacker is not deceived by meaningless statistics like website visits and share counts. These things are wonderful, yet they are only surface-level. The attention you can attract is ultimately important, but only if it results in actual business growth.

In conclusion, a startup founder must have a growth-hacking mindset because it is crucial for both product development and marketing.

Focus on bringing in and measurably keeping clients rather than developing your brand. Use a scientific approach with exact tools and quantifiable outcomes. Continuously improve your product, reach your target audience, and incentivize your consumers to stay and spread the word.

7Aug
How to Craft an Investor Update

Crafting an investor update can, at first glance, seem like a challenging endeavor, but let’s demystify the process. As a budding entrepreneur, understanding that this task is a crucial element in maintaining a transparent and symbiotically beneficial relationship with your investors is key. It’s not merely a corporate requirement; it’s an exceptional opportunity for you to pause, look back at your journey, pinpoint any stumbling blocks you’ve encountered, and envision a path forward. This guide is designed to help you navigate this seemingly complex task with ease and efficacy.

We’ll kick things off by digging into why these updates are so important. Regular and clear communication with your investors provides a peek into the engine room of your business. This allows them to spot potential hurdles and golden opportunities, sometimes before they even become apparent to you. This proactive participation not only keeps them actively involved but also engenders a feeling of mutual advancement and success. Moreover, there’s compelling data backing up the importance of these updates – according to research, startups that offer regular investor updates are three times more likely to receive additional funding from existing investors. So, it’s crystal clear; crafting effective updates isn’t just a polite gesture, it’s a strategic move that could positively influence your venture’s durability and expansion.

Understanding the significance of these updates, let’s delve deeper into their composition. Your guiding principles should be simplicity, brevity, and clarity. An investor update need not be a lengthy or elaborate document; in fact, a well-crafted update can be as succinct as it is insightful. Here’s a suggested framework to help you structure your updates:

1. Highlights: Kick off your update by sharing the positive strides you’ve made since your last check-in. These could be critical milestones reached, new clients brought on board, innovative features unveiled, or any other accomplishments indicative of forward momentum. Remember, your investors are looking for signs of progress, so take this opportunity to showcase your wins.

2. Lowlights: This is your chance to demonstrate your transparency and resilience. Share the difficulties currently on your plate, and elucidate the strategies you’re utilizing to surmount them. This forthrightness not only bolsters trust but also exemplifies your proactive approach towards problem-solving.

3. Asks: A golden opportunity lies here to leverage the collective wisdom and far-reaching networks of your investors. Whether you need introductions to potential customers, help with recruitment, or advice on a critical issue, make your requests here. Remember, specificity is crucial – the clearer your asks, the better your investors can assist you.

4. Thanks: A simple but essential gesture – acknowledge the investors who’ve lent a helping hand with your previous asks. This not only promotes active participation but also nurtures a feeling of community and shared victory among your investors.

5. Customer Story: Add a vibrant splash of human interest by incorporating a compelling customer story. This breathes life into your product or service, showcasing its impact in the real world and resonating emotionally with your investors.

6. KPIs: Wrap up your update with key performance indicators, restricting yourself to five or six vital metrics. These could be revenue figures, headcount, runway, or a “north star” KPI that suggests future earnings or traction.

As for how often these updates should be sent, it largely depends on your startup’s stage. If you’re in the very early phases, consider weekly updates. As your venture finds its footing and matures, transition to monthly updates. Once you’re a growth-stage company, a quarterly rhythm usually suffices. Investor updates aren’t mere paperwork; they’re a fundamental aspect of demonstrating to your investors that you’re an engaged entrepreneur and a responsible custodian of their capital. It’s a mechanism that builds trust, stimulates open communication, and ensures swift intervention can be taken if things are veering off course. Your investors are not just check-writers; they are partners on this exhilarating journey. They can provide invaluable help and guidance when they’re in the loop, regardless of whether the news is upbeat or somber.

So there you have it. Crafting investor updates isn’t just a mundane task; it’s a process of introspection, communication, and active engagement. It’s about showing your investors that you genuinely appreciate their partnership and are dedicated to keeping them involved in your voyage. With these guidelines, you’ll find this task less intimidating and much more rewarding.

25Jul
Title: A World in Transition: ProMontreal Entrepreneurs at the 29th Conference de Montreal

In June 2023, PME had the privilege of attending the renowned Conference de Montreal organized by IEFA. Discover how PME embraced the conference’s central theme of “Thriving in a World in Transition” and engaged with global leaders, entrepreneurs, and diplomats to forge valuable connections and exchange insights.

The conference’s opening day buzzed with intellectual energy as PME joined diverse attendees in the bustling main hall. The introductory session echoed the central theme, opening discussions on pressing issues like inflation, the COVID-19 aftermath, and carbon neutrality. The session’s panel featured H.E. Sultan bin Saeed Al-Mansoori, the Emirati ambassador to Canada, and Mr. Boon Chye Loh, CEO of the Singaporean Stock Exchange (SGX). They shared their distinctive experiences of adversity management, providing PME with invaluable wisdom.

While comprehensive talks on climate change, IT, and cybersecurity took place, networking opportunities became the highlight for PME. Despite lacking VIP access, PME made significant connections with regular attendees like Gregory Dreaver from the Cree First Nation. PME’s encounter with Dreaver offered valuable insight into his noble vision for Cree Nation’s aerospace integration.

While the first day offered substantial networking opportunities, the ensuing two days were equally informative and enriching. Day two shed light on supply chain intricacies in food production and agriculture and highlighted Canadian Space Leadership. On Day three, PME engaged in discussions on Quebec’s SMEs, disruptive innovations, and the threat of drug-resistant bacteria.

The diverse topics and enriching encounters at the Conference de Montreal provided PME a unique, enlightening experience. The broadened understanding of large-scale issues and the interconnectedness of various sectors left a lasting impression on PME. The organization is left contemplating if an initiative like the Eagle Flight Network could evolve into the next billion-dollar startup. Conference de Montreal remains a cherished memory as PME progresses in academic and professional success.

10Jul
Bill 96 and its Implications for Commerce in Quebec

Quebec’s commerce sector stirs as new language restrictions under Bill 96 take effect on June 1, 2023. The government argues the law preserves and elevates French in Quebec due to perceiving it as threatened. However, the implications of this bill for English language and allophone businesses in the province have sparked concern, with its measures perceived as excessive by anglophone rights groups, including the Quebec Community Groups Network.

Starting from June 1, Bill 96 mandates small Quebec companies to disclose the proportion of employees incapable of communicating in French. The provincial government will then publish this information in its searchable public registry of companies. This requirement applies to businesses with five to 49 employees, with new businesses required to declare this information upon registration. Existing businesses are required to do so when filing their annual update.

The ability to communicate in French at work includes attending meetings, understanding instructions, participating in training, and writing/sharing documents. Premier François Legault seeks to limit English usage in Quebec through extensive toughening of language rules in this legislation.

The implications of these provisions on commerce in Quebec, particularly for English language or allophone businesses, are significant. Bill 96 enshrines in the Charter of human rights and freedoms a new “right to live in French,” requiring businesses to inform and serve consumers and the public in French. Every business offering goods and services to consumers, including those catering to other businesses, must comply with this obligation.

Businesses failing to meet the bill’s requirements face steep penalties. Under Bill 96, violations of the Charter result in increased fines: individuals face fines ranging from $700 to $7,000, while companies face fines ranging from $3,000 to $30,000. A second offence incurs double the fines, while subsequent repeat offences result in triple the fines. If an offence continues for longer than one day, it will constitute a separate offence for each day it continues.

In addition to fines, Bill 96 includes administrative penalties, allowing the Minister of the French Language, in consultation with the Office, to suspend or revoke permits/authorizations of companies repeatedly violating the Charter. Additionally, Bill 96 expands the francization requirements for companies. Previously, only companies with 50+ employees in a six-month period had to register and obtain a francization certificate. Starting from June 1, 2025, companies employing 25 or more people will be subject to this obligation.

Non-compliant companies unable to fulfill francization obligations or reject the Office’s language learning services can’t contract with civil administration or receive public subsidies.

Bill 96 imposes strict language regulations on Quebec’s commerce sector to strengthen French usage, burdening businesses. It mandates disclosing non-French competent workforce and serving customers in French, with significant fines and permit suspensions. Concerns arise among anglophone groups and non-French businesses, impacting linguistic diversity and the economy.

Businesses must comprehend Bill 96’s expectations to ensure compliance and avoid penalties. Understand employee language abilities, communicate with the government, and consider language learning services. Consult legal and HR professionals, engage the Office, and support French promotion in Quebec’s commerce sector.

22Jun
How to Reap Rewards with Instagram Captions

How to reap rewards with Instagram captions. One of the most crucial tools you have for boosting audience engagement on Instagram is the caption. Your followers may be drawn to your images and videos, but it’s the caption that persuades them to share, like, and comment on your post. Your Instagram captions can also boost sales, expand your social media reach, and help you gain more Instagram followers.

You might be wondering, how can you be certain that you’re utilizing the proper captions to foster accomplishment? Here are the tools you need to learn to reap rewards with your Instagram captions.

1. Grab their attention right away

Like most social media platforms, Instagram is all about quick exchanges of information.

On a regular basis, your customers scroll through dozens of images. Since Instagram condenses your description to just three or four lines, you must grab their attention quickly if you want them to stay on your page.

On the news stream, you have even less of a chance of grabbing your reader’s attention because only the first phrase of your caption will be visible. As such, your opening sentence should be written to instantly capture the reader’s attention by doing the following:

• Pose a question: your customer will want to know if you have addressed it.

• Include visuals: make your brand’s personality pop out by using emojis.

•Make a statement: say something that you know will catch the attention of your audience.

• Introduce your call to action first: as soon as a customer views your material, what you want them to do should be clear. Keep in mind that concise lines will attract your audience’s attention more quickly than most wordy Instagram captions. Keep it straightforward and to the point to get your message across.

2. Be a call-to-action master

Your call-to-action (CTA) is the most crucial component of your Instagram caption. It’s how you encourage your followers to interact with your page by leaving a comment on your post or clicking the link in your bio.

However, it is important to refrain from including too many CTAs in a single post. Consequently, having too many CTAs can take away from the caption’s clear purpose. Instead, you should precisely highlight what you want your customer to do for each of your Instagram posts. Below are some examples of the intentions of Instagram posts. Do you want the reader to:

Visit your website?
Click the link in your bio?
Invite their friends to a post?
Shop for a sale?
Subscribe to your newsletter?
Participate in a giveaway or contest?
Save your post for later?
Find the link from your stories?
Send you a DM?
Chat in the comments?
Leave an (insert emoji) if they agree?
Tag someone?

Try a few different possibilities because it might be challenging to predict which CTA phrases will result in the greatest response from your audience. You can choose which call-to-action phrases are best to employ in the future by evaluating your call-to-action phrases’ by their levels of engagement.

3. Tell stories

Spice up your Instagram captions with some storytelling.

A compelling narrative will strengthen your customers’ emotional connection to your brand and help them understand the advantages of your product or service.

When incorporating a compelling narrative into your captions, you should:

Show emotion: grab the reader’s attention with well-written descriptive information that is intended to help them envision or better understand the products you are selling.

Use appropriate language: find, use, and maintain the voice tone that works with your audience. Your stories will be more relatable if you use the same language as your intended audience.

Try being authentic: make your brand look more genuine by discussing your personal experiences. By sharing your personal experiences, you can show your audience that you are more than just a nameless organization.

4. Use sensory language

Another way to reap the rewards of Instagram captions is to find ways to connect emotionally with your followers, such as using sensory language. An Instagram account must have the appearance and feel of a personal journal, with authentic, moving, and engaging content, in order to successfully appeal to its followers.

Thus, you should write Instagram captions that will enable users to thoroughly immerse themselves in the experience you’re sharing, whether you’re a large corporation or a little business. Using sensory words will allow your content to be experienced through sight, sound, smell, taste, and touch.

The types of senses you should consider and appeal to, include:

Visual: concerned with sight, colour, form, and appearance
Tactile: concerned with touch and abstract conceptions
Smell: concerned with smells and how they affect our emotions
Taste: concerned with the things we can taste and experience
Motion: concerned with movements and how readers experience words
Auditory: concerned with hearing, noises, and even music

5. Utilize hashtags

Lastly, without the appropriate hashtags, Instagram captions are worthless. Hashtags on Instagram, as on most social media platforms, make your content searchable and guarantee that the relevant customers can find you. The simple act of including hashtags in your captions can greatly increase your account reach.

You can add a lot of important Instagram hashtags at the end of your captions, but it’s also worthwhile to think about how you can weave them in naturally with @mentions of relevant people.

Keep in mind that the finest Instagram captions typically include a variety of hashtags. You must choose trending ones that are attractive to your intended audience, but it is also important to consider specialized and more focused hashtags.

By creating your own custom hashtags, you may even entice your followers to participate and post user-generated content in your Instagram comments. A strong brand hashtag will promote your business, especially if you utilize it in conjunction with a contest or giveaway. For instance, you could offer a prize to everyone who shares a photo of themselves using your product with the hashtag associated with your business.

Keep an eye on what’s popular in your market, as well as the hashtags your competitors and brand influencers are using. This can help you if you need more ideas for hashtags to employ.

Make changes to your Instagram captions

It’s simple to ignore captions on a visual social media platform like Instagram. However, if you’re not maximizing your Instagram captions, you can be passing up important opportunities to engage, connect with, and convert clients. Instagram captions can be an essential part of growing and maintaining a business.

8Jun
Israeli Innovations Changing the World

Israel; a tiny country that is only 70 years old, has developed into a tech giant. Many Israeli innovations have literally changed the world beyond all recognition. Referred to as the start-up nation, Israel has more tech start-ups per capita than anywhere else in the world. This is impressive for a country with a population of about 9 million people. Its progress and innovation in such a short period is incredible. Some amazing tech that has come out of start-ups from Israel include Waze, Netafim, Mobileye, WaterGen and the firewall are just of the few of the many.

Waze

Ehud Shabtai wasn’t satisfied with the GPS devices available in israel so he took action. He noticed that GPS devices were not able to accurately provide traffic information in real time. Him, along with two other engineers created a community project called Free Map Israel. For the first time ever, they used crowdsourcing as a way to upload traffic information in real time.The app was able to upload data from other users and create more efficient routes accordingly. Free map Israel was then turned into the company Waze. The community grew and in 2013, Google bought the company for $1.1 Billion. The company of about 100 employees earned the biggest buy out in Israel tech leaving each employee with about 1.2 million dollars. Thanks to this Israeli innovation, everyone across the globe is using this GPS app to get them from point A to B in the fastest way possible.

NetaFim

For many years, farmers in Israel struggled to grow crops in the dessert soil. It is said that the greatest inventions come from necessity. Drip irrigation was invented and developed by Netafim in the arid land of the Negev desert in Israel. Since then, they have changed the lives of millions of farmers across the world. Due to the struggles that Israeli farmers faced, it lead them to find a solution that would allow them to grow crops more efficiently and effectively in any climate.

In 1965, engineer Simcha Blass began building the early models for drip irrigation. Blass was able to realize that fewer regulated drips of water was able to make a huge difference in plant growth. Kibbutz Hatzerim then signed an agreement with him to establish Netafim. Netafim was able to improve crop yields by 70% while reducing the water usage by 5%. NetaFim is now the world’s leading irrigation company that operates in 150 countries. In 2017, Mexichem SA acquired Netafim from Perima Holding for $1.5 Billion.

Mobileye

Autonomous driving has finally arrived. Cars are more advanced than ever and are now able to sense their surroundings with little human input. Most new cars are equipped with advanced driver-assistance. This is thanks to Amon Shashua who started developing this technology in 1999 in his academic thesis. His research turned into a reality. He developed the algorithm that would allow cameras to detect and alert drivers of hazards such as pedestrians. Since then, the technology has quickly advanced and now Mobile eye technology is now used in over 25 automakers. Mobileye is one of the biggest exits for an Israel company. Intel coorporation bought the company for 15.3 billion dollars. Due to this Israeli innovation almost every car on the market is becoming equipped with their technology.

WaterGen

Approximately 2.1 billion people worldwide live without access to safe water and, of that amount, roughly 1.7 million children die annually. Luckily, Watergen has found a solution to decrease this number significantly. Using nothing but a portable generator, WaterGen discovered how to produce clean drinkable water out of thin air.

In 2012, founder Arye Kohavi and his team launched the first generator able to cool and liquidize the air vapour present in the atmosphere anywhere from rain forests to desserts. Using their patented GENius technology, their generators can produce four litres of clean water for every kilowatt-hour of electricity it uses. Their technology is even able to account for air pollution, filtering out any impurities. WaterGen can produce up to 5,000 litres of premium quality drinking water per day per unit. Using 70% less power consumption than any other competitors and proven 100% clean premium quality drinking water, WaterGen is a life-changing product that plans to bring clean drinkable water to millions of people across the globe

5. Firewall

Cyber security has become a major problem as our world has become so technologically inclined. This Israel startup, Check Point Software Technologies, has become a world leader in cyber security. The software we all use to protect our devices from dangerous cyber activity is thanks to Gil Shwed, Marius Nacht, and Shlomo Kramer. In 1993, Check Point was the first to commercialize Firewall, a software technology used to protect against any malicious cyber activity. Since then, they’ve partnered with major tech companies like Nokia and have set up main offices in North America with approximately 5,000 employees. Cyber security has quickly evolved and advanced, and it all began in Israel.

These are only a few of the many tech start-ups from Israeli entrepreneurs. They are constantly working to improve and find innovative solutions to everyday problems, becoming global leaders in the tech world. Many of our advancements in technology have risen from Israeli entrepreneurs due to their world-leading, innovative solutions. They deserve recognition for their ingenuity and impact that spans the globe.

11May
Common mistakes Founders Make

There are a few common mistakes we see founders make. Making mistakes is all part of the learning process and the path to success. You might make mistakes you are not even aware of until later on in your start-up when it is too late. There are a few things that we commonly see founders do that you must be aware of. To avoid falling into this trap that can lead to the early downfall of your start-up, check out these five common mistakes founders make.

Not taking any feedback

The number one mistake founders make is not talking to their consumers. The most important thing to do as a startup is to set up a fast feedback cycle and get on the path of constant improvement. Building a product is not enough, you need to a build a product people will want. Founders often fail to do this, they will make a product but do not do the research to see if people will actually buy it. Some founders also fail to take any advice. You need to be open to new solutions and any criticism in order for your startup to be successful. Do not expect the first thing you will build to be great, it does not work that way. Nothing is perfect on the first attempt. Expect to be constantly improving your product with the feedback of users. As a rule, your only shot at building a successful startup is if you build something that people truly love and need.

TIP: Choose wisely the people you surround yourself with, but once you do, accept advice’s.

Hiring too much, too little or not right

It is important to hire the right people to delegate the load but beware in hiring too many people. Sometimes founders will hire too many people thinking that it will solve their problems, in reality in ends up burning through money for nothing. You should only hire people who are insanely great. Otherwise, you will regret it with probability. Plan carefully who you need on your team and make sure you chose the right people who will be able to perform to your expectations and more. Don’t hire people before you have a really clear idea of what you want them to do. Hiring the right staff in a start-up is crucial because any small mistakes can lead to negative consequences that your startup cannot afford to make.

Not being able to let go (Pivot)

It is a hard pill to swallow once you realize your big idea is not as great as you thought. Many founders have trouble letting go of their original idea even after all data suggests against it. You need to be able to make any changes need be if all data and research suggests that your product will fail. However, just because your original idea was not a hit doesn’t mean you have failed. You can easily make adjustments to improve or even pivot entirely. Many successful companies today started unsuccessful but they managed to pivot it into the next best thing. For example, take twitter, a company that started as a podcast streaming software called Odeo, pivoted into a social networking app. Once iTunes came out, the founders of Odeo soon realized they would be out of business and immediately made a change that resulted in one of the major social networking apps of our generation.

Bringing investors too early

It might seem like a good idea to take on an investor when they are throwing a bunch of cash your way since cash is king as they say in the start-up world. However, taking money from investors too early in your start-ups life is a mistake. It will add a layer of unwanted pressure and expectations you might not be able to provide so early on. It is wiser to use your own money or ask family and friends, as it will give you your freedom. The last thing you need is to add unwanted stress to your already demanding schedule. By taking on investors also means giving up equity in your company. They can have a say on any decisions you might make. Not to mention, you will want to be careful about diluting your company too early on.

Passion

Some founders get into start-ups with the motivation of solely becoming rich. That is not all it takes, make sure you are passionate about your business. Its takes a lot of work and it is this passion that is going to motivate you into succeeding. A successful business comes from entrepreneurs who are driven and motivated. This motivation gets them through any obstacles that might be thrown their way. The only reason they are so driven is that they are passionate about what their trying to achieve. If you are in it for the wrong reasons then you will easily give up when things start to get hard and won’t be able to overcome the challenges to succeed.

If you keep these five common mistakes Founders Make in mind then you are already on the right path. It is okay to make mistakes, it is part of the process. In order to become successful a founder will need to fail at a certain point. However, you should “fail fast” as the saying goes. Once you are able to accept your failure you can move on from it, learn and improve. So do not be afraid of failure it is actually beneficial.

25Mar
Dissecting Different Types of Revenue

Developing good analytical techniques to help you monitor your business performance is important. It will help you avoid silly mistakes that can negatively affect your business. If you have an SaaS product or B2B business model, your recurring revenue is subscription based and often times, contracts differ and generate different income. The terms; committed annual recurring revenue (cARR), annual recurring revenue (ARR) and bookings are used interchangeably. However you should commit to using one to normalize all your revenue. Being consistent will avoid confusion and mistakes. Here’s a break down what each of these terms mean so you can pick what’s best for your business.

ARR, MRR & cARR

Annual recurring revenue (ARR) normalizes the recurring revenue of your term subscriptions into a one-year period. It is the amount over a set period of time usually the contract length, in a year. Committed annual recurring revenue (cARR) is similar to ARR except it is a future amount. It is a committed amount, because that revenue is not readily available to your business just yet. ARR and cARR is especially useful if the majority of your contracts are minimum 1 year. Monthly recurring revenue (MRR) should be used if your contracts are typically below one year. The recurring revenue in a one month period.

ARR Vs MRR

When is Annual recurring revenue (ARR) used? ARR is used in B2B subscription businesses when the minimum subscription period is one year. Businesses with multi-year contracts are more likely to use ARR, and businesses with lower transaction volume and higher transaction value are more likely to use it. B2B and B2C businesses with monthly subscriptions should use MRR. Companies might use MRR and ARR interchangeably and tend to use ARR as a valuation metric and MRR as an operating metric. Let us compare these two metrics. ARR is useful to reference in board meetings or when analyzing the overall performance of the business. MRR is more useful to analyses day to day operations of the business.

ARR Vs Bookings

The total amount signed over a period is referred to as the bookings. This period can vary depending on many things. It could be, the business, individual or customer. In contrast to ARR’s minimum one-year subscription period, no time frame is specified. For instance, suppose we examine three different revenue streams for companies A, B, and C;

A: $1,000 in bookings with a 2 year contract

B: $1,000 in bookings with a 3 year contract

C: $1,000 in ARR

Looking at these three companies, we notice they have $1,000 in bookings. However, if we standardize this to ARR we can easily compare each of these companies revenues. Company A has $500 ARR, company B has $333 ARR and company C has $1000 ARR. This is where analyzing revenue can get confusing if not all normalized to one metric. For simplicity, bookings are standardized to the ARR metric.

Adopting the ARR metric to your business practices will simplify the way you analyze your revenue!