The British Columbia Technology Industry Association (BCTIA) is hosting a Global Growth Symposium today at the Hyatt Regency in downtown Vancouver and Sir Terence Matthews of Mitel fame kicked it off with the keynote this morning.
Not surprisinlgy Matthews urged BC’s tech entrepreneurs to ‘go global’ and leverage the global economy stressing that International markets are where his companies had experienced the most growth.
Matthews made multiple references to his successful business startup model that he has “honed” down over the years:
- Hire recent University grads that are unmarried and have no kids – “they work around the clock”.
- Pay them $25K per year but promise the 50% ownership after one year.
- Enter markets where the startups are able to leverage existing relationships from related companies – nothing beats an introduction.
To date Matthews and his Wesley Clover investment arm have focused most of their startup activity on the East Coast. However, Matthews promised the audience that he would be “bringing it to BC” within the next 6 months and even referenced a meeting scheduled at the University of Victoria on Monday.
Considering his comments on the state of the Venture Capital market in Canada, “There is NO Venture Capital funding in Canada right now”, it certainly sounds like Matthews global growth plans include a West Coast tour with our local universities as his first stop.