Edmonton Advisory Council on Startups

EACOS has been selected

The wait is over: the Edmonton Advisory Council on Startups (EACOS) has been selected!

In 2019, EACOS will bring together a diverse group of Edmonton leaders to represent the startup and scaleup community as a whole.

Choosing these leaders wasn’t easy. With over 80 people applying to be a part of the council, the EACOS selection committee was impressed by the quality and passion of the applicants. Much time and deliberation was taken to select a council membership that will work together to provide leadership, perspective, and a voice for entrepreneurs that will contribute to informed decision making related to evolving the Edmonton innovation ecosystem.

We are excited to announce our founding members of EACOS. These 13 members will represent the council for the next year:

  • Amir Reshefdealcloser (Pre-Seed)
  • Ismail KhalilStudentsEAT Inc. (Pre-Seed)
  • Meghan DearEnabled Label (Pre-Seed)
  • Adrian BanicaDirect-C Limited (Seed)
  • Mike WilsonOMx Personal Health Analytics Inc. (Seed)
  • Bradley PouletteAirtrail (Seed)
  • Ashlyn BernierSAM Inc. (Scaleup)
  • Trent OsterBeamdog (Scaleup)
  • Sean FeehanDrivewyze (Scaleup)
  • Ashif MawjiRising Tide (Investor)
  • Craig MilneLittle Tree Management Inc. (Investor)
  • Richard Clark, MacEwan University (Student)
  • Hazel FoerstnerUniversity of Albert(Student)

The Council will be meeting in January to begin mapping their future path. For now, check back here for updates as they occur.

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What is EACOS?

A vital and globally competitive innovation economy depends on the synthesis of many interrelated communities and interests, including local entrepreneurs, to the common purpose of advancing growth, opportunity and diversity.

The Edmonton Advisory Council on Startups (EACOS) brings together a diverse group of Edmonton leaders to represent the startup and scaleup community as a whole. The inaugural council has 13 members serving for a 1-year term

The group provides feedback and recommendations to decision makers in government and government funded institutions with the goal of guiding policy decisions, programs, projects and investment to ensure the needs of entrepreneurs are being met.

The EACOS is a principled and independent advisory body with a mandate to provide leadership, perspective, and a voice for entrepreneurs that will contribute to informed decision making related to evolving the Edmonton innovation ecosystem.

EACOS Principles

  • Focus will be on fast paced growth of tech-enabled companies with large, international market aspirations
  • Members must recognize that a sense of urgency is required if we are to gain economic parity and compete globally
  • Council will reflect a wide range of diversity with respect to gender, race, age, background and experience
  • Members will be volunteering their time, networks, experience and passion to the betterment of the larger ecosystem (time commitment estimated at 10 hours/month)
  • Member companies must be headquartered or largely operated in the Edmonton Metro Region
  • Industry membership will consider, but not be limited to, key sub-sector strengths as assessed by 2018 Startup Genome report
    •  Healthcare, Biotech, EdTech, Artificial Intelligence, Big Data & Analytics
  • Members must live and primarily work in the Edmonton Metro Region
  • Principles of the Rainforest and Startup Communities will guide member actions and behaviors

 

EACOS Membership

The EACOS council is comprised of 13 members of the Edmonton Innovation Ecosystem Community. Members of this council will be selected by the founding selection committee based on the following criteria.

Representation

  • 9 Entrepreneurs – member of the founding team or executive
    • 3 startup community members – pre-seed stage
    • 3 startup community members – seed stage
    • 3 scaleup/established community members
  • 2 Students – post-secondary
    • Engaged in entrepreneur focused classes and/or working within the student innovation centres (ie: Mawji Ctr, Student Innovation Ctr, E-Hub, Roundhouse, etc.)
  • 2 Investor community members
    • 1 – direct Alberta investment experience
    • 1 – direct Edmonton investment experience

 

Startup pre-seed stage representative criteria includes:

  • Less than CAD $500k annual revenue
  • Fewer than 20 employees worldwide, including founders
  • No institutional investors, and less than $1m of angel and/or F&F (if any)
  • Product/Service or MVP in active development with line of sight to launch, or early product in market already
  • Company (or most recent iteration of company) is within 3 years of founding
  • Bonus: Experience raising capital or participating in an accelerator in another city

Startup seed stage representative criteria includes:

  • Less than CAD $5m annual revenue
  • > 100% y/y growth in most recent fiscal year
  • Fewer than 30 employees world-wide, including founders
  • Has achieved product/market fit
  • Bonus: Experience raising capital or participating in an accelerator in another city

Scaleup/established representative criteria includes:

  • Less than CAD $100m and more than CAD $5m annual revenue (or equivalent B2C KPI benchmarks)
  • > 40% y/y growth in most recent fiscal year
  • Cannot be a publicly traded company
  • Fewer than 500 employees worldwide, including founders