Edmonton Advisory Council on Startups

Edmonton Advisory Council on Startups

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 requires 13 members to serve for a 1-year term.

 

Applications for EACOS have reopened until December 14 for investors only

CLICK HERE TO APPLY

 

The group will provide 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 will be 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