Canada has one of the most successful entrepreneurial ecosystems in the world. From Vancouver to Halifax, the Canadian tech ecosystem has hundreds of world-class start-ups, but few become global enterprises.
The initial challenge for most startups is identifying and building a product offering that solves a significant problem and can be monetized. But landing on the perfect product/market fit is never the endgame. The next challenge for most startups is one of scale, and this phase of a startup’s development is no less challenging than the first.
Constraints to Scaling*
The Lazaridis Institute conducted interviews in 2016, asking entrepreneurs and tech influencers across North America about the biggest constraints to scaling.Request a copy of the Scaling Success white paper
1. Insufficient access to capital (16%)
2. Ecosystem dynamics (20%)
3. Shortage of executives with experience scaling companies (53%), especially in these key areas:
- Sales and marketing (68%)
- Organizations design and execution (30%)
- Product management (17%)
- Internationalization (17%)
- Operation finance (10%)
*Results from a 2016 Lazaridis Institute report, Scaling Success: Tackling the Management Gap in Canada’s Technology Sector.