Vancouver-Based Startup Challenges
Link to listen: https://www.ucanwest.ca/innovation-fuel
Listen to episode 8, season 2 of the Innovation Fuel podcast which is about Vancouver-Based Startup Challenges. Manuj Aggarwal, CEO of TetraNoodle Technologies unpacks the question of why Vancouver is a good startup location but not a good scale-up location.
Prepare a report by analyzing and critiquing the content of the podcast. Make sure the following will be considered and covered in your report:
Specific Instruction:
At macro level analysis, after listening to the podcast, what is missing information in the podcast, from your point of view, to help you understand the podcast and make it better? In other words, what are your critiques of the podcast? (You might need to refer to the website of the business (Tetra Noodle Technologies) to have a better idea to form your response and analysis)
What is the mission of the Tetra Tech group in Vancouver?
What are the opportunities and positive sides of setting up a business in Canada and in Vancouver?
What are the challenges and negative sides of having business in Canada and in BC, more specifically Vancouver?
What is/are the important factor(s) for entrepreneurs to consider overcoming the current challenges of growing and scaling up business in Canada?
How does Tetra Tech in Vancouver help startups access capital, talent, and other resources?
From Manuj's point of view and experience, what is the important factor that entrepreneurs do not realize or consider in the real world when they try to introduce their products in the market? How does he help them?
General Instruction:
Sample Solution
The Innovation Fuel podcast episode 8, season 2 provides an interesting perspective on Vancouver’s startup scene. Manuj Aggarwal, CEO of TetraNoodle Technologies unpacks the question of why Vancouver is a good location for startups but not scale-ups. He discusses how there are too few VCs and Angel Investors in the area which results in limited capital availability. Additionally he mentions various structural barriers such as lack of mentorship, resources, or government incentives preventing businesses from achieving further growth (Aggarwal & Dhillon 2021).
However, despite this insightful analysis it does leave out some important factors which could help to enhance our understanding of the issue at hand. For instance, there were no references made to the impact that cultural differences can have upon entrepreneurship. For example data from 2018 shows that over 30% of Canada’s population was foreign born yet many immigrants struggle with language barriers or cultural norms when attempting to access resources like venture capital funds (Statistics Canada, 2021). This suggests it may be more difficult for those who do not belong to traditional demographic groups within Canadian society hence it is important to consider prioritizes providing meaningful access and support networks especially towards individuals who are less likely receive them otherwise.
In addition, there was minimal discussion regarding how inadequate infrastructure can act a hindrance when trying to attain growth potential due to being unable handle demand signals coming from rapid expansion thus making it hard for any organization regardless their size or background access necessary resources required efficiently manage such growth rates (Tetra Noodle Technologies LLC 2020). As such, this implies certain issues present within wider economic environment need addressing if businesses want maximize chances succeeding long term instead focusing solely micro level solutions.
Overall, this podcast provided useful insight into why Vancouver might be better suited start up rather than scale however some key information missing could improve our understanding overall situation if taken into account moving forward.
socialist framework. The non-cutthroat nature of socialism has negative ramifications on all levels. The common realizes they are ensured similar advantages paying little heed to how much work they're doing, and the way that well they're getting it done. The space for financial development is negligible. At a more significant level, there is no contest between firms, which causes a stagnation. No monetary development prompts despondency, which prompts political kickback, and insurgencies.
Private enterprise brings about financial development since it takes care of advancement through rivalry. China has fostered an inexorably unrestricted economy. The Soviet Association was imaginative at whatever point they were associated with rivaling the US, however for items just dispersed inside their country, it was consistently the absolute minimum. The "imperceptible hand" of rivalry, carries the market to a characteristic balance as indicated by Adam Smith. Contest upholds individual development too, and in the end brings about additional specializations of work.
A significant differentiation among free enterprise and socialism is equivalent open door sections equivalent result. Private enterprise upholds equivalent open door, however this consequently brings about an inconsistent result due to the fluctuating sums where various individuals will work. Socialism then again upholds equivalent result. There ought to be no abundance holes in a socialist state since it doesn't make any difference how much work an individual places into succeeding, they end up with a similar outcome. There is no rivalry, and there is no an open door for development.
China was essentially socialist before for most of the twentieth 100 years, yet they started progressing into a blended economy during the 90's. They've encountered extraordinary monetary development because of this change. In 1990, China's Gross domestic product was 360.585 billion USD, and in 2011 12.238 trillion USD (China, 2017). The gross ostensible pay, GNI, per capita has additionally developed from 330 USD in 1990, to 8, 690 USD in 2017 (China, 2017). The new arrangement for China is to zero in on development and turning into an innovator in mechanical advances. "Made in China 2025" is an arrangement set out by Xi Jinping to change the Chinese economy to a blended economy rather than a controlled economy (Amadeo, 2018). They are perceiving the relationship that development and rivalry have in encouraging the economy. China's arrangements to develop into a blended economy in with additional privatized markets will transform China into an all the more financially adjusted country.
Europe additionally gives an illustration of how entrepreneur standards benefit the economy. The European Association set out 10 billion Euros in their spending plan in 2015 for Skyline 2020, an examination and development program (Spending plan, 2014). Skyline 2020 is a program that was started to expand Europe's intensity