determine what’s commercializable. Business schools have the capability to understand, discern, and communicate what’s possible to the private sector and capital markets. I hope to assist in propelling student ideas along the commercialization trajectory. AUFB : Who or what has been the most noteworthy influence on you professionally? RK: There are two people who are as relevant today as much as ever. The first was from my time as a student at the University of Manitoba: Dean Ralph Harris. It was his course: Government and Enterprise that showed me how it ain’t black and white. Dean Harris explained really early on about the importance of nuances between opposing “Don’t ever feel that groups and how to break them down you’re boxed in or simply. This is something I still apply today. cornered. There’s The second person was a professor at the always a way onward University of California, Berkeley: Federal and upward.” Reserve VP, Robert Einzig and his – Russell Kalmacoff, Executive course Money and Capital Markets – a tour in Residence de force that brought the subject alive, with humour and a twinkle in his eye. It was under the guidance and mentorship of Einzig that I wrote my first paper to Canada Mortgage and Housing Corporation (CMHC). AUFB : What are your plans to engage with the students and alumni in this new EIR role? RK: The present state of capital markets is chaotic and confusing. I’m very excited and honoured to be involved in the development of a model that summarizes and clarifies capital markets Interface throughout the Innovation Continuum. Beginning with the entrepreneur drawing from the well of pure research, and identifying a commercializable idea. It’s been a team effort between myself and AUFB, specifically the finance professors, to define 10 steps
that can lead the entrepreneur to emerge with a viable, stand-alone public company with all the tools of the capital markets at the corporation’s disposal. I look forward to assisting and engaging students and alumni as we plug in their ideas on the ten steps comprising the Innovation Continuum. AUFB : What’s the most important piece of advice you could pass onto AUFB students and alumni? RK: Don’t ever feel that you’re boxed in or cornered. There’s always a way onward and upward. If you find yourself feeling like there is no solution, then go and do something different from what you are currently doing. Take a break and find something that excites you and energizes you. Allow yourself time to soak it in. The time away from whatever is presenting a challenge should act as a re-set button, thus providing the will to overcome the challenge. For instance, when I’m feeling ground down one thing I like to do is get on a plane and spend some time in the San Francisco Bay Area – the land of boundless optimism. I find the energy in the area reinforces my will for forward momentum. “HOW TO” CONTACT INFO Have a great idea but need some advice? Get in touch with our Executive in Residence via email. Please include the following details: • A brief introduction of what you hope to achieve by corresponding with the Executive in Residence • Your idea or plan for discussion • Business plan (if applicable) • If seeking advice on financing, where your venture sits on the financing continuum • Your current contact information including a current email and phone number Contact Russell: russell.kalmacoff@fb.athabascau.ca
10 STEPS TO SUCCESS ON THE INNOVATION FINANCING CONTINUUM
1.
SCIENTIFIC RESEARCH Alberta Innovates
6.
ANGELS National Angel Capital Organization (NACO)
2.
FAMILY & FRIENDS Canadian Association of Family Enterprise (CAFE)
7.
EXEMPT MARKET National Exempt Market Association (NEMA)
3.
ALPHABET SOUP Chartered Professional Accountants (CPA)
8.
VENTURE CAPITAL FUNDS Canadian Venture Capital & Private Equity Association (CVCA)
4.
INCUBATORS Innovate Calgary TEC Edmonton (CABI) Canada (NBIA) US
9.
INDEPENDENT INVESTMENT DEALERS Investment Industry Association of Canada (IAC)
5.
CROWDFUNDING National Crowdfunding Association of Canada (NCFA)
10.
COMMERCIAL CREDIT Banks Credit Unions ATB
Russell Kalmacoff, President, Rockmount Financial Corporation
30 CONNECTED
Athabasca University