The Rockies' Report - Issue 4 (June 2022)

THE ROCKIES' REPORT

A Note From Alice Reimer

We have wrapped up yet another year of CDL-Rockies programming! The program year started with 72 promising and highquality novel startups hungry to build something massive After four intensive session days over nine months and hours of mentorship, 19 ventures successfully graduated from the program. You can find the full list of graduates here.

While there were many highlights from the program I will highlight just a few:

Hosting our mentors, partners and ventures in-person brought a unique energy to Session 4. Not only were we able to finally shake hands, hug and have animated and fluid conversations, but, as a few of you mentioned during your introductions, we also got to see how good looking the CDL community is in real life

There were a few ventures that couldn’t make it inperson, and with the help Calgary-based entrepreneur Savana Radley and her company Radley Robots, founders unable to travel were able to join us on session day, interacting and meeting with mentors as they would have in-person.

Finally, Session 4 allowed the CDL-Rockies team to come together and experience what was, for many, their first in-person session, and see their hard work preparing for the day pay off in such a successful way.

On behalf of CDL, congratulations to all 72 ventures who took part in our 2021/22 cohort, we look forward to following along as your startups grow and gain success in the future

I’m also delighted to share that we have welcomed Mason Brookwell to the team as our Director of Operations. Mason comes to CDL with a wealth of experience in running businesses. He spent 15 years running and growing small businesses in the construction, retail and landscape industry. He is also an active volunteer and serves as the Chair of the Calgary Stampede Chuckwagon Committee and board member for both ICA Canada and the Butterfly Effect Foundation We’re excited to welcome Mason to our team!

As we head into summer, our team will be busy recruiting startups for next year’s cohort, which we expect to be held in-person this November. You can read more about our recruitment efforts in the Venture View section of this newsletter.

We are so grateful for the support we receive from our CDL-Rockies community. The program’s success would not be possible without this community’s dedication to help the next generation of entrepreneurs build something massive.

As always, happy reading!

Sincerely,

Welcome to The Rockies' Report, a quarterly newsletter providing Site updates to the community that fuels our work at CDL-Rockies. Alice

Recognizing Excellence In Our CDL Community

CAREER HIGHLIGHTS:

1 2 3.

Seeing my graduate students win outstanding thesis awards and gain recognition for the quality of their research My students’ agency forged their success, but it’s nice to know I played a small role in helping people achieve excellence

The successful launch of the University of Guelph’s Foundations in Agricultural Management course This is one of the most meaningful projects I have ever worked on, alongside an incredible, collaborative team from Guelph, the Royal Bank of Canada, and Farm Credit Canada

Having my dissertation research recognized with the American Agricultural Economics Association Outstanding Doctoral Dissertation award in 1999.

Learn more

PASSION:

Endurance athletics: I developed what a friend once called “adult onset athleticism” when I turned 40 and ran my first half-marathon That first race led to many more – and now triathlon

CDL ROLE:

TITLE: Professor + Associate Dean (External Relations), University of Guelph Economist - Ag

Reading: My favorite book is James Gleick’s biography of Richard Feynman, Genius It significantly affected how I approach research and teaching Supporting my colleagues and mentees: My credo, to leave more than I take, is a reminder to give back and create opportunities for others, and do this at scale

GrainDiscoveryisraisingaSeriesAround(Ag2020/21)

HQuestVanguard,Inc israisingaSeriesAround(Energy2018/19)

HyggePowerisraisingaSeriesAround(Energy2018/19)

MicroTrafficisraisingaSeriesAround(Prime2019/20)

NTWISTisraisingaSeriesAround(Prime2017/18)

PegasusImageryLtd.israisingaSeedround(Prime2019/20)

RoshanWaterSolutionsisraisingaPre-Seedround(Prime2017/18) SummitNanotechisraisingforbridgefunding(Energy2019/20) SwirltexisraisingaSeriesAround(Prime2017/18)

Umay - 2021/22 Prime stream graduate. Photo credit: Adrian Shellard.

GeologicAI - 2018/17 Energy alumni company. Photo credit:

CDL-Rockies is recruiting startups for the 2022/23 program year The team is eager to connect with science and technology-based startups looking to reach their full commercial potential CDL-Rockies offers an intensive objectives-based mentorship program over a nine-month period, admitting startups into two industry-focused program streams called Ag and Energy, and one industry-agnostic stream called Prime.

When we speak to founders and community organizations we often talk about “the CDL fit.” This means that we recruit startups that meet specific criteria related to team, tech, market, stage and goals. Some of the criteria we use as general guidelines when evaluating companies includes:

Are the founders coachable? Is the team positioned to get the most value out of the program?

Does the startup have novel and defensible intellectual property?

Market size

IP strategy Does the business model and market opportunity allow for massive scalability? (In excess of $100M)

It’s important to note these criteria are not applied as a hard and fast rule; every startup is unique and there may be other factors that contribute to its competitive advantage for admittance into the program. Because each startup is different, we take a case by case approach when evaluating its readiness and fit for CDL.

For founders interested in learning more about the program and application process, please register for our 15-minute webinars listed in the Around the Corner section.

Our team welcomes referrals from our community If you know of a deep tech or science-based startup that you believe could be the right fit for one of CDL-Rockies’ streams, or for another stream within our larger network, please reach out to us

Applications for next year’s cohort are open until July 31.

Operating three streams: Prime, Energy and Ag

Adrian Shellard.

ALUMNI COMPANY DEAL FLOW

Calgary'stechandinnovationindustrygets$22.3millionfederalfundingboost(WestgenTechnologies,Energy2020/21)

Brimstonetoproducetheworld’sfirstcarbon-negativeportlandcement(Energy2018/19)

X-FactorawardwinnerCarbonUpcyclingTechnologiessecures$6milliontoscalecarbon-resilientinfrastructure(Prime2017/18)

PulseMedicaraises$2.6Masitpreparestolaunchlasertreatmenttrial(Prime2019/20)

CleantechcompanySummitNanotechclosesUS$14MSeriesAroundtoadvancesustainablelithiumextraction(Energy2019/20)

ChargeLabraises$15milliontoexpanditsAPI-firstEVchargermanagementplatform(Energy2021/22)

AROUND THE CORNER

Community Events & Initiatives

Osler’s 2021 Deal Points Report: Venture Capital Financings

Evok Innovations’ 2021 Impact Report Haskayne Research Big Ideas Newsletter

Resources

Initiatives

CDL-Rockies has launched the CDL-Rockies Opportunities Scholarship. Created in partnership with Ag stream Founding Partner and Fellow Alison Sunstrum and administered by MindFuel, the CDL-Rockies Opportunities Scholarship aims to close the gender gap in STEM and encourage young women to explore opportunities in the prairies. Visit MindFuel to learn more about the scholarship.

Events

CDL-Rockies program 15-min webinars:

Energy Stream Webinar (runs until July 27, 2022)

Ag Stream Webinar (runs until July 26, 2022)

Prime Stream Webinar (industry agnostic program stream; runs until July 13, 2022)

PARTNERS IN INNOVATION

CDL enables Nutrien to keep a pulse on the highly dynamic AgTech startup environment and is an important part of our innovation ecosystem. The partnership allows us to stay connected to grassroots initiatives and technologies, identify potential forces of industry transformation and understand the value proposition of new technologies while supporting ag industry entrepreneurs as we help to grow a competitive, progressive and exciting industry.

- Matt Marshall, Vice President, Strategy

HOW WE HELP STARTUPS:

Ag Stream Catalyst Partner

Let's Connect.

Startups are a tremendous force of industry innovation. For Nutrien, startups demonstrate the value of applied innovation and technologies in a commercial business setting, while allowing us to identify potential fits with our global business model.

As the world’s largest provider of agricultural crop inputs and agronomic services, Nutrien can provide insight and perspectives to early-stage startups, helping them better understand their target markets, customer trends and how/where their innovations may integrate into the agricultural value chain. For later-stage startups with market-ready technologies that fit with our overall portfolio, Nutrien can provide an unparalleled channel to growers globally and the opportunity to significantly scale their market presence

Let's Connect Prime Stream Partner

HOW WE HELP STARTUPS:

- Dan Zuniga, Partner, Cassels

At Cassels, we believe in the importance of being versatile and driven. This is reflected in the entrepreneurs we meet and startups we assist. Cassels has one of the country’s most sophisticated legal teams dedicated to assisting emerging companies protect and grow their business.

Each member of our team advising startups also offers an in-depth understanding of the technology sector. This enables our lawyers to not only provide high-quality legal advice but also serve as trusted business advisors.

We engage with startups at the beginning to offer practical legal and business advice on issues related to corporate structuring, intellectual property, and employment. As businesses mature, we advise on financings, venture capital, private equity, IPOs, corporate governance, executive compensation, and tax issues. When required, we also advise on mergers and acquisitions and dispute resolution.

Alice