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Healthy debate The public should determine new hospital site in a citywide vote, Michael Prentice says > PAGES 8-9
December 5, 2016 Vol. 20, NO. 4
THE TENANT’S ADVANTAGE
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Mistral on a mission Ottawa-based VC fund says $35-million goal for second round part of drive to build a more ‘innovative society.’ > PAGES 4-5
A boost of energy Region’s accelerating clean-tech sector could gain even more momentum thanks to new BDC fund aimed at startups, experts say. > PAGES 14-15
FileFacets co-founder Chris Perram could barely contain his enthusiasm at the Best Ottawa Business Awards, and it’s easy to realize why. PHOTO BY MARK HOLLERON
Startup sorts out global strategy FileFacets set for push into U.S. and European markets with help from $4M VC boost Kanata South firm says Series-A round just the first in series of ‘big announcements’ to come from thriving enterprise > PAGE 6
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TECHNOLOGY “I bought into the idea. There are no other funds in Ottawa. There are lots and lots of smart people, so given the right guidance and the right amount of seed capital, we could make something interesting happen.” – CODE CUBITT, MANAGING DIRECTOR OF MISTRAL VENTURE PARTNERS Former Invest Ottawa CEO Bruce Lazenby was instrumental in bringing Mistral Ventures managing director Code Cubitt to Ottawa. FILE PHOTO
Mistral raising second round in pursuit of ‘innovative society’ Ottawa-based VC fund believes it can meet ambitious $35M goal this month BY CRAIG LORD craig@obj.ca
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our years ago, a Silicon Valley venture capitalist returned to Canada to start something bold: An Ottawa-based fund with a focus on Canadian startups. The goal was to capitalize on Ottawa’s expertise in creating successful companies and to bring the money raised during the tech boom off the sidelines into play. Code Cubitt did that. Now, he’s looking to do it again. Since its inception in 2012, Mistral Venture Partners has raised more than $10 million and invested in a portfolio of 15 companies, most of which are Canadian, including Ottawa-based firms such as Klipfolio and the Better Software Company. Mistral targets companies that are
part of the “next generation of smart enterprise.” Technological change has been massive in even the past halfdecade with the rise of mobile and cloud computing as powerful forces in the industry. “The promise of the Internet 20 years ago is the reality of the Internet today,” Mr. Cubitt says. “Every business on the planet is being fundamentally transformed … We looked for companies that were selling into that shift.” Investors in the fund include Minto’s Greenberg family, the Westeinde family and BDC Capital, the sole institutional contributor. Now, Mr. Cubitt says he’s close to launching a second round with hopes of raising between $25 million and $35 million by later this month. While he has thus far heard a great deal of interest from investors new and old, he says he won’t declare victory until he’s got the money in the bank.
CAPITAL IN THE CAPITAL “Our mission in life is really to A, spur this ecosystem, and B, make sure that our companies are well-funded,” Mr. Cubitt says. The idea of an Ottawa-based VC fund can be traced back to Bruce Lazenby, the current head of business development at Regional Group who at the time was CEO of Invest Ottawa. Mr. Lazenby says he remembers the days when funds were headquartered in Ottawa, hungry to make investments. “After the bust, they all kind of went away … I thought it’d be really valuable to have more investments here,” he says, landing hard on the last word. He turned his attention south, with the intention of finding a particular profile to lead such a fund: An expat with Silicon Valley experience, as well as young kids and an inkling to raise a family north of the border. Mr. Cubitt, he says, “fit that profile almost to a T.” Prior to Mistral, the Canadian-born
Mistral’s Code Cubitt. FILE PHOTO
Mr. Cubitt worked as chief operating officer for Zephyr, a vital-signs monitoring company in Maryland, and was a venture partner with various American firms. When asked why he was convinced an Ottawa VC fund could work, Mr. Cubitt laughs. “Pure naivety,” he says. “It’s a really important ingredient, actually. All entrepreneurs have it.” Mr. Cubitt saw the same thing in Ottawa that Mr. Lazenby did: A plethora of successful execs with money earned in the boom and nowhere to put it and a tech sector with potential, but limited access to capital. “I bought into the idea. There are no other funds in Ottawa. There are lots and lots of smart people, so given the right guidance and the right amount of seed capital, we could make something interesting happen,” Mr. Cubitt says. It didn’t hurt, he adds, that his wife was won over immediately after their initial trip to the city.
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BUILDING ON SUCCESS The goal wasn’t to have a firm that invested only in local companies, though, Mr. Lazenby says. It was more important that the first round was successful so that investors would be willing to reinvest in second and third rounds. Mr. Cubitt says that so far, none of the original investors have turned him away when he asked if they’d like to re-up in the fund. “When I showed up, I had me and a business plan. Now, we have 15 examples of us executing on that business plan,” he says. The strategy in the second round will be largely “rinse and repeat,” Mr. Cubitt says, with the exception that investments will likely go as high as $500,000 this time, compared with $250,000 in the first round. Mr. Cubitt says he’s seen a “fundamental shift” in Ottawa in the past four years, and it bodes well for the future of the tech community. When he lectures at Ottawa’s two universities, he says he finds students who actually want to be entrepreneurs. He credits successful startup examples, specifically Shopify and its CEO Tobi Lutke, as showing that it really can be done in the city. “Once you break the barrier, show that it can be done, that’s no longer an excuse you can make,” he says. Mr. Lazenby adds that Mistral’s presence has been “great for the local tech sector,” and that Mr. Cubitt’s commitment to meet with local companies and help them to improve has boosted entrepreneurial spirit in the city. “When people believe it’s possible, then people try. That’s really the best part of it all,” Mr. Cubitt says. “And that’s a big part of our goal here: I want to be an innovative society.”
GO GLOBAL “It’s pretty exciting right now. We have pretty grand plans.” – CHRIS PERRAM, CO-FOUNDER OF FILEFACETS
America and around the world. It’s all part of a shift from a direct sales model to a channel sales strategy in which the company markets its products to manufacturers of due-diligence and enterprise content management software “so we’re onboarding 30 customers a month instead of three,” he explained. “It’s a constant recruiting effort right now,” Mr. Perram said, noting the firm has doubled its headcount in the last year while posting double-digit month-overmonth growth in recurring revenues. Hiring is a challenge for just about all tech startups these days, he conceded, but he said his company has been fortunate to win over some highly soughtafter recruits in its development and marketing departments. “We’ve got a bit of a cool vibe going on,” he said, the pride in his voice obvious. FileFacets now has sales staff south of the border in Denver, San Diego and Washington, D.C., as well as an office in Vancouver, an expansion that has produced “incredible results,” Mr. Perram said. The firm is gearing up to take on FileFacets co-founder Chris Perram is all smiles at last month’s BOBs after receiving a #NextBigThingOTT award. PHOTO BY MARK HOLLERON the European market and is also making inroads in Asia, Australia and New Zealand, he said. While he wouldn’t reveal specific revenue figures, Mr. Perram said the company – which graduated from Kanata’s L-Spark accelerator in June – is growing even faster than he’d expected. “Put it this way – the investors are happy,” he said. They certainly sounded that way during last month’s funding announcement. “FileFacets has done an amazing job building their technology platform to deliver a single, turn-key solution make data easier to analyze and manage “It’s pretty exciting right now,” to help solve a major piece in the data BY DAVID SALI – scored #NextBigThingOTT honours as Mr. Perram said in an interview with migration puzzle,” David Adderley, david@obj.ca one of the capital’s companies to watch OBJ, adding there will be more “big partner at Celtic House Venture Partners, during the annual business gala. announcements” coming down the pipe said in a statement. “We look forward to f all the entrepreneurs who took Its month got even better a few weeks from the company soon. “We have pretty working with Chris and his team on their the stage at last month’s Best later, when FileFacets announced it has grand plans.” continued growth and success.” Ottawa Business Awards, probably landed $4 million in series-A financing. Those plans include expanding the Mr. Perram praised his mentors none had a bigger grin than FileFacets The round is being led by Kanata’s Celtic firm’s customer base in the United States, at L-Spark for keeping the firm on co-founder Chris Perram. House Venture Partners with additional Europe and Australasia as part of its the “straight and narrow” during its It’s not to figure out why. participation from Ottawa-based Wesley drive to become a $100-million company transformation into a fast-growing The Kanata South startup – which Clover International and GCI Ventures within five years. software-as-a-service enterprise. makes software that helps clients out of Toronto. Mr. Perram said the latest funding “We wouldn’t be here today without automatically locate, sort through and All in all, it’s been a November to will go towards beefing up the 25-person having gone through that exercise,” he categorize reams of business files to remember for the upstart firm. firm’s sales and marketing staff in North said.
FileFacets caps off November to remember with $4M VC deal MONDAY, DECEMBER 5, 2016
Kanata startup sets sights on expansion into Asian, European markets thanks to major cash injection from Ottawa and Toronto investors
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BRIEFS Fintech firm aims to revolutionize banking in African country
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made from the rare fabric. The couple met while both were living in the Netherlands, and after getting married they went to Ms. Karmacharya’s home country of Nepal, where they first encountered the cashmere industry. The fabric is taken from Nepalese mountain goats after they shed it in spring and is then woven together over days. Ms. Karmacharya said they thought it was interesting when they visited, but it was only later they saw its full potential. After spending nine months apart while immigration issues were sorted out, the couple moved to Ottawa. Ms. Karmacharya said they realized there was a potential for the business. She said she liked the idea that it would keep her attached to Nepal. “I knew I would be joining him in Canada, but for me, I wanted something that would still keep me attached to my home country,” she said. Since the beginning, the company has also had a charitable mandate, donating a percentage of proceeds to charities in Nepal, Mr. Venn said. “Contributing to social causes that are important to us in particular for a country like Nepal where our products originate was important,” he said. Venn said all of that was given more urgency when a major earthquake hit Nepal in 2015. “When disaster strikes like that you want to do something, especially when you are more connected to the sense of place,” he said. So far the portion the company is contributing from each sale has really managed to add up. “We were able to contribute to contribute to building 20 classrooms in three of the hardest-hit villages,” said Ms. Karmacharya. — OBJ staff, Metro
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ince the 1990s, Canada’s major airports have been operating as private, not-for-profit self-sustaining businesses. Today, airports contribute over $1 billion a year in rent and other fees to the federal government, and Canada is recognized as having the best aviation infrastructure and most efficiently run airports in the world. But all of that could change if the federal government moves forward with a proposed sell-off of Canada’s major airports. Acting on the recommendation of former federal cabinet minister David Emerson, the government has asked investment bankers Credit Suisse to provide an analysis of the proposed sell-off to private investment groups to operate on a for-profit basis. Given the success of Canada’s major airports, the proposal has raised a number of concerns. The consequences can’t be ignored According to Ottawa International Airport Authority (OIAA) President and CEO Mark Laroche, selling off Canada’s airports would be a mistake as it will raise the cost of flying. “The experience of other jurisdictions, notably the U.K. and Australia in the 1990s, demonstrates that there are serious consequences that can’t be ignored,” says Laroche. “Airports in Australia that were sold to private interests did not produce the promised returns to the government and did not deliver anticipated tax revenues. What did happen is that customer fees increased and service levels declined. We can expect the same thing in Canada if this sell-off goes forward.” Laroche and others argue that selling airports to private investment groups will result in higher costs to passengers because private investors will be focused primarily on maximizing the return on their investments. In the U.K. and Australia cases, increased airline charges were passed on to passengers through higher parking and airport improvement fees. In a bold statement, Rod Sims, Chairman of the Australian Competition and Consumer Commission, has called a halt to the
DOMESTIC ARRIVALS
DOMESTIC/INTERNATIONAL HOLDROOM. PHOTOS BY RON DE VRIES continued privatization of assets such as airports and said it is “severely damaging our economy.” Other factors to be considered include the debt that many airports carry. It would have to be factored into estimates of any potential returns on the sale of these assets before they can be sold. In Australia, the government absorbed the debt as a means of making the sales more attractive. In addition, the local voice on Authority boards of directors that has ensured that local interests are well-served would all but disappear in a for-profit structure, as investors would be expected to install board members who share their interests and priorities. Susan St. Amand, OIAA Board Chair, confirms this view: “The board is invested in this community and takes its stewardship role very seriously. To lose this commitment and focus would be a loss for the community.” All of these factors suggest to the Ottawa Airport’s Laroche that the idea of selling off these critical assets should be shelved. This is in no one’s long-term interest “While the possibility of a shortterm cash injection is appealing to the federal government, ultimately the cost to our passengers and communities is not in anyone’s long-term best interest.” To find out more, please visit www.yow.ca/ctareview.
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LOCAL COUPLE HELPING REBUILD NEPAL, ONE WRAP AT A TIME An Ottawa cashmere company is selling scarves and wraps in this country that help to rebuild classrooms in Nepal. Corala Cashmere – the brainchild of husband-and-wife team David Venn and Prajeena Karmacharya – sells items online
David Venn and Prajeena Karmacharya of Corala Cashmere. PHOTO COURTESY METRO
Airport Sell-off: Bad for Passengers and Communities
MONDAY, DECEMBER 5, 2016
ttawa fintech firm Telepin Software has landed a deal to become the mobile financial services platform provider for Mascom Wireless Botswana, the country’s largest wireless provider. The deal positions Telepin as the provider of a mobile money solution with the potential to revolutionize financial services in the country. Botswana’s current financial sector is largely informal, with 97 per cent of transactions carried out in cash, according to Telepin’s release. Many African nations are considered “underbanked,” referring to a lack of penetration in banking by traditional means. On the other hand, Botswana boasts one of the highest mobile phone penetration rates in the world, approaching 170 per cent. That, Telepin CEO Vincent Kadar says, is where the opportunity for Telepin lies. Telepin offers a turn-key, white label solution to Mascom’s clients using its existing mobile money platform. Customers can deposit money with agents across Africa, and can then send and receive money, pay bills and purchase air time, all through Telepin’s digital wallet. Since the platform is entirely text-based, the application can run on a 2G network with no need for a smartphone. According to the company, Telepin’s software is enabling 45 million digital wallets across the world and is processing more than 50 million transactions a day across its customer network. Entering Botswana is just the latest step for the company into the African market, where Mr. Kadar says there will be additional announcements in the near future. Mr. Kadar says the traditionally informal African market isn’t turning to established wire services such as Western Union and Moneygram, where transfers are usually accompanied by significant transactional fees. He says Telepin’s partners often charge little to nothing in fees for peer-to-peer transactions.
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The NCC has selected Tunney’s Pasture as its choice for the new Civic campus, but Michael Prentice isn’t a fan of the site. PHOTO BY MARK HOLLERON
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New Civic site needs strong dose of public input
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NCC bureaucrats made the wrong call on Tunney’s Pasture choice, Michael Prentice argues, and Ottawa residents must be allowed their say on all options
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e, the people of Ottawa, need to make our collective voice heard before the Liberal government of Justin Trudeau picks our pockets, potentially for hundreds of millions of dollars. The stakes are huge in a bitter fight now looming over where to locate a new state-of-the-art hospital that will serve our city for up to 100 years. If ever there was a consumer fight worth fighting, this is it. Our money will pay for the hospital, every penny. No one but the citizens of Ottawa – not even the federal government – should dictate where we put it, or determine how much we pay for it. Ottawa Hospital administrators believed they had the ideal site when the former Conservative government of Stephen Harper offered federally owned farmland across Carling Avenue from the existing Civic hospital complex and the Heart Institute. Then the Liberals came to power just over a year ago and cancelled the land transfer. Insufficient consultation with stakeholders was given as the reason – or was it an excuse, made for petty political reasons? The farmland is part of the government’s Central Experimental Farm and does valuable research on cropgrowing. Why couldn’t this land be relinquished for a vital public good? It’s still not clear.
Wendy Baily, 238-1818 ext. 244 wbaily@obj.ca Carlo Lombard, 238-1818 ext. 230 carlo@obj.ca MARKETING & SALES CO-ORDINATOR Cristha Sinden, 238-1818 ext. 222 cristha@greatriver.ca CREATIVE DIRECTOR Tanya Connolly-Holmes, 238-1818 ext. 253 creative@obj.ca ART DEPARTMENT Regan VanDusen, 238-1818 ext. 254 regan@greatriver.ca
Why couldn’t Experimental Farm land be relinquished for a vital public good? It’s still not clear. No matter how valuable the land might be for agriculture research, the health and welfare of some one million people is far more important No matter how valuable the land might be for agriculture research, the health and welfare of some one million people is far more important. Are there alternatives to the Experimental Farm site for a new hospital? Of course. But they would probably cost a lot more to develop. How much more? No one knows. But I believe the figure could run into the hundreds of millions of dollars. How do I come up with that figure? According to the Ottawa Citizen, the new hospital could cost the hefty sum of $2 billion. Surely there would be the potential for savings of several hundreds of millions of dollars by choosing the least expensive option over the most expensive option.
But what’s a few hundred million dollars, when it’s someone else’s money? That’s the way governments tend to think. It’s not the way we think. Each $100 million spent on the new hospital will cost $100 for every child, woman and man in the city. You think the federal government will pay a share? Or the provincial government? Or the city? Not a chance! Every penny will be our money, no matter which level of government collects it. The Trudeau government – which is big on public consultation – sought the advice of the National Capital Commission (which is part of the federal bureaucracy) on where to put the new hospital.
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Creating value The NCC – apparently without having any idea of the cost of the various alternatives – recently proposed putting the new hospital on a 20-hectare site at Tunney’s Pasture. This is in a congested area of federal office buildings just west of downtown. Putting a hospital on the site could mean the upheaval of thousands of public servants, with all the replacement costs that would involve, and would require a number of buildings to be demolished. Now it’s up to the Liberal government to decide whether to accept the NCC’s advice. And it’s up to the public to persuade Mr. Trudeau and his government to reject the NCC’s recommendation and re-offer that farmland. The Ottawa Hospital’s board of governors weighed in shortly after the NCC announced its choice, voting on Nov. 28 to reject the Tunney’s Pasture site. The board cited concerns over the cost of demolishing existing buildings, road access to the new campus for drivers and the timeline for completing the project. Two former mayors – Jacquelin Holzman and Jim Durrell – have taken on a leadership role in the fight. They are urging the public to make their views known to Heritage Minister Melanie Joly at Melanie.Joly@parl.gc.ca.
But it’s tough for individuals to make a positive difference on government policy. What we need is a true test of public opinion. The matter is so important, why not have a citywide vote? Seeking the public’s opinion has a tendency to run against the preferred outcomes of the elite, and as such is currently out of favour. Look no further than the outcome of recent votes in the United Kingdom and the United States for proof. In the absence of a citywide vote, we need some good, honest polling of public opinion. But any such public polling must include the estimated cost and estimated time frame of the various alternatives. Ottawa Hospital administrators believe they could move to a new home across Carling Avenue in 10 years. It’s been estimated that it could take 20 years to build a new hospital at Tunney’s Pasture. Surely the latter choice is unacceptable, is it not?
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Location. Location. Location.
Did you know … In the first half of this year, 61 homes sold in Vanier. About 72 per cent of them sold for less than $400,000. Compare that to
Developers understand Vanier is the next place to be Revitalizing a neighbourhood is never easy, but nothing worth doing ever is. Vanier has become a hive of activity in recent years as developers pursue various projects to give old landmarks a new lease on life and remake old properties into something new. It all comes down to dollars and cents – these savvy businesspeople see the value of being part of a new Vanier that remains true to its roots.
Contributing to Vanier’s authenticity
A cheerleader wooing new commercial residents
UNIQUE IDENTITY
Vanier is the place to be
LIKE WESTBORO AND HINTONBURG BEFORE IT, THIS COMMUNITY IS HOLDING ONTO
AND CHARACTER AS IT RENEWS ITSELF.
“We have pushed the idea of Vanier to different tenants around town, for both office and retail,” Goldberg said. “When they come and see this building and all the activity in Vanier, they see the area in a new light. We believe in Vanier, and we are excited to be part of its rejuvenation.”
A developer and a new resident
Over near McArthur Avenue, Longwood Building Corp. is preparing to break ground on Sonia by the Rideau.
Businesses want affordable, quality real estate in a community that’s rich with character, shops and services. Young professionals want an affordable and stylish living option close to downtown in an “authentic” community that walks to the beat of its own drum. They can all find what they want in Vanier, and this is just the beginning. To learn more about business and investment opportunities in Vanier, visit www.vanierbia.com or call the Quartier Vanier BIA office at 613-745-0040.
the same period priced under that amount. In the Preston Street area, only 24 per cent of homes sold for less than $400,000. In the Chinatown area, it’s only nine per cent. Another point to consider – all these other neighbourhoods also saw far less selling activity than Vanier during this period. “Based on these residential stats of central areas that are in similar gentrification as Vanier, nothing compares to Vanier in terms of affordability and volume,” says Subhir Uppal, broker/ manager with Metro Ottawa-Carleton Real Estate Ltd. “You can buy a decent detached home in the $200,000 to $400,000 range which is not the case in comparable urban areas.”
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Ryan Goldberg, Director, Investment and Leasing at The Regional Group, agrees. “Like Westboro and Hintonburg before it, this community is holding onto the best of its unique identity and character as it
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This eight-storey luxury condo development offers 70 suites and 29 different floorplans. Suites feature nine-foot ceilings and curved high-efficiency window walls. Two months before construction is due to start, the Sonia is already more than 50 per cent sold. Project Manager Florent Filion has already purchased one of units and will become a resident of Vanier for the first time when the building is complete in 2018. Why did he choose to move to Vanier? “This is a great location with a view of Rideau River, only five minutes from downtown, with easy access to community services such as hospitals and just down the road from the airport,” he said. “It’s all the benefits of living downtown without having to be right downtown.” Like Domicile and Regional Group, Longwood is committed to maintaining the community character that makes Vanier unique. “Every community needs to revitalize itself with new residents,” he said. “We are serving that need with a residential property that fits in and benefits everyone.” Filion expects new developments like the Sonia to appeal to local government workers and perhaps even draw back to Vanier residents who may have left. “We considered no other neighbourhood for the Sonia,” he said. “Everybody knows Vanier is the next place to be.”
of the homes sold during
MONDAY, DECEMBER 5, 2016 MONDAY, OCTOBER 10, 2016
One of these is Domicile, co-founded by long-time area resident John Doran. Over the past 40 years, Domicile has built a strong reputation across the National Capital Region for infill developments that drive neighbourhood rebirth. According to Domicile Senior VP David Chick, Vanier is on the crest of the same wave that swept through Westboro after Mountain Equipment Co-op moved in. “We have a good feel for Ottawa and communities with great potential,” he said. “Since we entered the Vanier market we’ve seen a ton of new investment follow us. People see the potential.” Domicile first ventured into the Vanier market eight years ago, with the 37-unit River Court Lofts condo development. Recently, it has reclaimed an old Esso gas station site in Vanier’s Beechwood Village for The Kavanaugh. This is Domicile’s largest build to a date, a 124-unit condo with the builder’s signature features – a grand lobby, a rooftop sunset lounge and terrace, and ground-floor retail. It’ s also a completely smoke-free building. The key to a successful infill project is respecting the character of the existing neighbourhood, Chick said. “I personally like the Kavanaugh site because it anchors the northeastern gateway to Beechwood’s eclectic mix of shops, businesses and services. We like that – places that are organic and have a certain authenticity to them. You certainly find that along Beechwood and in the rest of Vanier.”
renews itself,” he said. “More people will choose to locate a business here, live here and invest here, but everyone – residents, business owners, property owners and the City of Ottawa – must work together to ensure growth and development is done responsibly and for the overall benefit of the community.” The Regional Group has been active in the local commercial and residential real estate markets for almost 60 years. It manages a number of commercial properties in the Vanier area, but its latest gem is the revitalization of the old Desjardins building on Montreal Road. This five-storey building offers ground floor retail with office space above.
Hintonburg, where only half
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Women drawn to “hands-on” charitable giving When it comes to charitable giving, more and more, donors want to know where their money is going and how it will make an impact. Research shows that women in particular are interested in being actively involved in the giving process, so they can feel a connection to the cause they are supporting, and better understand the lives that are changed by their generosity. Enter: Giving circles – a form of collective philanthropy that has grown in recent years, especially among women. Giving circles bring donors together to pool their resources and invest in areas they care deeply about. Spark, a United Way-led initiative, follows this style of philanthropy. Spark brings community-minded women together to connect, invest, collaborate and initiate change in Ottawa. Spark members invest in the sparkFund, and invite proposals from community leaders for initiatives to support. Together, spark members then review the proposals and vote on how to distribute funds.
Spark members, many of whom are seen as leaders in the community, have regular member meetings and networking events.
“It’s rewarding to see the kind of difference we can make when we work together,” said Jane Bachynski, spark Chair and Founder. “Through spark, I’ve been able to meet a great group of women and work with them to make our community a better place.”
Since 2014, the sparkFund has raised over $100,000 and supported resident-led projects that benefit women, their families, and their neighbours. These projects work to increase social interaction, reduce isolation, and improve community safety in Ottawa’s at-risk neighbourhoods. The
Spark members attend a networking event at Play Food & Wine. community of Ashgrove, for example, received a grant to build the necessary skills and tools to grow and maintain a community garden—beautifying the neighbourhood and increasing access to fresh produce. Together, members are empowering women to become leaders and spark change in their community. Learn more about becoming a member at sparkottawa.ca.
MONDAY, DECEMBER 5, 2016
Get more back at tax time: Donate by December 31
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As 2016 comes to a close and holiday shopping is in full swing, another important deadline looms: making your charitable donations. If you give to a charitable cause by December 31, you could get almost half your donation back at tax time. The Canada Revenue Agency provides financial incentives to encourage Canadians to donate to charity. Donations up to $200 are eligible for a 15 per cent tax credit and donations over $200 receive
29 per cent back. Better yet, if it’s your first time donating to charity you will get an additional 25 per cent off of your donation amount—combined with the other credit that’s almost half your gift back in your pocket. It’s not too late to make a difference in the lives of Ottawa’s most vulnerable this holiday season. Please give generously, and donate at unitedwayottawa.ca. You will receive an automatic tax receipt.
AWARDS Ottawa shines at Startup Canada gala
Reserve a private suite for the holidays!
BY DAVID SALI david@obj.ca
A
Suzanne Grant and Michel Pigeon of iBIONICS. FILE PHOTO
Fathi, who has been a mentor to up-andcoming entrepreneurs at organizations such as Kanata’s L-Spark accelerator. “If you’re a smart person, it’s very easy for you to shine and to move on. But in many cases, people are smart but you don’t notice them. You have to give them the opportunity. Throughout my career in high tech … the interest that I have is to look at people that other people overlooked for a variety of reasons. It’s the most fulfilling thing when you see somebody excel.”
Mandeville Private Client Inc. Welcomes Mitch McLean! Mitch McLean Financial Advisor CFP, RRC
Mandeville Private Client Inc. (“Mandeville”) is pleased to announce the appointment of Mitch McLean as Financial Advisor to our Mandeville Associate office in Ottawa. Mr. McLean has built a successful wealth management practice created on a foundation of trust, leadership and vision. Mitch has become a respected well-known source of financial advice and information in the Ottawa area. Mitch embarked on his career in financial planning and investment advice in 2006 and has since attained professional designations such as Certified Financial Planner (CFP®) and Registered Retirement Consultant (RRC®). Mitch was also named one of Ottawa’s Top Forty under 40 in 2011 for business excellence and community involvement.
Please contact Mitch at 613.728.0101 x224 at Mandeville Private Client Inc. 610-1565 Carling Ave. Ottawa, ON. K1Z 8R1
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Suites accommodate groups of 12 to 120 people, include FREE PARKING and a minimum of $250 in CATERING CREDIT!
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n Ottawa-based company that uses groundbreaking laser technology to restore sight to people with impaired vision has been named the latest winner of the Startup Canada Innovation Award. The firm, iBIONICS, was one of two local winners at Startup Canada’s awards ceremony in Toronto on Nov. 29. Veteran tech executive Eli Fathi, who is now CEO of analytics firm MindBridge AI, was named winner of the Startup Canada Senior Entrepreneur Award. They were among 16 companies and individuals honoured at the third annual event sponsored by Startup Canada, a national organization that offers advice and resources to entrepreneurs. Earlier this year, the founders of iBIONICS – which is developing a bionic eye system to restore vision in people with retinal degenerative diseases using a diamond retinal implant and laser-beam glasses – told OBJ they believe the business will eventually take in revenues of up to half a billion dollars per year. The company is currently in the process of optimizing the product’s design and is conducting pre-clinical trials of the surgical technique in Montreal. It hopes to reach the in-human clinical trial stage within 24 months with the goal of bringing a product to market in the next five years. “The technology is almost perfect,” chief operating officer Michel Pigeon said in an interview last summer. “It has all these beautiful properties, and the technology is really disruptive … If you have something that’s highly differentiated and best-in-class, then you know you have something big.” Mr. Fathi’s award caps off a momentous couple of months for the serial entrepreneur. In October, the Israeli immigrant who came to Ottawa as a student in the early 1970s received Algonquin College’s Alumni of the Year Award. Among Mr. Fathi’s many achievements is co-founding survey software startup Fluidware, which grew into a thriving company that employed more than 70 people before it was acquired by California-based SurveyMonkey in 2014. Yet the tech veteran told OBJ in a recent interview he gets even more satisfaction out of helping young entrepreneurs become successful businesspeople in their own right. “To me, you cannot have corporate success without giving back,” said Mr.
Celebrate with the Sens
VENTURE CAPITAL Ottawa clean-tech firms charged up about new VC fund BDC’s pledge to invest $135 million in startups bodes well for emerging local sector’s continued growth, industry experts say BY DAVID SALI david@obj.ca
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aN Systems believes it’s on the verge of becoming a clean-tech industry powerhouse, and Larry Spaziani can barely contain his own energy when talking about it. “We’re focused on growing a business, but it sure feels good when you can do it and save an enormous amount of energy (costs for clients),” said Mr. Spaziani, the Kanata-based company’s vice-president of sales and marketing as well as its acting general manager. GaN Systems in one of about 240 local firms in the clean technology cluster and among its most successful. The company
– one of only a few in the world that manufactures ultra-fast, super-efficient semiconductors using a compound called gallium nitride instead of the traditional silicon – now employs 52 people, about three-quarters of them in Ottawa, and last year landed $20 million in venture capital funding. Part of that round came from the Business Development Bank of Canada’s ICE Venture Fund, which invested in 18 promising clean-tech startups across the country. Mr. Spaziani said the capital infusion allowed the fledgling business to fortify its testing facilities and its operations team, including its sales and marketing staff, in its bid to scale up. The company has since expanded its customer base from just three clients to
nearly 1,000, ranging from Vancouver to New Zealand. Its annual revenues have hit seven digits, and the firm has set its sights on an ambitious goal: becoming a $100-million enterprise within three years. Mr. Spaziani says GaN’s technology can make electric car engines 30 per cent more efficient and save data centres – buildings with thousands of servers that store information for the likes of Google and Microsoft – millions of dollars a year in electricity costs. “That’s why BDC invested in us,” he said. “They see the impact this technology can bring.” BDC’s initial fund was so successful the crown corporation launched a follow-on last month, pledging to invest another $135 million in a new fund to aid more startups
GaN Systems’ Larry Spaziani. PHOTO PROVIDED
in the clean-tech sector. “Our goal is to intensify our support for innovative Canadian entrepreneurs who are leading the way in the transition to a lowcarbon economy,” said Jerome Nycz, BDC Capital’s executive vice-president. That’s music to the ears of industry insiders such as Mr. Spaziani and Blair Patacairk, the director of investment and trade at Invest Ottawa. They say the capital is an emerging force
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“This is still an emerging sector, and with the advent of the clean technology companies that are here, this is a welcome opportunity for these companies to try and get some venture capital.”
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in clean-tech, with more than 4,600 workers now employed in the sector, and BDC’s recent announcement will only help fuel more innovation in the field. “This is still an emerging sector, and with the advent of the clean technology companies that are here, this is a welcome opportunity for these companies to try and get some venture capital,” Mr. Patacairk said. The uncertainty surrounding some existing government-funded efforts to boost the clean energy sector such as Ontario’s Feed-In Tariff Program makes BDC’s latest fund all the more important, he added. He believes many of Ottawa’s young clean-tech enterprises are “right in the wheelhouse” of
what the bank is looking for when it comes to funding opportunities. The federal Liberals appear to be putting a high priority on clean-tech initiatives, Mr. Patacairk said. Having a local MP, Catherine McKenna, in charge of the environment portfolio can’t hurt the Ottawa industry’s chances of success either, he added. Programs like the new BDC fund can help new firms find their footing before venturing into international markets, he explained. “If they can cut their teeth on their own home turf, it’s way easier” for clean-tech companies to sell their products abroad, Mr. Patacairk said. “We’re really starting to see traction.”
Perley-Robertson, Hill & McDougall uncovers what the legislative framework will be like for Canada. Read more here: www.techopia.ca/perley An experienced Ottawa lawyer with over 30 years of experience, Tim McCunn is member of the Business Law Group at Perley-Robertson, Hill & McDougall. Tim’s practice is focused on corporate/commercial and securities law with particular emphasis on mergers and acquisitions and corporate finance for the technology and life science sectors.
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Think you need to replace your roof? Think again
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MONDAY, DECEMBER 5, 2016
rnie Cecchetto thinks of himself as a conservationist. The president of Ottawa-based Roof Maintenance Solutions (RMS) has a simple goal: Help commercial building owners and managers extend the life of their roof.
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An industry veteran with more than two decades of experience, Cecchetto says he saw a gap between traditional roofing contractors and inspectors. No one, he says, was dedicated to preventative maintenance. This is particularly problematic for property owners. A leaking roof, in many cases, leads to a full replacement even though in most cases as little as five per cent of the entire system may be deficient. “We don’t have a vested interest in the early replacement of a roof,” Cecchetto says. “We’re all about the sustainability of current assets.” One of the company’s strategies is to use a combination of practical and high-tech tools to find and address issues before serious problems occur. RMS starts most jobs with a magnetic sweep of the roof, collecting construction debris such as nails and metal shards. “It’s amazing all the things you pick up,” Cecchetto says. “They’re all puncture hazards, especially in winter when there is lots of ice on top.” Finding the source of a roof leak can be difficult to trace, since moisture can travel considerable distances between the point of entry to where it eventually seeps inside a building.
A&E Events such as Bluesfest can help attract talent to cities, a new study suggests. FILE PHOTO
Use arts scene to attract workers, local group urges BY CRAIG LORD craig@obj.ca
A That’s why RMS also uses specialized meters and electronic leak detection equipment to locate moisture below a roof surface, as well as tiny pinholes that are typically difficult to locate with regular inspections. In one case involving a light industrial property on Iber Road, RMS was able to locate and repair holes that had eluded six previous traditional roofing inspections, Cecchetto says. The property was managed by one of RMS’ growing list of clients, which already includes Minto Properties, Carleton University, RioCan and Manulife. In recognition of the quality work RMS provides these organizations and others, the company was named a Pinnacle Award recipient for customer service earlier this year by BOMA Ottawa. “Among our core accounts, I have yet to lose a client,” Cecchetto says. “They see the value and never look back.”
s a growing number of businesses confront what they perceive as a shortage of skilled workers in Canada’s capital, an association representing the city’s festivals is making the case for companies to value of the impact of the arts on their bottom lines. The Ottawa Festivals Network has released a new multi-year strategic plan and held a conference in late November aimed at helping local businesses leverage Ottawa’s arts and culture community. Among the speakers was pollster Nik Nanos, whose research firm recently looked at the value of arts and culture investments in attracting skilled workers to a city’s businesses. “Traditionalists tend to see arts and culture as a soft investment. We really should be thinking about it as a hard investment,” Mr. Nanos says. Companies can signal their interest in the arts beyond sponsoring festivals or passing out tickets to the National Arts Centre, he says. Businesses often make it a priority for employees to be able to volunteer or make charitable contributions, but the study indicates that making time for workers to be involved in local arts and culture activities may hold high returns as well. The study, commissioned by Business for the Arts, found that 65 per cent of skilled workers surveyed feel a thriving arts and culture scene is a driving factor when considering to relocate. An equal proportion of businesses surveyed agreed a city’s arts and culture offerings can help to attract talent. Yet, there appears to be a disconnect. Only one-quarter of all businesses surveyed say they make annual financial contributions to the arts, while an additional 16 per cent say they do so on an irregular basis.
“I think this is a bit of a missed opportunity for businesses,” says Mr. Nanos. He says he was surprised to learn that workers in the high-tech knowledge sectors actually tended to be more likely contributors to and consumers of the arts rather than sports and physical activities, an area of attention for many businesses. The Ottawa Festivals Network is hoping the emphasis on festivals and celebrations to mark Canada’s 150th anniversary next year will help underscore its message. “It’s a good time to take stock of where we are today and the importance of cultural events going forward,” says Carole Anne Piccinin, executive director of OFN, now in its 20th year. “We really want to build momentum off of (2017), and we really want to avoid any hangover.” The organization’s new strategic framework is a result of a year’s worth of consultations with OFN staff, stakeholders and the public. It focuses on fostering entrepreneurial mindsets and collaboration within its network. Last month’s summit also featured a panel including representatives from Shopify and Beau’s Brewery, companies Ms. Piccinin says are examples of local businesses making rewarding investments into Ottawa culture. She adds that events are a great way for businesses to leverage brands and provide value back to the communities they operate in. “We’re hoping through that dialogue we’ll inspire others to get engaged,” she says. Ms. Piccinin says that while she’s happy with the 20-year partnership OFN has with the City of Ottawa, further investment in the festival and event space is in the best interest of both the public and the private sector. “Would I like to see more support for festivals? Absolutely, because we believe that we have much to contribute, and we do contribute greatly to the economy of our city,” she says.
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Hydro Ottawa gives electric vehicles a boost Teams with industry leader ChargePoint to install workplace charging stations
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hen it comes to corporate commitment on issues like environmental sustainability, is yours an organization that delivers on its claims? As part of its Environment Sustainability Strategy, Hydro Ottawa actively promotes energy conservation in the community and strives to make its own operations more sustainable. Most recently, the company has partnered with ChargePoint to install EV charging units at two of its office locations, accommodating a total of six car-charging spots. The new additions to the parking lots mean employees at the province’s largest municipally owned producer of green energy can
top up their vehicle battery, for a small cost, while they work. After being installed in late November, this innovative solution has already sparked interest amongst staff. There’s no denying the growing popularity of the lost-cost, low-carbon emission vehicles in the Nation’s Capital. A 2014 Hydro Ottawa study in partnership with Pollution Probe found that close to half of all potential early EV adopters use their vehicles every day, and that the majority of vehicle commuters park in an employer-provided lot. “As a company that prides itself on its environmental stewardship, I’m very pleased that we’re able to offer this to our own EV owners,” says Hydro Ottawa President and Chief Executive
Officer Bryce Conrad. “We’re in that position to both serve, and drive, the growth of EVs.” While the charging stations for its staff are a first, it’s not Hydro Ottawa’s initial foray into the EV landscape. Its own vehicle fleet boasts several green vehicles, including EVs, hybrids, flex-fuel, and those with battery technology. The company has been involved in studying EV adoption in Ottawa, partnering on the Electric Mobility Adoption and Prediction report with Pollution Probe, which studied the impact of expected charging demands on the local electricity grid. Conrad says energy efficiency is an issue in transportation as much as it is in electricity use. “EVs are destined to become an everyday part of our electricity consumption profile. It’s important for Hydro Ottawa to show leadership, given our focus on sustainability.” ChargePoint was a natural fit as a collaborator, given its experience operating the world’s largest EV charging network. Drivers can use the ChargePoint
A Hydro Ottawa employee plugs in to renewable power
mobile app to find charging stations, check charge status, manage their activity, and more. Given its digital technology, the company will be able to routinely measure the stations’ impact on reduced emissions. So, consider: what can your business do to “walk the talk” of its environmental commitment? Learn more about EVs in Ottawa and sustainability at Hydro Ottawa by visiting: https:// hydroottawa.com/environmentalcommitment.
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Scott Helmer Icelandair Technical Services; Boeing; AVG175 Technologies Canada Inc.* engineering operations of aviation and aerospace ON Dr. K1m 1W8 200 Marco chief nancial 1996 N Thales; Pratt & Whitney; Ethiopian Airlines;Provider 1125 Ottawa, Innovation La fi Vecchia of remote monitoring and management software companies. Business consulting; implementation; Y IT service providers, andBAE Systems; for IT 613-576-2480 / 613-576-2484 officer Lockheed Martin;resellers U.S. Navy; Ottawa, ON K2K 1X7 147 vice-president, 2013 services providers; anti virus; online back-up; NOC; integration; training; 24-7 support NYSE: AVG distributors mxi.com Swedish Defence; Southwest Airlines 613-232-1000 Americas HelpDesk; content filtering; email security services avg.com Cistel Technology Inc.* Provides system integration and consulting services to 200-30 Concourse Gate public and private sector organizations of all sizes. SMART Technologies ULC Nishith Goel Ottawa, ONDr.K2E 7V7 175 1995 Y N WND Services include Microsoft Practice, IT managed services, 501 Palladium Interactive whiteboard; interactive displays; interactive president and CEO K-12 and higher education; business; 613-723-8344 / 613-723-8502 IT security privacy, management consulting, Kanata, ON K2V 0A2 125 1987 NASDAQ: SMT tables; student and response systems; document cameras;and full government; military and custom solutions cistel.com staffi ng services. 613-963-0801 / 613-271-1888 TSX: SMA line of interactive learning software smarttech.com You.i TV 310 - 2500 Solandt Rd. You.i Engine is an app platform built on the principals of RealDecoy Jason Flick Kanata, ON K2KSt.3G5 170 2008 N Rogers; Corus; Sony; Adobe; CFL video game engines: design-centric, cross-platform code 100-205 Catherine American Greetings; Marriott; OffiTurner; ce Depot; CEOIsaac Richard 613-228-9107 with GPU performance. Ottawa, ON K2P 1C3 110 2000 N Hasbro; Sears Canada; Government of Plans, manages and develops digital solutions. youi.tv CEO 613-234-9330 Canada; NAPA Auto Parts www.realdecoy.com Airbus DS Communications* Delivers intelligent communications management and (formerly Cassidian) Jeroen de Witte response systems for the public safety industry, including GasTOPS Ltd. Canadian Air Force; Canadian Navy; USAF; 300-200 Technologie Blvd. 165 chief technology 1979 N communications routing, switching and call-management 1011 Polytek St.QC J8Z 3H6 U.S. WND Army; Vector; IMP; PAL; Cougar Control system and health management products for Gatineau, David Muir offi cer hardware and software, as well as radiomarine communication Ottawa, ON K1J 9J3 107 1979 N Helicopters; Pratt & Whitney; Avio; UTC critical machinery assets in the aerospace, and 819-778-2053 / 819-778-3408 president and CEO consoles. 613-744-3530 / 613-744-8846 Aerospace Systems; GE; Senvion; Siemens; energy market sectors. airbus-dscomm.com gastops.com Nordex, Moventas; EdF; RWE Irdeto Digital platform security, protecting platforms and WND = Would not disclose. *Did not respond to 2016 years. 300-2500 Solandt Rd. survey – using data from previous Jaco Du Plooy Rogers; Comcast; Charter; Cablevision; applications across multiple industries, such as media and Should your company beOttawa, on this list? If so, please Thisvice-president list is current as of of December 1, 2016.1969 © 2016 by Ottawa reserved. ThisLiberty material may not beEnglish reproducedPremier by any method inentertainment, whole or in part without written permission by Ottawa Business Journal.and ON K2K 3G5send details to research@obj.ca 150 N Business Journal. All rights Cablecom; Global; payments and automotive. Solutions While every attempt is made to ensure the thoroughness and accuracy of the list, omissionsengineering and errors sometimes occur. Please send any corrections or additions by e-mail toLeague; research@obj.ca. OBJZiggo; lists are primarily providedto voluntarily the organizations named. Some firmsrevenue, that may 613-271-9446 / 613-271-9447 Polsat; Foxtel compiled using information services enablebycustomers to protect their qualify for the list are not included because the company either failed to respond to requests for information by press time, because the company declined to take part in the survey or because of space constraints. Categories are drawn up in attempt to gather information of relevance to the Ottawa market. irdeto.com create new offerings and fight cybercrime. Research by Patti Moran. Please send questions and comments to research@obj.ca. Trend Micro Bill McGee Develops security solutions that make the world safe 200-40 Hines Rd. Major government departments – federal, senior vice-presiY for businesses and consumers to exchange digital Ottawa, ON K2K 2M5 150 1988 provincial and local; Fortune 1000 dent and general TYO: 4704 information. Server security; cloud security; small 613-599-4505 companies worldwide manager business content security trendmicro.ca
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82 92
104 105 126
137
148 159
10 15 10 17
12 18 13 19
14 20 15
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AVG Technologies Canada Inc.* 1125 Innovation Dr. Ottawa, ON K2K 1X7 613-232-1000 avg.com
147
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SMART Technologies ULC 501 Palladium Dr. Kanata, ON K2V 0A2 613-963-0801 / 613-271-1888 smarttech.com
125
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RealDecoy 100-205 Catherine St. Ottawa, ON K2P 1C3 613-234-9330 www.realdecoy.com
110
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GasTOPS Ltd. 1011 Polytek St. Ottawa, ON K1J 9J3 613-744-3530 / 613-744-8846 gastops.com
107
Marco La Vecchia vice-president, Americas
Richard Isaac CEO
David Muir president and CEO
2013
Y NYSE: AVG
IT service providers, resellers and distributors
1987
Y NASDAQ: SMT TSX: SMA
K-12 and higher education; business; government; military and custom solutions
2000
N
American Greetings; Marriott; Office Depot; Hasbro; Sears Canada; Government of Canada; NAPA Auto Parts
1979
RON JONAS
MASONRY REPAIRS Provider of remote monitoring and management software WATERPROOFING for IT services providers; anti virus; online back-up; NOC; HelpDesk; content filtering; email security services CAULKING Interactive whiteboard; interactive displays; interactive COATINGS tables; student response systems; document cameras; full line of interactive learning software CONCRETE REPAIRS Plans, manages and develops digital solutions.
• Masonry Repairs • Waterproofing 3717 ST. JOSEPH BLVD, ORLEANS, ON, K4A 0Z7 TEL: 613-837-0111 FAX: 613-837-6724 • Caulking • Coatings • Concrete Repairs N
Canadian Air Force; Canadian Navy; USAF; U.S. Army; Vector; IMP; PAL; Cougar Helicopters; Pratt & Whitney; Avio; UTC Aerospace Systems; GE; Senvion; Siemens; Nordex, Moventas; EdF; RWE
Control system and health management products for critical machinery assets in the aerospace, marine and energy market sectors.
WND = Would not disclose. *Did not respond to 2016 survey – using data from previous years. Should your company be on this list? If so, please send details to research@obj.ca This list is current as of December 1, 2016. © 2016 by Ottawa Business Journal. All rights reserved. This material may not be reproduced by any method in whole or in part without written permission by Ottawa Business Journal. While every attempt is made to ensure the thoroughness and accuracy of the list, omissions and errors sometimes occur. Please send any corrections or additions by e-mail to research@obj.ca. OBJ lists are primarily compiled using information provided voluntarily by the organizations named. Some firms that may qualify for the list are not included because the company either failed to respond to requests for information by press time, because the company declined to take part in the survey or because of space constraints. Categories are drawn up in attempt to gather information of relevance to the Ottawa market. Research by Patti Moran. Please send questions and comments to research@obj.ca.
www.jonasrestoration.com
RON JONAS
FOR THE RECORD People on the move Pythian has welcomed Matthew Abarbanel and Marc St. Louis to its team. As vice-president of technology services, Mr. Abarbanel is responsible for ensuring that Pythian’s technology services align with the strategic objectives of the company. Mr. St. Louis joins as director of information security and compliance, and will drive Pythian’s internal IT security program. Teslonix announced that Terry Clancy has joined the company as vice-president of sales and
marketing. He will help prepare the company for the impending release of the first generation of the IoT SmartKick solution. He brings a wealth of experience in the RFID and electronics article surveillance industry to his new position.
Hats off Impact Hub Ottawa and the City of Ottawa announced winners of the 2016 Ottawa Social Impact Awards. Surai Tea received top honours in the social enterprise category, while Helping With Furniture was given the award in the community-based initiative category.
FOR SALE
1947 Bank Street, Ottawa • Free Standing 4,635 sq.ft. + basement Lots of on-site parking! $2,150,000
Cheryl Kardish-Levitan, Broker 613-728-2000 • Direct: 613-604-0608 cherylkl@clvgroup.com CLV Realty Corporation, Brokerage
CANADA 150 If provided the option, would you support or oppose an exemption in 2017 for all retail businesses in Ottawa to open on statuatory holidays, with the exception of Christmas, Good Friday, and Easter Sunday?
ALL RESPONDENTS: n STRONGLY SUPPORT n SUPPORT n NEITHER SUPPORT NOR OPPOSE n OPPOSE n STRONGLY OPPOSE n NEITHER SUPPORT NOR OPPOSE
4% 12%
26%
13% 18%
28%
This data is part of the Ottawa Business Growth Survey. Conducted by Abacus Data and made possible by Welch LLP, the Ottawa Chamber of Commerce and the Ottawa Business Journal, the survey gathered input from hundreds of local businesses. A free 36-page report can be downloaded at www.ottawabusinessgrowthreport.ca.
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