VeloCity Entrepreneur Boot Camp has begun, Canada 3.0 is well underway and the VeloCity Spring 2010 students are ready-to-go!

Early yesterday morning the VeloCity team was out at Canada 3.0 amongst Canada’s top digital media leaders. The conference proved to be set to ensure that Canada will be leading the world in the digital media front with guests from Industry Minister Tony Clement, Sarah Prevette from Sprouter and Ian Wilson the Director of the University of Waterloo Stratford Institute Initiative, to name a few.

The VeloCity team then went on to join the VEB students as they gathered around the Conference style boardroom of the Accelerator Centre late Monday afternoon listening intently to the words of: Andrew Jackson (Accelerator Centre), Karen Gallant (Communitech), Andrew Abouchar (Tech Capital Partners) and Mike McDerment (CEO Freshbooks). The three VEB teams were given the chance to pitch their ideas to the boardroom using the common elevator style pitch to begin getting a better feel for what it means to live: A Start-up Life. Andrew Abouchar did a fantastic job of illustrating what an elevator pitch truly is, and the purpose of having a strong 30 second or less pitch sitting in your back pocket, for that faithful day when you get to meet an investor face to face! He emphasized what sets the “good pitch” from the “bad pitch”- my favourite tip of them all: Don’t tell your investor that you have no competitors! His advice, enthusiasm and experience made for a very interesting lesson on how to pitch to investors.

Mike McDermet then went on to talk about the importance of choosing the right business partner and the qualities that should be considered when doing so. Of major points to consider and “tests” to perform: 1. Do you enjoy this person’s company? 2. The 3 am test- if this person calls you at 3 am will you yell any of the 4 lettered words in your english vocabulary? and 3. If this person had breakfast with your family, would that be weird? The answers to these questions should help in your business partner decisions and should not be taken lightly!

The night finished off with a BBQ and some VeloCity student presentations. The semester is off to a great start and is set for some great success this spring term. Come out for lunch with VeloCity this Wednesday at 1pm in the Bomber to get to know the VeloCity students and learn more about what opportunities currently await you. This event is open to all UW students and all VeloCity external partners- so please don’t be shy!