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ABCtech #40 29MAY15 Uber Edmonton and Financing Your Tech Business
Never in history before have we seen so rapid, so pervasive, and so disruptive a transformation in the business of business. Every thing with a chip and a sensor can remember and is now being programm
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ABCtech #40 29MAY15 Uber Edmonton and Financing Your Tech Business
The internet continues to fuel a revolution in consumer gratification. Never in history before have we seen so rapid, so pervasive, and so disruptive a transformation in the business of business. Every thing with a chip and a sensor can remember and is now being programmed to learn! See HERE.
What are the limits and how far along is the transition? First, new applications are emerging from everywhere and seemingly daily. There is no telling where “the next big thing” – innovation, will emerge. What we do know already is that innovation contributing to consumer/client demand is already disrupting/ disinstitutionalizing: finance, education, transportation, security, and even government services.
We remain convinced that instant information access and data analytics are transforming the relationship between the consumer/client and the supplier/ professional. The trend is estalished, consumers are demanding and getting information making them very saavy purchasers. They are becoming so aware that “He who knows the customer best has no competition.” The “customization” of services poses serious challenges to public and professional services, both of which have historically had cozy monopolies and so lack relational skills to compete in an increasingly open market. And their services have become very expensive making them prime for customization. “Customization” is also the object for products and production, shortening product life cycles and introducing innovationis for customizing production.
In this Special Edition of QuikTech Notes we cite the emergence of UBER as an example. UBER’s innovation is in customizin a traditiional transportation service, with the promise of improved service for riders and disruptive implications for drivers.
For those near Edmonton, we are co-hosting a reception on June 17th for UBER Edmonton at the Yellowhead Brewery co-hosted with the Alberta Enerprise Group. FOR MORE or using the ABCtech discount code AEGABC register HERE
The UBER article is followed by an editorial on the financing of tech businesses by employing Tax Free Savings Accounts (TFSAs) engaging Canadians as tech investors. This option when understood and used, would introduce almost $100B into the investment market, prompting new investors and brokers to become more aware of the opportunities – and more savvy of the threats, of early-stage tech investing.
Also, please join us by registering for our all-industry, summer BBQ on June 29th – Moonlight in the Meadows: festive and funky, networking for fun! FOR MORE or Register HERE (Members no-charge) – Editor
Google Search Results – Uber Edmonton
Uber has proposed to introduce its services to Edmonton. While welcomed by many, the introduction of Uber’s mobile app that teams drivers with riders has stirred up controversy in nearly all 310 cities it operates including a recent decision by Edmonton’s City Council to resist. City Council’s injunction was rejected by the courts and a demonstration by taxi drivers followed. And in Montreal, the Mayor of Montreal is protesting that Uber is not licensed while Revenu Quebec wants Uber to pay taxes. Still 15,000 petitioners support it. FOR MORE Get up to date. Get informed. FOR MORE
The document contains search results related to Uber’s operations in Edmonton as of May 27, 2015. Key points include:
Uber Services: Uber offers ride-sharing services in Edmonton, allowing users to request safe, reliable, and affordable rides via their phone. Drivers can sign up to work flexibly and earn money using their own cars.
Legal Challenges: Uber faced legal opposition in Edmonton. The city attempted to stop Uber’s operations, but courts denied the city’s injunction request in April 2015, allowing Uber to continue operating despite being considered illegal.
Taxi Industry Opposition: The Edmonton Taxi Association opposed Uber, calling for vehicle seizures, fines, and legal action. Taxi drivers protested against Uber, citing concerns over public safety and competition.
Public Support: Some residents expressed positive experiences with Uber, and there was an online campaign to support Uber’s operations in Edmonton.
Social Media Presence: Uber Edmonton maintained a Twitter account to engage with users and promote its services.
Overall, the document highlights the controversy surrounding Uber’s operations in Edmonton, including legal battles, opposition from the taxi industry, and public support.
The document contains search results related to Uber’s operations in Edmonton as of May 27, 2015. Key points include:
- Uber Services: Uber offers ride-sharing services in Edmonton, allowing users to request safe, reliable, and affordable rides via their phone. Drivers can sign up to work flexibly and earn money using their own cars.
- Legal Challenges: Uber faced legal opposition in Edmonton. The city attempted to stop Uber’s operations, but courts denied the city’s injunction request in April 2015, allowing Uber to continue operating despite being considered illegal.
- Taxi Industry Opposition: The Edmonton Taxi Association opposed Uber, calling for vehicle seizures, fines, and legal action. Taxi drivers protested against Uber, citing concerns over public safety and competition.
- Public Support: Some residents expressed positive experiences with Uber, and there was an online campaign to support Uber’s operations in Edmonton.
- Social Media Presence: Uber Edmonton maintained a Twitter account to engage with users and promote its services.
Overall, the document highlights the controversy surrounding Uber’s operations in Edmonton, including legal battles, opposition from the taxi industry, and public support.
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Financing Your Tech Business? by Joseph Batty, Pro-Ventures Pathway
The most misunderstood financing phenomena in the country are TFSA’s (Tax Free Savings Accounts). The whole purpose for their existence (when they were created in 2009) was to provide a new source of capital for early stage companies. Has this worked? ……. NO!
The problem: there was no intermediate infrastructure or system in place to put the supply of money (the investor) in contact with the user of money (the tech companies).
As a consequence the vast majority of money has accumulated in banks, brokerage accounts and traditional products like mutual funds, etc. Simply put, these funds are now languishing in low yielding investments that serve no purpose in the tech community. But TFSA’s can be used to finance private corporations’ investment needs. The universal reaction to this explanation is either “I did not know that” or “no, you can’t do that”. Well the truth is “you should know this” and/or “yes, you can use TFSA money to finance your business”.
While there are several things you need to know and/or do to get your business “eligible”, this source of investment should be your next target. If you consider Albertans have placed over $20 billion in TFSA’s with virtually none of this money being used as it was intended, perhaps the tech community should pay heed to unlocking this massive amount of capital for use in their burgeoning businesses.
AND, the advantage to the investor is that when your business shows a profit and the investor can make some money from the investment, their profits are tax-free.
In 2009 when the program was introduced, there was no intermediate infrastructure or system in place to put the supply of money (the investor) in contact with the user of money (the tech companies). After over 6 years, there still is no such infrastructure in place. A project has been created to create such an infrastructure offering more seamless access to investment capital for early stage technology companies. FOR MORE
EVENTS CALENDAR
Calgary
June 9th – 2nd Annual Alberta Unmanned Systems Summit at the 2015 Global Petroleum Show
Contact HERE
Edmonton June 16th – Workshop: A Brilliant Idea Every 60 Seconds
Register HERE
June 17th – UBER Canada Reception
Co-hosted with the Alberta Enterprise Group Reception
ABCtech Discount Code –AEGABC
RegisterHERE
June 29th – ABCtech’s all-industry, summer networking BBQ
Members – No charge
Register HERE
ANNOUNCEMENTS
Technological Prospects for Reducing the Environmental Footprint of Canadian Oil Sands
The Council of Canadian Academies report examines the extent to which new and existing technologies have the ability to reduce the environmental footprint of oil sands development.
Gilead Sciences’ is investing $100M in establshing a pharmaceutical manufacturing plant at the University of Alberta …. advancing Alberta’s economic diversification as per the editorial’s quote.
“While Alberta’s dominant energy industry faces some big challenges ahead, amid predictions by some that the age of fossil fuels could come to an end within the next 20 to 30 years, the world of biotech faces explosive growth.”
Genetic Re-engineering of Ageing
By altering the behaviour of two genes responsible for the production of simple amino acids in human cells, scientists have gained a better understanding of how the process of ageing works, and how we could delay or perhaps even reverse it.
