In this exercise, it was interesting to go back to browse the government programs that helped my own start-up over 10 years ago. I wanted to see if these organizations that had helped me were still around and how they had evolved since I took part in their programs. I was very curious to see what startups were now being promoted by these organizations and just how much bigger these programs have gotten.
After doing my research, I think that Paper.Co only partially related to the same initial "Canadian Start-Up Pipeline" I experienced when I was in the Toronto start-up scene.
It appears the initial rounds of funding for Paper, back when it was GradeSlam, did include some initial funding by BDC Capital through its Growth Venture Capital Fund. (Simpson, 2022). The oldest references I could find to show the connection between one of my Start-Up Pipeline Members, BDC and the predecessor of Paper.Co are below:
"GradeSlam and its one-on-one, chat-based tutoring platform has raised $1.6 million in a round led by Pittsburgh and San Francisco-based Birchmere Ventures... BDC Capital, members of Anges Quebec, Real Ventures, angels Brian Karol & Robert Luxenberg as well as Gradeslam’s own CEO Philip Cutler all took part in the round." (Czikk, 2016).
If anyone is interested in entrepreneurship in Ontario, I recommend the resources below. As challenging as my experience was back in the day, I can say with confidence that once a company has successfully joined programs like the ones below, they have been vetted by SMEs and experts as viable. They have at the very least, a solid business plan and financials that are good enough to warrant investment from the organizations.
If you can make it through this funnel, your venture has a legit shot!
Futurpreneur - (formerly CYBF, the Canadian Youth Business Foundation)
MaRS Discovery District - (formerly MaRS, Medical and Related Sciences)
Business Development Canada (BDC) - Startup Financing
Czikk, J. (2016, August 26). Gradeslam tutoring platform raises funding round. Montreal in Technology. Retrieved from http://www.montrealintechnology.com/gradeslam-raises-1-6-million/
Futurpreneur Canada. Retrieved from https://www.futurpreneur.ca/en/
Business Development Canada, (BDC). Retrieved from https://www.bdc.ca/en/financing/small-business-loan
MaRS Discovery District. Retrieved from https://www.marsdd.com/startup-services/
Simpson, M. (2022, February 15). Paper secures $343 million CAD with US schools drawn to its remote tutoring tech. BetaKit. Retrieved from https://betakit.com/paper-secures-343-million-cad-with-us-schools-drawn-to-its-remote-tutoring-tech/