Vancouver is going to be home to TiE Global Angels’ first Canadian TiE Incubation Lab.
Spearheaded by Founding Chair & Chapter President of TiE Vancouver Angels Maninder Dhaliwal, the Vancouver TiE Incubation Lab officially launches on February 1st with an invitation to all Canadian founders to apply for strategic advisory, hands-on support and access to the worldwide investor network of TiE Global Angels.
TiE Global Angels is an umbrella organization representing the TiE (The Indus Entrepreneurs) chapters in North America and their affiliated angel groups.
TiE was founded in Silicon Valley in 1992 by entrepreneurs with roots in South Asia, and is currently spread over 62 chapters in 14 countries with 15,000+ membership consisting of Angels, VCs, Private Equity, entrepreneurs, and service providers.
“We are a net exporter of ideas. Canada under-performs in converting research into high-value products and services for real world applications,” Dhaliwal, the Founding Chair of TiE Incubation Lab, told Techcouver.
“In Canada, we spend billions of dollars on research and development, but we fail when it comes to commercialization of these ideas. We are very good at innovation, but very poor at creating economic value from this innovation.”
Dhaliwal is not wrong. According to the World Economic Forum, Canada ranks 14th out of 17 peer countries when it comes to innovation, even though on a per-capita basis, our $7-billion federal annual investment into research and development (R&D) is far more generous than other OECD nations.
The TiE Incubation Lab will provide everything from crucial guidance on the final, often overlooked step of Canadian innovation in preparing for and securing investment funding.
TiE Incubator Lab is open for applications and 12 companies will be chosen for its inaugural cohort. Companies meeting the fundability criteria at the end of the six-month program will be provided access to the worldwide investor network of TiE Global Angels.