Supporting startup success

New ventures need help to grow. That’s why Smith offers several annual programs that provide financial support and expertise to new businesses, helping them grow and thrive.

In our 2022-2023 year, these two competitions run through the Centre for Entrepreneurship, Innovation & Social Impact (CEISI) helped a number of entrepreneurs to develop their new businesses.

Dare to Dream

In May 2022, four early-stage business ventures led by Smith students were given a boost in funding from the Dare to Dream program. Two Commerce students, one Master of Management, Innovation & Entrepreneurship student and a team of Executive MBA students were awarded $15,000 each thanks to alumni and corporate donor support, as well as access to critical resources to build the following businesses

• Pally (co-founder: Jay Lee, BCom’22): a B2B SaaS tool that helps small businesses get their products into large retail chains. Users pay a monthly fee to create a profile and upload product information. They can then select which retail chains they want to work with and apply to get their products into retail stores using the software. Dare to Dream Donors: Dany Battat, BCom’78, and the late Gia Steffensen, BCom’78
• Fixvi (founders: a team of EMBA students): a SaaS platform that modernizes the relationship between homeowners and contractors for home repairs and renovations, stewarding the transition of the home service sector into the digital economy. Donor: RLS Foundation
• Majoun (founder: Manal Khader, MMIE’22): a premium edibles brand based on the origins of cannabis confections, which date back over 1,000 years to the ancient Islamic World. The brand incorporates all-natural ingredients and flavours based on authentic recipes. Donor: CIBC
• EcoPod (founder: Nikola Cugalj, BCom’22): a four-season backyard studio that can be used for work or leisure. The company currently offers customizable models that can be used for a home office, additional living room, art studio, wine room and more. Donor: Valerie Mann, BCom’86

Designed to support new ventures at the early stage of their business, Dare to Dream funding comes at a critical time in the building of the entrepreneurial pathway – it is simple, flexible, and alleviates the need for entrepreneurs to look for the backing of outside investors, allowing them to give full attention on the business. In addition to funding, recipients also have access to office space, coaching and mentorships.

“As a Dare to Dream recipient, I'm able to use the funds to continue the growth of my startup Pally, without looking at more complex forms of funding such as venture debt and venture capital, allowing me to focus on running the business and helping SMBs,” said Jay Lee.

UPstart Venture Challenge

In December 2022, four Smith-led ventures secured funding in the seventh annual UPstart Venture Challenge to accelerate their success. The event saw eight ambitious teams in competition. They pitched their business plans to a panel of experienced judges in the hopes of being awarded up to $60,000 in funding for their ventures. The winners were:

• ALPHASHINE (founder: Martin Kulinich, BCom’18): a tech company focused on revolutionizing the car detail service experience. Its web and app-based platform aims to offer a car detailing experience that is convenient, accessible and sustainable. Kulinich was awarded $22,500. 
• WaiveTheWait (co-founder: Tabassum Pasha, BCom’21, Artsci’22): a health tech company that provides AI automation for routine administrative tasks to streamline clinic workflows and free up staff and physician time. It is working with over 90 physicians across Canada. The company was awarded $22,500.
• Maziwa (founder: Sahar Jamal, BCom’11, Arsci’11): a social enterprise with the mission of empowering African mothers to balance their baby’s health with their family’s economic well-being. Its product, the Wema breast pump, is a discreet, wireless and portable electric breastfeeding device that allows mothers to express breastmilk in any environment. Maziwa’s Community Breastfeeding Ambassadors also provide peer-to-peer lactation support. Jamal was awarded $10,000.

The UPStart awards help aspiring entrepreneurs boost their businesses. “The money will be used towards further developing our logistics software to enable the program to maintain capacity across multiple cities,” said ALPHASHINE’s Kulinich. “Furthermore, the funds will enable our organization to gain further traction and data that will greatly assist us in securing our seed investment round.”

In addition to the three winners, UPStart also featured a $5,000 People’s Choice Award, which went to Hover, a Toronto-based food and grocery drone delivery service founded by Cameron Rowe, MMIE’20, Artsci’19. The company aims to be a sustainable and cost-effective alternative to traditional food delivery services.