Saint Mary’s students make their first venture capital investment in international travel start-up

Saint Mary’s University’s Venture Grade Fund, a student-raised and led venture capital fund, is making its first investment, $15,000 to travel start-up Trip Ninja.

Trip Ninja is a travel-planning software for use by online travel retailers such as Expedia or Priceline. When retail customers are booking plane trips to several different places, Trip Ninja helps online travel retailers find the best price. This multi-destination platform finds the best way to book the trip, whether travellers are flexible in their route or if they need to visit destinations in a particular order.

“It has been great working with Saint Mary’s University’s Venture Grade Fund, and seeing the confidence they have in our product,” said Trip Ninja Co-Founder, Andres Collart. “Saint Mary’s has helped us through reviewing aspects of our business with their MBA students who have a firm grasp on entrepreneurship and innovation. It’s been great working with an organization who is committed to helping start-ups and entrepreneurs have success.” 

The Saint Mary’s University Venture Grade Fund is a student-raised and run venture capital fund and the first student-raised venture capital investment fund in Canada in which the students raise the capital. Their fund is operating at about $200,000 currently.

The team seems to have chosen well as the fledgling travel tech company has attracted notable local, national and international investors, including East Valley Ventures, Innovacorp and other investors experienced in the travel industry. Innovacorp is also a supporter of Saint Mary’s University’s Venture Grade Fund’s assessment of Trip Ninja, and provided Venture Grade with half the capital required for their investment.

The team’s faculty advisor and mentor is venture capital expert and SMU professor, Dr. Ellen Farrell.

“This is a win-win-win situation,” said Farrell. “Venture Grade’s donors and partners like Innovacorp get to offer students an unparalleled experiential education experience, the students get the benefit of raising the capital and conducting due diligence, and the start-up spends the investment thus supporting their business.”

Should the company experience a successful exit, meaning if they are purchased for a large sum, the investors, including Venture Grade, will receive a payout scaled to the purchase. Any returns made on Venture Grade’s investments are returned to Venture Grade, the student fund.

The fund was started by students of Dr. Ellen Farrell at the Sobey School of Business at Saint Mary’s University in fall 2016, with a connection to Silicon Valley’s C100 group, Boston’s Canadian Entrepreneurs in New England, and initial support from Innovacorp. It has expanded to include members at other Atlantic universities including Acadia University, Dalhousie University, and Memorial University.

“Sobey School of Business and Saint Mary’s University are proud to offer students the opportunity to experience the risks and rewards of investing,” said Dr. Harjeet Bhabra, dean of the Sobey School of Business at Saint Mary’s University.

“With the School’s strengths in finance and entrepreneurship, the Venture Grade Fund could only have been created here. We’re proud to continue making an impact on our region and on the entrepreneurial ecosystem.”

Premier Stephen McNeil on campus to congratulate Enactus team on the success of the Square Roots food token program

Premier Stephen McNeil came to Saint Mary’s recently to congratulate Enactus team members on the success of the Square Roots food token program, as they prepare for a national competition. Enactus is a global student organization focused on addressing social issues through entrepreneurship. A total of 38 students are heading to Toronto next week to compete in the Enactus Canada National Exposition.

The Province of Nova Scotia recently supported Saint Mary’s work in entrepreneurship when it announced an $11 million investment for the creation of the Entrepreneurship, Discovery and Innovation (EDI) Hub on campus.

Graduate student team recognized for creativity at international competition

The Saint Mary's team

A group of four Saint Mary’s University students from the MBA, Master of Finance and Master of Applied Health Science Research programs have received a specially created prize for best creative AI idea at the International Graduate Competition this week in Montreal.

Students Stuart Clow, Soheil Ahmadi, Felix Han and Maxwell Poole travelled to HEC with coach, Dr. Chantal Hervieux, to take part in the International Graduate Competition. Competing teams included the National Chenochi University, Queen’s University, Universidad de Deusto, and RMIT University (Australia).

Although the Saint Mary’s team did not move on to the finals, they received very positive feedback from the AI industry professionals in attendance, who instigated the creation of a special prize for the top AI idea specifically for the Saint Mary’s University team. The proposed solution takes aim at Montreal’s complex pothole problem through a unique coupling of AI construction planning and novel private financing. The students may be asked to keep working on their proposed solution with the City of Montreal.

As well, Stuart was recognized as Best Team Player, for outstanding collaboration.

To register, the IGC requires a cross-disciplinary team (no more than two students from an MBA program). The Saint Mary’s team featured a skill portfolio in international business, strategy, finance and IT.

Collaboration is a key to this competition: for part of the week, students were grouped into their skill vertical to learn from each other. They then regrouped as a team to incorporate what they learned.

Saint Mary's team wins ‘Distinguished Delegation’ award for their work at Model United Nations

On March 29, the Saint Mary's delegation to the National Model United Nations (NMUN) in New York City, won a ‘Distinguished Delegation’ award for their work representing Bulgaria.

NMUN is the world’s largest Model UN, and can trace its founding back to the League of Nations. It is the only Model UN that takes place in the actual UN headquarters in New York, and sees 5,500 students from more than 130 UN member countries.

“It’s an extraordinary opportunity for students,” says Political Science chairperson Dr. Marc Doucet, “to get this kind of real-world experience, and interact with students from around the world.” Since Saint Mary’s first delegation in 2003, more than 200 students have attended, making the conference an opportunity to build international connections and gain a greater global perspective. This year was the most international Saint Mary’s delegation yet, with 21 students attending, from Canada, India, the Bahamas, Saint Kitts, Japan, and the UK attending. They represented fields of study including Political Science, International Development Studies, Economics, Sociology, and Business.

“It really strengthens our delegation because the UN is not solely political,” says Abby Dooks, a Political Science and International Development Studies student. “It deals with everything from education to human rights to business to economics, so you need that diverse expertise to understand the topics.”

This year, students visited the Bulgarian Permanent Mission to the UN, and met with diplomats at Bulgaria’s permanent mission to the UN, to discuss current global affairs and issues.

Dooks was attending this year for the second time. “The highlights were different from last year—this year it was really seeing other students achieve the same milestones I did last year, especially those were might have been nervous. One friend of mine was worried all year, concerned that she wasn’t going to be able to speak in front of the entire room, and so a highlight for me was when she did her speech and was just amazing. Those are the moments that make these experience so worthwhile.”

Student entrepreneurs from across Canada at Saint Mary’s for business development conference

Pictured here are (l-r): event organizer Kaitlyn Touesnard; Dr. Patricia Bradshaw, Dean, Sobey School of Business; Andy Fillmore, Member of Parliament for Halifax; Michael Sanderson and Sarah Meany, both of the Sobey School Business Development Centre.

Andy Filllmore, Member of Parliament for Halifax, helped welcome more than 180 budding business owners to the Starting Point Entrepreneurship Conference running at Saint Mary’s from Feb 20-22. Student entrepreneurs have come from across Canada to develop their business ideas, learn from experts and vie for business funding.

The conference brings student entrepreneurs from post-secondary institutions and high schools from across the country together to work with entrepreneurs, CEOs and start-up experts. The students have the chance to work directly with the entrepreneurs to help bring their business ideas to fruition or grow an existing business. At the end of the conference, students have a chance to win cash investments for their businesses.

“Young entrepreneurs play a crucial role in growing the Canadian economy and, as such, help ensure our country’s long-term prosperity,” said Andy Fillmore, MP for Halifax, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA). “Giving this latest generation of innovators the tools they need to succeed is critical to building a strong and vibrant future for all Canadians. The Government of Canada remains committed to supporting business start-ups and creating jobs for the middle class and those looking to join it.”

This conference wouldn’t be possible without the support of the local business community, key partnerships and financial support. This includes an investment of more than $150,000 over two years from the Government of Canada through ACOA’s Business Development Program.

The conference is organized by the Saint Mary’s University Sobey School Business Development Centre (SSBDC). Over the past five years, SSBDC programs have provided opportunities to more than 4,500 students, allowing them to be engaged in curricular and extra-curricular activities.

To learn more about the Starting Point Conference visit www.startingpointconference.com.

Conflict resolution team heads to Northern Ireland

Saint Mary's President Dr. Robert Summerby-Murray (front-left), SMUSA President Ossama Nasrallah (second-centre),with the Saint Mary's University Conflict Resolution Society, and their Senior Program Coordinators

A record-setting team of 28 Saint Mary’s University students representing a cross-section of undergraduate and graduate students within the faculties of Arts, Science and Commerce are departing today for Northern Ireland to facilitate peace education workshops.

These students will begin working with elementary school children throughout Belfast, Northern Ireland, once they arrive.

This long-standing and unique experiential program is a remarkable collaborative effort, coordinated through Saint Mary’s University, Peaceful Schools International and the student-led Conflict Resolution Society.

Learn more about Saint Mary's role in conflict resolution in Northern Ireland: A conversation with Bridget Brownlow, President of Peaceful Schools International.

BComm Grad Sayem Taking Flight in Bangladesh

See the original story at http://www.smu.ca/academics/sobey/blogs/blogentries/flightexpert.html

Building the Entrepreneurial Ecosystem... on Facebook

See the original story at http://www.smu.ca/academics/sobey/blogs/blogentries/ns-startup-community.html

Saint Mary’s takes a close second in New England venture capital competition

Premier Stephen McNeil acknowledges Saint Mary's team during 2018 State of the Province Address: "You demonstrated to us what's possible."

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A team of Sobey School of Business graduate and undergraduate students took second place in the Venture Capital Investment Competition (New England region), held in Boston.

On February 2, the Saint Mary’s students joined teams from MIT, Babson, Yale, Rochester and Dartmouth in evaluating three entrepreneur’s pitches, and completing a term sheet describing which they would invest in, and why.

Finalists Saint Mary’s and Rochester then negotiated with their entrepreneur. Industry professionals judged the competition based on the quality of analysis and insight and the calibre of the final deal. The final judging was 6/6, meaning Saint Mary’s had tied with Rochester. To determine a winner, the judges referred back to initial discussions with the entrepreneurs, which gave Rochester the edge.

The students who competed were chosen from Saint Mary’s venture capital program and the multi-university Venture Grade student venture capital fund.  Competing were Findlay Hilchie and Anu Gupta, from the Master of Technology Entrepreneurship and Innovation program; Stephanie Fitzner, BComm; and David Hatcher and Avi Chandrapati of the MBA program.  Stu Clow (MBA) was the shadow.

In March, Sobey School will host the Canadian VCIC at Saint Mary’s University.

Recognition is accorded to team coach Ellen Farrell and local business leaders who helped the students prepare: Rob Barbara, Build Ventures; Andrew Ray, Innovacorp; and Chris Legg, Progress Partners of Boston and CENE member.

Celebrating business excellence among alumni at the Halifax Business Awards

Dave O’Connor, winner of the Gold Award for Business Leader of the Year

Saint Mary’s University is celebrating the success of the Saint Mary’s alumni and business leaders who were a part of the 2018 Halifax Business Awards.

Joe Metlege (left) receives the Silver Award for Business Leader of the Year

The sold-out award ceremony from the Halifax Chamber of Commerce took place in the brand new Halifax Convention Centre. It was a spectacular night of entertainment, prestige, and celebration, recognizing risk takers and the success of Halifax’s thriving business community.

It was a particularly spectacular night for Saint Mary’s University alumni. Saint Mary’s University is pleased to congratulate Christopher Webb, BA’97, and Dave O’Connor, BComm’92, who both took home top prizes. Mr. Webb is the Co-owner of PAVIA Gallery – Espresso Bar & Café. PAVIA won the 2018 Gold Award for Business of the Year. Mr. O’Connor is the President of GLOW The Event Store and was the recipient of the Gold Award for Business Leader of the Year.

The University is also celebrating:

• Joseph (Joe) Metlege, EMBA'12, President, JONO Developments Limited & Templeton Properties Ltd., who was the recipient of the Silver Award for Business Leader of the Year;
• Leah Skerry, BComm'09, CEO, Squiggle Park, who won the Silver Award for Innovative Business of the Year; and
• Jean Paul (JP) Furey, Bcomm'03, CEO, BlueLight Analytics, who won the Silver Award for Export Business of the Year and the Bronze Award for Innovative Business of the Year.

Jean Paul Furey (left) receives the Silver Award for Export Business of the Year

Also worthy of praise are the contributions of the Santamarians whose business acumen was recognized by being nominated.

Congratulations to:

• Ross Argante, BA’01, a Partner with Integrated Staffing Limited, who was nominated for Business Leader of the Year;
• Chris Robertson, Bcomm'02, Owner, Home Instead Senior Care Cape Breton, nominated for Business of the Year;
• Steve Davies, EMBA'98, President, Third Wave Consulting Inc., nominated for Innovative Business of the Year;
• Jeff Farwell; BComm'00, Owner, J Farwell Sailing, nominated for New Business of the Year; and
• the great group of Santamarians at B4Checkin, nominated for Export Business of the Year, that includes:
• Martin Mackinnon, MBA'88, CFO and Co-Founder
• Steve Miles, Bcomm'84, Vice President – Operations; and
• Greg Thompson, EMBA'04, VP - Customer Relations

Two students recognized with inaugural Fred and Nali George Scholarships

Fred George, Mariah Williams, Nali George, Susan Summerby-Murray, Jake Arsenault, Dr. Robert Summerby-Murray

Students at Saint Mary’s University are already benefiting from a generous gift from Dr. Fred and Mrs. Nali George. Fred George received an Honorary Doctorate of Commerce from Saint Mary’s in 2011 and is the recipient of a Saint Mary’s Distinguished Community Service Award. He and his wife, Nali, are dedicated philanthropists who share the University’s commitment to global awareness and social responsibility.

Jake Arsenault

“I am very grateful to be the inaugural recipient of the Fred and Nali George Scholarship in Entrepreneurship,” said fourth year Bachelor of Commerce student, Jake Arsenault. “It’s a great honour to be acknowledged by such an accomplished and generous family. This award will certainly alleviate some of the financial stress I experience as a full-time student with my own business.” 

A 5th generation woodworker who was born and raised in Mahone Bay, Nova Scotia, Arsenault launched a business while taking a Sobey School of Business course called Structuring the Startup. His company, Creative Urban Timber, is focused on repurposing Nova Scotian trees into beautiful tables and other unique creations.

Mariah Williams

As the inaugural recipient of the Fred and Nali George Scholarship in Geology/Business Studies, fourth year Geology major Mariah Williams is also the beneficiary of the George family’s generosity. “I am extremely grateful for the George family’s philanthropy and support and very honoured to see my hard work rewarded in this way,” said Williams. “In addition to helping me balance a heavy academic workload with part time employment as a research assistant, this award will afford me the time to engage in co-curricular activities and maintain a healthy, active lifestyle.”

In addition to maintaining top marks in her Bachelor of Science program, Williams serves as Vice-President of the Saint Mary’s University D. Hope Simpson Geology Society. Last summer she worked as a Geo technician in the Yukon on the exploration site at Triumph Gold: an experience she hopes to use as the basis for her Honours project in deposit exploration.

“I am delighted to see these new endowed scholarships having an impact on such promising young people,” said Saint Mary’s University President Dr. Robert Summerby-Murray. “Fred and Nali George are valued members of the Saint Mary’s community. Thanks to their generosity, our students will go on to do remarkable things.”

The Fred and Nali George Scholarship in Entrepreneurship is awarded annually to a full-time undergraduate student in the Sobey School of Business who has declared a major in either Entrepreneurship or Global Business Management. The Fred and Nali George Scholarship in Geology/Business Studies is awarded annually to a full-time undergraduate student who is enrolled at Saint Mary's University in a major or honours program in Geology, with preference given to students in the BSc combined Geology and Business Program.