Microfabrication tools allow inventors to design and test precision medical devices at rapid speeds
In the world of precision medicine, really, really small is a really big deal. That’s certainly the case for western Canadian entrepreneurs who have big ideas for tiny medical devices, thanks to a new investment from Western Economic Diversification Canada (WD) in a University of Alberta facility. Medical device developers now have access to $1.5 million in…
When you aren’t listening you’re missing an awful lot
Last week, my friend was lamenting that she was away for her 16-year-old son’s first day of school and wouldn’t be there to pick him up. Obviously, her son doesn’t need his mom there. But driving him home lets her listen to him vent. It gives her insight into what he’s thinking, how he’s doing…
You have just 7 seconds to make a good first impression
You're at a business conference and you turn to the stranger standing next to you. He turns to face you and, in that instant, your brain makes a thousand computations. Is he someone to approach or to avoid? Should you flee or be friendly? Will he harm you or help you? In about seven seconds…
The lessons you can learn from competition are significant
My Olympic fascination started in 1976 when the summer games took place in Montreal. As a 12-year-old, I was glued to our black and white 12-inch TV for the duration of the Olympics between chores on our family’s hobby farm. I imagined myself on the track pole vaulting 20 feet in the air, swimming on…
We have a major opportunity to reframe the roles and responsibilities of corporate stewardship
In 1970, Novel laureate Milton Friedman proposed that an enterprise’s sole responsibility was to shareholders by maximizing profits: “the social mission of business is making profits, period, with other social goals best left to politics.” Corporate duty to maximize shareholder value, or shareholder primacy, has emerged as the dominant principle for free-market capitalism. This capitalist…
Reaching out to wayward customers will reinvigorate your sales and allow you to do a lot of market research
Grant was on the ground yelling as I came around the corner at high speed on my mountain bike at dusk. He had flown off his bike instead of hitting a moose standing on the trail. I skidded to avoid him. I could still see two moose, a cow and her year-old calf, on the…
Nokomis Craft Ales is putting Nokomis, Sask. on the map – defying conventional thinking that only the big city yields success
Troy Media publisher Doug Firby and Travel editor Lisa Monforton are part of a group of Canadians who call themselves ConnecTour. Starting in May in British Columbia and ending in October in Newfoundland, they hope to make an 8,000-km bicycle journey across the country, discovering how the COVID-19 pandemic has reshaped our lives and our…
A $600 million gap exists between what the province currently spends and what it can afford to spend without increasing its debt load
Based on the mood in government offices in Fredericton, you would think everything is rolling along smoothly with the top down. Yet, the province’s finances are headed straight for a brick wall. According to the independent Parliamentary Budget Officer’s latest report, there’s a $600 million gap between what New Brunswick currently spends and what it…
By Bradley Doucet and Miguel Ouellette Montreal Economic Institute Allow us to join in the chorus of praise for the charitable giving of MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, who announced last month that she had given away another $2,739,000,000 to 286 organizations. Private philanthropy is part of what makes the world…
Canadian politicians like Chrystia Freeland see tax competition as a “race to the bottom.” But for the rest of us, a global tax cartel will mean an inevitable march toward higher tax bills and more pork for companies with access to politicians. Freeland agreed to the American-led proposal for a global minimum business tax of…
Implement a plan, hold your sales team accountable, and keep updating and changing your sales campaigns
Debra was flustered. She had taken over a business with the intent of growing it but had come to the realization that increasing sales might be easier said than done. She recognized that because of the added overhead expenses of her operations, sales would have to grow 50 per cent from current revenue to ensure…
Eden Redman co-founded student group-turned-non-profit to support students exploring new ways for computers to interact with the brain
Everything from brain-controlled prosthetics to games that are responsive to brain activity are within our grasp, according to University of Alberta student Eden Redman. Redman’s work promoting and expanding access to brainwave-sensing technology has earned him the Student Entrepreneur of the Year award at Startup Edmonton’s YEG Startup Community Awards. Announced at an online ceremony in May,…
The results will lead to an outstanding future for your business
Help is a word that’s foreign to many entrepreneurs, so when a caller says they need help, I listen intently. I received such a call in November 2019 from an entrepreneur who had bought into a company and realized that the management team was struggling. “Dave, I need an outside perspective on how to move…
Innovation attracting the interest of food companies looking to make their products healthier
Demand for beta glucan fibre has been rising steadily in recent years, as mounting evidence suggests the dietary fibre can help lower cholesterol, reducing the risk of heart disease and control blood sugar levels in people with diabetes. Best of all, it creates none of the side-effects of drugs and is fully recognized by the…
When someone asks what you do, they might really be asking: Who are you?
Norm was a faller. For three years, Norm fell big trees in the wilds of British Columbia. He was so good at his job that he could drop a tree exactly where he wanted and taught others to do the same. Norm could have let his job define who he was and lived the hard-working,…
Calls by self-identified progressives and others who purport to champion equity, compelling everyone to pay their fair share, have grown louder and more strident. It seems these social justice warriors have discovered previously unknown inner fiscal conservatism, with their usual zeal for redistribution and punishment for those who they deem have excessive wealth. It’s wealth…
Essentially, we lose the amazing power of human-to-human connection
Regardless of how the future plays out in your organization, one thing is certain: virtual meetings are here to stay. It’s easy to see why. They are cost-effective, as there is no need to pay employees to travel and incur related expenses and, when successful, they enable talented peers to work together regardless of location…
Find someone you can trust to communicate what you’re going through
On a recent Sunday afternoon, I went over the handlebars of my bike, bent my front wheel and landed on my head. My son Caleb wasn’t surprised – in fact, I’ve noticed he worries about me when we go riding. And I admit I’ve had my share of accidents on my mountain bike. The thing…
A Strava-like mentality can take your business to a whole new level
My cycling buddies have been using the phone app Strava for years to track their rides. While this isn’t novel, the appeal of Strava is that, like Facebook, you can see what your friends are doing and comment on their activity. Unlike Facebook, there’s honesty in postings because your whole activity is measured, not just…
Available workers are rarer than openings now. Smart business people will start making adjustments so we can all enjoy some prosperity
At last we’re beginning to see beyond the pandemic to a return to more normal times. Businesses are reopening. Corporations have capital to invest and are starting to do so. Thanks to government support during the pandemic, many people have savings to spend. The combination of a liberation from lockdown and all these available funds…
By Pat Price Reporter Troy Media/TNW Avanti Energy Inc. (TSXV:AVN) (OTC:ARGYF) has assembled an expert team of former oil and gas employees, including eight people from the former Encana Corp. Several of those employees were part of the team during the early stages of the discovery of the Montney Formation, one of the premier natural…
Alberta-based 48Hour Discovery works with some of the world’s largest pharmaceutical companies to streamline the process
With the cost of drug development beginning to skyrocket in the 1990s, pharmaceutical giants thought the path to better economics lay in high-throughput screening facilities that would test libraries that ranged in size from a few thousand up to million compounds at a time. “Separate shelves, many rooms, with the emphasis on robotics and automation…
Canada must emulate countries such as Liechtenstein and Malta, which adapted legislation in advance to attract crypto entrepreneurs
The Canadian cryptocurrency industry knew mainstream adoption would inevitably come with a regulatory load, especially after the 2019 collapse of the largest exchange at the time, QuadrigaCX. Participants, however, didn’t expect regulators to come with one of the most heavy-handed approaches possible. On March 29, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory…
The masks needed to be reusable and seal around the nose so the user’s glasses don’t fog up
James McCrimmon is the inventor of an accessory to keep your beer cool. His Alberta-based business relies on major events like Canadian Football League games and rodeo for sales. When the COVID-19 pandemic hit, McCrimmon found his proverbial keg empty. But instead of crying into his frosty mug, he decided to reimagine his product into…
FDA approves MEDO’s tool offering simpler, more reliable diagnostic scans for thousands of patients
A University of Alberta spinoff company has received FDA approval for an artificial intelligence tool that could revolutionize thyroid ultrasounds, making the procedure faster and easier for thousands of Canadians who undergo it each year. MEDO.ai, with offices in Edmonton and Singapore, received approval last month from the U.S. Food and Drug Administration for its…
As the federal government’s debt soars by $424 million per day, Canadians need to be on guard for the Trojan horse of politics: higher taxes on the wealthy and businesses. These taxes won’t balance the budget. But they will make it easier for politicians to get their tax hikes through the city gates. And once…
People reach out to me weekly for advice on whether they should diversify their business and sell an additional product or service. There also seems to be a flurry of entrepreneurial types who see opportunity as a result of the current changes in the economy. They believe they have the next great business idea that…
Lockdowns, inventory disruptions, staffing issues and cash-flow challenges have sapped many entrepreneurs of their passion
The economic climate has changed the way business owners think about their businesses. While my firm worked with companies before the pandemic, helping them to prepare their businesses for transition, there seems to be a flurry of interest from owners ready to exit their businesses. There are several reasons why people are thinking of selling…
We have an employee who is always convinced he’s right. It’s so fundamental to his personality that he refuses to take direction
Faith Wood knows how to resolve conflict. Her years in front-line law enforcement taught her how to effectively de-escalate any situation to a successful conclusion. Faith will use her knowledge of conflict management to guide you through the often stressful experiences you may encounter in your personal or professional life. Her Conflict Coach column appears…
U of A business professor teams up with Edmonton school in project to teach students how to turn ideas into successful ventures
One path to a diversified economy is exposing people to entrepreneurship, according to a University of Alberta professor who is partnering with a local high school to pilot an entrepreneurship program. “If you want to diversify the economy, starting in college with this kind of education is too late,” said Michael Lounsbury, professor and Canada Research…
In the world of precision medicine, really, really small is a really big deal. That’s certainly the case for western Canadian entrepreneurs who have big ideas for tiny medical devices, thanks to a new investment from Western Economic Diversification Canada (WD) in a University of Alberta facility. Medical device developers now have access to $1.5 million in…
