First ScaleUP Week a wrap
As part of the inaugural ScaleUP Week 2024, Mount Royal University is excited to announce the winners of the first ScaleUP Awards in celebration of outstanding achievements in scaling companies across Western Canada. The awards highlight exceptional companies and entrepreneurs who have demonstrated significant growth and innovation in their fields.
As this year’s founding host and director of Growth Compass, which is operated by MRU’s Institute for Innovation and Entrepreneurship, Dr. Simon Raby, PhD, says, “ScaleUP Week is dedicated to propelling entrepreneurs and leaders towards unparalleled growth and scale. It’s an opportunity to showcase the latest scaling evidence and best practices while celebrating the journey of scaleups across Western Canada.”
2024 ScaleUPAward Winners
Awards presented on June 20 included:
- ScaleUPCompany of the Year: ZayZoon
- ScaleUP Entrepreneur of the Year: Wilson Acton, Tall Grass Ventures
- People’s Choice Award: Osten Victor Alberta Tennis Centre
- International ScaleUPof the Year: CoolIT Systems
- Social Impact ScaleUPof the Year: CarePros
- Sustainable ScaleUPof the Year: Zeno Renewables
- ScaleUP Ecosystem Leadership Award: Goodlawyer
- ScaleUP Sector Award: Kathairos Solutions
View videos of the winners accepting their awards.
Robin Lokhorst, managing partner at McLeod Law and peak partner for ScaleUP Week said, “Sponsoring ScaleUP Week 2024 aligns perfectly with our mission to support scale-ups by connecting them with the right resources at the right time. The awards gala was the perfect way to cap off the week, featuring deserving winners and inspirational speeches, seamlessly woven into a flawlessly organized program.”
About the ScaleUP Awards
Held on June 20 in the Champion’s Ballroom at the new BMO Centre, the ScaleUP Awards, powered by Growth Compass, are a key feature of ScaleUP Week.
Growth Compass provides evidence-based insights and intelligence on company growth and scaling.
The awards recognize the journey and success of small to medium-sized enterprises (SMEs) navigating the challenges of scaling up. With a focus on growth, innovation and sustainability, the ScaleUP Awards bring together top entrepreneurs, industry leaders and policymakers to celebrate and support the achievements of SMEs in Western Canada.
Dr. Kelly Williams-Whitt, PhD, dean for the Bissett School of Business, said, “I thought the event was outstanding. It exemplifies community engagement, scholarship and how to make a real impact on the community. Congratulations to all those involved.”
It was a night of inspiration and networking bringing together 250 of the brightest minds in the entrepreneurial ecosystem.
Inaugural ScaleUP Week exceeds all expectations
From June 17 to 19 MRU’s Institute for Innovation and Entrepreneurship’s Growth Compass hosted 24 dynamic one-hour events, welcomed 65 expert speakers and engaged over 800 registrants.
Clark Lai, CEO of Motiv Digital, this year’s creativity and technology partner and peak partner for ScaleUP Week, said, “We are immensely grateful for the opportunity to collaborate with the ScaleUP Week team on their inaugural event. It was a privilege to connect with such a vibrant community and to capture the spirit of innovation.
The energy and engagement from everyone involved was truly inspiring.”
Canada faces a significant scaleup gap. While half of all startups endure beyond eight years, only a mere 0.1% of small firms advance to the status of mid-sized enterprises, and just 2% of mid-sized firms grow into large corporations. Despite Canada having the highest total early-stage entrepreneurial activity among advanced economies globally, the number of firms successfully navigating the “second valley of death” to achieve sustained growth and scale remains low.
Growth in business is not a continuous or sustainable phenomenon, but is punctuated by episodes. The majority of companies are “one-hit wonders,” with only 10% to 15% managing to achieve a second significant growth episode. This situation is concerning, particularly as 99.8% of Canadian companies are SMEs. These SMEs make a significant contribution to the economy, accounting for over half of Canada's GDP and generating more than two-thirds of all new jobs over the past two decades. Therefore, it is crucial to delve deeper into the factors that enable startups to survive, scale up and grow.
ScaleUP Week included four transformational days: Evidence Day, Ecosystem Day, Practice Day and the Gala and Awards. The generous support of 24 partners made ScaleUP Week possible with the Institute for Innovation and Entrepreneurship, McLeod Law LLP and Motiv Digital acting as peak partners.
MRU’s Institute for Innovation and Entrepreneurship’s mission is to deliver transformative learning experiences that develop the high-impact talent essential to the continued economic prosperity of Alberta. The Institute established Growth Compass as a Centre of Excellence to deliver evidence-based insights and intelligence on business growth and scaling. It has also launched Growth Catalyst and the Innovation Accelerator to support leaders and teams of SMEs.