“I’m incredibly passionate about helping Canadian companies be successful,” she told DX Journal in an interview. “Their success equals success in Canada. Ultimately, what I want to see is Canada on the global innovation stage as a major player.”
For Fedeyko, a native of Northern Alberta, that means creating a bridge between Canadian business and the vibrant culture and approach of Silicon Valley. Through her work with Connection Silicon Valley, she helps Canadian startups, scaleups and corporate clients connect with all the exciting opportunities happening in one of the world’s greatest innovation hubs.
Connecting to the Valley
All of Connection Silicon Valley’s work is to encourage Canadian entrepreneurs and investors to branch out in their thinking a little more and gain a global perspective on their innovative projects and practices.
“I connect startups and corporates into Silicon Valley’s rich tech and innovation ecosystem to help them build and scale their business,” Fedeyko said. “The core of the work that I do is very custom and curated.”
Fedeyko dissects what companies might need, problems they might solve, or who they might need to connect with. “It’s all about custom connections.”
For startups, the biggest thing is funding and investors — but networking with other CEOs and founders can be a huge benefit. Speaking to the right Silicon Valley veteran can help founders determine things like pricing for their product, or even how to avoid a few pitfalls other CEOs have encountered in their previous experiences.
For corporate clients, Fedeyko organizes trips where Canadian companies speak with investors, startups and thought leaders. Through these two-day trips, Canadian companies can learn best where businesses are investing their resources, and get a sense of how to future proof their brand in light of developing technologies.
“When people come down to the Valley, light bulbs go off every single time,” she said. “It’s eye-opening to see the ecosystem, the pace, the energy, the urgency, the plethora of technologies, and the collaborative nature. People have to see it, not just read about it, in order to grab some of the DNA that exists in the Valley.”
HQ2 helps put Canada on the map
Attitudes and perceptions of innovation in the Great White North are changing, both within and outside Canada.
According to @KPMG‘s Global Innovation Report, #Toronto is ranked among the fastest-growing #tech innovation hubs, outpacing Silicon Valley & San Francisco: https://t.co/uXdXERJslG pic.twitter.com/l0Pq0G3WxA
— NEXT Canada (@Next_Canada) April 2, 2018
With Toronto making the shortlist for Amazon’s HQ2, there is a realization that the world is increasingly looking closer at Canada’s immigration policy, its stellar post-secondary institutions and its AI expertise.
Fedeyko says there’s been a subtle shift in how Canadian businesses approach Silicon Valley innovation, but that Amazon’s interest in Canada has been the biggest moment of realization she’s seen so far.
— Invest in Canada (@invest_canada) April 1, 2018
“I think Amazon is one of the best things that could have happened to make Canada wake up.”
The attention and competitive potential of Amazon has shifted the territory for Canadian businesses on the world stage. As the world’s attention turns towards Canadian entrepreneurs and founders, Canadian companies are looking to connect with the excitement of innovation hubs like Silicon Valley, and American founders are looking to get better acquainted with the vibrant world of Canadian tech businesses. That’s where Connection Silicon Valley comes in.
Not a lot of people are doing this kind of work specifically for Canadian companies. For Fedeyko, it’s a question of passion. “I’m really doing it because I love my country and I want everyone to have the same sort of opportunities to connect with Silicon Valley like I do every day.”
Connect with Connection Silicon Valley in Toronto
Part of the Valley experience that Connection Silicon Valley is bringing to Canadians comes in the form of innovation immersion sessions. On April 24, Connection Silicon Valley is hosting a dinner for director-level business leaders to share an open dialogue about how disruption is changing the shape of business, and what’s holding companies back from embracing transformative change. Get your ticket here.
New program for female angel investors launched
A new accelerator program for women corporate and technology executives aims to boost the number of women performing deal-making venture capital gains.
The new development comes from Highline BETA, a startup co-creation and a new venture development company operating in the U.S. and Canada. Highline BETA has relaunched the Female Funders Angel Academy, an accelerator program aimed at female corporate and technology executives as they pursue angel investing.
Forging a new path for female investors
In Canada, for example, just six percent of deal-making venture capitalists and 20 percent of angel investors are female. To help address this, Female Funders is collaborating with the National Angel Capital Organization (NACO) to put together a new standard of education in angel investing.
The Female Funders program was acquired by Highlined BETA in 2017. The re-launched scheme will focus on three key pillars, each of which is intended to speed up pathways to enable first investment for women angel investors.
These pillars are:
- blended education
- investment opportunities supported by local experts and peer guidance
- a curated network of women executives, investors and innovators
Commenting on the revamped scheme, Executive Director of Female Funders and the chief operating officer of Highline BETA Lauren Robinson said: “There are a handful of incredibly talented women investors today —but we need more…We talk a lot about the growth of female entrepreneurship, and we see the tides starting to shift.”
Creating culture change
However, a culture change is required to make this happen. Robinson adds: “Without representation on both sides of the table — among both entrepreneurs and investors — we won’t see real change.”
The Academy is central to the structural and cultural changes needed to help bring more female investors forwards. With this venture, those who sign up to the Academy will begin an eight-week self-paced training program. The curriculum extends to the fundamentals of angel investing, like deconstructing the mechanics of a successful deal.
After the program is completed, Angel Academy members will have the opportunity to write their first investment cheque for startups and to co-invest alongside Highline BETA.
Three big examples of DX culture shift
Digital transformation is not just about technology and big ideas. For digital transformation to be undertaken smoothly, a cultural change, involving all employees, need to take place.
Most headline messages about digital transformation discuss the necessity of switching from legacy systems; avoiding siloed data; and focusing on developing the digital understanding of C-suite executives. What is often missing from the discussion is the need to develop a new culture. This is a culture of innovation, understanding and shared values in order to innovate product and service development.
Analysis by MIT Sloan and Deloitte into business-focused digital successes and failures concluded:
“The history of technological advance in business is littered with examples of companies focusing on technologies without investing in organizational capabilities that ensure their impact. In many companies, (failures are) classic examples of expectations falling short because organizations didn’t change mindsets and processes or build cultures that fostered change.”
The survey also found, as Sloan Review summarizes, that the ability to digitally reimagine the business is a key factor of clear digital strategy. Such organizational vision, supported by leaders, fosters an innovative, change-friendly culture. For this to happen, the workforce needs to willingly and determinedly take on the digital transformation path.
Taking employees on the journey
This means every employee in the company should understand and support collaborative practices, innovation, open culture and adopting a digital-first mindset; plus, having the agility and flexibility, customer centricity to deliver change. Once this is in place a data-driven culture will start to form and new technologies can be steadily adopted.
This means companies need to implement systemic changes in how they organize and develop workforces. Organizations also need to seriously consider how they drive workplace innovation, and work collectively to cultivate digitally-minded cultures and experiences.
As to how this might work in practice, one example is Coca Cola. The company acknowledges that culture change is one of the most difficult aspects of digital transformation to realize.
The soft drinks firm’s digital strategy officer, David Godsman notes that changing culture across the marketing team is the hardest thing Coca-Cola has to tackle as it undergoes the necessary transformation to bring the enterprise into the digital age.
Coca Cola is also attempting to alter its customer focus, acknowledging the need to create personalized experiences for consumers and customers, to fit in with consumers seeking multi-channel experiences and fast mobile access, especially when receiving promotions.
Latitude financial services
A second example of digital transformation with a customer focus is with Latitude financial services. According to Caroline Ruddick, who is the company’s general manager of marketing, there needs to be a twin strategy of developing and improving the customer experience. This shift in strategy, says Ruddick, must be bound to the process of ensuring that employees are responsive to the changes taking place within the organization so they can successful and emphatically offer high quality outfacing services.
Tied up with this is recognition that customers are increasingly more concerned about the experience of dealing with a product or company, seeking an easier, multi-channel offering, and they are less concerned about the actual product, or at least with having any significant loyalty to one product over another.
Adobe provides a third example of a company that has recognized the value of culture change. According to Vision Critical, when Adobe made the decision to transition from physical software to a cloud-based model, the company recognized that it was necessary to shift its employees’ focus towards the the customer.
This was undertaken by developing a staff Experience-a-thon. Adobe had employees role play testing and providing feedback on Adobe portfolio of products, pretending to be customers. This led to an employee engagement strategy and a shift in culture, paving the way for Adobe’s evolution into a cloud company.
These examples demonstrate that the ‘big moment’ for an organization is when it embraces the fact that digital transformation is not a a technical problem to be fixed, but instead it is a cultural change to be enacted through the enterprise.
Lowering fleet operating costs with technology
Reducing costs is paramount to any business and this includes controlling fleet costs. There are smart technological solutions that assist with this, including mileage trackers, GPS speed trackers to monitor speed, and fuel trackers.
There are different fuel saving measures that fleet managers can utilize, each of which fits in with the smart technology paradigm. Each of solutions can be put in pace to operate independently; however vehicle equipped technologies tend to work more effectively when used in tandem.
In addition to be being fitted retrospectively, more sophisticated fleet management systems will have smart technologies in- built in order to maximize fleet efficiency and to lower fuel costs.
One example of vehicle technology is the use of a mileage tracker, which aids control of fuel consumption. This takes the form of a GPS mileage tracker, which collects data and sends it to a platform for analysis. Such analysis incudes assessing whether drivers are taking the optimal routes for jobs (and for suggesting alternate routes as necessary), and for calculating periodic operating costs.
In addition, such systems can issue alternative routes, based on shortest distance, in the event of traffic incidents. Examples include the iOS ready Mileage Expense Log and the MileIQ. These apps provide GPS-based trip logging, vehicle fuel- and expense-tracking and map-based route review.
Fuel trackers are designed to provide fleet managers with detailed fuel data. This covers fuel costs and fuel efficiency. These devices assess the fuel cost data and the amount of fuel consumed. In addition metrics about vehicle idling time and driver behavior information can also be captured.
An example of such a device is Jerrycan, which assesses fuel data against distance and time. A second example is the Corporate Telematics System. This sensor measures fuel level and calculates the amount of fuel based on float.
Speed trackers are used to assess driving behaviors of the fleet workforce. Data can be transmitted to a platform that can be accessed by fleet managers, allowing an assessment of driving performance. Speed trackers can be used with mileage trackers to identify whether drivers and taking the best routes at optimal speeds.
There are passive and active systems. A passive vehicle tracking device starts relaying journey information once the vehicle is turned on or the door is opened. GPS data, speed and heading are then recorded; whereas with an active system same information is transmitted in real time without the need for docking. Examples include Fast Fit Nationwide and My Tracker.
In related news, some fleets are using smart tires – tires with temperature and pressure sensors attached and which are capable of sending wireless signals to a fleet management platform. This is profiled in the article “Truck tires become part of the Internet of Things.”
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