Field Notes from Startupfest 2023: Insights and Inspiration from Montreal
For the second year in a row, I had the privilege of attending Startupfest in Montreal, one of the most community-focused tech events I've experienced. Last year, I spoke about the various models and ways venture studios deliver value plus reconnected with some fantastic folks. This year, I was thrilled to return as a mentor.
What's notable about Montreal's environment, especially after recently writing about the Brooklyn tech ecosystem, is how distinct it feels. A Canadian investor asserted that while U.S. founders often tell grander, more compelling stories, Canadian founders tend to feel they need to be more grounded in actual accomplishments. I thought that was an interesting insight and kept my ears open. At every event, I was struck by the depth of experience of all the speakers and mentors; but I also noted that so many of the founders were off and running, operating young but growing businesses. There were almost no entrepreneurs there slinging good pitches based on vaporware and jargon. That investor was onto something. FWIW Startupfest’s organizers have been deeply embedded in tech for years, and it shows in the community they’ve built. Programming reflected an incredible interplay of technology and societal trends over decades, with conversations led and facilitated by luminaries.
Several big ideas kept surfacing during the event, and I wanted to capture three that particularly stood out to me:
1. Truth in AI
There was a fantastic panel about Truth in AI. The discussions really got me thinking about the implications of hyper-enabled humans with bionic powers (aka the Bionic Consumer to gather, synthesize, and apply vast amounts of information to decisioning. The critical question becomes: Is the information I'm using true, and where did it come from?
Maybe best poised to tackle this question are folks like Shingai Manjengwa and her team who are reimagining applications of Blockchain to solve this problem. We need smart mechanisms for consensus to govern – not just monetary provenance—but ALL IP. Its promise is to help us with a simple question: Do I believe the information or transaction I’m observing is real? Do I understand its origin? As AI agents operate on our information, trust in AI itself and its conclusions becomes paramount. As more of us turn to AI for perspective and interpretation and then turn around to pass them along…how will the next person trust us? Our judgment in AI selection? Our sources? This need for trust and transparency will only grow as AI continues to evolve.
2. Evil Enough
Startupfest organizer and OG startup vet Alistair Croll and rockstar brand strategist & marketer Emily Ross, co-authored a book called "Just Evil Enough," which rethinks marketing for the attention economy. They explore how certain individuals find loopholes and hack systems, like Farmville's meteoric rise to 72 million users or Kraft Mac & Cheese selling a million boxes a day. The book analyzes and deconstructs various playbooks that can help us rethink marketing strategies to discover advantages and ultimately hack the system.
For me, the fascinating part was discussing with them where the lines were? How far is too far? And maybe most importantly to me, how might we subvert these tactics for positive impact. Often, I talk about “hacking” companies to help those companies do good while making money, in spite of themselves.
I wonder if there's something around “good enough to be great”...collabo for next book y’all?
3. Champions, Not Charity
I had the great fortune of sitting next to Deborah Price, a member of the Board of the National Indigenous Fisheries Institute (NIFI). The Institute aims to promote national consistency and standards across Indigenous programs and practices related to fisheries, aquaculture, oceans, and aquatic management. The Board of NIFI includes various regional and national Indigenous executives who collaborate with communities, regional organizations, and governments to enhance the potential and benefits of these programs for Indigenous peoples across Canada. She had just spoken about sustainable business and connecting First Nations people to the broader more sustainable economy. Her unambiguous statement to me when I asked her what she saw as the biggest opportunity for impact: “I came to do business and make deals”
Not charity. Not handouts.
I missed her on stage but our convo was a masterclass. Deborah's focus on sustainable participation—empowering communities that have been commercially and economically marginalized—was poignant. She spoke about giving communities not just a seat at the table but the means to build their own tables, define production methods, and engage in deal-making, monetization and their own community reinvestment. This resonated deeply and aligns with my belief that doing good and good business need to become indistinguishable. Targeting new markets aimed at serving traditionally commercially marginalized populations is a sizable business opportunity.
In Summary
Startupfest in Montreal was an amazing experience once again, filled with incredible community, a vibrant ecosystem, and fresh, diverse perspectives. I'm grateful for the opportunity to participate and hope to continue to build bridges and portals between NYC and Montreal.
Big shout outs to Rebecca, Alistair, Suchi and the whole StartupFest crew! I’m already looking forward to next year.
