The innovative program helps emerging companies achieve global success through workshops with international business experts and access to a national peer group of entrepreneurs
Flosonics Medical, a Canadian medical device company headquartered in Northern Ontario, is pleased to announce that it was selected to participate in the third cohort of the Lazaridis Scale-Up Program.
Facilitated by the Lazaridis Institute for the Management of Technology Enterprises based out of Wilfrid Laurier University’s Lazaridis School of Business and Economics in Waterloo, the innovative program helps emerging companies achieve global success.
As part of the program, businesses receive one-on-one mentorship with international business experts, 120 hours with dedicated growth specialists, and access to a national peer group of entrepreneurs.
The Lazaridis Institute selected Flosonics Medical alongside nine other Canadian companies that have demonstrated the potential to dominate their markets and are ready to take the next steps to grow globally.
“Flosonics Medical is honoured to be included in this year’s Lazaridis Scale-Up Canada cohort. Their mentorship in scaling Canadian tech companies is invaluable, and we’re grateful to the Lazaridis Foundation for supporting this excellent program,” said Joe Eibl, co-founder and CEO of Flosonics Medical.
The companies in the third cohort of the Lazaridis Scale-Up Program include Altus Assessments, Applied Brain Research, Blue J Legal, Jane App, Needls, Sofdesk, TinyEYE, VanHack, and Vive Crop Protection.
Each of the 10 companies took part in a competitive selection process beginning with an online application powered by open database company Hockeystick.
A panel of North American venture capitalists and industry experts then gathered for video interviews to select the 10 companies who showed the most promise for rapid growth.
The Lazaridis Scale-Up Program is tailored each year to the specific challenges faced by companies in the cohort as they scale their businesses. Over the course of six months, the cohort will travel to six different cities across North America for intensive weekend workshops with experienced executives.
Past workshop topics have included leadership for growth, next-level product development, scaling customer acquisition, finance and operations, and expanding in global markets.
The companies will also meet and begin to work with the sector and functional-area specialists, sourced from across North America, who will be supporting them for the next year.
“At the Institute, we are honoured to have met so many exciting companies,” said Kim Morouney, managing director of the Lazaridis Institute and Lazaridis professor of Executive Development in the Lazaridis School of Business & Economics at Laurier.
“Canadian tech and Canadian talent are drawing international attention. We’re here to help ensure that our entrepreneurs find the resources they need to scale globally—while creating jobs and creating value right here at home.”
Since its commencement in 2016, the Lazaridis Scale-Up Program has worked with 20 companies from Victoria, BC to Halifax, NS.
Surveys have demonstrated that, after only one year, 100 per cent of the companies in the first cohort had increased revenues and 90 per cent had launched a new product or service, increased exports, and received external funding.
The Lazaridis Scale-Up Program will begin on October 25, 2018, in Toronto. Participants will travel to Toronto, Vancouver, New York and Palo Alto, among other cities, for this year’s weekend modules.