How Europe's leading startups are finding a smarter way to enter the North American market.
On a snowy winter evening at dinner in Toronto, the founder of a Polish agri-food startup sat elbow to elbow with the former CEO of the Ontario Chamber of Commerce.
“Canada has an incredible opportunity to benefit from the innovation coming out of Europe right now.”
Vikram Khurana, TBDC.
At another table, a Groundbreak Ventures partner was chatting with the founder of a Latvian company that makes structural monitoring sensors that provide real-time information about critical infrastructure.
Dinner was the highlight Sprint Horizon Weeka unique initiative supporting the expansion of operations in Europe as they expand into Canada.
Offered through the Toronto Business Development Centre, Horizon Sprint week is filled with masterclasses, networking and one-on-one meetings, as well as a networking dinner where the founders intentionally sat down with investors and industry leaders from Toronto's startup ecosystem.
“We are a technology company from Latvia that is very interested in participating in the construction of public infrastructure in Ontario. Harsh conditions require remote monitoring, and Adventum has the most innovative solutions to solve this problem,” said Nikita Gorbatko, co-founder of Latvian company Adventum Tech.
After five years of developing infrastructure monitoring technology, the company was ready to scale its sales and marketing efforts, and the opportunity to join the Horizon program came at an inflection point.
“Through the TBDC program, we have clearly identified key customers, such as regulators and construction companies that build bridges, railroads, pipelines and highways,” Gorbatko said. “This is a very diverse group of clients and it will not be easy for all of them to welcome a Latvian company. But TBDC has organized meetings for us with key decision makers and so far we have been received very warmly.”
Since 1990, TBDC has acted as a bridge between Ontario's global entrepreneurs and investors, industry associations and government. Today, the organization represents more than 20 sectors, has supported more than 9,500 founders, and operates eight programs designed to create startups with the potential to scale quickly.
One such program is Horizon, which connects TBDC's extensive network with a new wave of European startups ready to go global.
“TBDC’s mission is to help companies launch, scale and grow,” said Sia Pryor, TBDC Chief Marketing Officer. “Working with European companies that are later stage and ready to launch, scale and grow means we can make the most of our network. We can leverage the resources and contracts we have built up over TBDC's 35-year history and show new market entrants what we can offer.”
This fall, TBDC welcomed Horizon's largest group yet – 23 companies from 10 European countries. This group of participants, ranging from pre-seed to Series A, has collectively raised more than $120 million.
Once you arrive on site, the program begins almost immediately, with hundreds of orientations, meetings and workshops crammed into just five intensive days. The founders make the most of every minute while continuing to run their business in different time zones.
For Bart Roszkowski, co-CEO of Polish company Proteine Resources, whose team converts mushroom byproducts into protein for pet food, the meetings alone were worth the flight.
“I was connected with six mushroom growers just by being a part of the program,” Roszkowski said. “You know, I would have to make a cold call, but in the beginning it's a lot more credible when you're introduced through a formal program like TBDC. I also met people from the pet food industry. That's really important because we connect the mushroom growers with the pet food industry by providing them with the ingredients. We have to talk to both at the same time.”
“Canada has an incredible opportunity to benefit from the innovation coming out of Europe right now,” said Vikram Khurana, Chairman of TBDC. “By bringing this scale here early, we are not only strengthening our technology ecosystem, but also deepening trade and collaboration with one of our most important economic partners. This collaboration also strengthens Canada's participation with the EU in the EU Horizon program.”
Throughout the week, the founders participated in roundtables, workshops, and feedback sessions focused on North American sales cycles, regulatory expectations, and customer behavior. Consultants and mentors worked closely with each company to stress-test positioning and refine go-to-market strategies.
Twin Science and Robotics entered Horizon already operating in several regions, but North America represented a new and larger opportunity. Co-founder and CEO Asude Altintas joined Horizon for customer access.
Having already served schools in Turkey, the Middle East, North Africa and the UK with its digital and physical STEM learning tools, Twin Science now plans to expand into the North American market and establish a presence in Canada.
“Most accelerators have the same programs. But what sets Horizon apart from others is the curated meetings with real clients. Because you can only learn from your clients,” Altyntas said.
And when the week ends, Horizon doesn't.
A three- to six-month guide is provided to help founders realize their plans to enter the North American market, helping companies not just get to market, but grow, scale, and shape what's next.
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Want a faster way to discover new technologies ready for pilots in Canada and the US? Horizon brings proven founders to Toronto and purposefully introduces them to operators, clients and partners. Contact us to find out more.
Image courtesy of Toronto Business Development Center.
