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Oct 8 2013 Paul Vallée.docx

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University of Ottawa
Matthew Archibald

ADM 1300 Paul Vallée YUJIE YI #7038840 Paul Vallée Self-Introduction - Graduated from Ottawa U BCom program from 1989 to 1993 - Before entering Ottawa U, Paul’s interested in the transformational power of computer, especially in the applications of computers of business. - Paul enrolled in MIS (Management Information Systems) program in Ottawa U because he thinks the MIS is the closest match for his interests. Paul’s really interest in computers, and how computer technologies can transform into business. - In 1989, computers were still not the main screen adoption across business in Canada. - Sun microsystems – units computers - When Paul was in the university, instead of going forA+ average, he would spend half of his hour in the academic career Ottawa U and academic probation fighting to stay in the program, but also take advantages of the fact that he was surrounded by founders and take the advantages of that he was surrounded by awesome teachers with general office hours, and start a company for fun. Because he thought start a company for fun will be a great way to learn a lot of bachelors of commerce. - Paul did start a few companies before finished university, and they are relatively linked by today’s standard. - Paul’s second company didn’t work because he couldn’t fine the company insurance. Skills - Business strangers’card - Incorporated business internship experience Starting a business, you need: 1 - Confidence - Ideas - Time Challenge of starting a business is not very high, so take the advantages After graduating (when Paul was 23) Part-time Job: To create a new auto whole magnetizing medium - Partner of OC Transpo - Try to see if we can make OC Transpo to let us replace them for free. - Our screens will be twice as big, have room for their schedule, and have room for some advertising. - In Minneapolis: Paul was the CTO (Chief Technology Officer) at the startup. His job was to build technology that was basically making it so that they can network with hundreds of these things spread out the city, that they could automatically wirelessly using their models, download new advertising content, download news update, so that the takers would stay fresh. - Globally distributed media network – airline, subway - Source of Capital: 480 TVs - Paul managed to get OC Transport to sign the contract committing to the deal, and it was only conditional if he could get the financing ($2 million). - The reason the billboard companies didn’t invest is that they found Paul didn’t have a lot of confidence in the management.  Age really does matter. Investors would like to see the resume longer. Starting a business in the university is not necessarily, because 1. You never have as many co-founders as free consultants as right now. 2. Every teacher is free consultant, every office hour is opportunity. 3. Co-founders are all around you that are definitely not a time wasted. ADM 1300 Paul Vallée YUJIE YI #7038840 Services startup (sell services toAmerican customers) - Really easy because they don’t require us the exact capital - You probably need only $5,000 with a computer to start up a business - We didn’t have any revenue (you have to pay the debt, and you don’t have any other investors) - Paul had a partner who also graduated from BCom in Ottawa U. They found a company, and incorporated. - It took a year in total in abject property - For the second year, the company started to working. Focus on New York City:  Reason: Ottawa is 45 minutes later, in the same time zone, actually don’t have issue in the accents neutrally  New York City is a good place to have a target market, because it’s a very compact economy, it’s a giant economy, and as the services start up, the advantages we had that the customers living there was easily more than double than customers living in Ottawa. Businesses don’t start with nothing, they start with: - Intellectual properties (IP) - Capital  VC (Venture Capitalist): not very large amount, lower than $500,000. You can have the money to pay the routine of the month. You’ll probably want the venture capital to demonstrate your technology advance.  EX: Google is very capital intensive.  Angel investors: like your uncle Jorge. 3  Bootstrapping: you don’t have any of that. You don’t have any mo
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