Along with a new logo, one organization is aiming to bring the Dragon’s Den to St. Albert.
Northern Alberta Business Incubator (NABI) has launched a new program, called WayPoint, which will connect potential investors with small businesses.
Much like the popular television show, if the investors like the business pitch, they’ll decide to partner as a mentor and potentially as an investor.
“There's a real built-in interest in entrepreneurship,” said Noreen Hoskins, executive director of NABI. “This is a perfect outlet. Not only just to find people who want to start businesses, but for those who actually have a lot of sector expertise that could apply it as a mentor.”
The new program is designed to help smaller tech businesses get mentoring from a mid-level investor who’s ready to branch out with new opportunities.
If the investor chooses, they’ll be kept confidential at the pitching phase, which means NABI will act as a liaison between the two. Once the investor decides on a company they’d like to work with, a connection is made.
WayPoint was developed after Northern Ontario Angels, which is a program that connects ‘angel investors’ with small businesses. The investors are kept confidential while they’re vetted, much like NABI’s WayPoint program.
Mary Long-Irwin, executive director with Northern Ontario Angels, has been working with NABI as they’ve unrolled the program.
“I think the fit is really good,” she said, adding building mentors as investors in rural business communities is the best way to support entrepreneurship while building into the economy.
Once NABI has their first group of investors waiting to connect, Long-Irwin will make suggestions on how to go forward, she said.
“I will go there and explain how our system works, explain what it is that I do, the due diligence that I do on the company and how I vet the companies,” she explained.
While WayPoint has been rolled out in all communities across Alberta, including St. Albert, the organization will be first working with the economic development department in Beaumont to identify mentors in the community.
The program is only one part of NABI’s recent re-launch. The organization still offers all the same programs, but has emphasized one of its most important aspects: community.
“We determined the most important pillar is community,” Hoskins explained. “And when we focused on that, we said, ‘We need to re-launch, we need to make that clear.’ ”
Last week, the incubating organization unveiled its new website, along with a new logo. Hoskins said NABI wanted to re-vamp its look in conjunction with its 30th anniversary.
For more information on NABI and WayPoint, visit: http://nabi.ca/.
