Newsroom: Gaining wisdom from experience at MentorCamp

Gaining wisdom from experience at MentorCamp

Local entrepreneurs David Lopes (Reform Technologies) and Gillian McCrae (getgifted.com) move on to the next round of MentorCamp in Halifax.

Permjot Valia came to PEI from London, England prepared to do his best Simon Cowell impersonation on budding local entrepreneurs.

But the founder of MentorCamp -- which connects promising young startups with experienced mentors – quickly realized he wasn’t going to get the chance to impersonate the sarcastic talent show judge.

“There was nobody to beat up,” Valia said.
“The mentors from across the country were very impressed with the caliber and tenacity of the entrepreneurs we met.
“They all left knowing PEI is a place to do business.”

Local entrepreneurs participate in the pitch clinic.

Mentorcamp CEO Permjot Valia listens to a pitch.

Almost a hundred people attended some part of the two-day event -- hosted by Innovation PEI and the Department of Innovation and Advanced Learning -- which offered a Pitch Clinic, hosting by Valia, an information session on Build Ventures and the Mentor Camp, where six companies were hosted by 19 mentors.

The 19 regional and national mentors offered valuable insights into their business models, investments and key players in their industries.

Gillian McCrae from getgifted.com was one of two finalists chosen to go onto the next level of MentorCamp in Halifax.

Her online company, which offers chances to “get gifted” with discounts to local merchants, has reinvented merchants marketing dollars to save time, reduce cost and increase exposure.

MentorCamp gave her a chance to ask questions and dig deeper into her unique business model.

“These were people who really understand the needs of a startup,” she said.
“It was just a very open discussion with a lot of different minds. The challenge now is to figure out what to do with all that insight.”

Mentors were particularly impressed with David Lopes, owner of Reform Technologies, the second finalist chosen to go to Halifax, Valia said.
“He wowed a lot of people.”

Lopes’ business, an online system to help architects organize building projects, is “very solid,” he said.
“We thought we were very aware of who the up and comers were – we thought we knew everything but we didn’t. Lopes is someone who is doing really well beneath the radar.” “I look forward to following his progress.”

Lopes got a lot out of MentorCamp. “It was just excellent,” he said.

Over the few days, Valia offered lots of expertise and tips to accelerate business growth, such as “don’t make it all about you.”

He advised them to work hard to reduce their “distance to cash” and always focus on your customers.
“Only satisfied customers will guarantee your survival, they’re your only sustainable source of revenue.”
Participants were told to have clear roadmaps to where they want to go.

“I don’t care about your passion, I want to see your conviction. Don’t tell me what you want, but how you’re going to get it.”

And they were left with huge action lists.

Valia looks forward to watching their progress.