North Star: Inspiring, Connecting, Propelling Montreal’s Ecosystem

This initiative, spearheaded by Nectarios Economakis and Gabriel Sundaram, and driven by the community in partnership with HEC and McGill, brought together a passionate and engaged audience at the HEC auditorium in downtown Montreal. More than half of the attendees represented startups, with nearly 97 young companies present.

Harley Finkelstein, President of Shopify, set the tone as the keynote speaker. His vision of entrepreneurship, focused on value creation and the importance of independence, resonated with participants. Finkelstein emphasized that entrepreneurship transcends background and origin. What truly matters is the relentless drive to solve a problem. To him, Montreal is the most entrepreneurial city in the world, despite locals' tendency to downplay their achievements. He also highlighted that the cost of failure has decreased, while the ceiling for growth has become limitless. Shopify's decision to go public to maintain its independence exemplifies this mindset of staying in control.

Several key lessons emerged from the evening’s discussions:

1. Speed and intensity are crucial. Malik Yacoubi (Nesto) stressed the importance of bringing a product to market quickly. Team energy and responsiveness to feedback are vital.
2. Balance speed with sustainable growth. Joann De Zegher (PemPem) reminded us that each stage of a startup requires a tailored pace.
3. Obsession and rigor. Anna Chif (Coral) emphasized the need to be accustomed to strict regulations in certain markets while maintaining a high level of intensity.
4. Tell your story. Andrew Lockhead (Stay22) shared that overcoming challenges often requires effective communication: refining your message and showcasing your results.
5. Take care of yourself. Joann De Zegher (PemPem) highlighted that entrepreneurship is a marathon, not a sprint.
6. Persistence and data analysis. Academic experience can equip founders with skills to analyze data and persevere through obstacles.

Finally, a reflection on Montreal’s ecosystem is necessary: only about twenty companies have surpassed $100 million in revenue (Nesto, Hopper, Alayacare, Nuvei, Talent.com, Vosker, Workleap, among others). Harley Finkelstein urged the community to shift this reality by aspiring to become acquirers rather than acquisition targets.

North Star achieved its goal: to inspire, connect, and ignite ambition. Montreal possesses a unique energy and a new generation ready to shape the future.

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