On Wednesday April 22nd we’re taking a break from the Seminar Series and hosting our first NVBC Networking Event at SFU Harbour Centre at 515 West Hastings Street. The doors to Room 1400 open at 5:30pm and as Angie has promised, there will be

If you’re sitting on the fence about making your way down, get off it.

The Canucks will have already swept the Blues in four straight and there is another reason to head downtown. The Bootup Labs Entrepreneurial Society’s International Mentor Program series of events kicks off at Steamworks across the street with TechStars‘ Brad Feld joining a long list of entrepreneurial-types over beers.  Who’s Brad Feld?

Two networking events across the street from each other – it’s a no brainer. See you at the NVBC event and afterwards for Beers with Brad Feld – be sure to sign up online.

Download the presentation slides.

In advance of their attendance at the NAB Show next week in Las Vegas, 2008 Top 10 Finalist Singular Software Inc. has released PluralEyes – a new product that automatically synchronizes audio and video clips without the need for timecode.

Targeted at the independent video professional, PluralEyes drastically simplifies multi-camera productions, both during filming and in post-production.

PluralEyes determines synchronization information from audio that is already present in the recorded material. During the shoot, there is no need to connect cameras and audio recorders or take any other special steps to prepare. And when shooting is done, the creative editing process can get started right away without the time-consuming step of matching clips manually. This removes the biggest bottlenecks in both production and post-production.

The first version of PluralEyes works with Apple’s Final Cut Pro editing software and is priced at $149 USD. Trial versions of PluralEyes™ can be downloaded online.

Considering it’s Game 1 of the Canucks in the playoffs, the room is full and people are ready to learn about market research and product marketing. Rocket Builders’ Dave Thomas is up:

How do I make sure that there is a market for my product? Resources for participants: LinkedIn Group and a poll
Learning objectives for today:
1. Take time for market research:
Begin with the end in mind
Find which concept your market falls into, so is there a need, a large market or an emerging market for your product

Market, pains and requirements: every market has pains and requirements
Ask specific questions about your market, as in how big is the market, why do they need your product, who pays for it, who uses it and how much are they willing to pay for it. You also have to understand that the inferior substitute exists, even if you are offering a new and different product, people don’t want to change their behaviour easily

Market Segmentation:
1. Revolutionary Product
-unpredictable, iPod
2. Evolutionary Product:
-    small incremental change, an iPod application, to those of us for an iPod application: how are you going to make money?

Why Segment? Focuses resources, narrows whole product, limits real competitors, leverages past successes, allows the benefits of market leaderships Where do you search these resources? Secondary search resources, customer interviews and partners and channel, customer interviews at trade shows are great for market research, retail customer service,

2. Understand concepts of technology adoption and whole product and how it impacts market.  It provides an understanding of customer requirements and establishes focus for timing. Example is early adopters, late majority followers. Most people fall into the innovator position.  This could change if there is a need for it.

Break: Canucks are up 1-o.

Whole Product Definition:
There is a core product, and complementary services and complementary products.  So, there is consulting, hardware, software, and integrated services.  What are some other questions to ask? What are the complementary services that have to be acquired, or the additional hardware required, will customers achieve ROI without other products?

How do you market the product is the next question? Now it’s an exercise called Ad-Hoc Whole Product Audit: what complementary services must be acquired, what additional hardware has to be purchased, how will these components affect your total cost of ownership?

Why will they buy from us vs. our competition?
Positioning=managing product
Perceived status within market
Build relationships to secure and communicate competitive advantage

Working with other partners and leveraging that is crucial and this is also called positioning impact.  Your positioning process is also important: market research, segmentation, differentiation, test, positioning, marketing plan.  The project positioning exercise is 12-18 months, so don’t feel bad if your business plan takes 3-6 months.

A great plan has to appeal to customer and company, has to fit the trends and it has to be unique. Pricing software as a service.  How do you do this? What is a business value? The market will do this for itself.  When a product is innovative, it’s hard to price the product. When it’s too cheap, many think the product won’t work.

Pricing methodology: determine market size, don’t ask direct pricing questions, what are price objections you hear, how does your pricing model compare with the industry, how do you offer promotional pricing, what licensing alternatives do you offer, what discounts do you provide to resellers?

Recommended Books: Chasm Companion by Paul Wiefels

2003 New Ventures BC competitor GenoLogics announced today that it is teaming with Applied Biosystems, a division of Life Technologies Corporation, to provide an integrated lab and data management solution for their next generation advanced genomic analysis platform, the SOLiD™ System.

As a member of the SOLiD™ Software Development Community, the nature of the relationship between Applied Biosystems and GenoLogics spans both technical and joint marketing initiatives. By making SOLiD™ technology customers aware of the unique strengths of Geneus, they will see a clear path as to how they can accelerate their next generation sequencing results with a fully integrated lab and data management solution.

“We are pleased that Applied Biosystems found Geneus to be a uniquely qualified lab and data management solution for their next generation sequencing platform,” said Sal Sanci, VP Product Management for GenoLogics. “Our relationship will provide SOLiD™ System users with a single data management solution from sample submissions to results not only for their next generation sequencing projects, but also for their other genomics research.”

GenoLogics is the leading provider of informatics solutions for translational research, spanning both the discovery and biomedical research domains.

NVBC’s 10-week seminar series is underway and seminar #3 takes place this Wednesday, April 15th when Rocket Builders’ Dave Thomas covers “Market Research and Product Marketing“.

The first two seminars of the series have been well attended, so it looks like this year’s New Ventures BC competition is on track to be huge despite our troubled economy. Register online now and arrive before 7:00pm on April 15th to network, enjoy refreshments, and grab a good seat to watch the seminar.

All seminars are open to both NVBC competitors and the public. The cost for the entire series is $100 per team or individual, which also covers your competition entry fee for those teams or individuals interested in joining. The fee to attend any individual seminar is $20 and students with valid I.D. cards may attend for free.

Last week 2008 New Ventures BC competitor PeerFX launched its peer-to-peer online foreign exchange service with the promise of better rates. Looks like there on to something big as customers are lining up to use the service and they now have a waiting list 250 long.

PeerFX’s introductory rate of 0.35% of the transaction volume is available until the end of May to encourage early adopters. Sign up is free and they’re open for both USD to CAD and CAD to USD trades.

If PeerFX sounds really familiar you likely caught a glimpse of founder Florence Leung on CBC Dragon’s Den 18 months ago. PeerFX’s pitch was one of the few that ended in a serious offer from the Dragons and Leung’s team made waves by turning them down after the show.

Since declining the Dragon’s offer, Leung has been bootstrapping the business but is now looking for investors. In February PeerFX conducted an investor forum that was attended by both local and international investors and today they hit the new wires with a press release. They’re currently focused on business development efforts and hitting milestones which include closing its first financing round by the third quarter of 2009.

Check out their Changing Exchanging blog where the team writes about startup issues and the odd rant about financial services.

Pure Lignin, a New Ventures BC 2008 finalist, has completed a portable demonstration plant and began demonstrating its technology to prospective buyers this spring. The technology is a simple and efficient process for turning waste vegetation, such as beetle-killed pine trees and sugar-cane waste, into three profitable products: pure lignin, commercial cellulose and carbons for bio-fuels and protein.

The poor economy is working in Pure Lignin’s favour, says Lani O’Flynn, vice-president and CEO. For example, she says, “An integrated pulp and sawmill will generate $250 per tonne of input. Our plant will generate $550 – $700 per tonne of input without pollution.”

O’Flynn says dozens of companies and municipalities have expressed interest in their technology.

2008 New Ventures BC finalist Primisyn has acquired five major clients in Western Canada since last fall and added three new employees.

The company has developed software for financial institutions that takes the guesswork and the risk out of product, loan and mortgage pricing.

“We’re definitely gaining acceptance and momentum in the marketplace,” says owner Todd Winship. He says the firm may hire a further two employees this year but is being careful to pace its growth. “We’re very focused on keeping a slow-growth strategy and making sure all our clients are getting value from what we’re doing.” The company is profitable and is not seeking financing.

Download Dr. Mario Kasapi’s presentation

Download Doran Ingalls’ presentation