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The SimplyCast Story, Part 5: Investing in Ideas
It can be challenging trying to find investors who are willing to invest in an idea, rather than a fully formed product or service. SimplyCast was no exception. We had limited capital starting out, and we were still in the research phase. We were determined to be innovators in the technology industry, but we hadn't yet started development. How do you find strong investors who can help you in this early stage?
The National Research Council of Canada (NRC) was instrumental when we were just getting started and researching how to build our vision. The NRC was the very first investor in SimplyCast, and we were able to learn about the realities of making a multi-channel marketing platform with their support.
The NRC is a Government of Canada organization that supports small and medium sized businesses in such fields as research, technology, innovation and more. This organization has seen many businesses come and go, and they have helped many new businesses grow into established and trusted technology powerhouses.
SimplyCast failed multiple times when we were starting out. We made mistakes, figured out how to build elements through trial and error, and eventually succeeded in creating the very first version of our platform.
The NRC was there for us throughout the research process and they helped us improve and optimize our model. That first model formed the foundation of what we built our commercial product on. The entire SimplyCast team would like to thank the NRC for their support and their belief in us when our Customer Flow Communication platform was just an idea.
Read more of the SimplyCast Story here.