When you’re building a business, investors want to see that you’re making every dollar—yours and theirs—go as far as possible.
A resourceful, strategic founding team that grows efficiently will avoid unnecessary debt—and likely keep a bigger share of the company—compared to those who don’t take advantage of the many non-dilutive funding programs available to Canadian innovators today.
This is exactly the mindset that Kris McCarthy and his founding team at FanSaves have embraced.
FanSaves is a sports tech startup and digital platform that connects fans with discounts and deals from sponsors of their favorite teams and organizations. Their partners get unlimited, trackable digital sponsorship inventory through the FanSaves backend dashboard.
Their product is unique in that it offers partners a true turn-key perk that can be added to their membership benefits, while being able to fully integrate into team websites and mobile apps. This allows FanSaves partners to drive fan traffic back to their own digital assets, helping drive engagement all year round.
Kris’s journey into startups is as unique as the innovation he’s leading at FanSaves. Before entering the startup world, Kris spent seven years playing minor pro hockey, winning two championships, then moved into the front office as Director of Sales for two minor pro hockey teams in 2017.
He’s seen the world of professional sports from nearly every angle, and we get his insights on what’s next for Kris, FanSaves, and his perspective on the broader startup ecosystem as we head into 2024.
Scrappy founders come out on top
Beyond providing access to non-dilutive capital and helping recover innovation investments, SR&ED funding gives Kris McCarthy and the FanSaves team added credibility with investors by maximizing their returns.
That’s because R&D tax credits let teams recover a portion of the R&D investments they’re already making, stretching their budgets further and driving even better results.
In addition to using SR&ED funding to fuel innovation at FanSaves, Kris McCarthy and his team have tapped into a range of government grants and Canadian accelerator and incubator programs to help their innovative idea take flight.
As Kris McCarthy from FanSaves points out, there will always be reasons for visionaries to hesitate before jumping into startups. But some of the boldest moves made during economic downturns have led to incredible businesses and innovations.
