The new frontier of Canadian technology and business is starting to take shape.
The Toronto-based startup, called ReThink, has launched a crowdfunding campaign to get the company off the ground.
It hopes to create a new, more competitive marketplace where entrepreneurs and small businesses can compete with larger companies, the Globe and Mail has learned.
“The way the world works is the big guys dominate the markets and the smaller guys can’t compete,” said Jason Segal, the CEO and co-founder of ReThink.
“What we’re going to do is create a different kind of ecosystem, where you can find all the big companies in one place and smaller companies can compete for market share and get their ideas funded.”
ReThink’s campaign, which began on Tuesday, is one of several in the U.S. and Europe to try to address the lack of a national marketplace for startups and the lack, or unwillingness, to fund them.
Some companies have set up their own crowdfunding sites, while others, such as Startup Nation, have launched websites.
But ReThink is one that Segal is very familiar with.
His previous job was with a software company called X-Team Software.
The company is building a marketplace that will be completely decentralized and based on a blockchain.
It will allow companies to compete with one another without needing to build out their own platforms.
The ReThink platform, called Resilience, is an online marketplace where people can sell their services, such in software, hardware or services, with a fair price.
The system, designed by Segal and cofounder Andrew Miller, will allow businesses to compete for the same resources and help startups with a competitive advantage, according to the campaign website.
The startup has raised $100,000 in a crowdfund drive that has attracted about 250 backers.
“There’s a lot of competition out there and you can’t do it without a marketplace, and that’s exactly what we want to do,” Segal said.
In Canada, there is no national marketplace.
There are a few national boards for startups, but they are largely dominated by private equity firms.
Segal is a partner at Canadian investment firm Capita Partners, where he oversees $25 million of investments in the tech industry.
He said he hopes the ReThink crowdfunding campaign will encourage more investors to invest in startups.
“They’re kind of missing the boat,” Segar said.
“I think it’s a great idea to get more people to start a business, to start investing, and if we can get more investors and entrepreneurs to invest, that’s good for the economy.”
ReUse will provide a “real-time” marketplace, in which people can buy and sell their products, said Segal.
The site will also allow companies that have not created a platform to provide products, services or hardware that can be sold on the marketplace.
The crowdfunding campaign is currently open to Canadians and U.K. residents, with proceeds going to the ReUse team.
In an email to supporters, the company said the company has raised more than $100 million in venture capital and will be able to expand its network of investors.
The company is also looking for partners to help fund the company.
“We want to bring together entrepreneurs and investors from all around the world, and theres a great chance we can help make a difference in the world,” Segel said.
Sgal said the crowdfunding campaign represents the “new frontier” for the technology industry in Canada.
“When we look at how much money we can make in a year or two, we think it can make a real difference for the whole world,” he said.