Vancouver-based Victory Square Technologies (CSE:VST) is a venture builder that creates, funds, and nurtures start-up entrepreneurs in such areas as blockchain technology, virtual reality, artificial intelligence, personalized health, gaming, and film.VST’s CEO, Shafin Diamond Tejani, earned his fortune in the 1990s tech boom. He was all set for retirement but jumped back in the game instead. After getting married and spending time with his two children, he built a startup technology incubator to drive new ventures using the lessons he learned in the internet boom of the late 90s. Now, as a founder of VST, his goal is to incubate the tech giants of the future, and has been earning considerable success with blockchain startups.
Four years ago, Tejani met Guy Halford Thompson, who shared a vision as to how blockchain could become the new internet. Tejani learned how intermediaries could be removed to decrease friction in the marketplace and decided to fund Thompson to create BTL Group (TSXV:BTL). BTL offers enterprise-grade private blockchain development through their platform called Interbit. Together with partners, BTL serves some of the world’s largest institutions, including VISA and British Petroleum (BP).Critically for VST, investing in blockchain years before it became famous demonstrated its willingness to back entrepreneurs with vision. BTL became the first publicly traded blockchain company in Canada and is now valued at over CAD $200M. The company provides blockchain solutions to a wide variety of industries.
Tejani invested in what he saw as the most valuable commodity in a tech boom: Software developers. Blockchain startups face a sizeable technical hurdle when they move into the blockchain technology universe. To overcome this obstacle, they have to get accustomed to using Solidity. Solidity is a programming language for writing smart contracts for blockchain platforms like Ethereum. Due to Solidity’s relative newness and the growth of blockchain applications, Solidity developers are in high demand. Tejani initially had to import developers from South Africa as supply was limited in North America. From there, Victory Square Technologies began leveraging contacts through a global accelerator network to build their talent pool. Further, they partnered with code bootcamps Launch Academy and Lighthouse Labs to create blockchain-focused boot camps for developers. They now have a feeder system of developers to work on existing projects and to outsource to other start-ups. Now that blockchain is top of mind for many innovators, venture capitalists, and incubators, blockchain developers are in very high demand. To ensure VST continues to attract programmers, he uses Canada’s startup visa to attract the best global talent. Canada’s startup visa is a competitive advantage for all Canadian incubators, in contrast to how difficult it is to sponsor a talented blockchain entrepreneur into the United States.“We started four years ago when this space was quiet, and have been able to build successful ventures from several verticals based on strong management teams, large addressable markets, a product, and customers,” said Tejani. “VST’s investment in blockchain, along with their developer training funnel gives them an early mover advantage in a very fast moving blockchain industry.”
VST's headquarters sits on the edge of the gentrifying but run-down Downtown Eastside. As one enters the VST building, one senses an air of vibrancy. The top floor houses their array of projects, and one level down, you’ll find a co-working space filled with the frenetic buzz of entrepreneurial zeal. Other notable VST investments include FansUnite and V2 Games, both of which are gearing up for a token generation event and to go public this year. They have also helped to build Immersive Tech which has reached over $1MM in revenue. Tejani feels that his company has created a blueprint for success. They created a nursery for developer training and invest in promising entrepreneurs. VTL recently sponsored BTC Miami’s $100,000 prize pool for the top three blockchain ICO pitches and they continue to search globally for game-changing entrepreneurs.Image credit: Victory Square Technologies
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