{"id":31636,"date":"2017-06-01T09:00:35","date_gmt":"2017-06-01T13:00:35","guid":{"rendered":"https:\/\/huntsville.dopperonline.ca\/?p=31636"},"modified":"2017-06-01T11:25:44","modified_gmt":"2017-06-01T15:25:44","slug":"why-i-support-accelerate-muskoka-mayor-scott-aitchison","status":"publish","type":"post","link":"https:\/\/doppleronline.ca\/huntsville\/why-i-support-accelerate-muskoka-mayor-scott-aitchison\/","title":{"rendered":"Why I support Accelerate Muskoka – Mayor Scott Aitchison"},"content":{"rendered":"
\"\"

By Mayor Scott Aitchison<\/p><\/div>\n

Some history to begin\u2026<\/strong><\/p>\n

As part of the G8 legacy funding projects, the building at 87 Forbes Hill Drive was constructed. The original plan was to achieve a long-time goal of the municipality to have a post secondary educational institution here. With the building constructed, the Town was able to make a deal with the University of Waterloo to create an advanced research centre for studies in environmental science.<\/p>\n

There seemed to be a great sense of promise for the partnership at the grand opening of the new research centre in January 2011. (uwaterloo.ca\/news<\/a><\/span>)<\/p>\n

<\/broadstreet-zone><\/strong><\/div>\n

As time marched on, it became apparent that the University of Waterloo was not going to be able to meet their commitment to the facility and the plans for year-round research and teaching happening at the facility faded quickly. (theglobeandmail.com<\/a><\/span>)<\/p>\n

In response to the waning interest of the University of Waterloo, the Town of Huntsville collaborated with the Muskoka Community Network to host a conference at the building to discuss the possibility of achieving the original goal of the building through the creation of a business incubator \/ accelerator. Business leaders across Ontario came and talked about the opportunities and potential challenges of creating a business incubator in Huntsville. From what we learned that day, the biggest challenge of most business incubators in Canada today is that they rely too heavily on government funding. We learned that the best way forward for us to have a successful incubator in Huntsville would be to have significant private investment first to be supplemented by federal and provincial investment.<\/p>\n

Upon my election as Mayor, I met with the Dean of the Faculty of the Environment at the University of Waterloo to discuss if some of the terms of the lease could be amended to improve the Town’s position within the agreement. We agreed that the university would pay rent for a guaranteed two months use of the whole facility and year-round use of their lab space. The new agreement also permitted the Town to rent space to other groups and retain the revenues in order to help offset the costs to the taxpayer for the operation of the building.<\/p>\n

On July 31, 2015, Council issued an RFP for the use of the building. The time for submissions was extended to December 21, 2015 and at that time the Town received one proposal from a group of entrepreneurs who had taken the findings of the summit the year previous and turned it into a plan. They called their initiative Accelerate Muskoka.<\/p>\n

The partners in Accelerate Muskoka at the time were David Smith, Andre Boysen and Dr. Colin Yates. They have been working to bring this business incubator to reality since that time. Among the key steps in the process of making the incubator a reality was the addition of Jack S. Wadsworth, Gregory Thompson and Paul Thomas to their Board of Directors. Another key step in their process was to secure an anchor tenant for the building to help offset operational costs. It was their objective to secure a stable long-term tenant that would complement their work.<\/p>\n

Why a second RFP?<\/strong><\/p>\n

At the General Committee on April 26, 2017, Council voted to direct staff to prepare a new RFP for the building. Council agreed to this move in part because we were not certain that the Accelerate Muskoka Group would be able to secure their anchor tenant. At this time, Council had also received word from the University of Waterloo that they were going to cancel their lease with the Town and move out completely. Council rightly wanted to continue on securing a sustainable future for the building and the taxpayer, so all agreed to a new RFP.<\/p>\n

Where are we now?<\/strong><\/p>\n

Between the time of the vote at General Committee on April 26 and the ratification of that vote at the Council meeting on May 23, the Accelerate Muskoka group informed the Town that they were now \u201cin a position to proceed\u201d with the final step in the process to take over the building \u2013 that being negotiations with staff to come up with a final agreement that could be presented to Council.<\/p>\n

After all the work that has gone into making the business incubator a reality, I personally feel that pausing the new RFP to see if a deal can be reached with Accelerate Muskoka is well worth the investment of time and energy.<\/p>\n

I suggested \u2018tabling\u2019 the motion regarding a new RFP at the Council meeting because it is the process that permits Council to deal with the motion again at the next Council meeting. This gives Accelerate Muskoka and municipal staff a month to come up with a deal to present to Council. If that deal is not acceptable to a majority of Council there are still options for Council to discuss, including: extending the negotiations with Accelerate Muskoka or issuing the new RFP for a new proponent.<\/p>\n

A new RFP is still a real possibility.<\/p>\n

Why not just sell the building or rent it to the highest bidder?<\/strong><\/p>\n

The original pitch to the federal government to spend the money to construct a green building that would be used to house post secondary educational opportunities and world class scientific research on the natural environment was a great one \u2013 one worth investing some energy into. To have a building like the one at 87 Forbes Hill Drive in our community is actually an amazing opportunity \u2013 it would be an amazing opportunity for any community.<\/p>\n

I feel compelled to make a final push to achieve as much of that original goal as possible. While that position may not be popular right now, or during the next election, I am convinced that a quick lease with the highest bidder or a sale at a price that would be dramatically less than what was spent to build it does not achieve a lasting or significant legacy for the people of this community.<\/p>\n

The Accelerate Muskoka proposal would:
\n1. Cover all the costs associated with the operation of the building,
\n2. Lease the building for 5 years with an option to buy the building in 5 years,
\n3. Fully use the building for the original purpose of education, environmental stewardship and economic growth,
\n4. Establish a multi million-dollar fund to help \u2018green-tech\u2019 start-up ideas become successful businesses,
\n5. Leverage the significant private investment for federal and provincial development funds,
\n6. Create a partnership with the Town of Huntsville where the municipality will benefit from the successes while remaining shielded from failures, and
\n7. Ensure opportunities for others interested in the building to rent space as well.<\/p>\n

I believe that the partners in Accelerate Muskoka can make this all happen because of who the partners are and what each of them have already accomplished. A sample of their CV\u2019s follow:<\/p>\n

Jack S. Wadsworth<\/strong>
\nMr. John (Jack) S. Wadsworth, Jr. is the Honorary Chairman of Morgan Stanley Asia and an Advisory Director of Morgan Stanley, globally based in San Francisco. Mr. Wadsworth joined Morgan Stanley as a Managing Director in 1978. In 1987, he moved to Japan as President of Morgan Stanley Japan, Chairman of its Executive and Operating Committees, and as Head of the Firm\u2019s investment banking business in Asia. In 1992, Mr. Wadsworth moved to Hong Kong as Chairman of Morgan Stanley Asia. In 2001, he moved from Hong Kong to San Francisco. Mr. Wadsworth is Vice Chairman of the Asia Society\u2019s Board of Trustees, the Vice Chairman of the Pacific Basin Economic Council (PBEC) United States Member Committee, the Treasurer and Chairman of the Finance Committee and Director of PBEC International, a Trustee of Williams College, and a Board member of the Guggenheim Museum of New York. Mr. Wadsworth also serves as an Advisory Board member of the Softbank Asia Infrastructure Fund, a member of the International Advisory Board of Walden International, a member of the board of Pixar Animation Studios, and as a General Partner of Manitou Ventures. Mr. Wadsworth began his investment banking career with The First Boston Corporation in 1963. When he left in 1978 he was Executive Vice President, a member of the Management Committee and the board, and Co-head of the Investment Banking Department. Mr. Wadsworth earned a BA from Williams College in 1961, and an MBA from the University of Chicago Graduate School of Business in 1963. (Source: Global Philanthropy Forum) Mr. Wadsworth is the owner of Port Cunnington Lodge and Bigwin Island Golf Club.<\/p>\n

Greg Thompson<\/strong>
\nMr. Greg Thompson has spent his entire career in the investment banking business, starting at Morgan Stanley after completing his MBA at Concordia University. From Morgan Stanley, he moved on to become Executive Vice President of Orion Securities, then Founder & CEO of Wellington West Capital Markets, then Head of Investment Banking at National Bank Financial.<\/p>\n

Paul Thomas<\/strong>
\nMr. Thomas has over 18 years of international fixed income experience. Most recently, he was the President of Cornerstone Capital and prior to that he was a Managing Director and Co-Head of the Merrill Lynch Global Rates Group in New York, responsible for a multi-billion-dollar revenue stream and overseeing 250 fixed income traders globally. Paul has also served in many regulatory and governmental advisory roles, including selection to the United States Treasury Borrowing Advisory Committee.<\/p>\n

Andre Boysen<\/strong>
\nMr. Boysen is Chief Identity Officer, Secure Key Technologies Inc. SecureKey is the identity and authentication provider for organizations that deliver online consumer services. SecureKey eliminates the need to store passwords by securely linking consumer ID to trusted devices, while providing consumers with the choice, control and convenience over how they access the services they want. SecureKey provides authentication services for the Canada Revenue Agency. Andre has accomplished the following for SecureKey: \u2022 Launched and managed the company, positioning the business as the leading provider of identity and authentication services. \u2022 Built a global client base of public sector and B2B accounts that includes government agencies in Canada and the United States, as well as large financial services corporations. \u2022 Navigated the company through growth to encompass headquarters in Toronto, and offices in Boston, San Francisco, and Washington DC in the United States with 65 employees. \u2022 Credited with building a privacy protocol that empowers access to multiple services using known and familiar consumer credentials, such as bank account information; inventor or co-inventor on seven granted patents covering the company\u2019s identity and authentication technologies. \u2022 Wrote the proposal that secured a contract with the government of Canada to link access to 86 online government services using a single set of consumer banking credentials. \u2022 Established opportunities in existing markets while leading penetration into new verticals; attends professional and industry conferences to boost brand visibility.<\/p>\n

Ultimately<\/strong>, my goal is to do everything in my ability to make Huntsville a more vibrant, thriving and successful community. I am certain that the skill, experience and the personal contributions made by the leaders of Accelerate Muskoka will benefit Huntsville for many years to come. There is no shortage of business incubators that have not been successful because of a lack of private funding or poor leadership. I am confident that the individuals committed to this project have the skills to make it a resounding success for all of Huntsville for many years to come.<\/p>\n

Scott Aitchison<\/strong>
\n Mayor<\/strong><\/p>\n

Don\u2019t miss out on Doppler! Sign up for our free newsletter here.<\/a><\/strong><\/p>\n

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