While working offshore on the oil rigs in Australia; Matthew Moore’s wheels were turning with product ideas. He noticed that there was a demand worldwide for innovation on existing products that were being used in the rope access and marine safety sectors. With the advice from his father who has been working in rope manufacturing for over 35 years, Matthew knew he had ideas that were viable and needed to be turned into reality. That’s when Canada Rope and Twine Ltd. was born.
Coming from a family of entrepreneurs, which included his grandfather who was a pioneer in bringing rope manufacturing to Canada 65 years ago, and a father and uncle who both worked in their own rope manufacturing businesses, it was no surprise that Matthew was bound for entrepreneurship too. After seven years in Australia working for a company in the marine safety sector, and seeing the massive void and demand that existed in the industry, Matthew was hooked on becoming an entrepreneur.
But just like any new business idea, Matthew had to confirm that there was in fact a demand for a company like Canada Rope and Twine Ltd. He spent three months conducting market research where he did a lot of door knocking and phone calls which helped him confirm that there was a demand and a sea of potential customers out there. Matthew was now equipped with not just an idea, but one that he knew would succeed.
The next step was securing the financing he would need to actually take the idea and dream of Canada Rope and Twine and turn it into reality. “It was getting frustrating as the business plan which included customer support letters seemed like a no brainer for banks to come on board,” he explained. However, approaching banks was just making Matthew impatient and frustrated which is where he discovered Futurpreneur Canada.
Matthew applied for the Spin Master Innovation Fund which is a program run by Futurpreneur and Spin Master to help support innovative entrepreneurs across the country with up to $50K in financing, mentorship and access to exclusive business sessions. “The Spin Master Innovation Fund has allowed me to gain traction that much quicker,” he described. “Working with Futurpreneur has made the launch of my business that much smoother.”
The idea for Canada Rope and Twine only began in January 2016, and within less than a year with the help of customer support, and programs like the Spin Master Innovation Fund, it continues to pick up momentum. Matthew wanted to leave advice for other aspiring entrepreneur which is: “Firmly believe in your gut. Take the knocks and setbacks that follow and use it as fuel! I believe there is no better time than now to become a start-up.”
To learn more about the Spin Master Innovation Fund, click here.
Written By: Lauren Marinigh, Social Media & Content Creation Coordinator, Futurpreneur Canada