CEOs Share Strategies for Startup Success at North Star Event

Two prominent figures from Montréal’s tech landscape, Frederic Lalonde and Dax Dasilva, shared their insights on entrepreneurship during a discussion at the North Star event on October 5, 2023. The conversation highlighted their experiences in building billion-dollar companies and emphasized the importance of personal well-being, social impact, and effective leadership.

The dialogue unfolded at La Nesra in Griffintown, where Lalonde, founder and CEO of Hopper, and Dasilva, co-founder of Lightspeed Commerce, exchanged anecdotes and advice. Both leaders underscored a crucial point: successful founders must learn to delegate responsibilities as their businesses grow. “When you reach the point that you can no longer walk around and know what people are doing…now you have to build people,” Lalonde noted, reflecting on the challenges of scaling a startup.

Founded in 2007, Hopper gained recognition for its mobile app that helps users find the most affordable times to purchase flights. The company has since expanded into travel software for corporate clients, amassing over $700 million in venture capital and generating substantial revenue. Lalonde emphasized that allowing teams to operate autonomously is vital for scalability. “If everything has to go through you, it’s not a scalable system,” he stated.

Dasilva, whose company was founded in 2005 and is dual-listed on the Toronto Stock Exchange and the New York Stock Exchange, echoed this sentiment. Lightspeed, which reached $1 billion in revenue last year, has faced challenges with its stock price, which has not recovered to its 2021 highs. As a solution, Dasilva advised entrepreneurs to regularly reassess their roles: “Throw away your job description and write a whole new one every year.”

Self-Care and Social Impact

Both CEOs highlighted the necessity of self-care for leaders. Dasilva remarked, “The best thing you can do as a CEO is learn how to meditate and stay calm, because everyone’s going to draw that from you.” Lalonde added, “Meditation and yoga will actually save your life,” emphasizing the importance of mental well-being in the high-pressure environment of entrepreneurship.

The discussion also touched on how both Lalonde and Dasilva have channeled their success into social impact initiatives. Dasilva is involved with Age of Union, a non-profit organization focused on environmental conservation. His work has taken him around the world, where he has contributed to various conservation projects and collaborated on the Emmy-winning documentary “Wildcat.”

Lalonde’s commitment to social impact is demonstrated through his co-founding of Deep Sky, a Canadian startup aimed at capturing carbon from the atmosphere. The company opened a direct air carbon capture facility in Alberta in August 2022, the first of its kind in North America, with a goal to capture 3,000 tonnes of CO2 annually for underground storage. “One of the best ways to solve these really fundamental problems is to build companies,” Lalonde asserted.

Dasilva and Lalonde believe that pursuing social causes not only fulfills a personal mission but also sets a powerful example for leadership. Dasilva explained, “Folks want to see a leader that’s driven by doing something for the greater good. It’s like you’re a role model for doing something bigger than you.”

The North Star event, which concluded its second edition, serves as a platform for Montréal’s tech community to share knowledge and foster connections. Organized by local tech leaders alongside McGill Ventures and HEC Montréal’s incubator, La base entrepreneuriale, the event showcased perspectives from multiple generations of the region’s tech scene.

As both CEOs continue to navigate their respective journeys, their advice resonates with aspiring entrepreneurs worldwide: prioritize self-care, embrace social impact, and learn to empower others within your organization.