Patrick Millward and Colin Pritchard. Photo credit: Mark Holleron
While working at the Queensway Carleton Hospital, Patrick Millward started to become frustrated with the number of people who were getting lost in the hospital and decided he would do something about it.
In late 2013, Patrick met Colin Pritchard. They both founded separate companies and, finding that their skillsets and personalities coincided, they started exchanging business services.
They decided to work together to create a mobile wayfinding application for the Queensway Carleton Hospital. At the hospital’s request, they modified their offering from a mobile application into a publicly accessible device for all to use in order to help them navigate the complex hallways. Millward and Pritchard then attained legal advice and incorporated their company, InteractiveStudios Inc., and closed their first sale with the hospital.
“Rather than using outdated static directories and paper maps, we provide facilities with a digital indoor and outdoor solution that enhance the visitor experience by providing all wayfinding, promotion and event information in a convenient and interactive channel,” explain Pritchard and Millward. “All of the data that is received through the web, mobile and kiosk is collected, analyzed and displayed in real-time in the manager’s portal.”
(L to R) Colin A. Pritchard, Patrick Millward, Dr. Tony Bailetti, & Brendan McCrann (director of Corporate Marketing and Business Development for Interactive Studios Inc.)
By working closely with facility managers in malls, hospitals and other campuses, they quickly learned what brings these customers value and how they could provide it. “First and foremost [our customers] want to understand their visitors better and they seek answers to the who, what, when, where, why, and how questions,” says Millward. “Our advanced analytics system, that captures visitor data from many different channels, analyzes that data and provides answers to those questions in real-time.”
Continues Millward: “Secondly, our solution allows facility managers to easily update all of their mapping cross-platforms with the click of a button. Visitors can easily find directions and information before their trip (web), at the facility (kiosk), and on the way to their destination (mobile).”
InteractiveStudios Inc. was off to a great start.
Millward and Pritchard wanted to move fast and develop the skills required to take their business to the next level. While attending a networking event, Millward approached Dr. Tony Bailetti, the Director of Carleton’s Technology Innovation Management (TIM) program – a Carleton master’s program focusing on developing technology businesses. Dr. Bailetti saw great potential in the pair and invited them to sit in on his classes to get a feel for what TIM could offer.
Both Millward and Pritchard enrolled in the TIM program in the fall of 2015. “The TIM program really helped us think bigger and on a global scale,” note the young entrepreneurs. “The mentality of building a company capable of generating a million dollars in yearly sales provided us with a goal to work towards and forced us to think in millions rather than in thousands and most importantly on a global scale.”
One of the big reasons that they chose to become TIM students is that the program would not distract them from their business but would add tremendous value in its development. They learned that entrepreneurship is, “not something that you are born with; it is something that can be learned.”
“We believe that getting a professional education in entrepreneurship and technology innovation at a young age will help our current business succeed and prepare us for the challenges that lie ahead in being a business owner,” note the entrepreneurs.
(L to R) Patrick Millward, Brendan McCrann, Colin A. Pritchard
A practical example of how the TIM program helped their company grow was sparked by their first course. “Tony explained how startups should be flexible organizations using a lean canvas and not wasting time building a rigid, lengthy business plan. At the time, we were working on a business plan for our startup and were limiting ourselves by thinking small and focusing on a single market. This change of mentality allowed us quickly and effectively explore other markets, make pivots and position InteractiveStudios for market traction.”
Today, InteractiveStudios Inc. is established and profitable with no sign of slowing down. The founders have struck a deal to build several digital directories for the CF Rideau Centre and could potentially be extending this partnership to implement their product in other Cadillac Fairview shopping centres. Recently, they have also supplied a smart, interactive digital signage system to Carleton University.
Millward says: “Our system will help make the Carleton University business accelerator the best resource centre for young entrepreneurs in Canada. The entrepreneurs will be able to book workspace and meeting rooms, connect with other companies, access digital information, schedule time with human resources, and continuously improve the services provided to them.”
Says Pritchard: “Our vision is to become the digital information hub for large facilities around the world.”
Millward adds: “We are on track for generating annual revenues exceeding $1M in annual sales within the first three years in business.”
Friday, July 15, 2016 in News, Research
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