Shred Capitals’ Calgary office is hosting the first annual Game Invest West summit in tandem with the Banff Venture Forum on October 23rd.
With a laser-focus on game investment, this summit is the first of its kind in Western Canada, and is invite-only, limited to participants in Shred’s Scaffold venture studio program. Scaffold was created by Matt Toner and has an ambitious goal of doubling Alberta’s gaming industry by 2026… and is well on its way.
Throughout the summer, industry leaders from around the world have shared their insights through masterclasses, 1-on-1 mentorships and in-person workshops, culminating in Game Invest West’s pitch competition on October 23rd. The top four companies from Scaffold — Praetorian Studios, VR Cave, Studio Monsoon, and Thousand Hour Games—will pitch to a panel of industry experts in front of an audience of 300+ Western Canadian investors… virtually all of whom will be looking at serious game investments for the first time.
We spoke with the pitch judges to hear their thoughts on the upcoming summit and what aspiring game developers need to know at any stage of their careers. Join Tyler Sigman, Founder of Red Hook Studios; Joshua Nilson, Founder of Eastside Games; Michael Liebe, Founder & CEO of Booster Space; John Polson, Director of Studio Investments and Commercial Partnerships at Tencent Games; Henrik Jonsson, Senior Consultant at Radgivery; and Stewart Guenther, Managing Director of VC-pert, Managing Director of Viaduct Ventures, as they set the stage for Game Invest West.
After a year filled with bad news, is the game industry ever going to turn around?
Henrik Jonsson: “Yes, absolutely. People want entertainment, and we are the biggest and most varied form of entertainment there is (Shhh, soccer! Not your turn). While the ways people access games will change—from boxes at Walmart to premium digital downloads to streaming subscriptions—video games will remain at the forefront, in some shape or form.”
Michael Liebe: “The future will be different from the past. The ongoing crises in the global financial, entertainment, and games markets will have a long-lasting impact. Financing will change, the process of making games is already different, and player behavior is shifting. Platforms are evolving. I don’t know what the future will bring, but I am confident time won’t be reversed.”
Josh Nilson: “People are only going to play more games. What’s even more exciting is that everyone is a gamer now—they have a gaming device in their pocket. There may be a slowdown in the traditional game market, but new markets and new customers are emerging.”
Tyler Sigman: “Gaming isn’t going anywhere, and the total market remains huge. There’s always a need for content. While the economics may shift, the opportunities aren’t going away. It’s sad to see many companies struggling, but as the audience grows, the upside keeps getting bigger.”
(Sigman’s Red Hook Studios was recently acquired, making him proof of the industry’s potential.)
What knocks your socks off in a startup pitch?
Jonsson: “A team that understands that running a game company is a business focused on entertainment. They need to understand the business and the industry, as well as the creative and technical aspects of shipping the game they want to make. Or just a really cool game idea—sometimes that’s all it takes to slam the ‘Heck Yes’ button.”
Liebe: “Euphoria for the team mixed with a humble approach to the challenges ahead.”
Nilson: “Founders who know their numbers and audience.”
What’s the one trick question you ask founders to get their measure?
Jonsson: “I wish I had something clever, but there’s rarely just one thing that makes me say ‘Yes’ or ‘No’ to a pitch I receive. If they haven’t talked enough about funding and budget, I’ll ask about that. If they haven’t covered their team in detail, I’ll probe there. Teams usually talk a lot about their game, but if I don’t feel the fun, I’ll ask about that.”
Liebe: “What will your company do if you’re sick for three weeks?”
What do you like about the Alberta/Scaffold companies you’ve met?
Jonsson: “There’s an eagerness to learn and a view of this as both a business and an entertainment industry. That curiosity is enthralling. It’s a very good sign, and I can’t wait to see what comes out of this program—there are a lot of great things happening here.”
Liebe: “Honest excitement for the program.”
What’s your big hope for this first installment of Game Invest West?
Liebe: “To see a deal (pre-)closed.”
Nilson: “I’m excited to share knowledge, give back, and help build the ecosystem.”
Jonsson: “I hope we show investors and public officials what the games industry truly is. What works, what doesn’t, and what kind of support helps studios in the long run. The game industry can yield a tenfold ROI over time, but it needs long-term infrastructure, not just test programs or six months of prototype funding.”
What pitfalls should startups be aware of, and what are you tired of seeing in pitches?
Guenther: “AI as a panacea and other ‘current thing’ elements, where founders try to gain a halo effect instead of diving into why their business is disruptive and grabbing both mind and wallet share.”
Jonsson: “I’ve seen over 1,000 pitches, and I’m not tired of any of them. I love seeing people’s ideas, hopes, and visions. However, I wish more founders were focused in their presentation. You’re not there to present just a game idea—you’re presenting a business opportunity, as sad as that may sound.”
Sigman: “Too much focus on the team and not enough on the product. Anyone can put together a few slides with impressive LinkedIn facts. I only care about the team once we’ve established that the game has potential. Also, game pitches that are just concept art and text—this used to work on Kickstarter but not anymore. A working prototype is much more compelling.”
Finally, why are you confident about the future of gaming in Canada?
Jonsson: “There’s a huge creative drive here, supported by the government and educational institutions. Being Swedish, I understand the long, cold winters where making video games is much more comfortable than playing hockey! There’s creativity, there’s will, and there’s competence—the three main ingredients for game development.”
Liebe: “In Germany and Europe, we look at the Canadian public support infrastructure for video games in awe. It’s our number one role model. The setting is prepared, and the creators can only win!”
Nilson: “We have the best talent and more grit than anywhere else. Pressure makes diamonds, and you’re going to see some amazing things coming from Canada’s new wave of creators.”
Polson: “There’s no single reason I’m confident about games in Canada. There’s a deep pool of talent across all provinces, from indie developers to AAA studios. Ample funding, tax incentives, thriving educational opportunities, and breathtaking landscapes make Canada one of my favorite places to dream of living and doing business.”
Sigman: “Game production depends on talent and infrastructure, which Canada has in abundance. Also, Canada offers competitive advantages with generally lower costs compared to the U.S.”
Mandatory bonus question: Oilers or Flames?
Jonsson: “I’m going to see Flames on Thursday, second row, rinkside, my first ever Canadian hockey game, whaaat! So yeah I will have to say Flames – also, they have the good taste to front a Swede as their captain!”
Liebe: “Electric ;)”
Nilson: “Oilers all the way.”
Sigman: “This disqualifies me but I’m an Avalanche fan. However, if it can’t be my favorite team, then I would love to see ANY Canadian team hoist the Cup. Watching the Oilers right now is a historical treat – the talent is off the charts.”
Their diverse perspectives from different corners of the world are just part of what drew Matt Toner and Shred Capital’s Scaffold Institute to them as mentors and stewards for the future of gaming, rooted firmly in Alberta. The first Game Invest West takes place on October 23rd during the Banff Venture Forum. For more information or to get involved with Scaffold Institute, please visit their website.
Very Cool! Looking forward to attending Game Invest West!