Canadian technology mogul Sir Terry Matthews discussed entrepreneurship and stressed the importance of rapid growth during a public lecture in the Goodes Hall Commons on Oct. 15.

The speech, part of the Principal’s Forum lecture series, touched on the importance of creating a sense of camaraderie and ownership amongst a corporate team. He also explained how a small company can compete with large, established players.

“A little company can be quick, can be nimble and can adjust to what the market needs,” said Sir Terry.

Sir Terry addressed an engaged audience in the Goodes Hall Commons, delivering a lively discussion entitled “Go Global Fast.” Speaking for almost an hour, without notes or prepared remarks, Sir Terry shared his experiences in entrepreneurship and lessons learned for the next generation of innovators. Repeatedly, Sir Terry addressed the need for companies to grow rapidly to stave off competitors in a diverse and global marketplace.

“You have a product that meets 100 per cent of the market’s needs, and you own the Ontario market,” he said.“ Meanwhile, a company out of Silicon Valley has a product that meets 80 per cent of the market’s needs, but they already own the U.S. market, the U.K. market, Europe, Asia…and so on. You won’t last.”

Prior to his public talk, Sir Terry led a roundtable discussion with students, faculty and local entrepreneurs. Topics included the domestic and global challenges facing entrepreneurs, fostering innovation and entrepreneurship amongst students and the lessons Sir Terry has learned over his career.

Sir Terry Matthews is the founder and chairman of Wesley Clover International, an investment management firm and holding company. Since 1972, Sir Terry has either founded or funded more than 100 companies, including Newbridge Networks, which he started in 1986 and has since grown to be a leader in the worldwide data networking industry, and Mitel, a current world leader in the design and manufacture of enterprise communications systems and software.

The Principal’s Forum is a lecture series in which notable guests are invited to campus to give a public address on matters of Canadian import. Past speakers have included world-renowned scholar Dipesh Chakrabarty, His Excellency the Governor General, the Rt. Hon. David Johnston, and the Rt. Hon. Tricia Marwick MSP, the Presiding Officer of the Scottish Parliament.