Michelle Romanow on Disruption, Resilience, and Redefining Startup Funding
When I think about entrepreneurship in its rawest form, Michelle Romanow’s story comes to mind. At the ACG Edmonton Corporate Growth Summit, I had the chance to hear how her Western Canadian roots shaped her entrepreneurial mindset: scrappy, resilient, and unapologetically innovative.
The Wild West DNA of Entrepreneurship
Michelle calls herself a product of Western Canada, where creativity and grit have always fueled innovation. That entrepreneurial DNA scrappy, down-to-earth, and resilient has powered her diverse career, from e-commerce to venture capital to fintech. For me, it’s a powerful reminder that disruption doesn’t just come from Silicon Valley. It thrives in unexpected places where independent thinking is the norm.
Why Customer Perspective Wins
One of the most fascinating lessons Michelle shared was how disruption often comes when you enter an industry as a customer, not an insider. She saw the pain of e-commerce founders stuck trading equity for predictable expenses like marketing and built a better solution. That’s how Clearco became the alternative to the gatekeeping model of traditional VC.
Clearco: Funding Without Equity Strings
Her most game-changing move? Founding Clearco (formerly Clearbanc), the fintech company that turned startup funding on its head. Instead of giving up equity, founders could access fast, revenue-based financing that aligned with their growth. Since then, Clearco has deployed over $1.6 billion to 4,000+ founders worldwide. Even more impressive, its data-driven approach has backed 8x more women founders than traditional VC.
Innovation is Iterative, Not Grand
What really struck me was Michelle’s advice to mature companies: innovation doesn’t come from one big idea. It comes from a series of small, scrappy experiments. She compared it to Uber’s early days as just an auto-dialer, nothing glamorous. The magic is in execution and iteration, not waiting for perfection.
Why Fintech Is Winning Where Banks Struggle
Michelle also explained why traditional banks struggle with digital transformation. Heavy regulation and sprawling product portfolios slow them down, while fintechs thrive by unbundling services and scaling one product at a time. Over time, fintech will re-bundle, but the agility advantage is clear.
The Remote Work Challenge
Like many leaders, she was candid about the culture gap in remote work. Innovation thrives on spontaneous, in-person collisions, which Zoom can’t replicate. The future, in her view, will likely be hybrid digital efficiency balanced with intentional, in-person connection.
What Investors Really Look For
Michelle’s experience on Dragon’s Den revealed what truly matters to investors: grit, resilience, and win-win business models. Products pivot, markets shift, but founders who can adapt and push through setbacks are the ones who succeed.
Human Behavior, Markets, and the Pandemic
She even touched on meme stocks, NFTs, and pandemic-era investing, much of it driven by boredom and excess capital. For me, it was a reminder that innovation, markets, and even hype cycles are always shaped by human behavior.
Final Reflections
Michelle closed her talk with a personal touch, sharing her favorite entrepreneurial films and imagining how her own story might be told on screen. It was a great reminder that every entrepreneur’s journey isn’t just about the business they build, it's also about the narrative they create.
Her story is a blueprint for founders everywhere: stay scrappy, embrace data, think differently, and never underestimate the power of resilience.
Frequently Asked Questions
1 - What is startup funding and why is it important?
Startup funding is money entrepreneurs use to launch or grow their business. It’s crucial because it helps cover product development, marketing, operations, and scaling. Access to the right funding can determine whether a startup survives, grows, or fails in a competitive market.
2 - What are common ways to fund a startup?
Startups can get funding through bootstrapping, angel investors, venture capital, crowdfunding, or revenue-based financing. Each method has pros and cons, but the goal is to secure enough resources to grow without losing control of the business.
3 - How does fintech change traditional banking?
Fintech companies use technology to simplify financial services, making banking faster, more accessible, and customer-friendly. They often unbundle services, provide digital solutions, and innovate where traditional banks struggle with complexity or regulation.
4 - Why is resilience important for entrepreneurs?
Resilience helps founders face failures, setbacks, and uncertainty without giving up. Entrepreneurship is unpredictable, and staying adaptable and persistent often determines long-term success more than having the perfect product.
5 - How can small experiments drive innovation?
Innovation doesn’t always start with big ideas. Small, iterative experiments let companies test, learn, and improve quickly. This approach reduces risk, encourages creativity, and builds momentum for larger breakthroughs.
About the Author:
Shawn Kanungo is a globally recognized disruption strategist and keynote speaker who helps organizations adapt to change and leverage disruptive thinking. Named one of the "Best New Speakers" by the National Speakers Bureau, Shawn has spoken at some of the world's most innovative organizations, including IBM, Walmart, and 3M. His expertise in digital disruption strategies helps leaders navigate transformation and build resilience in an increasingly uncertain business environment.