In a recent article in The Economist, it refers to data as the world’s most valuable resource. That’s no surprise to Stephen Ufford, CEO of Trulioo; Trulioo is his fourth data startup. As a serial entrepreneur, Stephen likes to challenge the status quo and if it’s broken, he likes to fix it. In 2011, the identity veteran started his most recent startup, Trulioo, to help build a trust layer into the Internet, and fix the problem of broken identity that today affects so many online businesses.

Stephen was recently a guest on Startup Canada’s Podcast. He talks about the story behind Trulioo’s creation, and about the awe-inspiring impact Trulioo is having across the globe.

Globally, there are an estimated 220 million children whose birth is not recorded, excluding China, where figures are unknown. More than 2.5 billion people in this world are unbanked and unable to access financial services, primarily due to a lack of traditional identity documentation. After witnessing the tremendous emotional reaction and sense of belonging experienced from a woman from India – resulting from creation of a digital profile (footprint) Stephen knew his next business venture would make a profound difference in the world.

Stephen talks about his motivation, what keeps him going for all these years. As every entrepreneur knows, there are many roadblocks, problems and issues along the way. Having a deeper purpose, beyond simply money, is vital for those hard-times, keeping yourself reminded of the big picture.

He talks about having a Co-Founder that shares the same inspirations as he does. Startups are tough; having someone to share the burden makes that much easier. He also talks about scaling the business and the problems associated with rapid growth.

If your interest is Startups, Stephen offers a lot of excellent advice; from critical steps for success to the importance of planning, being flexible to working with investors and raising cash. He is full of excellent tips for entrepreneurs and loves to share his knowledge and experiences.

If your interests lie more on innovating and overcoming the obstacles of cyber identity in developing countries, he also offers insights into what he’s learned so far with Trulioo. He talks about the challenges we have conquered already, and the innovations we’ll focus on in the future.

Startup Canada Podcast Show

The Startup Canada Podcast Show is a production of Startup Canada, a grassroots, entrepreneur-led movement to bring together, celebrate, and give a voice to Canada’s entrepreneurship community. On the podcast, award-winning entrepreneur host Rivers Corbett speaks with the movers and shakers of Canada’s entrepreneurship community to give a glimpse into the future of business, and share insights on everything from social innovation to the future of work, investing, and why we need to think bigger to take our businesses global. Join Rivers Corbett for new episodes every Tuesday airing at 10 AM ET for lessons, trends, and opportunities in entrepreneurship from Vancouver to Fredericton; and Israel to Peru.