Clare Nelson of Quaresso Talks about Her Startup Experience
Where are you from originally?
I was born in Palo Alto, but have lived all over the US and Europe. Grew up learning how to surf, went to high school in New Jersey.
What university did you go to?
The school of hard knocks, I can pick up technology quickly, but learn life lessons slowly.
I got my undergrad degree in Math at Tufts University, and then did MBA studies at California State Lutheran University in Santa Barbara, and Regis University in Colorado.
However, I got my best education growing up with two brothers.
What brought you to Austin?
14 years ago, my husband was recruited by IBM/Tivoli. The first week, I saw a scorpion in the living room and was read to move. I never thought I’d end up falling in love with Austin.
What is your passion and strength?
Business development of any flavor. Quick time to revenue for a startup or large corporation – opening new markets, creating a pipeline, securing OEM deals, product positioning and competitive analysis.
What need does it fulfill?
It fulfills the need to accelerate time to revenue, which is a balance between targeting anyone who will listen, and targeting the optimal subset of customers. For startups, many early customers are not optimal because they:
- Want product modifications or support on another platform, and you are not ready for this, and do not even have the budget or headcount to support it
- Are too small, or not worth the effort to get up and running – it may be the case it takes just as long to get a large customer up and running
- Won’t serve as a stellar reference account, let alone agree to a press release
- Are outside your market validation set of target market early adopters, their pain is not substantial and pressing
- Don’t have support from the CEO on down to user your product, test it and adopt it
- Have insufficient cash flow, and may not be able to pay you on time, if at all
- Do not have the right people assigned to test drive your product and provide valuable feedback
- Are difficult to work with
What exactly do you bring to startups?
30+ years of WW experience in high tech – I’ve made enough mistakes to recognize them elsewhere.
I’ve worked as an employee at four different startups: ACC, CMC, Dazel and SAP spinoff, TeaLeaf Technology, as well as large companies: DEC, EMC, Dell. I know how startups work, and what large corporations demand for product requirements. I spent the first 8 years of my career in the pits with the bits as a software engineer, then progressed through product management and various executive positions. I bridge technology and the market.
I’ve mentored or consulted for social network aggregators, security, storage and software companies.
What type of startup would benefit from your strengths?
High tech, with a software or Web 2.0 dimension. Also biotech, I consulted for Cell Marque, a manufacturer of reagents for immunohistochemistry, specifically cancer detection.
What was the most challenging aspect of starting up a business?
Eight years ago, I started ClearMark Consulting. The isolation and having to do everything myself was daunting in the beginning. One day I did everything from fish through a user manual to figure out a fax machine error code, to close a large deal with a Fortune 1000 client. Here are some things I would not repeat:
+ Underestimated the expense and struggle to stay cash-flow positive, underestimated the expense of simple things like accessing Gartner or IDC reports. Learned very quickly to get my large clients to give me access.
+ Spent way too much time on a Web site, did not use it, and still to this day get referrals from colleagues and word of mouth. All I really need is LinkedIn and my iPhone.
+ Spent too much time on early PowerPoint decks, I am a Tufte (the communications expert, not to be confused with my alma mater, Tufts) fan, I hope to do away with PowerPoint in the future
+ Underestimated the degree of flexibility for negotiating compensation. I have been paid in laptops, equity, deferred cash, etc. Each deal had a different structure.
+ Underestimated the power of outsourcing, even though it is just me, hiring some temps or using outsourcing services made life much easier.
+ Underestimated the value of telling a client exactly what I thought. Turns out this is often what secures repeat business. To this day, clients from the past call me to ask for my un-varnished, frank opinion.
What advice do you have for entrepreneurs?
+ Verify market demand, find the pain, identify the problem you are solving. The old “build it and they will come” model only works in Hollywood.
+ Spend more time with customers than your colleagues.
What Austin-based resource have you found to be the most helpful and why?
+ Yoga studios – it’s how I keep sane and healthy
+ Previous colleagues and friends. They have the battle scars and know what can go wrong, and how to avoid it. They have vision and enthusiasm, we share a passion for all things high tech.
Best regards,
Hall T.
Monday, September 28, 2009
Monday, September 21, 2009
Imagine H2O Seeking Innovative Business Plans
Imagine H2O is a non-profit organization that aims to support and advance water technologies. Its inaugural business plan competition focuses on water efficiency and is awarding $70k in cash and in-kind services. It starts on Wednesday, Sept. 1 and ends on Nov. 16. The direct link to the competition is here: http://www.imagineh2o.org.
WANTED: INNOVATIVE SOLUTIONS TO WORLD’S WATER CRISIS
REWARD: $70,000
Business plan challenge opens September 1, 2009
The inaugural Imagine H2O Prize competition is now open for submissions. The competition offers prizes of $70,000 in cash and in-kind services, which will be awarded to the business plans which promise the greatest breakthroughs in the efficient use and supply of water.
The Imagine H2O Prize is designed to encourage the competitive and ambitious spirits of entrepreneurs, investors, experts, inventors and academics around the world to focus on water issues. This inaugural business plan challenge focuses on solutions to improve water efficiency in agriculture, commercial, industrial or residential applications, such as water demand reduction, improved water use, water recycling and/or reuse.
Entries will be accepted from around the world beginning September 1 through November 16, 2009. Winners will be announced at a showcase event in early 2010. Future competitions will have different prize topics addressing other critical water challenges. For more details and to participate, go to: www.imagineh2o.org.
Best regards,
Hall T.
WANTED: INNOVATIVE SOLUTIONS TO WORLD’S WATER CRISIS
REWARD: $70,000
Business plan challenge opens September 1, 2009
The inaugural Imagine H2O Prize competition is now open for submissions. The competition offers prizes of $70,000 in cash and in-kind services, which will be awarded to the business plans which promise the greatest breakthroughs in the efficient use and supply of water.
The Imagine H2O Prize is designed to encourage the competitive and ambitious spirits of entrepreneurs, investors, experts, inventors and academics around the world to focus on water issues. This inaugural business plan challenge focuses on solutions to improve water efficiency in agriculture, commercial, industrial or residential applications, such as water demand reduction, improved water use, water recycling and/or reuse.
Entries will be accepted from around the world beginning September 1 through November 16, 2009. Winners will be announced at a showcase event in early 2010. Future competitions will have different prize topics addressing other critical water challenges. For more details and to participate, go to: www.imagineh2o.org.
Best regards,
Hall T.
Wednesday, September 16, 2009
John McElhenney Talks about Social Media
John McElhenney Talks about Social Media and his Web Site Fluent Search
Where are you from originally?
Austin, Texas - "native"
What university did you go to?
UT
What brought you to Austin?
Mom and Dad.
What is your passion and strength?
I enjoy rallying teams and seeing new ideas built to completion. New technologies and social media sites have to enhance our abilities to do our jobs rather than waste time. Figuring out how to engage and not get lost is a plan I am constantly building and refining.
What need does it fulfill?
Establishing a social media plan for business development and growth. Using ideas learned within big companies can help smaller companies level the playing field. It's all about responding to the needs of your customers.
What exactly do you bring to startups?
With a passion to communicate and a deep understanding of technology and social media networks, I work with companies wanting to set up and work the web for customer engagement and lead generation.
What was the most challenging aspect of starting up a business?
Continuing to focus on what drives revenue. It is easy to get distracted by all of the opportunities to get involved, but staying focused on your long term objectives is critical to not being sidetracked by all the shiny objects that can be labeled social media.
What advice do you have for entrepreneurs?
Going out into social media with no plan CAN hurt your business. The goal of any social media system is to be responsive and flexible in communicating with customers, potential customers, media and vendors.
What Austin-based resource have you found to be the most helpful and why?
The SXSW community has proven to be a strong and durable resource for me. Participating and speaking at SXSW brought a group of people into my life that have continued to inspire and encourage me.
Please Note: If you would like to see John McElhenney's presentation on social media topics please go to AEN Courses.
Where are you from originally?
Austin, Texas - "native"
What university did you go to?
UT
What brought you to Austin?
Mom and Dad.
What is your passion and strength?
I enjoy rallying teams and seeing new ideas built to completion. New technologies and social media sites have to enhance our abilities to do our jobs rather than waste time. Figuring out how to engage and not get lost is a plan I am constantly building and refining.
What need does it fulfill?
Establishing a social media plan for business development and growth. Using ideas learned within big companies can help smaller companies level the playing field. It's all about responding to the needs of your customers.
What exactly do you bring to startups?
With a passion to communicate and a deep understanding of technology and social media networks, I work with companies wanting to set up and work the web for customer engagement and lead generation.
What was the most challenging aspect of starting up a business?
Continuing to focus on what drives revenue. It is easy to get distracted by all of the opportunities to get involved, but staying focused on your long term objectives is critical to not being sidetracked by all the shiny objects that can be labeled social media.
What advice do you have for entrepreneurs?
Going out into social media with no plan CAN hurt your business. The goal of any social media system is to be responsive and flexible in communicating with customers, potential customers, media and vendors.
What Austin-based resource have you found to be the most helpful and why?
The SXSW community has proven to be a strong and durable resource for me. Participating and speaking at SXSW brought a group of people into my life that have continued to inspire and encourage me.
Please Note: If you would like to see John McElhenney's presentation on social media topics please go to AEN Courses.
Monday, August 31, 2009
Gerry Cullen of PR Engines Talks about His Startup
Gerry Cullen of PR Engines Talks about His Startup
Where are you from originally? Buffalo, New York
What university did you go to?
Colorado State University, BS Physics and Math, and University of Colorado, Electrical Engineering
What brought you to Austin?
I joined an Austin-based commercial lighting control manufacturer, MyTech, which was losing money and had a tired product line. After three years we had redesigned the product line, tripled revenue and achieved profitability. We sold the company to Hubbell Electric. I decided I liked Austin enough to stay here.
What is the idea behind your startup?
Many companies generate sales from search engine results. Our goal was to make an inexpensive, easy to implement software product that demonstrably improved page rank on search engines.
What need does it fulfill?
Users get two benefits: a higher search engine ranking, and a more interesting website. Tests have shown that the typical page ranking in Google improves by at least twelve which means a full page improvement in search engine placement.
What exactly does your product do?
The NewsBox makes a scrolling box of news story titles appear on a web page. The news stories are all keyword related to the customer's business. The news stories are hand-picked by company-knowledgeable editors. This creates changing content which is one of the four main ways to attract search engines.
Who is it for?
Primarily for companies who attract customers through web searches.
What was the most challenging aspect of starting up a business?
Making sure the product could be sold before investing in software development. We learned a lot about competition while making test sales calls. We made a dozen sales calls before developing any software.
What is the next step for you and your startup?
We are now in the process of making 100+ sales calls to make sure we can sell the product as it exists today, that is, without further software enhancements. Our first market will be small law practices.
What advice do you have for entrepreneurs?
Make sure you can sell the product before making the product. Get prospects to promise to buy one at a deeply reduced price before ever starting work. Most folks will tell you that your idea is wonderful but few will actually write a speculative purchase order.
What Austin-based resource have you found to be the most helpful and why? I have not used any resource so far. The Austin Entrepreneur Network looks like a great asset.
Best regards,
Hall T.
Where are you from originally? Buffalo, New York
What university did you go to?
Colorado State University, BS Physics and Math, and University of Colorado, Electrical Engineering
What brought you to Austin?
I joined an Austin-based commercial lighting control manufacturer, MyTech, which was losing money and had a tired product line. After three years we had redesigned the product line, tripled revenue and achieved profitability. We sold the company to Hubbell Electric. I decided I liked Austin enough to stay here.
What is the idea behind your startup?
Many companies generate sales from search engine results. Our goal was to make an inexpensive, easy to implement software product that demonstrably improved page rank on search engines.
What need does it fulfill?
Users get two benefits: a higher search engine ranking, and a more interesting website. Tests have shown that the typical page ranking in Google improves by at least twelve which means a full page improvement in search engine placement.
What exactly does your product do?
The NewsBox makes a scrolling box of news story titles appear on a web page. The news stories are all keyword related to the customer's business. The news stories are hand-picked by company-knowledgeable editors. This creates changing content which is one of the four main ways to attract search engines.
Who is it for?
Primarily for companies who attract customers through web searches.
What was the most challenging aspect of starting up a business?
Making sure the product could be sold before investing in software development. We learned a lot about competition while making test sales calls. We made a dozen sales calls before developing any software.
What is the next step for you and your startup?
We are now in the process of making 100+ sales calls to make sure we can sell the product as it exists today, that is, without further software enhancements. Our first market will be small law practices.
What advice do you have for entrepreneurs?
Make sure you can sell the product before making the product. Get prospects to promise to buy one at a deeply reduced price before ever starting work. Most folks will tell you that your idea is wonderful but few will actually write a speculative purchase order.
What Austin-based resource have you found to be the most helpful and why? I have not used any resource so far. The Austin Entrepreneur Network looks like a great asset.
Best regards,
Hall T.
Thursday, August 27, 2009
First Look Forum -- Mentorship for Startups
I often see startups seeking funding prematurely. They lack market validation, product validation, and/or a solid management team. Many times these startups engage investors only to find out that their business has too many holes to fund at this time. To solve this problem, the Austin Entrepreneur Network created the AEN First Look Forum which is an event that gives entrepreneurs the opportunity to give their fastpitch to a group of mentors and then meet those mentors in a one-on-one "speed dating" exercise to gain feedback on their business and potentially line up a mentor.
AEN ran its initial First Look Forum last Wednesday with several startups from the Austin on Rails group. We lined up the entrepreneurs in a row and gave each one sixty seconds to pitch their company. We then lined up the thirteen mentors and had each one give a sixty-second pitch on their background and experiences. Afterwards we assigned each entrepreneur to a table and had the mentors rotate through to meet each entrepreneur.
Five minutes doesn't sound like much time and it isn't. It's just enough time to decide if there's a reason to followup afterwards for a coffee and explore the potential of bringing the mentor on-board as an advisor or to gain general coaching.
The short time frame means there's little time for pleasantries (how are you doing today?, etc).
In talking with the entrepreneurs afterwards the key lesson learned is that the entrepreneur needs to know in advance what help is needed and to ask questions in that direction. Tangential questions can quickly burn up your five minute window so you need to say on topic.
To join the program, each entrepreneur filled out a one-page application. In some cases, the entrepreneur left key information blank such as revenues. I encouraged each one to not leave blanks on the form and if the information is confidential to indicate so. A blank indicates to the reader that the startup doesn't have anything in that category.
If you're an entrepreneur or a mentor, we welcome your application to join us in a future First Look Forum. Please email me at director (AT) austinentrepreneurnetwork (DOT) org and I'll send you the application form.
Best regards,
Hall T.
AEN ran its initial First Look Forum last Wednesday with several startups from the Austin on Rails group. We lined up the entrepreneurs in a row and gave each one sixty seconds to pitch their company. We then lined up the thirteen mentors and had each one give a sixty-second pitch on their background and experiences. Afterwards we assigned each entrepreneur to a table and had the mentors rotate through to meet each entrepreneur.
Five minutes doesn't sound like much time and it isn't. It's just enough time to decide if there's a reason to followup afterwards for a coffee and explore the potential of bringing the mentor on-board as an advisor or to gain general coaching.
The short time frame means there's little time for pleasantries (how are you doing today?, etc).
In talking with the entrepreneurs afterwards the key lesson learned is that the entrepreneur needs to know in advance what help is needed and to ask questions in that direction. Tangential questions can quickly burn up your five minute window so you need to say on topic.
To join the program, each entrepreneur filled out a one-page application. In some cases, the entrepreneur left key information blank such as revenues. I encouraged each one to not leave blanks on the form and if the information is confidential to indicate so. A blank indicates to the reader that the startup doesn't have anything in that category.
If you're an entrepreneur or a mentor, we welcome your application to join us in a future First Look Forum. Please email me at director (AT) austinentrepreneurnetwork (DOT) org and I'll send you the application form.
Best regards,
Hall T.
Wednesday, August 12, 2009
Rick Winters Talks about His Startup and Business Experience
Where are you from originally?
I was born in NE Kansas. I was a Farm boy before I moved to San Antonio when I started high school.
What university did you go to?
I went to UT where I received a BS-ASE and MBA.
What brought you to Austin?
UT and the Austin environment/lifestyle brought me here.
What is your passion and strength?
The challenge of taking a company from an idea to a viable commercial company and all of the stages, steps and resistances encountered along the way. I am a generalist by nature with a strong curiosity to learn new things and apply that broad knowledge and experience to solving the problems of growth and change. My specific skills are in finance/accounting, management information systems and manufacturing operations/ lean manufacturing.
What need does it fulfill?
I find statisfaction in achievement and the pride of being associated with an exciting product or service.
What exactly do you bring to startups?
Broad experience in multiple industries. In both high growth as well as turnaround/change environments. My total systems orientation lets me see the big picture of a company’s markets, management, operations and financial stability and put strategies and tactics in place to address the issues.
What type of startup would benefit from your strengths?
Ones that complement or relate to real estate, manufacturing (electronic and aerospace), and oil & gas.
What was the most challenging aspect of starting up a business?
Clearly and succinctly identifying the value proposition and getting a team identified and committed that has the demonstrated skills and expertise to help ensure success. With those elements in place it is easier to get and receive help and to show investors your path to success.
What advice do you have for entrepreneurs?
Don’t give up, keep refining and honing your idea, build your team, get all the help you can from as many sources as you can. There are many groups in Austin and on the internet to research.
What Austin-based resource have you found to be the most helpful and why?
I don’t have one best. There are many networking and entrepreneurial organizations in Austin. There is one for almost any type of company and stage of development from idea to seed round funding to B round, etc. The more networking one does the better the focus becomes on what groups or individuals can be most beneficial to their specific needs.
Best regards,
Hall T.
I was born in NE Kansas. I was a Farm boy before I moved to San Antonio when I started high school.
What university did you go to?
I went to UT where I received a BS-ASE and MBA.
What brought you to Austin?
UT and the Austin environment/lifestyle brought me here.
What is your passion and strength?
The challenge of taking a company from an idea to a viable commercial company and all of the stages, steps and resistances encountered along the way. I am a generalist by nature with a strong curiosity to learn new things and apply that broad knowledge and experience to solving the problems of growth and change. My specific skills are in finance/accounting, management information systems and manufacturing operations/ lean manufacturing.
What need does it fulfill?
I find statisfaction in achievement and the pride of being associated with an exciting product or service.
What exactly do you bring to startups?
Broad experience in multiple industries. In both high growth as well as turnaround/change environments. My total systems orientation lets me see the big picture of a company’s markets, management, operations and financial stability and put strategies and tactics in place to address the issues.
What type of startup would benefit from your strengths?
Ones that complement or relate to real estate, manufacturing (electronic and aerospace), and oil & gas.
What was the most challenging aspect of starting up a business?
Clearly and succinctly identifying the value proposition and getting a team identified and committed that has the demonstrated skills and expertise to help ensure success. With those elements in place it is easier to get and receive help and to show investors your path to success.
What advice do you have for entrepreneurs?
Don’t give up, keep refining and honing your idea, build your team, get all the help you can from as many sources as you can. There are many groups in Austin and on the internet to research.
What Austin-based resource have you found to be the most helpful and why?
I don’t have one best. There are many networking and entrepreneurial organizations in Austin. There is one for almost any type of company and stage of development from idea to seed round funding to B round, etc. The more networking one does the better the focus becomes on what groups or individuals can be most beneficial to their specific needs.
Best regards,
Hall T.
Monday, August 10, 2009
JC Otero and Team Talk about the Austin Social Innovation Hub
JC Otero and Team Talk about the Austin Social Innovation Hub
Where are you from originally?
JC: San Antonio, Texas
Matt: Albuquerque, New Mexico
Martin: New Braunfels, Texas
James: Houston, Texas
What university did you go to?
JC: I graduated from St. Edwards University with a double major in Business
Administration and Management.
Matt: I have a B.S. in Psychology from the University of Texas at Austin, a M.A. in Psychology from the University of Pennsylvania, and a M.S. in Computer Information Systems from St. Edward's University.
Martin: First part Blinn Junior College in Bryan, then Concordia University
in Austin. Majored in management and human resources with many classes in
entrepreneurship and social work.
James: I was a triple major/quadruple minor at the University of Texas at
Austin. Hook 'em!
What brought you to Austin?
JC: I feel that destiny brought me here--perhaps with a little push from my
parents who commanded me to attend college in any city except for San
Antonio--and now that I'm here I can't see myself leaving anytime soon.
Matt: I came to Austin in 1998 to attend the University of Texas. I
originally majored in Electrical Engineering but after taking a year off and
some soul searching, I decided that I was more interested in studying human
cognition. After a brief stint in Philadelphia to get my Masters degree in
Psychology, I had trouble finding a job and decided to get back into
computer programming. A friend of mine encouraged me to apply to work at an
Austin start-up as a computer programmer...and I have been here ever since.
Martin: I was recruited to help with a national non-profit that catalyzes
college students to create social change. They had a presence here.
James: The University of Texas initially pulled me in; the eccentricity and
vibrancy kept me here.
What is the idea behind your startup?
Catalyzing the entrepreneurial community to develop innovative solutions
for social challenges is at the heart of what we do. We believe that anyone
can be a change agent--sometimes they just need a little help.
What need does it fulfill?
There are many people in Austin who have innovative solutions to the problems that plague our society. But what's lacking is a structured ecosystem that enables these great ideas to become real solutions. The Austin Social Innovation Hub is stimulating this ecosystem by making resources available to social innovators, providing the network that enables them to connect, educating the public and new social innovators, and doing the research and advocacy to support social innovation in Austin and beyond.
What exactly does your product do?*
Our purpose is to catalyze innovative solutions to social problems.
We have four offerings:
- *Incubation*: launch and accelerate innovative social enterprises from
idea to cash flow
- *Networking*: facilitate collaboration between social innovators and
social enterprises in Austin both online and face-to-face settings
- *Education*: educate individuals and enterprises on how to create
social impact
- *Research*: research and advocate for social innovation in Austin and
beyond
Specifically, we're creating physical hub for social innovation that serves as a co working and incubation space and a website that enhances collaboration among Austin’s key stakeholders and concentrates resources on promising social innovators and enterprises.
Who is it for?
Anyone interested in creating social impact.
The hub is meant to be highly inclusive; individuals of all backgrounds and
enterprises at all stages of development are invited to join the community. Our members and partners have diverse interests: creative capitalism, social
entrepreneurship, social business, corporate social responsibility, blended
value enterprise, double and triple bottom line accounting, microfinance, and sustainability, among others. But their unifying characteristic is their passion for social innovation, which has several definitions, but one is "an initiative, product or process which profoundly changes the basic routines, resource and authority flows or beliefs of any social system. Successful social innovations are therefore disruptive and have durability, impact and scale." [Frances Westley, University of Waterloo]
What was the most challenging aspect of starting up a business?
Everyone has great ideas but not everyone wants to do the work to make it a
reality. For us the most challenging aspect of getting starting has been
getting a committed team to work for sweat equity to actualize our long-term
vision. Considering that everyone involved is still working full-time jobs
or in other revenue generating ventures, it's been difficult to coordinate
schedules and hit some set goals. Fortunately, we're all bootstrappers and
we're comfortable making magic happen with the resources we do have.
What is the next step for you and your startup?
The next step is to solidify our business and organization model and begin
testing it in Austin. To do that, we need to continue to build our team and
secure initial funding. We expect to launch the incubator component in 2010.
What advice do you have for entrepreneurs?
Have faith in yourself, your skills, your strengths, and the possibilities
around you. If you are passionate about something stop talking about it and
do it! Beware of what the naysayers say; if you believe in it, then go for
it and don't give up. And, most importantly, don't underestimate the
willingness of others in your reach to help you with accomplishing your
goals.
What Austin-based resource have you found to be the most helpful and why?
The Austin entrepreneurial community as a whole has been absolutely amazing.
Their willingness to brainstorm with us, review our developing model, and
provide psychological support has been instrumental in moving us forward.
It's incredible what you can accomplish when you align with a group of
dedicated individuals towards a shared, powerful goal. And what better place
to be for socially-minded innovation and entrepreneurship than in Austin,
Texas!
Best regards,
Hall T.
Where are you from originally?
JC: San Antonio, Texas
Matt: Albuquerque, New Mexico
Martin: New Braunfels, Texas
James: Houston, Texas
What university did you go to?
JC: I graduated from St. Edwards University with a double major in Business
Administration and Management.
Matt: I have a B.S. in Psychology from the University of Texas at Austin, a M.A. in Psychology from the University of Pennsylvania, and a M.S. in Computer Information Systems from St. Edward's University.
Martin: First part Blinn Junior College in Bryan, then Concordia University
in Austin. Majored in management and human resources with many classes in
entrepreneurship and social work.
James: I was a triple major/quadruple minor at the University of Texas at
Austin. Hook 'em!
What brought you to Austin?
JC: I feel that destiny brought me here--perhaps with a little push from my
parents who commanded me to attend college in any city except for San
Antonio--and now that I'm here I can't see myself leaving anytime soon.
Matt: I came to Austin in 1998 to attend the University of Texas. I
originally majored in Electrical Engineering but after taking a year off and
some soul searching, I decided that I was more interested in studying human
cognition. After a brief stint in Philadelphia to get my Masters degree in
Psychology, I had trouble finding a job and decided to get back into
computer programming. A friend of mine encouraged me to apply to work at an
Austin start-up as a computer programmer...and I have been here ever since.
Martin: I was recruited to help with a national non-profit that catalyzes
college students to create social change. They had a presence here.
James: The University of Texas initially pulled me in; the eccentricity and
vibrancy kept me here.
What is the idea behind your startup?
Catalyzing the entrepreneurial community to develop innovative solutions
for social challenges is at the heart of what we do. We believe that anyone
can be a change agent--sometimes they just need a little help.
What need does it fulfill?
There are many people in Austin who have innovative solutions to the problems that plague our society. But what's lacking is a structured ecosystem that enables these great ideas to become real solutions. The Austin Social Innovation Hub is stimulating this ecosystem by making resources available to social innovators, providing the network that enables them to connect, educating the public and new social innovators, and doing the research and advocacy to support social innovation in Austin and beyond.
What exactly does your product do?*
Our purpose is to catalyze innovative solutions to social problems.
We have four offerings:
- *Incubation*: launch and accelerate innovative social enterprises from
idea to cash flow
- *Networking*: facilitate collaboration between social innovators and
social enterprises in Austin both online and face-to-face settings
- *Education*: educate individuals and enterprises on how to create
social impact
- *Research*: research and advocate for social innovation in Austin and
beyond
Specifically, we're creating physical hub for social innovation that serves as a co working and incubation space and a website that enhances collaboration among Austin’s key stakeholders and concentrates resources on promising social innovators and enterprises.
Who is it for?
Anyone interested in creating social impact.
The hub is meant to be highly inclusive; individuals of all backgrounds and
enterprises at all stages of development are invited to join the community. Our members and partners have diverse interests: creative capitalism, social
entrepreneurship, social business, corporate social responsibility, blended
value enterprise, double and triple bottom line accounting, microfinance, and sustainability, among others. But their unifying characteristic is their passion for social innovation, which has several definitions, but one is "an initiative, product or process which profoundly changes the basic routines, resource and authority flows or beliefs of any social system. Successful social innovations are therefore disruptive and have durability, impact and scale." [Frances Westley, University of Waterloo]
What was the most challenging aspect of starting up a business?
Everyone has great ideas but not everyone wants to do the work to make it a
reality. For us the most challenging aspect of getting starting has been
getting a committed team to work for sweat equity to actualize our long-term
vision. Considering that everyone involved is still working full-time jobs
or in other revenue generating ventures, it's been difficult to coordinate
schedules and hit some set goals. Fortunately, we're all bootstrappers and
we're comfortable making magic happen with the resources we do have.
What is the next step for you and your startup?
The next step is to solidify our business and organization model and begin
testing it in Austin. To do that, we need to continue to build our team and
secure initial funding. We expect to launch the incubator component in 2010.
What advice do you have for entrepreneurs?
Have faith in yourself, your skills, your strengths, and the possibilities
around you. If you are passionate about something stop talking about it and
do it! Beware of what the naysayers say; if you believe in it, then go for
it and don't give up. And, most importantly, don't underestimate the
willingness of others in your reach to help you with accomplishing your
goals.
What Austin-based resource have you found to be the most helpful and why?
The Austin entrepreneurial community as a whole has been absolutely amazing.
Their willingness to brainstorm with us, review our developing model, and
provide psychological support has been instrumental in moving us forward.
It's incredible what you can accomplish when you align with a group of
dedicated individuals towards a shared, powerful goal. And what better place
to be for socially-minded innovation and entrepreneurship than in Austin,
Texas!
Best regards,
Hall T.
Wednesday, August 5, 2009
Steve Barcik of FireFly LED Lighting Talks about His Startup
Steve Barcik of FireFly LED Lighting Talks about His Startup
Where are you from originally?
As a kid we moved all over the US, Canada, and even lived in Wales, in the UK. We moved three times while I was in the 8th grade, making me the new kid. This experience gave me three things; a desire put down roots, I have been in Austin since 1987, second, a true desire for new things and meeting new people, and finally the importance of friends and those relationships. My Family is from Virginia.
What brought you to Austin?
The tech environment and Texas Instruments. I was in Houston working in the Chemical Industry and wanted to do more engineering and be in a great town. TI hired me and some of my first projects there were in lighting and electrical power. TI was an amazing learning experience. I still maintain those friends from back then, what a great time.
What university did you go to?
Virginia Military Institute. I received my BSME there, and learned a lot about managing myself and others. VMI was a great experience and I credit the environment, professors, and my classmates with giving me an experience so unique and powerful.
What is the idea behind your startup?
The idea is implement a bunch of amazing ideas I and my partner have to deploy great LED technology to provide lighting for commercial, institutional and residential buildings. LED lighting uses 86% less energy and generates 86% less heat than incandescent lighting. A triple point of technology, awareness and need is occurring, and we have the ideas and the team to ride that wave. We are focused on ROI for the commercial, retail, and architectural segments. ROI is the home run for lighting now, as energy savings are so important.
Tell me more about your startup concept?
To make a difference for the environment and to impact the costs of doing business for companies and people using our products. Our start up uses a lean model, and applies resources directly to the problems, removing constraints others have placed on the problem or solution. Through clean sheet design, sub-contracting and utilizing the resources available in the USA, we are building a competitive and successful lighting company.
What exactly does your product do?
Our product directly replaces light bulbs and other lighting sources. The bulbs output the same or greater amounts of light and create the same look and feel. The bulbs last up to 25 times longer than incandescent and 2 to 5X longer than compact florescent bulbs. They are also resistant to vibration, cold, and are instant start. Our product also eliminates the mercury hazards of compact florescent bulbs.
Who is it for?
Anyone anywhere who uses any type of lighting. Imagine reducing the electrical lighting bill for your company or home by 86%, or your total electrical bill by 34% and getting a ROI in 4 months in some cases. It is also for the planet and our future, reducing energy usage is as equally important as creating green energy sources.
What was the most challenging aspect of starting up a business?
Selecting the next idea to pursue, we have several other ideas lined up, and this one is so right, putting other ideas and opportunities aside for now was the most difficult part.
What is the next step for you and your startup?
We are launching our first products, so to successfully complete engineering and move to the next design gate, with ease and grace. And of course to raise funds and partner with great investors who see the vision and goal.
What advice do you have for entrepreneurs?
Have a great time.
Choose quickly and move with purpose.
Grow yourself, in every way possible, mentally, spiritually, physically, emotionally, and relationally.
Best regards,
Hall T.
Where are you from originally?
As a kid we moved all over the US, Canada, and even lived in Wales, in the UK. We moved three times while I was in the 8th grade, making me the new kid. This experience gave me three things; a desire put down roots, I have been in Austin since 1987, second, a true desire for new things and meeting new people, and finally the importance of friends and those relationships. My Family is from Virginia.
What brought you to Austin?
The tech environment and Texas Instruments. I was in Houston working in the Chemical Industry and wanted to do more engineering and be in a great town. TI hired me and some of my first projects there were in lighting and electrical power. TI was an amazing learning experience. I still maintain those friends from back then, what a great time.
What university did you go to?
Virginia Military Institute. I received my BSME there, and learned a lot about managing myself and others. VMI was a great experience and I credit the environment, professors, and my classmates with giving me an experience so unique and powerful.
What is the idea behind your startup?
The idea is implement a bunch of amazing ideas I and my partner have to deploy great LED technology to provide lighting for commercial, institutional and residential buildings. LED lighting uses 86% less energy and generates 86% less heat than incandescent lighting. A triple point of technology, awareness and need is occurring, and we have the ideas and the team to ride that wave. We are focused on ROI for the commercial, retail, and architectural segments. ROI is the home run for lighting now, as energy savings are so important.
Tell me more about your startup concept?
To make a difference for the environment and to impact the costs of doing business for companies and people using our products. Our start up uses a lean model, and applies resources directly to the problems, removing constraints others have placed on the problem or solution. Through clean sheet design, sub-contracting and utilizing the resources available in the USA, we are building a competitive and successful lighting company.
What exactly does your product do?
Our product directly replaces light bulbs and other lighting sources. The bulbs output the same or greater amounts of light and create the same look and feel. The bulbs last up to 25 times longer than incandescent and 2 to 5X longer than compact florescent bulbs. They are also resistant to vibration, cold, and are instant start. Our product also eliminates the mercury hazards of compact florescent bulbs.
Who is it for?
Anyone anywhere who uses any type of lighting. Imagine reducing the electrical lighting bill for your company or home by 86%, or your total electrical bill by 34% and getting a ROI in 4 months in some cases. It is also for the planet and our future, reducing energy usage is as equally important as creating green energy sources.
What was the most challenging aspect of starting up a business?
Selecting the next idea to pursue, we have several other ideas lined up, and this one is so right, putting other ideas and opportunities aside for now was the most difficult part.
What is the next step for you and your startup?
We are launching our first products, so to successfully complete engineering and move to the next design gate, with ease and grace. And of course to raise funds and partner with great investors who see the vision and goal.
What advice do you have for entrepreneurs?
Have a great time.
Choose quickly and move with purpose.
Grow yourself, in every way possible, mentally, spiritually, physically, emotionally, and relationally.
Best regards,
Hall T.
Monday, August 3, 2009
Steven Dipasquale of Comerica Talks about Financing Startups
Steven Dipasquale of Comerica Talks about Financing Startups
Where are you from originally?
Houston
What university did you go to?
Texas A&M University. BBA in Finance.
What brought you to Austin?
I spent about 10 years in Atlanta and decided it was time to get back to Texas.
Austin of course was our first choice given the quality of life.
What is your passion and strength?
Not to sound contrived, but helping people - helping entrepreneurs succeed who are changing the way we live our lives.
What need does it fulfill?
Assisting entrepreneurs with big ideas as an advisor is very rewarding in itself.
What exactly do you bring to startups?
Finance background working with early stage and late stage tech and life science companies. Understand the various types of debt financing available throughout a company’s life cycle and thorough understanding of venture capital and private equity. Experience includes identifying new business opportunities, due diligence, market research, analytical capabilities and financial analysis, and contacts in the private equity and venture capital communities.
What type of startup would benefit from your strengths?
I believe I could add value across various industries and stages. My background working with startups has been broad.
What was the most challenging aspect of starting up a business?
My only direct experience has been working to grow tech practices at various institutions. I believe the biggest challenge is reminding the market that there are actually commercial banks that focus on working with early stage companies. Hiring the right team to deliver the message is key. (I don’t think you want to hear about my childhood lawn business or paper route…)
What advice do you have for entrepreneurs?
Like the question above, follow your passion enthusiastically.
What Austin-based resource have you found to be the most helpful and why?
ATI--the resources, events, etc.
Best regards,
Hall T.
Where are you from originally?
Houston
What university did you go to?
Texas A&M University. BBA in Finance.
What brought you to Austin?
I spent about 10 years in Atlanta and decided it was time to get back to Texas.
Austin of course was our first choice given the quality of life.
What is your passion and strength?
Not to sound contrived, but helping people - helping entrepreneurs succeed who are changing the way we live our lives.
What need does it fulfill?
Assisting entrepreneurs with big ideas as an advisor is very rewarding in itself.
What exactly do you bring to startups?
Finance background working with early stage and late stage tech and life science companies. Understand the various types of debt financing available throughout a company’s life cycle and thorough understanding of venture capital and private equity. Experience includes identifying new business opportunities, due diligence, market research, analytical capabilities and financial analysis, and contacts in the private equity and venture capital communities.
What type of startup would benefit from your strengths?
I believe I could add value across various industries and stages. My background working with startups has been broad.
What was the most challenging aspect of starting up a business?
My only direct experience has been working to grow tech practices at various institutions. I believe the biggest challenge is reminding the market that there are actually commercial banks that focus on working with early stage companies. Hiring the right team to deliver the message is key. (I don’t think you want to hear about my childhood lawn business or paper route…)
What advice do you have for entrepreneurs?
Like the question above, follow your passion enthusiastically.
What Austin-based resource have you found to be the most helpful and why?
ATI--the resources, events, etc.
Best regards,
Hall T.
Friday, July 31, 2009
The “Meet the Lender” Fair is Coming Next Week
The Small Business Development Program is quite active in Austin. They are hosting its annual "Meet the Lender" Business Loan Information Fair on August 6th, 2009. Meet the Lender is a free event and introduces business owners to business lenders face to face in an informal setting where they can gather information on lending programs.
This year's Meet the Lender event takes place at Palmer Events Center on
Aug. 6th from 3 to 7 p.m. and will feature more than 40 community lenders,
area banks, factoring firms and government loan programs including Greater
Texas Federal Credit Union, Business Community Lenders of Texas, and
OMNIBANK. They also offer their BizAid class at 3:30pm and 5:15pm.
I walked the show last year and found several city-sponsored programs available that I wasn’t aware of before. The SBA loan process has changed dramatically over the past year due to the economy and stimulus funding. In some cases the fees are reduced or waived altogether. If you are raising funding, you may want to check out this event.
Best regards,
Hall T.
This year's Meet the Lender event takes place at Palmer Events Center on
Aug. 6th from 3 to 7 p.m. and will feature more than 40 community lenders,
area banks, factoring firms and government loan programs including Greater
Texas Federal Credit Union, Business Community Lenders of Texas, and
OMNIBANK. They also offer their BizAid class at 3:30pm and 5:15pm.
I walked the show last year and found several city-sponsored programs available that I wasn’t aware of before. The SBA loan process has changed dramatically over the past year due to the economy and stimulus funding. In some cases the fees are reduced or waived altogether. If you are raising funding, you may want to check out this event.
Best regards,
Hall T.
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