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.
Wednesday, August 12, 2009
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.
Monday, July 20, 2009
Roy and Bertrand Sosa Talk about RISE Austin
Roy and Bertrand Sosa Talk about RISE Austin
Where are you from originally?
Roy and I are originally from Mexico. Austin became our home in 1986.
What university did you go to?
We both attended the University of Texas at Austin.
What brought you to Austin?
We moved to Austin with our mother who wanted to pursue a career as a doctor in the US.
What is the idea behind your group?
In 2006, my brother and I were approached by the Kauffman Foundation to lead an initiative for Austin as part of their founding of "Entrepreneurship Week USA." Our concept was to create a not-for-profit conference for and by entrepreneurs that would truly embody and celebrate Austin's entrepreneurial spirit. We modeled RISE on a format similar to SXSW in which multiple events would be held simultaneously at venues around Austin. In its third year, RISE - a Relationship & Information Series for Entrepreneurs - is an annual conference series dedicated to providing a free forum for entrepreneurs to connect and exchange ideas that inspire the entrepreneurial spirit.
What exactly does your group do?
For, by and about entrepreneurs, RISE takes place in concurrent sessions hosted by local entrepreneurs in venues around Greater Austin. Sessions are limited to 25 participants and there is no cost to host or attend sessions. RISE sessions are
independently organized and peer-led and represent a range of topics of interest to entrepreneurs of all sizes in all industries. In 2009, RISE offered related sessions organized into series including the Social Entrepreneurship series, the Hispanic Entrepreneurs series and the Austin Women Entrepreneurs series. Past RISE hosts include Roy Spence (GSD&M), John Mackey (Whole Foods Market), Jimmy Treybig (NEA), Philip Berber (A Glimmer of Hope Foundation), Clayton Christopher (Sweet Leaf Tea), Elizabeth Avellan (Troublemaker Studios), Jack McDonald (Perficient), and Ellen Wood (vCFO).
Who is it for?
Created and produced for entrepreneurs by entrepreneurs, the event attracts a
growing number of aspiring, new and established entrepreneurs in all industries each year. Over the past three years, RISE attendance has doubled annually and in 2009, we had over 1700 people join us for RISE sessions.
What is the next step for you and your group?
As the demand for RISE increases, we have been transforming from a single event into a year-round organization. In 2010, RISE anticipates offering quarterly networking and educational forums in addition to our annual March conference.
What advice do you have for entrepreneurs?
One of the keys to success in business is to find a partner. We're fortunate to be
brothers, but the key is to partner with someone who complements your strengths and weaknesses and to build a partnership based on trust and commitment. Just like dieting, climbing a mountain or achieving any goal, it's so much easier to sustain the momentum when you have a partner to support you. We would change our line of business before we changed partners.
Best regards,
Hall T.
Where are you from originally?
Roy and I are originally from Mexico. Austin became our home in 1986.
What university did you go to?
We both attended the University of Texas at Austin.
What brought you to Austin?
We moved to Austin with our mother who wanted to pursue a career as a doctor in the US.
What is the idea behind your group?
In 2006, my brother and I were approached by the Kauffman Foundation to lead an initiative for Austin as part of their founding of "Entrepreneurship Week USA." Our concept was to create a not-for-profit conference for and by entrepreneurs that would truly embody and celebrate Austin's entrepreneurial spirit. We modeled RISE on a format similar to SXSW in which multiple events would be held simultaneously at venues around Austin. In its third year, RISE - a Relationship & Information Series for Entrepreneurs - is an annual conference series dedicated to providing a free forum for entrepreneurs to connect and exchange ideas that inspire the entrepreneurial spirit.
What exactly does your group do?
For, by and about entrepreneurs, RISE takes place in concurrent sessions hosted by local entrepreneurs in venues around Greater Austin. Sessions are limited to 25 participants and there is no cost to host or attend sessions. RISE sessions are
independently organized and peer-led and represent a range of topics of interest to entrepreneurs of all sizes in all industries. In 2009, RISE offered related sessions organized into series including the Social Entrepreneurship series, the Hispanic Entrepreneurs series and the Austin Women Entrepreneurs series. Past RISE hosts include Roy Spence (GSD&M), John Mackey (Whole Foods Market), Jimmy Treybig (NEA), Philip Berber (A Glimmer of Hope Foundation), Clayton Christopher (Sweet Leaf Tea), Elizabeth Avellan (Troublemaker Studios), Jack McDonald (Perficient), and Ellen Wood (vCFO).
Who is it for?
Created and produced for entrepreneurs by entrepreneurs, the event attracts a
growing number of aspiring, new and established entrepreneurs in all industries each year. Over the past three years, RISE attendance has doubled annually and in 2009, we had over 1700 people join us for RISE sessions.
What is the next step for you and your group?
As the demand for RISE increases, we have been transforming from a single event into a year-round organization. In 2010, RISE anticipates offering quarterly networking and educational forums in addition to our annual March conference.
What advice do you have for entrepreneurs?
One of the keys to success in business is to find a partner. We're fortunate to be
brothers, but the key is to partner with someone who complements your strengths and weaknesses and to build a partnership based on trust and commitment. Just like dieting, climbing a mountain or achieving any goal, it's so much easier to sustain the momentum when you have a partner to support you. We would change our line of business before we changed partners.
Best regards,
Hall T.
Wednesday, July 15, 2009
New Austin Entrepreneur Network Website is now Live
The new Austin Entrepreneur Network website is now live. We started two years ago with a blog Angel Investing in Austin which will continue with funding information but we’ve now expanded it to include over 20 blogs from the Austin entrepreneur scene. In addition to funding the blogs cover topics such as sales, marketing, hiring, and more. Breaking news, social responsibility. gaming, mobile technology, web-based topics, and more can also be found.
All the blogs feed into the home page stream. For a selected view of the blogs you can select Entrepreneur Views, Web, Startup Stories, or other categorized views.
The calendar is not yet live but the goal is to highlight key events coming up but not every event going on in Austin as it can create information overload. Also, there’s a “Resource for Entrepreneurs” page which contains over 125 groups in Austin related to entrepreneurship and startups. Check out the site as you may find a new group you haven’t known before.
Finally, AEN offers mentorship in the form of classes, workshops, and courses. Check out the About page to find out about upcoming offerings.
AEN promotes networking, mentorship, and funding. If you know of a good Austin-based blog that you find helpful, please send it to me at
Director (at) austinentrepreneursnetwork DOT org
and we may post it on the feed. Also, if you know of any Austin-based resources not already listed on our resource page, I would also like to hear about it. Finally, I welcome your feedback on the design of the site.
Best regards,
Hall T.
All the blogs feed into the home page stream. For a selected view of the blogs you can select Entrepreneur Views, Web, Startup Stories, or other categorized views.
The calendar is not yet live but the goal is to highlight key events coming up but not every event going on in Austin as it can create information overload. Also, there’s a “Resource for Entrepreneurs” page which contains over 125 groups in Austin related to entrepreneurship and startups. Check out the site as you may find a new group you haven’t known before.
Finally, AEN offers mentorship in the form of classes, workshops, and courses. Check out the About page to find out about upcoming offerings.
AEN promotes networking, mentorship, and funding. If you know of a good Austin-based blog that you find helpful, please send it to me at
Director (at) austinentrepreneursnetwork DOT org
and we may post it on the feed. Also, if you know of any Austin-based resources not already listed on our resource page, I would also like to hear about it. Finally, I welcome your feedback on the design of the site.
Best regards,
Hall T.
Monday, July 13, 2009
Damon Borich of Reveal Sciences Talks about His Startup
Damon Borich of Reveal Sciences Talks about His Startup
Where are you from originally?
I grew up right in the heart of Austin. Both of my parents were teachers and I was lucky to spend my summers riding the Hike and Bike Trail, going to Barton Springs, and enjoying the lakes and parks around Austin with my family. In fact, I live in the same neighborhood where I grew up, Travis Heights, and still remember the days when I mowed lawns around the area. It’s rare for a week to pass when I don’t bump into an old childhood buddy or someone who my parents taught in class.
What university did you go to?
Because my Dad was a professor at UT, I grew up with the notion that one could not attend any other University. I finished my studies at UT in 1995, followed byfour years in Houston at Baylor College of Medicine getting my Medical Doctorate. I finished my medical training with a residency at a trauma hospital in Georgia and came back to Austin during the tech-boom in 2000.
What brought you to Austin?
I came back to Austin originally to work with Labnetics, a start-up company that had just licensed technology from UT for medical diagnostics. I served as the Chief Medical Officer for two years and then ventured out to start my own company, Detekt Biomedical in 2003. Coming back to Austin was a simple decision for me- great town, lots of family, and a unique spirit that has always been a perfect fit for me.
What is the idea behind your startup?
Our company, Reveal Sciences, is really a perfect blend between medical diagnostics and the growing industry of Aesthetic medicine. In essence- we have created a product that allows skin-care professionals, dermatologists, and plastic surgeons to scientifically determine the unique skin-care needs of their clients and patients. Our system saves time and money for both parties, enhances their business, and provides their practice with a competitive edge via real science and medical-grade technology. Visit us at www.revealsciences.com
What need does it fulfill?
The cosmetics industry has made tremendous advances in the past decade particularly in terms of active ingredient development for the anti-ageing skincare market. The unaddressed issue is, however, that the consumer is inundated with unsubstantiated claims that force them to make uneducated guesses about which skincare and cosmeceutical products will work best for them. Our system scientifically analyzes consumers’ unique skin wellness attributes and matches them with the products and treatment regimens tailored to their needs.
What exactly does your product do?
Our product consists of a small, sleek, handheld optical imaging instrument that analyzes disposable skin sampling strips. The sampling strips are applied to various regions of a client’s facial skin and removed and placed in to the analyzer. In essence, we are able to non-invasively and painlessly remove the superficial surface layer of the skin and determine a variety of skin-wellness parameters such as hydration level, moisture retention ability, elasticity, consistency, sensitivity, wrinkles and fine lines, and pore size and oil production. Our first generation device is intended to be used by licensed skincare professionals, however, our next generation device runs on a mobile platform like the iPhone. A quick visit to www.mycaretype.com will allow you to see the product in action.
Who is it for?
Ultimately our product is intended for everyone interested in the health and wellness of their skin. The consumer is the initial driving force behind this growing market, however, the system will be implemented in high-end spas and salons with licensed estheticians on staff to provide skincare consultations.
What was the most challenging aspect of starting up a business?
Having been involved in a few start-ups, both successful and not, I have to say that this has been the smoothest. A lot of that is due to the intellectual and structural support initially provided by Emergent Technologies, a local VC firm here in Austin. All of the typical concerns and management issues associated with a start-up have really been alleviated by the management support from ETI- this allows me and my team to focus on product development, innovation, and sales.
What is the next step for you and your startup?
We are launching our CareType™ Analysis System this summer- primarily targeting Estheticians and MedSpas. We plan to bring the technology to the consumer later this year in the form of a mobile hardware and software application for platforms such as the iPhone and other consumer devices. The concept here is that consumers will be able to track and monitor their esthetic well-being at home and be able to independently optimize their skin-wellness regimen.
What advice do you have for entrepreneurs?
There are many different ways to go about it, but what has worked for me is to take my idea as far as I can towards a sellable product or service. If you truly have a novel idea then there should be a partner out there who could be an early adopter and could fund the development and perhaps be the first customer. What worked back in 2000 won’t necessarily work today- hone your idea, make a prototype or product, and find your customers first.
What Austin-based resource have you found to be the most helpful and why?
The University of Texas is an incredible resource that we Austinites are tremendously fortunate to have at our fingertips. Starting with the library system and research facilities and complimented by the overwhelming number of young and highly talented students and graduates looking to get involved in something cutting-edge and fresh. Our company constantly taps this resource for hiring interns and recent graduates. Attend the free seminars, bounce your idea off of some of the leaders in the field who happen to be right in your backyard.
Best regards,
Hall T.
Where are you from originally?
I grew up right in the heart of Austin. Both of my parents were teachers and I was lucky to spend my summers riding the Hike and Bike Trail, going to Barton Springs, and enjoying the lakes and parks around Austin with my family. In fact, I live in the same neighborhood where I grew up, Travis Heights, and still remember the days when I mowed lawns around the area. It’s rare for a week to pass when I don’t bump into an old childhood buddy or someone who my parents taught in class.
What university did you go to?
Because my Dad was a professor at UT, I grew up with the notion that one could not attend any other University. I finished my studies at UT in 1995, followed byfour years in Houston at Baylor College of Medicine getting my Medical Doctorate. I finished my medical training with a residency at a trauma hospital in Georgia and came back to Austin during the tech-boom in 2000.
What brought you to Austin?
I came back to Austin originally to work with Labnetics, a start-up company that had just licensed technology from UT for medical diagnostics. I served as the Chief Medical Officer for two years and then ventured out to start my own company, Detekt Biomedical in 2003. Coming back to Austin was a simple decision for me- great town, lots of family, and a unique spirit that has always been a perfect fit for me.
What is the idea behind your startup?
Our company, Reveal Sciences, is really a perfect blend between medical diagnostics and the growing industry of Aesthetic medicine. In essence- we have created a product that allows skin-care professionals, dermatologists, and plastic surgeons to scientifically determine the unique skin-care needs of their clients and patients. Our system saves time and money for both parties, enhances their business, and provides their practice with a competitive edge via real science and medical-grade technology. Visit us at www.revealsciences.com
What need does it fulfill?
The cosmetics industry has made tremendous advances in the past decade particularly in terms of active ingredient development for the anti-ageing skincare market. The unaddressed issue is, however, that the consumer is inundated with unsubstantiated claims that force them to make uneducated guesses about which skincare and cosmeceutical products will work best for them. Our system scientifically analyzes consumers’ unique skin wellness attributes and matches them with the products and treatment regimens tailored to their needs.
What exactly does your product do?
Our product consists of a small, sleek, handheld optical imaging instrument that analyzes disposable skin sampling strips. The sampling strips are applied to various regions of a client’s facial skin and removed and placed in to the analyzer. In essence, we are able to non-invasively and painlessly remove the superficial surface layer of the skin and determine a variety of skin-wellness parameters such as hydration level, moisture retention ability, elasticity, consistency, sensitivity, wrinkles and fine lines, and pore size and oil production. Our first generation device is intended to be used by licensed skincare professionals, however, our next generation device runs on a mobile platform like the iPhone. A quick visit to www.mycaretype.com will allow you to see the product in action.
Who is it for?
Ultimately our product is intended for everyone interested in the health and wellness of their skin. The consumer is the initial driving force behind this growing market, however, the system will be implemented in high-end spas and salons with licensed estheticians on staff to provide skincare consultations.
What was the most challenging aspect of starting up a business?
Having been involved in a few start-ups, both successful and not, I have to say that this has been the smoothest. A lot of that is due to the intellectual and structural support initially provided by Emergent Technologies, a local VC firm here in Austin. All of the typical concerns and management issues associated with a start-up have really been alleviated by the management support from ETI- this allows me and my team to focus on product development, innovation, and sales.
What is the next step for you and your startup?
We are launching our CareType™ Analysis System this summer- primarily targeting Estheticians and MedSpas. We plan to bring the technology to the consumer later this year in the form of a mobile hardware and software application for platforms such as the iPhone and other consumer devices. The concept here is that consumers will be able to track and monitor their esthetic well-being at home and be able to independently optimize their skin-wellness regimen.
What advice do you have for entrepreneurs?
There are many different ways to go about it, but what has worked for me is to take my idea as far as I can towards a sellable product or service. If you truly have a novel idea then there should be a partner out there who could be an early adopter and could fund the development and perhaps be the first customer. What worked back in 2000 won’t necessarily work today- hone your idea, make a prototype or product, and find your customers first.
What Austin-based resource have you found to be the most helpful and why?
The University of Texas is an incredible resource that we Austinites are tremendously fortunate to have at our fingertips. Starting with the library system and research facilities and complimented by the overwhelming number of young and highly talented students and graduates looking to get involved in something cutting-edge and fresh. Our company constantly taps this resource for hiring interns and recent graduates. Attend the free seminars, bounce your idea off of some of the leaders in the field who happen to be right in your backyard.
Best regards,
Hall T.
Wednesday, July 8, 2009
Laura Sandefer of Acton Talks about Acton Academy
Laura Sandefer of Acton Talks about Acton Academy
Where are you from originally?
I was born in Sacramento, California and grew up in Tacoma, Washington; Cresskill, New Jersey and Oklahoma City, Oklahoma.
What university did you go to?
I received my BA from Vanderbilt University and my MEd. from Peabody College.
What brought you to Austin?
Love brought me to Austin! I moved here to marry Jeff.
What is the idea behind your group?
The idea behind Acton Academy is to create a new model for educating children that combines the classic ideals of mentoring and apprenticeship with an injection of the evolving sim game technology (see Acton Sim games at http://www.actonsims.com) and an undergirding of Montessori methodology. The purpose of it all is to inspire the innate human quest for discovery and meaning in both the children who participate and their parents. More simply put, we will be a community of lifelong learners.
What need does it fulfill?
Acton Academy fulfills the need to unleash the infinite possibilities of our children and get them off an assembly-line approach to education.
What exactly does your group do?
We teach and inspire children and families; and we write curriculum that is innovative, tested and effective.
Who is it for?
We are starting with children ages 4-9 but ultimately will expand up through high school following a plan of slow growth.
What was the most challenging aspect of starting up the group?
The biggest challenge we have faced and will continue to face is the creation of an economic model for a school. It is a massive challenge to keep the cost to attend at the lower end of the private tuition range here in Austin while ensuring that we will break even. We are committed not to ever depend on government funding or private donations. We want to create this so that others can establish a school, use our curriculum and survive financially.
What is the next step for you and your group?
Our next step is to buy furniture and classroom materials.
What advice do you have for entrepreneurs?
Be courageous. Jumping into something completely new is scary and there are so many arguments against going against the cultural norm. It is easier to be comfortable and go with the flow. Or to let other people solve the problems of the world. But good ideas carried out with love and lots of sweat are what make the world go ‘round.
Best regards,
Hall T.
Where are you from originally?
I was born in Sacramento, California and grew up in Tacoma, Washington; Cresskill, New Jersey and Oklahoma City, Oklahoma.
What university did you go to?
I received my BA from Vanderbilt University and my MEd. from Peabody College.
What brought you to Austin?
Love brought me to Austin! I moved here to marry Jeff.
What is the idea behind your group?
The idea behind Acton Academy is to create a new model for educating children that combines the classic ideals of mentoring and apprenticeship with an injection of the evolving sim game technology (see Acton Sim games at http://www.actonsims.com) and an undergirding of Montessori methodology. The purpose of it all is to inspire the innate human quest for discovery and meaning in both the children who participate and their parents. More simply put, we will be a community of lifelong learners.
What need does it fulfill?
Acton Academy fulfills the need to unleash the infinite possibilities of our children and get them off an assembly-line approach to education.
What exactly does your group do?
We teach and inspire children and families; and we write curriculum that is innovative, tested and effective.
Who is it for?
We are starting with children ages 4-9 but ultimately will expand up through high school following a plan of slow growth.
What was the most challenging aspect of starting up the group?
The biggest challenge we have faced and will continue to face is the creation of an economic model for a school. It is a massive challenge to keep the cost to attend at the lower end of the private tuition range here in Austin while ensuring that we will break even. We are committed not to ever depend on government funding or private donations. We want to create this so that others can establish a school, use our curriculum and survive financially.
What is the next step for you and your group?
Our next step is to buy furniture and classroom materials.
What advice do you have for entrepreneurs?
Be courageous. Jumping into something completely new is scary and there are so many arguments against going against the cultural norm. It is easier to be comfortable and go with the flow. Or to let other people solve the problems of the world. But good ideas carried out with love and lots of sweat are what make the world go ‘round.
Best regards,
Hall T.
Monday, July 6, 2009
The Ten Outcomes of an Angel Investment by John Huston
One of my favorite podcasts is the Frank Peters Show. In a recent interview with John Huston who is the current President of the Angel Capital Association, he outlines the ten possible outcomes of an angel investment. I list them below here but recommend you listen to the podcast or read the full text here.
1)“Grand Slam Homerun” -- Exceeds a 10X in five years (>58% IRR)
2)“A Lucrative Exit” -- <58 10x="" 1="" a="" at="" br="" but="" irr="" least="" return="">
3)The “Harry Houdini” -- Escaped with a 1X return; No loss
4)“Lost a Little” -- Didn’t lose it all (<1x 0x="" a="" br="" but="" not="">
5)“My Grandkids’ Company” -- Company is successful but there’s no exit in sight. Maybe it will occur after my grandchildren inherit the portfolio?
6)The “Zombie” -- A walking dead venture which will never become a great company, nor will it die so I can declare the loss.
7)“Deductible Loss” -- It died without a tail and I got to declare the loss (or sold my shares for $1.00 to record the loss)
8)“Funeral Expenses” -- Not only did I lose all my original investment, I had to also cover the costs of winding down the venture, plus pay accountants to provide the final accounting needed so I could take my tax deduction.
9)“The Worst Gets Worse” -- “The loss that keeps on losing” due to ongoing litigation expenses even after the company has no value.
10)“Angel Hell” -- In addition to losing all my investment plus a considerable amount of my time, media coverage, tarnished my reputation, plus damaged my relationship with co-investors.
John mentioned that loss of the investment dollars in a deal is the least worry. He cites loss of c0-investor relationship, tarnished reputation, and loss of time as even bigger concerns in a losing venture.
Best regards,
Hall T.
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