One of my favorite entrepreneur events of the year is the Idea 2 Product Competition held at UT. The I2P® Global Competition is an early-stage technology commercialization plan competition hosted by the Murchison Chair of Free Enterprise at The University of Texas at Austin. The I2P® competition focuses on the education and creation of the next generation of technology entrepreneurs. Teams benefit from valuable feedback from the entrepreneurs, venture capitalists, engineers, and intellectual property attorneys on the judging panels. Previous teams have produced work that has increased research funding, licensing of technology, and creation of new ventures. The competition has also served as a commercialization forum for faculty and members of the community. Faculty have been able to consider societal needs of technology and members of the community have been given an early preview of cutting-edge technology.
Fifteen invited university teams, representing four continents and eight countries, will descend upon Austin on October 30-31st for the 7th Annual Idea to Product Global Competition. The teams will present their breakthrough technology commercialization plans and compete for over $52,500 in cash prizes that may be used to advance their innovations, as well as a chance to enter the Global MOOTCORP® competition. Each year, the competition draws a large audience from Austin’s technology and entrepreneurial community. The event is in the AT&T Conference Center.
The competition will debut three themed championship tracks and a technology showcase where you can see the teams’ innovative technologies. Which technologies will become the next cure for cancer? Which technologies have a potential to revolutionize the battery technology? What technology will answer the world’s changing energy demands? What technology will drastically improve quality of life for less-privileged communities around the world?
The event is free and open to public.
What? 7th Annual Idea to Product® Global Competition
Where? AT&T Executive Education and Conference Center
When? Friday, October 30th
9:00am-12:00pm Feedback Rounds (Classrooms 201, 202, 203)
Saturday, October 31st
9:00am-12:00pm Ted Roden Championship Rounds (201, 202, 203)
1:15pm-2:30pm Technology Showcase (Covered Courtyard)
2:30pm-3:00pm Ted Roden Awards Ceremony (Amphitheater 204)
Why? To see the next generation of technology innovations
Who? Free and open to public.
The Idea to Product® Global Competition is sponsored by the Cockrell School of Engineering, the College of Natural Sciences, several engineering departments, along with student organizations. Supporters of the event include the National Science Foundation, NCIIA, MOOT CORP, the Austin Technology Incubator, the Office of Technology Commercialization, Fish & Richardson, P.C., and the Herb Kelleher Center for Entrepreneurship.
Monday, November 2, 2009
Monday, October 26, 2009
Kevin Castello of the Baylor Angel Network Talks about Starting an Angel Group
Where are you from originally?
I have lived in Texas most of my life and in the Austin area since 1984.
What university did you go to?
My bachelor’s is from Austin Graduate School of Theology and I complete my MBA at Baylor in December.
What brought you to Austin?
I moved here with my parents in high school.
What is the idea behind your group?
Baylor Angel Network (BAN) is a university sponsored organization that provides the vehicle for Baylor Angels to be exposed to deal flow opportunities. BAN provides a synergistic link between successful alumni and current students who serve as interns. The internship program allows students to see business plans, screening processes, entrepreneurial presentations, due diligence, and fundings. In addition to the education value, each BAN member contributes a portion of their returns to the Hankamer School of Business.
What need does it fulfill?
BAN provides a mentoring relationship for students with successful alumni in the private equity investment arena. It also provides a process vehicle for a number of angels to evaluate projects together and then make individual investing decisions. This aggregation of experience and differing industry expertise allows the angels to better vet each opportunity and evaluate potential risk. BAN also provides a great potential funding source for entrepreneurs in an entrepreneur friendly setting.
What exactly does BAN do?
BAN connects entrepreneurs with angels while mentoring students.
Who is it for?
BAN serves the angels, entrepreneurs, students, and Baylor University Hankamer School of Business.
What was the most challenging aspect of starting up a group?
Understanding the paradox between simple and complex is the greatest challenge. The idea, business plan, and strategy need to be easy to understand while the information necessary to communicate, value, and fund the opportunity can be quite complex.
What is the next step for you and your group?
BAN is currently doing due diligence on two deals for potential funding this fall. We are also beginning the early review stages for deals that will be looked at in the spring of 2010.
What advice do you have for entrepreneurs?
BAN is an entrepreneurial friendly environment in which to get your plan reviewed. If you have a great plan then contact us to start the process.
What Austin-based resource have you found to be the most helpful and why?
We have a great working relationship with the Central Texas Angel Network (CTAN) and are currently working on a syndication deal with them.
Best regards,
Hall T.
I have lived in Texas most of my life and in the Austin area since 1984.
What university did you go to?
My bachelor’s is from Austin Graduate School of Theology and I complete my MBA at Baylor in December.
What brought you to Austin?
I moved here with my parents in high school.
What is the idea behind your group?
Baylor Angel Network (BAN) is a university sponsored organization that provides the vehicle for Baylor Angels to be exposed to deal flow opportunities. BAN provides a synergistic link between successful alumni and current students who serve as interns. The internship program allows students to see business plans, screening processes, entrepreneurial presentations, due diligence, and fundings. In addition to the education value, each BAN member contributes a portion of their returns to the Hankamer School of Business.
What need does it fulfill?
BAN provides a mentoring relationship for students with successful alumni in the private equity investment arena. It also provides a process vehicle for a number of angels to evaluate projects together and then make individual investing decisions. This aggregation of experience and differing industry expertise allows the angels to better vet each opportunity and evaluate potential risk. BAN also provides a great potential funding source for entrepreneurs in an entrepreneur friendly setting.
What exactly does BAN do?
BAN connects entrepreneurs with angels while mentoring students.
Who is it for?
BAN serves the angels, entrepreneurs, students, and Baylor University Hankamer School of Business.
What was the most challenging aspect of starting up a group?
Understanding the paradox between simple and complex is the greatest challenge. The idea, business plan, and strategy need to be easy to understand while the information necessary to communicate, value, and fund the opportunity can be quite complex.
What is the next step for you and your group?
BAN is currently doing due diligence on two deals for potential funding this fall. We are also beginning the early review stages for deals that will be looked at in the spring of 2010.
What advice do you have for entrepreneurs?
BAN is an entrepreneurial friendly environment in which to get your plan reviewed. If you have a great plan then contact us to start the process.
What Austin-based resource have you found to be the most helpful and why?
We have a great working relationship with the Central Texas Angel Network (CTAN) and are currently working on a syndication deal with them.
Best regards,
Hall T.
Monday, October 19, 2009
Dave Bartelli Talks about Central Texas IT Play Day
Tell me a little about the event you're hosting.
The event is called the "Central Texas IT Play Day." It is a fun, Texas-themed technology trade show for the business community to learn about current technology trends and solutions directly from the big vendors, such as Cisco, Citrix, VMware and HP. We'll have free Texas BBQ and live music from Austin artist Matt the Musician.
When and where is it?
The show is Thursday, October 15th at the Phillips Event Center in northeast Austin. People can drop by any time from 10am to 3pm. The agenda, map and other details are online at www.texasitplayday.com
Who is the target audience?
The event is designed for business people who make technology decisions - business owners, managers, and IT directors. Although exhibitors will have hands-on demos of their solutions, the event is not meant to be a technical training event. Instead, it is meant to help businesses understand some of the trends and solutions that might make their lives easier.
Why would a business owner want to attend a technology trade show?
With technology changing so fast, it is hard to keep up with what is truly useful, let alone what it all means. People hear about virtualization, cloud computing and managed services all the time, but not everyone knows what they are or in which scenarios they are best used. This event provides an opportunity to become more familiar with current technology options, which will help in making business plans and decisions.
What does the event cost?
The event is free, although pre-registration is required. Registration and details are at www.texasitplayday.com
Who will be exhibiting?
HP, Citrix, VMware, Cisco, Grande Communications, Zultys, TW Telecom, TBC International, Bandspeed, Fortinet, Cymphonix, Buffalo Technology, Microsoft and White Glove Technologies.
You'll have the chance to see Windows 7, the latest Microsoft operating system, live before it is officially released to stores on October 22nd.
The event is called the "Central Texas IT Play Day." It is a fun, Texas-themed technology trade show for the business community to learn about current technology trends and solutions directly from the big vendors, such as Cisco, Citrix, VMware and HP. We'll have free Texas BBQ and live music from Austin artist Matt the Musician.
When and where is it?
The show is Thursday, October 15th at the Phillips Event Center in northeast Austin. People can drop by any time from 10am to 3pm. The agenda, map and other details are online at www.texasitplayday.com
Who is the target audience?
The event is designed for business people who make technology decisions - business owners, managers, and IT directors. Although exhibitors will have hands-on demos of their solutions, the event is not meant to be a technical training event. Instead, it is meant to help businesses understand some of the trends and solutions that might make their lives easier.
Why would a business owner want to attend a technology trade show?
With technology changing so fast, it is hard to keep up with what is truly useful, let alone what it all means. People hear about virtualization, cloud computing and managed services all the time, but not everyone knows what they are or in which scenarios they are best used. This event provides an opportunity to become more familiar with current technology options, which will help in making business plans and decisions.
What does the event cost?
The event is free, although pre-registration is required. Registration and details are at www.texasitplayday.com
Who will be exhibiting?
HP, Citrix, VMware, Cisco, Grande Communications, Zultys, TW Telecom, TBC International, Bandspeed, Fortinet, Cymphonix, Buffalo Technology, Microsoft and White Glove Technologies.
You'll have the chance to see Windows 7, the latest Microsoft operating system, live before it is officially released to stores on October 22nd.
Monday, October 12, 2009
UT's Idea 2 Product Compeititon
Fifteen invited university teams, representing four continents and eight countries, will descend upon Austin on October 30-31st for the 7th Annual Idea to Product Global Competition. The teams will present their breakthrough technology commercialization plans and compete for over $52,500 in cash prizes that may be used to advance their innovations, as well as a chance to enter the Global MOOTCORP® competition. Each year, the competition draws a large audience from Austin’s technology and entrepreneurial community. The even is in the AT&T Conference Center.
The competition will debut three themed championship tracks and a technology showcase where you can see the teams’ innovative technologies. Which technologies will become the next cure for cancer? Which technologies have a potential to revolutionize the battery technology? What technology will answer the world’s changing energy demands? What technology will drastically improve quality of life for less-privileged communities around the world?
Come to I2P® Global and see. The event is free and open to public.
What? 7th Annual Idea to Product® Global Competition
Where? AT&T Executive Education and Conference Center
When? Friday, October 30th
9:00am-12:00pm Feedback Rounds (Classrooms 201, 202, 203)
Saturday, October 31st
9:00am-12:00pm Ted Roden Championship Rounds (201, 202, 203)
1:15pm-2:30pm Technology Showcase (Covered Courtyard)
2:30pm-3:00pm Ted Roden Awards Ceremony (Amphitheater 204)
Why? To see the next generation of technology innovations
Who? Free and open to public.
About the Idea to Product® Competition
The I2P® Global Competition is an early-stage technology commercialization plan competition hosted by the Murchison Chair of Free Enterprise at The University of Texas at Austin. The I2P® competition focuses on the education and creation of the next generation of technology entrepreneurs. Teams benefit from valuable feedback from the entrepreneurs, venture capitalists, engineers, and intellectual property attorneys on the judging panels. Previous teams have produced work that has increased research funding, licensing of technology, and creation of new ventures. The competition has also served as a commercialization forum for faculty and members of the community. Faculty have been able to consider societal needs of technology and members of the community have been given an early preview of cutting-edge technology.
The Idea to Product® Global Competition is sponsored by the Cockrell School of Engineering, the College of Natural Sciences, several engineering departments, along with student organizations. Supporters of the event include the National Science Foundation, NCIIA, MOOT CORP, the Austin Technology Incubator, the Office of Technology Commercialization, Fish & Richardson, P.C., and the Herb Kelleher Center for Entrepreneurship.
For more information about the I2P® Global Competition, the I2P® Program, and to see a live webcast of the competition, visit http://www.ideatoproduct.org/.
The competition will debut three themed championship tracks and a technology showcase where you can see the teams’ innovative technologies. Which technologies will become the next cure for cancer? Which technologies have a potential to revolutionize the battery technology? What technology will answer the world’s changing energy demands? What technology will drastically improve quality of life for less-privileged communities around the world?
Come to I2P® Global and see. The event is free and open to public.
What? 7th Annual Idea to Product® Global Competition
Where? AT&T Executive Education and Conference Center
When? Friday, October 30th
9:00am-12:00pm Feedback Rounds (Classrooms 201, 202, 203)
Saturday, October 31st
9:00am-12:00pm Ted Roden Championship Rounds (201, 202, 203)
1:15pm-2:30pm Technology Showcase (Covered Courtyard)
2:30pm-3:00pm Ted Roden Awards Ceremony (Amphitheater 204)
Why? To see the next generation of technology innovations
Who? Free and open to public.
About the Idea to Product® Competition
The I2P® Global Competition is an early-stage technology commercialization plan competition hosted by the Murchison Chair of Free Enterprise at The University of Texas at Austin. The I2P® competition focuses on the education and creation of the next generation of technology entrepreneurs. Teams benefit from valuable feedback from the entrepreneurs, venture capitalists, engineers, and intellectual property attorneys on the judging panels. Previous teams have produced work that has increased research funding, licensing of technology, and creation of new ventures. The competition has also served as a commercialization forum for faculty and members of the community. Faculty have been able to consider societal needs of technology and members of the community have been given an early preview of cutting-edge technology.
The Idea to Product® Global Competition is sponsored by the Cockrell School of Engineering, the College of Natural Sciences, several engineering departments, along with student organizations. Supporters of the event include the National Science Foundation, NCIIA, MOOT CORP, the Austin Technology Incubator, the Office of Technology Commercialization, Fish & Richardson, P.C., and the Herb Kelleher Center for Entrepreneurship.
For more information about the I2P® Global Competition, the I2P® Program, and to see a live webcast of the competition, visit http://www.ideatoproduct.org/.
Tuesday, October 6, 2009
Wendy Covey of Trew Marketing Talks About Her Startup
Wendy Covey of Trew Marketing Talks About Her Startup
Where are you from originally?
I am a native Texan, and have lived in many of the major cities in Texas. This illustrious list includes Houston, Dallas, Austin, College Station, and Dripping Springs. Ok, so a few are not in the majors quite yet.
What university did you go to?
Texas A&M University
What brought you to Austin?
Austin’s casual environment, natural beauty, and smaller-town feel were my initial attraction, not to mention good tex-mex. I was excited about the growing opportunities in the technology and entrepreneurial sector and where that might lead my career growth.
What is your passion and strength?
I have a deep appreciation for engineers and scientists and the creative innovations they develop that not only impact our lives but drive much of our economy. . My passion is to help them spread the word about their products and services in a clear and simple way.
What need does it fulfill?
My energy, resourcefulness, strong communication skills, and deep tech marketing experience make me a strong partner to the technical business executive or technical sales manager who often has completely different strengths. With a long history in event marketing – from traditional trade shows and conferences to webcasts– as well as a background in software services business leadership, I am able to work with them on a wide variety of critical marketing areas.
What exactly do you bring to startups?
I am co-founder of TREW Marketing. With our team of professionals, we offer comprehensive marketing services. For start-ups, we are often engaged as a Virtual Marketing Manager or for a specific need, such as message development, creative, website development, or media relations.
What type of startup would benefit from your strengths?
B2B technology companies, particularly those targeting technical audiences such as engineers and scientists, are the best fit for TREW Marketing. We also do much work in education.
What was the most challenging aspect of starting up a business?
My top two:
1. Determining a scalable pricing model
2. Figuring how to staff the business through the peaks and valleys of growth
What advice do you have for entrepreneurs?
Interview ten business owners. This was the best thing we did during our ideation phase. Some were in the same industry, and some were totally different, but all of the interviews helped us to gain clarity in how we wanted to operate, and avoid some of the trouble spots that others have gone through before us.
What Austin-based resource have you found to be the most helpful and why?
Leadership Austin – Through my business partner’s participation and board position, we’ve greatly expanded our network of diverse leaders in Austin.
AEN – This organization provides us with a broad view of the entrepreneurial community, including organizations and events. I enjoy expanding my horizons through the crazy blog posts too.
BIG Austin – Being a minority-owned business, we were able to use the resources of this nonprofit for our initial basic business questions. The staff was friendly, patient, and we saved ourselves the additional costs on attorney fees, which is always nice on a start-up budget.
RISE Austin – This incredibly helpful conference featured a broad range of interesting topics for entrepreneurs with quality, knowledgeable speakers. The event was an impressive feat for a free event, no doubt. I am very much looking forward to the next one.
--
Please note: Wendy Covey will be giving a Shortcourse. Please check out the schedule here.
Best regards,
Hall T.
Where are you from originally?
I am a native Texan, and have lived in many of the major cities in Texas. This illustrious list includes Houston, Dallas, Austin, College Station, and Dripping Springs. Ok, so a few are not in the majors quite yet.
What university did you go to?
Texas A&M University
What brought you to Austin?
Austin’s casual environment, natural beauty, and smaller-town feel were my initial attraction, not to mention good tex-mex. I was excited about the growing opportunities in the technology and entrepreneurial sector and where that might lead my career growth.
What is your passion and strength?
I have a deep appreciation for engineers and scientists and the creative innovations they develop that not only impact our lives but drive much of our economy. . My passion is to help them spread the word about their products and services in a clear and simple way.
What need does it fulfill?
My energy, resourcefulness, strong communication skills, and deep tech marketing experience make me a strong partner to the technical business executive or technical sales manager who often has completely different strengths. With a long history in event marketing – from traditional trade shows and conferences to webcasts– as well as a background in software services business leadership, I am able to work with them on a wide variety of critical marketing areas.
What exactly do you bring to startups?
I am co-founder of TREW Marketing. With our team of professionals, we offer comprehensive marketing services. For start-ups, we are often engaged as a Virtual Marketing Manager or for a specific need, such as message development, creative, website development, or media relations.
What type of startup would benefit from your strengths?
B2B technology companies, particularly those targeting technical audiences such as engineers and scientists, are the best fit for TREW Marketing. We also do much work in education.
What was the most challenging aspect of starting up a business?
My top two:
1. Determining a scalable pricing model
2. Figuring how to staff the business through the peaks and valleys of growth
What advice do you have for entrepreneurs?
Interview ten business owners. This was the best thing we did during our ideation phase. Some were in the same industry, and some were totally different, but all of the interviews helped us to gain clarity in how we wanted to operate, and avoid some of the trouble spots that others have gone through before us.
What Austin-based resource have you found to be the most helpful and why?
Leadership Austin – Through my business partner’s participation and board position, we’ve greatly expanded our network of diverse leaders in Austin.
AEN – This organization provides us with a broad view of the entrepreneurial community, including organizations and events. I enjoy expanding my horizons through the crazy blog posts too.
BIG Austin – Being a minority-owned business, we were able to use the resources of this nonprofit for our initial basic business questions. The staff was friendly, patient, and we saved ourselves the additional costs on attorney fees, which is always nice on a start-up budget.
RISE Austin – This incredibly helpful conference featured a broad range of interesting topics for entrepreneurs with quality, knowledgeable speakers. The event was an impressive feat for a free event, no doubt. I am very much looking forward to the next one.
--
Please note: Wendy Covey will be giving a Shortcourse. Please check out the schedule here.
Best regards,
Hall T.
Monday, September 28, 2009
Clare Nelson of Quaresso Talks about Her Startup Experience
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.
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 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.
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