Where are you from originally?
I am originally from Rochester, NY. I was born there and lived there through my undergraduate years. I spent a few years when I was a kid in Queens, NY.
What university did you go to?
I went to the University of Rochester and studied Optics at the Institute of Optics. I received my B.S. in optics in 1992. I went on to the University of Arizona afterward to get my Ph.D. in Optical Sciences. I finished in 1998 specializing in optical system design, fiber optics, and image processing with an emphasis on medical and biological imaging applications.
What brought you to Austin?
My decision to come to Austin was based on a number of personal and professional considerations. After graduate school, I started a company with two other students at the University of Arizona. In 2005, we were acquired by Roper Industries and at the end of 2005, I moved on to another medical imaging startup based in Silicon Valley. At the end of 2007, I decided to take some time off to re-energize. During this time, I met my fiancee who is from Austin. I think this was a sign, because I had been thinking about moving to Austin to explore new entrepreneurial possibilities here. We just moved here at the end of 2009 and I am starting to look for an opportunity with a local startup.
What is the idea behind your startup?
The idea behind this first startup was the development of spectral imaging systems for biological, medical and industrial imaging applications. Our products were intended to provide lower cost, more flexible solutions for customers who needed to analyze the spectral content of images for diagnostic or inspection tasks. We were very good at taking the idea of the spectrometer, combining it with an imaging system, and packaging it in a way that reduced the cost of access to the technology without sacrificing performance.
What need does it fulfill?
The products that we developed addressed the need for acquisition of images in different spectral bands simultaneously. Prior to the development of our product, most customers were forced to take images sequentially using a filter wheel or some other product that changed the spectral bands sequentially. However, for any real-time imaging applications where changes are occurring rapidly, a sequential imaging system is useless. With the advent of our spectral imaging products, the capability to simultaneously acquire two or four spectral images on a single digital camera was readily available as a standardized product line.
What exactly does your product do?
The product was a lens and filter system that attached to the front of a high-end digital (CCD-based) camera. For the two-band system, the product would optically divide the sensor of the camera into two sensors. So, an identical image is formed on each half of the sensor. For example, if the system was looking at someone's face, the sensor would show two faces, one on each half of the sensor. By creating two separate imaging channels, each channel can be individually filtered however the user desires. A similar product created four different imaging channels, one in each quadrant of the sensor. We also developed a software package with application-specific image processing algorithms that customers could use to process the acquired images.
Who is it for?
These products had applications in a number of areas. Our most significant market was in the biological imaging arena specifically for microscopy applications. University professors and research scientists used these products in the study of cell structure and function.
What was the most challenging aspect of starting up a business?
There are two aspects that I personally found most challenging. First, and this is not unique to us, there was the issue of cash flow. Cash flow management is very challenging during the initial years as you are trying to grow the company. I think we were very creative in how we financed the company in the beginning without having to get funding from VCs. The second challenge started once we entered the growth phase. When the growth really kicks in, it comes at you fast and finding the personnel to staff the growth was also very challenging. But, I think this challenge was a function of where we were located and the lack of a large pool of young talent.
What is the next step for you and your startup?
This startup is no longer an independent company. We were acquired a few years ago. So, I am looking for another startup to get involved with. Maybe it will be an existing startup or a new one.
What advice do you have for entrepreneurs?
I think that many entrepreneurs, especially tech entrepreneurs, get too caught up in the technology or product they have developed. It is really important to remember that the most important component of your business is the market you are trying to address, not your product. Without a market, your product or technology doesn't have any value. So, the first piece of advice would be to stay focused on your market.
The second piece of advice is to understand your competition very well. I have heard many entrepreneurs say that their technology is so great, they have no competition. I once heard an investor fire back that if you have no competition, then you have no market!
The last piece of advice is that perseverance is a critical factor. Starting and building a company is the hardest thing I have ever done. There were so many times when I was ready to give up because there was no money or too much stress or I was working 100 hour weeks. I just had to put my head down and keep working through all of these obstacles. It takes a lot out of you. But, it can be extremely rewarding also.
What Austin-based resource have you found to be the most helpful and why?
I am very new to Austin. So, I haven't had a chance to really explore the different resources based here. However, the one thing I have already noticed is that people in Austin are extremely friendly and approachable. This makes it very easy to network with other entrepreneurs to share ideas and uncover interesting opportunities.
Monday, January 18, 2010
Friday, January 15, 2010
Julie Niehoff of Constant Contact Talks about Her Business
Julie Niehoff of Constant Contact Talks about Her Business
Where are you from originally?
I am originally from Dallas, Texas.
What university did you go to?
UT Austin …hook ‘em
What brought you to Austin?
I have wanted to return since college and the city works well as a “hub” for my activities around this region of the country so I jumped at the chance to relocate.
What is your group’s mission?
Constant Contact is focused on helping small businesses and nonprofits grow by providing easy-to-use, affordable tools that help to level the playing field and allow these folks to compete across the board. Our products include email marketing, online survey and most recently event marketing tools. My role, specifically, is about education and networking. I do a lot of public speaking on technology marketing for small business and nonprofits and I facilitate workshops/seminars to that end around Texas.
What need does it fulfill?
Our products make it easy and affordable for our customers to stay in front of their customers or members, to put out professional, effective communications. We help them set the rhythm of their business relationships. For my part, I get to be a bridge between the technology that makes it all possible and the regular, normal people who don’t necessarily know the technology but clearly understand what it might be able to do for them – I get to watch that light bulb go on several times a week by teaching classes and speaking to conference groups – I consider myself very lucky to get to be a part of that process.
What exactly does it bring to startups?
The average return on email marketing is $87 per dollar spent. Our customers can use our tools for very little money – starts at $15/month. It’s hard to find any other marketing/communications avenue with a similar rate of return that you can jump into with so little capital. Our customers are sending email campaigns that look professional. They use our tools to set themselves up as the “go to” resource in their field and they can track what happens with those emails – who opened it, who clicked on what and when. This is not data you get from other types of marketing without spending a great deal more than $15. And we help them learn how to do it well with personal coaching and both live/online training as well. It’s a complete package.
What type of startup would benefit from your group?
I cannot think of a startup that would not benefit from use of our tools. Our tools adapt to the needs of the user – want to do a newsletter every month? You can. Want to survey your customers so that you can build your offering around their responses? You can. Thinking of a special offer or promotion? Trying to get the word out about your new business? Need to plan a board meeting and get everyone on the same page with the event info and let them register online. We make all of it easy. And affordable.
What advice do you have for entrepreneurs?
Test. Test. Test. I teach this in all of my classes. When you try something new – in terms of marketing. rather than using your entire contact list as a guinea pig trial, why not split your list into several groups and try the new idea on ten or twenty percent first. Then you know whether you want to go forward with the rest of the group and you eliminate the potential for mass second-thought.
What Austin-based resource have you found to be the most helpful and why?
Other than AEN? Right now, I am definitely in a honeymoon stage with the Austin Chamber. As a new member, I am very involved and am so pleased to see how focused they are on small business. I’m also very impressed by the City of Austin Small Business Development Program – this is an impressive group, dedicated to the needs and promotion of small business across the city. For the nonprofit sector, I’ve become very involved with Texas Association of Nonprofits and with NonprofitAustin.org – both of these groups are key influencers with so much to offer folks seeking help and insight with their organizations. Hard to choose just one resource in such a great city!
Where are you from originally?
I am originally from Dallas, Texas.
What university did you go to?
UT Austin …hook ‘em
What brought you to Austin?
I have wanted to return since college and the city works well as a “hub” for my activities around this region of the country so I jumped at the chance to relocate.
What is your group’s mission?
Constant Contact is focused on helping small businesses and nonprofits grow by providing easy-to-use, affordable tools that help to level the playing field and allow these folks to compete across the board. Our products include email marketing, online survey and most recently event marketing tools. My role, specifically, is about education and networking. I do a lot of public speaking on technology marketing for small business and nonprofits and I facilitate workshops/seminars to that end around Texas.
What need does it fulfill?
Our products make it easy and affordable for our customers to stay in front of their customers or members, to put out professional, effective communications. We help them set the rhythm of their business relationships. For my part, I get to be a bridge between the technology that makes it all possible and the regular, normal people who don’t necessarily know the technology but clearly understand what it might be able to do for them – I get to watch that light bulb go on several times a week by teaching classes and speaking to conference groups – I consider myself very lucky to get to be a part of that process.
What exactly does it bring to startups?
The average return on email marketing is $87 per dollar spent. Our customers can use our tools for very little money – starts at $15/month. It’s hard to find any other marketing/communications avenue with a similar rate of return that you can jump into with so little capital. Our customers are sending email campaigns that look professional. They use our tools to set themselves up as the “go to” resource in their field and they can track what happens with those emails – who opened it, who clicked on what and when. This is not data you get from other types of marketing without spending a great deal more than $15. And we help them learn how to do it well with personal coaching and both live/online training as well. It’s a complete package.
What type of startup would benefit from your group?
I cannot think of a startup that would not benefit from use of our tools. Our tools adapt to the needs of the user – want to do a newsletter every month? You can. Want to survey your customers so that you can build your offering around their responses? You can. Thinking of a special offer or promotion? Trying to get the word out about your new business? Need to plan a board meeting and get everyone on the same page with the event info and let them register online. We make all of it easy. And affordable.
What advice do you have for entrepreneurs?
Test. Test. Test. I teach this in all of my classes. When you try something new – in terms of marketing. rather than using your entire contact list as a guinea pig trial, why not split your list into several groups and try the new idea on ten or twenty percent first. Then you know whether you want to go forward with the rest of the group and you eliminate the potential for mass second-thought.
What Austin-based resource have you found to be the most helpful and why?
Other than AEN? Right now, I am definitely in a honeymoon stage with the Austin Chamber. As a new member, I am very involved and am so pleased to see how focused they are on small business. I’m also very impressed by the City of Austin Small Business Development Program – this is an impressive group, dedicated to the needs and promotion of small business across the city. For the nonprofit sector, I’ve become very involved with Texas Association of Nonprofits and with NonprofitAustin.org – both of these groups are key influencers with so much to offer folks seeking help and insight with their organizations. Hard to choose just one resource in such a great city!
Monday, January 4, 2010
James Caras of Sapling Learning Talks about His Startup
James Caras of Sapling Learning Talks about His Startup
Where are you from originally?
I am originally from the central coast of Californina, growing up in Morro Bay and San Luis Obispo. Growing up, it was a small town surrounded by orange groves and cattle. Today, it is wine country, with grape vines all over the hillsides.
What university did you go to?
I only applied to one school for my undergraduate degree: the University of California at Santa Barbara. Why?: excellent academics, a good Water Polo team, and surrounded by beaches on 3 sides brought me there. Received my Ph.D. in biochemistry from the University of Texas at Austin. While at UT, I designing drugs and vaccines for HIV/AIDS as well as developed instructional technologies for the chemistry department and many of the major textbook publishers.
What brought you to Austin?
Graduate school. I thought I would get my Ph.D. then head back to California. Austin has a way of captivating transplants and retaining them. Austin’s people, technology base, and entrepreneurial spirit have kept me here for the last 17 years.
What is the idea behind your startup?
Transforming education through technology.
What need does it fulfill?
Everyone knows that educational materials are rapidly moving online – as see with the rapid explosion of eBooks, assessment, learning management, and virtual schools. A large part of this shift is the rapid rise in the costs of educational materials and tuition. However, this shift to digital learning has educators worried about losing their influence on students. Nationally, there is a strong push to facilitating excellence in science, technology, engineering, and mathematics (STEM), as this is critical to U.S. global competitiveness.
Sapling Learning provides the technologies to deliver effective online learning experiences relevant to the STEM disciplines. Our technology also gives instructors total control over the instructional content within their courses. Our solutions drives down the cost of education to the student and the cost of providing effective instruction to the institution.
What exactly does your product do?
We provide a software-as-a-service online homework platform that integrates science, math, and engineering problem solving and instruction with eBooks and instructional media. Instructors adopt it for their courses, and students pay for a subscription to the service.
Who is it for?
Today, we mainly serve college students and instructors. A few university departments are working with us to deliver their own digital content to replace textbooks. We are also working with a handful of authors looking to publish eBooks integrated with our learning software.
In addition, we are currently piloting with a number of high schools nationwide.
What was the most challenging aspect of starting up a business?
I started this business originally as a media company. Sapling Learning’s greatest challenge has been shifting our business model from a media development business to a software-as-a-service company that competes with many our former customers.
What is the next step for you and your startup?
Bringing in equity capital to fund an expansion of our sales and marketing efforts as well as roll out new products that serve new disciplines.
What advice do you have for entrepreneurs?
Make decisions that are right for the long-term success of your company, gauged against your long-term goals. Decisions meant to alleviate short-term business concerns often cost you greatly down the road and certainly distract you from your goals.
What Austin-based resource have you found to be the most helpful and why?
The Austin business community offers big-city opportunities and mentoring while still feeling like a small, tightly knit group. Organizations such as ATC, TiE Austin, Tech Ranch, and the Austin Entrepreneur Network offer events that will help new entrepreneurs gain valuable advice and information and do considerable networking.
Where are you from originally?
I am originally from the central coast of Californina, growing up in Morro Bay and San Luis Obispo. Growing up, it was a small town surrounded by orange groves and cattle. Today, it is wine country, with grape vines all over the hillsides.
What university did you go to?
I only applied to one school for my undergraduate degree: the University of California at Santa Barbara. Why?: excellent academics, a good Water Polo team, and surrounded by beaches on 3 sides brought me there. Received my Ph.D. in biochemistry from the University of Texas at Austin. While at UT, I designing drugs and vaccines for HIV/AIDS as well as developed instructional technologies for the chemistry department and many of the major textbook publishers.
What brought you to Austin?
Graduate school. I thought I would get my Ph.D. then head back to California. Austin has a way of captivating transplants and retaining them. Austin’s people, technology base, and entrepreneurial spirit have kept me here for the last 17 years.
What is the idea behind your startup?
Transforming education through technology.
What need does it fulfill?
Everyone knows that educational materials are rapidly moving online – as see with the rapid explosion of eBooks, assessment, learning management, and virtual schools. A large part of this shift is the rapid rise in the costs of educational materials and tuition. However, this shift to digital learning has educators worried about losing their influence on students. Nationally, there is a strong push to facilitating excellence in science, technology, engineering, and mathematics (STEM), as this is critical to U.S. global competitiveness.
Sapling Learning provides the technologies to deliver effective online learning experiences relevant to the STEM disciplines. Our technology also gives instructors total control over the instructional content within their courses. Our solutions drives down the cost of education to the student and the cost of providing effective instruction to the institution.
What exactly does your product do?
We provide a software-as-a-service online homework platform that integrates science, math, and engineering problem solving and instruction with eBooks and instructional media. Instructors adopt it for their courses, and students pay for a subscription to the service.
Who is it for?
Today, we mainly serve college students and instructors. A few university departments are working with us to deliver their own digital content to replace textbooks. We are also working with a handful of authors looking to publish eBooks integrated with our learning software.
In addition, we are currently piloting with a number of high schools nationwide.
What was the most challenging aspect of starting up a business?
I started this business originally as a media company. Sapling Learning’s greatest challenge has been shifting our business model from a media development business to a software-as-a-service company that competes with many our former customers.
What is the next step for you and your startup?
Bringing in equity capital to fund an expansion of our sales and marketing efforts as well as roll out new products that serve new disciplines.
What advice do you have for entrepreneurs?
Make decisions that are right for the long-term success of your company, gauged against your long-term goals. Decisions meant to alleviate short-term business concerns often cost you greatly down the road and certainly distract you from your goals.
What Austin-based resource have you found to be the most helpful and why?
The Austin business community offers big-city opportunities and mentoring while still feeling like a small, tightly knit group. Organizations such as ATC, TiE Austin, Tech Ranch, and the Austin Entrepreneur Network offer events that will help new entrepreneurs gain valuable advice and information and do considerable networking.
Monday, December 14, 2009
Jeffrey Fry Talks about His Startup Experience
Jeffrey Fry of Manegain Talks about His Startup Experience
Where are you from originally?
Alexandria Virginia, but was born in San Juan, PR. Grew up pretty much up
and down the East Coast from VA to MA. Moved to Midland, Texas in 81 from
CT, then to Maine, then Massachusetts, then Florida, then California, then
back to Austin, Texas in 96.
What university did you go to?
Lafayette College in Easton PA, got my BSEE. Also, St. Edwards in their MBA
program but did not finish.
What brought you to Austin?
I was working for Philips in Sunnyvale and hired away by AMD to help with
their embedded processor strategy
What is the idea behind your startup?
To help people regain their confidence by naturally regrowing their hair.
What need does it fulfill?
Offers an all natural, non-toxic, drug free treatment for baldness and
thinning hair.
What exactly does your product do?
Restores scalp to a condition when hair grew naturally
Who is it for?
Men and women who are experiencing hair loss. Free placements of units in
high end hair salons, and day/med spas
What was the most challenging aspect of starting up a business?
Funding and making sure you can make a profit. Oh yeah, having great
teammates!
What is the next step for you and your startup?
Securing the next round of funding and expanding to 150 locations in 6
months
What advice do you have for entrepreneurs?
Watch out for wedgies: those people who want to take a piece of your company
and NOT offer any substantial help in moving you to a profitable endeavor.
Also, NEVER pay for someone to find money for you!
What Austin-based resource have you found to be the most helpful and why?
Bootstrap Austin, Tech Ranch, Door64, Austin Top Guns. Great resources for
networking and meeting people for ideas and help. Also, the Hills Fitness
has incredibly been a great place to meet talented people.
Where are you from originally?
Alexandria Virginia, but was born in San Juan, PR. Grew up pretty much up
and down the East Coast from VA to MA. Moved to Midland, Texas in 81 from
CT, then to Maine, then Massachusetts, then Florida, then California, then
back to Austin, Texas in 96.
What university did you go to?
Lafayette College in Easton PA, got my BSEE. Also, St. Edwards in their MBA
program but did not finish.
What brought you to Austin?
I was working for Philips in Sunnyvale and hired away by AMD to help with
their embedded processor strategy
What is the idea behind your startup?
To help people regain their confidence by naturally regrowing their hair.
What need does it fulfill?
Offers an all natural, non-toxic, drug free treatment for baldness and
thinning hair.
What exactly does your product do?
Restores scalp to a condition when hair grew naturally
Who is it for?
Men and women who are experiencing hair loss. Free placements of units in
high end hair salons, and day/med spas
What was the most challenging aspect of starting up a business?
Funding and making sure you can make a profit. Oh yeah, having great
teammates!
What is the next step for you and your startup?
Securing the next round of funding and expanding to 150 locations in 6
months
What advice do you have for entrepreneurs?
Watch out for wedgies: those people who want to take a piece of your company
and NOT offer any substantial help in moving you to a profitable endeavor.
Also, NEVER pay for someone to find money for you!
What Austin-based resource have you found to be the most helpful and why?
Bootstrap Austin, Tech Ranch, Door64, Austin Top Guns. Great resources for
networking and meeting people for ideas and help. Also, the Hills Fitness
has incredibly been a great place to meet talented people.
Sunday, December 13, 2009
AEN—Our First Year in Review
As we come to the end of the first year for the Austin Entrepreneur Network, we look back. We launched at the beginning of the year to bring networking, mentoring, and funding to startups in Austin. I’m proud to say we made great strides in all three areas.
We launched our new website in June, 2009, and recently went through another update this month. The website hosts over 30 blogs from experts in Austin. Entrepreneurs can benefit from the knowledge of experts in the area of finance, web, sales, marketing and more. The AEN Resource page has a list of over 130 groups in Austin related to entrepreneurship.
AEN also launched the First Look Forum which seeks to generate mentorship for startups. In a First Look Forum, ten entrepreneurs give their Fastpitch followed by ten mentors also giving a Fastpitch. We then go through a 5-minute “speed date” between each mentor and each entrepreneur. On average, each entrepreneur finds three mentors to followup with.
In the area of mentoring, AEN kicked off a Shortcourse series on social media and web with over 160 attendees in the Fall series. We also ran three Startup Business Classes providing mentorship to over 40 companies.
For funding, AEN ran the Central Texas Funding Forum 2009 in May with David Rose of the New York Angels providing the keynote address. With over 140 in attendance the event hosted 20+ breakout sessions providing mentorship as well as 15 entrepreneurs giving their Fastpitch to potential investors. The Baylor Angel Network launched bringing more investors to the Austin entrepreneur community.
Finally, AEN launched the Austin Fastpitch Show highlighting 6 entrepreneurs giving their Fastpitch on video which will soon launch on the AEN site. This gives more exposure to Austin entrepreneurs through the web to find networking, mentorship and funding.
We want to say thanks to the many bloggers, investors, providers, and entrepreneurs who participated in the first year of AEN and look forward to serving the Austin community for years to come.
Best regards,
Hall T.
We launched our new website in June, 2009, and recently went through another update this month. The website hosts over 30 blogs from experts in Austin. Entrepreneurs can benefit from the knowledge of experts in the area of finance, web, sales, marketing and more. The AEN Resource page has a list of over 130 groups in Austin related to entrepreneurship.
AEN also launched the First Look Forum which seeks to generate mentorship for startups. In a First Look Forum, ten entrepreneurs give their Fastpitch followed by ten mentors also giving a Fastpitch. We then go through a 5-minute “speed date” between each mentor and each entrepreneur. On average, each entrepreneur finds three mentors to followup with.
In the area of mentoring, AEN kicked off a Shortcourse series on social media and web with over 160 attendees in the Fall series. We also ran three Startup Business Classes providing mentorship to over 40 companies.
For funding, AEN ran the Central Texas Funding Forum 2009 in May with David Rose of the New York Angels providing the keynote address. With over 140 in attendance the event hosted 20+ breakout sessions providing mentorship as well as 15 entrepreneurs giving their Fastpitch to potential investors. The Baylor Angel Network launched bringing more investors to the Austin entrepreneur community.
Finally, AEN launched the Austin Fastpitch Show highlighting 6 entrepreneurs giving their Fastpitch on video which will soon launch on the AEN site. This gives more exposure to Austin entrepreneurs through the web to find networking, mentorship and funding.
We want to say thanks to the many bloggers, investors, providers, and entrepreneurs who participated in the first year of AEN and look forward to serving the Austin community for years to come.
Best regards,
Hall T.
Wednesday, December 9, 2009
Eve Richter the Emerging Technologies Coordinator of Austin talks about her View of Startups
Where are you from originally?
This is always a fun one. Born in NY, then NJ, RI, MA (Boston), Los Angeles (graduated from Santa Monica High School), then Sacramento for almost 20 years. So I’m both a Yankee AND a Californian. So much beloved here in Texas, without a doubt. I’m a Red Sox Fan by heritage, and Celtics fan by acclimatization. And, of course, I bleed burnt orange.
What university did you go to?
I got my B.S. (Business with Minors in Gov’t and Public Policy) and MBA from California State University, Sacramento. I got my Master’s in Public Affairs from the LBJ School here at UT.
What brought you to Austin?
I came for the LBJ School. I stayed for the community (and a great job). I really love it here. I can get good food, good fun, good weather, great people, and I can afford to live in a neighborhood and house I want to live in. Who can ask for anything more? (OK, a couple of professional sports teams would be nice, but I’ll deal.)
What is your passion and strength?
From a business perspective, I love to see companies make it past the 2-guys-in-a-garage stage, and make it to successful launch. I get a real thrill from that. My core strength is probably marketing, but I’m also good at seeing the big picture, identifying gaps and next steps. I’m not bad at finance either. I also am a crazy networker. I really do tend to know almost everyone. So getting the right people in the room together is another strength of mine. I am the queen of the “mutual introduction.”
What need does it fulfill?
I like being a part of something successful. I like having had a role. So if I can provide some assistance that helps get a company to that next stage, I guess I get to feel like I’ve accomplished something. For companies, I’m kind of a link between the government and the community and the professional services and the resources and . . . so on.
What exactly do you bring to startups?
I call myself a combination between business consultant, sales & marketer, and matchmaker. I get the right people in the room together, make appropriate introductions, and bring my experience and background to bear in helping companies steer from where they are to where they need to go.
What type of startup would benefit from your strengths?
I work primarily with technology startups, from someone with just an idea to a post-launch company looking to grow. My areas include clean energy, digital media, wireless communications, biotechnology, nanotechnology, other early stage technology commercialization, and . . . well, almost anything with a website. I do tech. Lately I’ve branched out into some lesser known areas like food service and other randomly strange companies – just because I was there and couldn’t help myself – but my real expertise is in the tech fields.
What was the most challenging aspect of starting up a business?
I think making that leap from an employee to a business owner. It’s terrifying. I get the question a lot – “when should I quit my job?” My usual answer is “that’s between you, your bank account, and your spouse.” I know how scary it is, I’ve done it. It’s risky, but it’s necessary to reach that rewarding stage (and it is there, if not every time). You have to have the stomach for entrepreneurship, and it’s not for everyone. But it’s addicting. Of course, in the current economy, you could also say getting funding is the most challenging. But really, I think in most cases when the money needs to be there, it can be found, even if it’s not easy. For a first-time startup, I think it’s that first leap of faith into running your own business full-time.
What advice do you have for entrepreneurs?
DO YOUR HOMEWORK. Get all the help available to you from so many quarters – take the classes, meet others who’ve done it already, network network network. It’s not a waste of time if you can get advice and maybe partnerships that can help you. Do the necessary research (market research, competitive research, product research, all of it). Know what you’re getting into and what you’ll need. Have a plan and stick to it until it no longer makes sense, and then make another plan. Don’t wait for perfection, it never comes. You need to make it and sell it. Having the greatest product in the world doesn’t matter if you can’t sell it. Oh – and remember to have fun! This is your business; make the environment you want to be in. If running your own company is worse than being an employee, you’re doing something wrong. Don’t get me wrong – you’ll work your butt off, you won’t have any time off, you’ll spend all of your money. But at least have fun doing it.
What Austin-based resource have you found to be the most helpful and why?
Me, of course, ha ha. No, seriously, I don’t think I can pick just one. It really depends on the situation. We are so fortunate here in Austin to have not just government-provided assistance, but also community-based assistance. I hesitate to mention any for the fear of forgetting some, but the Austin Technology Incubator, Tech Ranch, Capital Factory, Central Texas Angel Network, Austin Entrepreneurs Network, Door 64, Bootstrap Austin, Austin Startup, Business District, and so on – these are places to get information, assistance, money, startup support, information, etc. (Apologies in advance if I left you out, please know it was unintentional.) If you really want to know what’s out there for YOU, look me up and I’ll point you in the right direction. Early stage folks need different resources than revenue positive folks looking to grow.
Tuesday, November 17, 2009
Arjaree Keeratiprapa Talks about the TYE Group in Austin
Arjaree Keeratiprapa Talks about the TYE Group in Austin
Where are you from originally?
I’m originally from Thailand, but have spent my life living between Bangkok and the US.
What university did you go to?
I went to college in Thailand, and just completed my MBA at Penn State.
What brought you to Austin?
My fiancé and the warm weather brought me here to Austin.
What is your passion and strength?
My passion is learning about what drives behavior in end users, whether it is the consumer or the business user of a product. My strength is being able to understand that end user insight and apply it to product development and marketing efforts.
What need does it fulfill?
In order for any product or company to connect and engage with their end user, they first need to understand their needs.
What exactly do you bring to startups?
I bring my curiosity and end user insight to the table. Whether a startup is trying to develop a new product or launch their product into the market, it is critical that they have a deep understanding of what their end users want and expect from the product in order to succeed. I can help startups bring value to their end users.
What type of startup would benefit from your strengths?
Startups in their early stages that are still trying to define who they are and what value they offer. It is critical that startups have a clearly defined identity of themselves from the start in order for their end users to believe in them.
What was the most challenging aspect of starting up a business?
The planning process is probably the most challenging aspect because often times it is overlooked. Startups that spend time in the planning process thinking through their business model will tend to have fewer problems or will be better able to handle them when they arise.
What advice do you have for entrepreneurs?
Don’t wait for the perfect time to start something because there will never be one.
What Austin-based resource have you found to be the most helpful and why?
TiE Austin has been instrumental in connecting me with many accomplished entrepreneurs in town, who in turn have been able to provide me with sound advice, as well as inspiration, for my endeavors. Through TiE Austin, I am now involved in launching their new initiative, TiE Young Entrepreneurs (TYE), which enables me to give back to the organization and help students who are interested in the entrepreneurial field.
Where are you from originally?
I’m originally from Thailand, but have spent my life living between Bangkok and the US.
What university did you go to?
I went to college in Thailand, and just completed my MBA at Penn State.
What brought you to Austin?
My fiancé and the warm weather brought me here to Austin.
What is your passion and strength?
My passion is learning about what drives behavior in end users, whether it is the consumer or the business user of a product. My strength is being able to understand that end user insight and apply it to product development and marketing efforts.
What need does it fulfill?
In order for any product or company to connect and engage with their end user, they first need to understand their needs.
What exactly do you bring to startups?
I bring my curiosity and end user insight to the table. Whether a startup is trying to develop a new product or launch their product into the market, it is critical that they have a deep understanding of what their end users want and expect from the product in order to succeed. I can help startups bring value to their end users.
What type of startup would benefit from your strengths?
Startups in their early stages that are still trying to define who they are and what value they offer. It is critical that startups have a clearly defined identity of themselves from the start in order for their end users to believe in them.
What was the most challenging aspect of starting up a business?
The planning process is probably the most challenging aspect because often times it is overlooked. Startups that spend time in the planning process thinking through their business model will tend to have fewer problems or will be better able to handle them when they arise.
What advice do you have for entrepreneurs?
Don’t wait for the perfect time to start something because there will never be one.
What Austin-based resource have you found to be the most helpful and why?
TiE Austin has been instrumental in connecting me with many accomplished entrepreneurs in town, who in turn have been able to provide me with sound advice, as well as inspiration, for my endeavors. Through TiE Austin, I am now involved in launching their new initiative, TiE Young Entrepreneurs (TYE), which enables me to give back to the organization and help students who are interested in the entrepreneurial field.
Monday, November 9, 2009
The Importance of Innovation in Achieving Success
This guest article was written by Adrienne Carlson, who regularly writes on the topic of online executive mba programs. Adrienne welcomes your comments and questions at her email address: adrienne.carlson1@gmail.com. Her website is here.
Every entrepreneur dreams of stupendous success; they want not just the money, but also the fame. And success comes not just with luck alone, but with a combination of dedication, hard work, commitment, and of course, innovation. In fact, the ability to innovate determines how long a company is able to sustain its dominance in the industry, because without innovation, any business is bound to stagnate and eventually die out. In what can only be seen as an ironic twist, change is the only thing that is constant in life, so any business must be willing to change according to the environment it operates in.
Innovation can be defined in different terms, each of which is a little different from the other and all of which contribute to the long term success of any business. In short, innovation must be a combination of the below aspects:
• Adaptation: Ideas are a dime a dozen, so anyone can come up with them. But the ones that do succeed are far and few between. For every success story, there are a thousand failures that take place silently. And what differentiates the successes from the failures is the ability to adapt. Today, there is more emphasis on personal health and going green. So if a product or service is adapted or changed to become or eve be perceived healthier or friendlier to the environment, it is bound to taste success.
• Flexibility: Products and services that are a success are often a far cry from what they were on the design board. This is because they have undergone numerous changes according to consumer demand and market research. They are flexible enough to be changed according to the changing trends. And this is why they succeed where thousands of others fail.
• Resourcefulness: Entrepreneurs who cash in on opportunities are innovative as well; the opportunity may be short lived and temporary, but they’re able to strike when the iron is hot because they have sensed it ahead of the competition. They have their pulse on the market and know when it is the right time to make a move.
Innovation is the lifeblood of any business, more so in times when the economy is down and it’s harder to make profits or even break even. So when companies fail to improvise and innovate accordingly, they find themselves slowly falling behind the competition, and finally being pushed out of the race altogether.
Monday, November 2, 2009
UT's Idea 2 Product Competition Highlights Fifteen New Startups
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.
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, 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.
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