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A new competition--part of the Startup America effort launched by the Obama Administration, and spearheaded locally by Caltech, USC, and UCLA--said today that it is looking to award $200,000 in prize money to university students with clean energy business ideas. The competition is being funded via $360,000 grant from the U.S.
Let me start with the news that I’m excited to share with you. Competitive (Athlete: skier & rowed at Princeton, hates losing at everything she does). Startup CEO experience (Founded P.S. XO along with my good friend Soleil Moon Frye. She is a coach and mentor to team members. Thus began my marketing campaign.
I recently sat down with Matt Coffin , the founder of LowerMyBills, which sold for $400 million but was very nearly a bankruptcy only a few years early, and talked “startups.&#. Matt is one of the most transparent, focused & honest startup guys you’ll meet. Or read the quick, informative summary below the image!
Of course this can be done and of course I am a big proponent of the rise of startup centers across the country as the Internet has moved from the “infrastructure phase” to the “application phase” dominated by the three C’s: content, communications and commerce. Local mentors matter. Local capital matters.
Last week, the University of Southern California 's Viterbi School of Engineering announced that it had established a new, business plan competition, the Maseeh Entrepreneurship Prize Competition ([link] specifically aimed at students in the engineering school. Why a business plan competition, and why in engineering school?
1) Get A Mentor. "I "I started the site when I was 19. "When you give everyone a voice and give people power, the system usually ends up in a really good place. " When asked about the competition he feared most, Bill Gates is alleged to have said, "the two guys inventing away in a garage somewhere."
This time, Frank gives the Top 10 Ways to Win a Business Plan Competition. I'm a judge in a local university's business plan competition. Over the past few years I've been involved in different ways in the UC Irvine, Paul Merage School of Business, Business Plan Competition. They came in 2nd place. They came in 2nd place.
A special thanks to Jason Lehmbeck , founder & ceo of DataPop , a great LA startup of which I have been a long-standing fan, for championing this event and bringing it to my attention. But, as in every civic endeavor, real change starts with the people. Startup Advice' Fortunately the LA tech community and Angelenos agreed!
In December 2007, I described how I commonly take on an Acting CTO Role in a Start-up. However, I’ve now begun questioning how and what an early-stage / startup CTO should be. What worries me a bit is how often I read that startups should hire a developer / hands-on lead developer. Gap closed, right? Probably not.
leadership, mentorship, competitiveness, communications, relationship-building?—?and Kara said “no” because she wanted to start her own company, which she did and I backed. In any job you either find leadership opportunities for your best people BEFORE they ask or other people start asking them to become leaders somewhere else.
He lived the philosophy that companies must be paranoid in order to survive, and continually disrupt their own markets to prevent overrun by competition. Start small and move quickly to test new approaches that can be scaled up later, with an understanding that some will fail. Be proactive rather than reactive to market change.
There is a large menu of startup accelerators in the Los Angeles, but one of more established efforts in the area is LaunchpadLA ([link] The effort actually started as an informal mentoring program, but has grown and expanded to follow the accelerator model. For readers, LaunchpadLA is all about?
Due to the pervasive Internet, the scope of most successful startup teams today has become global. According to recent reports , these come from all the way up and down the age and experience spectrum, including up to ninety percent of the current Baby Boomers, as well as Millennials.
According to a recent Forbes article , UC Santa Barbara''s Technology Management Program offers students a superior startup education over the University of Pennsylvania (home of Wharton), as well Harvard, Northwestern and even its acclaimed southern neighbor, the University of Southern California. Techpreneurs. Share and Enjoy.
One of the reasons that now is the time to be an entrepreneur is the explosion of startup assistance organizations, usually called incubators or accelerators. Most of these are non-profits, set up by a university to commercialize new technologies, or a municipality to foster business development for the local economy.
I’m fully convinced that both inspiration and perspiration are always required in a startup. Those at the other extreme don’t look up from the grindstone long enough to notice whether all their work is producing sweat equity or just sweat. Starting a business may be fun, but it’s not easy. Start even before the product is ready.
So do you think the environment still tough for startups? Investors are very focused on diligence, on business models that make sense, and those companies that have a definite competitive advantage and defensibility to what they're doing. Mike Napoli: It's quality versus quantity. Interestnig. Mike Napoli: Obviously, it's still tough.
Ironically, as a startup investor and mentor, I have seen too many failures caused by just the opposite – too much money spent too soon, taking time to get product perfection, and assuming customers will wait. How many times have you actually made up work to keep an idle person busy? Marty Zwilling.
” Let’s start with “oversight.” ” Most VCs view it as their responsibility to mentor, debate, cajole and generally assist with investments they make. Thus, a desire to invest more locally where I think I have a competitive advantage. “ Startup Advice' Local knowledge runs deep.
The Los Angeles startup community is joining the rest of the world in mourning the death of NBA superstar, entrepreneur and investor Kobe Bryant who was killed in a helicopter crash in Calabasas, Calif., shortly before 10 a.m. Together with Shaquille O’Neal, Bryant helped make the Lakers the dominant team in the NBA in the early 2000s.
As a mentor to entrepreneurs, I tend to see many of the same obstacles appearing in every new startup, and since I don’t want to appear to be a downer , I’m not sure how to properly warn people ahead of time to be on the alert for these challenges. Funding is depleted before customer sales ramp up.
I got a call a few years ago from a well-known investor up North. He’s an incredibly smart investor and somebody that I actually consider to be a mentor to myself. Competition is fierce. He opted for two big VC funds up North who split $1.5 Please call me early when you start your next company. Fair enough.
Why is it that only the most successful entrepreneurs , including Mark Zuckerberg, Bill Gates, and Richard Branson, admit to having a mentor and actually use them? Starting a new business is tough, and the last thing you need is to suffer the same mistakes that have killed businesses like yours before you.
You have to be extra tough mentally to start a new business venture. He spent many years with the SEALs, but has since started and built six multimillion-dollar business ventures. To be an entrepreneur or a Navy SEAL, you must first have vision, focus, and the courage to step up to lead. Set your targets high.
In this context, even “satisfied” is only a “meets-minimum,” and does not put you ahead of your competition. Feedback from the field shows that a successful collaboration , whether with customers, employees, vendors, or other business partners, will make your company stronger and more competitive in the marketplace.
As an angel investor to startups, I’m still surprised to find entrepreneurs who expect investors to give them money, and assume no strings attached. Angel and venture capital money always comes with ownership and management implications, starting with the obvious ones outlined in the term sheet for the deal.
One of the most stressful and unanticipated challenges that comes with starting a new business is hiring and managing employees. I just finished a new book for entrepreneurs, “ Secrets to a Successful Startup ,” by Trevor Blake, which makes the same points, based on his own real-life experience with three successful startups.
In my role as a mentor to aspiring entrepreneurs, I find that most have the technical challenges well understood, but many are a bit short on some basic street smarts , or basic business realities. Thus I often recommend that before you kick off your own business, you join another startup or existing business to see how things really work.
Utilize outside expertise and mentoring. No matter how much energy, experience, and passion you have, there is always more you can learn from an Advisory Board of external experts or a mentor. Track competition to stay ahead of copycats. Track competition to stay ahead of copycats.
Three local universities, plus a Pasadena-based startup, have received a $360,000 grant to promote student entrepreneurship in clean technology. Department of Energy to help foster student entrepreneurs via a business plan competition run by the group called First Look West. OnGreen said it is the commercial partner for the effort.
Kevin O'Connor: I've been doing venture since my first deal in 1995, and have been investing on and off since I moved to Santa Barbara in 2001, under the name O'Connor Ventures, and did that full time until 2009, when I started Graphiq, and switched back into doing another company. It's just hard to work 80-hour weeks when you're 57.
In my consulting work, when I ask team members in startups and small businesses how they know whether they are doing a good job, the typical response I get is “Nobody has yelled at me today,” or “No news is good news.” A little competition for results is always a good thing. Show confidence in their progress and future.
I was having a chat with an entrepreneur who I really like and who I try to mentor from time-to-time. But I tell people up front when I think the idea won’t work, the team is wrong or the strategy is off base. Mix my views into the pot and make your own mind up. One problem. He’s struggling to raise money.
Fortunately, the Startup of the Year program aims to make it easier for founders to connect with resources. In 2006, a passion to help startups grew into Tech Cocktail , a company whose mission was to showcased burgeoning companies in bars around the country. Greater Fargo Moorhead Economic Development Corporation (Fargo, ND).
The rest of our partners, principles, associates and EIRs can weigh in with commentary on their views of the quality of the entrepreneur, the market, the product, competition and so forth. Sometimes this feedback is sufficient to start to erode his confidence in pursuing the deal. The same is true at startups.
In my many years of experience in business, and recent work as a mentor to entrepreneurs, I have seen the business world change, and can relate well to his five success practices paraphrased here: Build the team from people with a shared obsession. Teams must openly deal with their own weaknesses and take action on underperformers.
As a mentor to aspiring entrepreneurs, I often feel the frustration of someone trying to build a startup in the wrong place and time, and wrongly attributing their struggle to personal limitations. I saw these addressed well in a new book, “ The Startup Community Way ,” by Brad Feld and Ian Hathaway.
One startup, SwoopThat (www.swoopthat.com)--started by a recent college grad Jonathan Simkin --has made it much easier to buy books for student, by pulling up books based on a student's schedule. How did you come up with the web site? They act as mentors and help companies grow. I graduated in May of 2010.
Thus, in my role as mentor to young entrepreneurs, I always recommend that you first take a hard look at your own values and priorities, before jumping into any new startup, as the founder, or even as a side hustle. Timing is critical for every startup. Of course, if you wait for the perfect time, you may never start.
There is no substitute for diving into the key details of a new startup. These executives won’t survive long in a startup environment. A diligent entrepreneur should certainly work the important details for his or her startup, especially when it comes to assessing any negative fluctuations in the business.
Never give up when you truly believe. Find a job you like and you add five days to every week - I often tell my children), "I never worked at day at my startups because we were having too much fun." Admittedly, not every day was a carnival, but I certainly enjoyed the majority of my startup workdays. Fight fairly. Laugh loudly.
The group--which was started by Richard Koffler and John Morris , two well known investors in Los Angeles--has been trying to help connect CEOs with interesting university and other technology projects. It's trying to determine if there is a viable way to go to market, and also deal with competitive issues.
Career survival today requires thinking and acting like an entrepreneur starting a business, staying nimble and resilient, willing to pivot, and supersensitive to the market realities of supply and demand. Reid Hoffman, cofounder of LinkedIn, helped me crystallize these similarities with his new bestseller “ The Start-up of You.”
As with most investors and advisors, I always look first at some key personal characteristics and leadership strategies that I find often make you a more likely survivor and winner in the highly competitive world of businesses, both new and mature. In my view, too many businesses fail, simply because founders give up too early.
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