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Posts Tagged ‘Startup Stampede’

Triangle Startup Factory names inaugural class

Monday, March 19th, 2012

By Joe Procopio

Joe Procopio

Joe Procopio

There really is no such thing as overnight success in the startup universe.

Just as it’s been a long road for Triangle Startup Factory, going back to the conversations I first had with Chris Heivly some three years ago, when the idea of an accelerator in the Triangle seemed so crazy that it just might work, it’s been a haul for the five companies that make up its inaugural class.

ExactByte makes Archive Social, a software-as-a-service solution for automatically keeping business-compliant records of an organization’s social communication (Facebook, Twitter, LinkedIn). I first started following CEO Anil Chawla’s entrepreneurial exploits while he was still with IBM a couple years ago, and finally wound up covering him, ExactByte, and Archive Social when he presented at Launch Days back in January.

As I mention in that column, Anil has been on the startup scene for years, he’s been a fixture at ExitEvent since the first one (he even let me beat him at ping pong back in December), and he was at Startup Happy Hour Wednesday night looking all smiley and what not.

Ruzuku has been at it just as long if not longer. They allow creation of online courses and learning communities for instructors – anyone from bloggers to coaches to speakers who want to put structured instructional material online. I first met Rick Cecil over a decade ago when he was building UX for clients at hesketh.com (almost before anyone knew what web UX was). Abe Crystal first told me about Ruzuku early in 2010, and they also presented at Launch Days in May of that year.

Making athletic training more productive

RxAnalytics uses machine learning algorithms and data analysis to make athletic training more productive, resulting in maximized performance. When I last saw Deepak Gopalakrishna, it was via Skype in February when he pitched to the Carolina Challenge from a coffee shop somewhere in DC. He was in DC because he had been pitching in person earlier that day. RxAnalytics was also a Startup Stampede company in mid-2011.

Arcametrics has created a data engine that allows financial and healthcare marketing professionals to pool relevant customer data across from multiple sources without compromising privacy. Admittedly, this is the company I know the least about and there is little information online, but I found some stuff on them dating back to 2008, which is exactly two forevers ago in startup time.

Berst is an app that lets you communicate with groups of people at specific locations where you share a common context. Matthew Ramsden and Caleb Foster developed the app as a side project and then took it to Chicago’s bi-monthly Technori Pitch event in October where they demoed the app to 500 people.

Yes, they are the youngest company of the bunch, but remember, this is an accelerator, not an exit.

I caught up with Heivly on Wednesday (surprisingly, not at any of the three startup events that took place that night) and he was genuinely excited about the class. It also means good things for the region, with TSF having pulled a much greater pool of applicants from the area, 55% local as opposed to 25% local during the late 2010 LaunchBox Digital application process.

The class is mostly local too, and it’s that way on merit, with absolutely no preconceived desire to pull local startups into the accelerator.

It bodes well.

 Joe Procopio heads up product engineering for automated content startup Automated Insights. He also founded and runs startup network ExitEvent, consulting marketplace Intrepid Company, and the Intrepid Media writers network. You can read him at http://joeprocopio.com and follow him at http://twitter.com/jproco.

 

Durham to stuff the next big thing in a tiny little office

Tuesday, February 28th, 2012

By Joe Procopio

Joe Procopio

Joe Procopio

Sometime in May, you’re going to be walking down Main street in Downtown Durham and pass by a glass-encased habitat at the front of a well-known coffee shop where a single entrepreneur or team of entrepreneurs will be feverishly working for your enjoyment.

You may stop in for a delicious coffee, you may just watch for a few minutes while lines of code are slung at some business problem that needs fixing. But when you walk away and go about the rest of your day, you’ll be thinking, “I should have thought of that.”

The Smoffice

You’ll be peering through the glass at The Smoffice, a so-crazy-it-has-to-work partnership between the Greater Durham Chamber of Commerce, Downtown Durham Inc., Beyu Caffe, and a host of other local sponsors.

The idea is to give a single startup six months of free space in “the worlds smallest office” in downtown Durham, driving home the point that a startup doesn’t necessarily need big or fancy or cash or backing, but simply a great idea fostered in a stimulating and supportive environment.

smoffice

It’s a rather artful statement on Durham as an up-and-coming startup ecosystem.

Of course, there are other bells and whistles, but these are grass roots bells and whistles, most importantly a nearby condo for potential out-of-town candidates, and also free custom office furniture, a tablet, assistance from experts in legal, accounting, and marketing, and finally connections to over 70 of the startups in downtown Durham.

The application process starts Wednesday, 2/29 (Leap Day, just to drive the quirkiness home), and more info can be found on http://www.thesmoffice.com

I’ll wait while you turn your world back rightside up.

So Who Did Think of That?

When people ask me how Durham has come from seemingly nowhere to emerge overnight as the most hypeworthy startup hub of the east coast, I give a varying array of reasons: The establishment of the American Tobacco Complex downtown, the low cost of space, the growing number of privately run support organizations, elves, etc. But usually I include one specific thing.

Or rather dude. Adam Klein at the Durham Chamber.

Klein is one of those guys you see at all the startup-related events in the area, from the smaller, street-level meetups to the big fancy conferences. Because he’s so much better looking than me, I tend to stay away from him, but I have gotten to know him, and I’m floored by the things he’s done, and the things he didn’t do, to contribute to the growth of Durham’s startup scene.

When people think of the Durham Chamber, which admittedly isn’t very often because of the fact that 90% of what they do is support behind the curtain, they think of things like Startup Stampede, a program that put a handful of budding startups into a downtown Durham space with infrastructure and mentoring – like an accelerator, but without the cash and investment components, although said investment was in Durham itself.

See? Sneaky.

How to Start a Startup Stampede: Step 1 = Don’t Start a Startup Stampede

Klein now advises other chambers and government organizations from locals to regionals to the National Chamber on how to build a localized startup culture into a Stampede. His primary advice: Don’t do it, or rather, don’t start with the event, there’s a lot of prep work to do first.

For all the out-of-the-box thinking and risk taking that produced the Stampede, it was the months behind the scenes he and others spent talking to the local startup community and the greater business community.

This meant countless meetings with individual entrepreneurs and potential entrepreneurs, selling the benefits of Durham and listening, intently, to their needs and desires. This is not easy to do, since most of those lists of needs and desires usually start, ill-advisedly so, with “a boatload of working capital,” which of course the Durham Chamber does not have or have access to.

It also meant countless meetings with Durham companies, from giant corporations like HTC to establishments you wouldn’t expect to be a part of the ecosystem at all, like downtown’s Beyu Caffe. In these sessions, he’d sell the benefits of a sprouting startup community back to them, an equally difficult proposition when you’re talking about propping up a tax/customer base known for being broke and desperately seeking “a boatload of working capital.”

And finally, it meant getting out of the way — knowing what to provide, what to support, making it happen, and then letting it grow on its own, grass-roots, live or die.

I’m Looking at You, Every Other Startup Support Group

It took ages for all that to pay off in the form of Startup Stampede, and that, along with multiple other initiatives from both the public and private sectors, a metric ton of hard work from the startups themselves, a parsec of good press, and a half-dozen elves, is how the Durham startup ecosystem sprang up from “nowhere.”

With a couple of successful Startup Stampedes under their belt, Klein and frequent collaborator Matthew Coppedge from Downtown Durham Inc. knew that they had to evolve. They realized that in order to keep up with and properly serve Durham’s fledgling startup environment, they needed something new, something unique, and something bigger.

And because the Raleigh-Durham area has a reputation for being so vanilla that you can literally flavor your coffee with a few blades of grass taken from the finely manicured lawns of Cary, they knew it should push the boundaries a bit.

A bit.

So they went small.

A Tiny Window Into Durham

Klein and Coppedge know that there isn’t nearly enough attention on Durham as a startup hub, certainly within the area and definitely outside of it. So they hope that there are several marketing aspects that can be ramped up through the lifecycle of The Smoffice.

It will start with the application process, which will be worldwide and centered around the uniqueness of the space. This is not only meant to attract outside entrepreneurs to the program, but also serve as an introduction to the location and the culture, a huge and very important task in keeping the Durham startup ecosystem growing.

The marketing will continue with the live nature of The Smoffice itself, offering locals and non-locals alike a peek into how entrepreneurs can succeed in Durham, with or without a Smoffice and all the sponsors and connections, but because of a culture that promotes risk, acceptance, help, sharing, and support. At one point there was talk of a documentary, but I don’t know where that went. It’s a great idea though

Wish I’d thought of it.

Joe’s last column offered “Five Reasons why you need to be at SEVC”

Joe Procopio heads up product engineering for automated content startup Automated Insights. He also founded and runs startup network ExitEvent, consulting marketplace Intrepid Company, and the Intrepid Media writers network. You can read him at http://joeprocopio.com and follow him at http://twitter.com/jproco.

Startup Stampede: launch a company in 60 days with free space and support in Durham

Tuesday, February 22nd, 2011

Durham StampedeDurham is becoming a hotbed for startup companies, with more than 50 in downtown alone. The success of the American Tobacco Campus and its startup friendly American Underground, the proximity to Duke University and the University of North Carolina in Chapel Hill,  Research Triangle Park located 10 minutes away, and the city’s modest-cost-of-living are all contributing factors.

In a guest post on Jason Caplain’s Southeast VC blog, Adam Klein, director of Strategic Initiatives, Durham Chamber, wrote, “The idea for the Bull City Startup Stampede came during a conversation with Preation founder and iContact co-founder, Aaron Houghton. We were talking about how the startup scene in downtown Durham is thriving and that we’d love to expose more entrepreneurs to this environment. That’s when Aaron started talking about a wacky sort of spectacle eared at giving Triangle-based startups a first-hand experience of Durham…from there we launched the Startup Stampede.”

Houghton tells us, “It doesn’t cost the entrepreneurs a thing and they don’t give up any equity.  The space is right in the middle of the startup scene in downtown Durham, 50 startups are within talking distance from this office. The 50mb Internet connection in the space is not currently offered to businesses in NC via cable providers but Stampede companies will get it first (for free) which is really cool.”

Klein added, “The programming for the event will be light but we are planning to bring in some very successful Durham entrepreneurs each week to talk with the Stampede participants about the ups and downs of launching a company.”

Durham startups already employ about 500 people and it’s well known that small businesses account for the bulk of new jobs created. With the RTP’s large tech companies shrinking workforces, we think this emphasis on creating and nurturing startups bodes well for the Bull City’s future.

Applications are due March 11 and selected participants will be notified by March 18. There is no specific industry focus but Kleins says, “We are mostly interested in the background of the founder/team, the market opportunity and the scalability of the concept.”

–Allan Maurer

Email TJS Editor Allan Maurer: Allan at TechJournalSouth dot com.

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