Advantaged: An Alloy Partners Podcast

• Evolution of the SaaS Benchmarks Report: brief history and transition from OpenView to High Alpha
• “Operation AI”: AI’s move from feature to foundational infrastructure
• Market rebound in venture funding, driven by mega AI rounds
• In-person events and office-based teams: outperforming remote-first approaches
• Product integration of AI and the deep bifurcation between pre/post-2022 founders
• What distinguishes leaders—retention, expansion, and pricing innovation in a crowded AI world
• Impact of AI on headcount, efficiency metrics, and unit economics at scale
• Commentary on industry benchmarks: ARR per employee, gross margin trends, the rise of outcome-based pricing
• Debate: Will agentic AI disrupt SaaS, or does the delivery and human element remain essential?

• Blake Koriath – Partner & CFO, High Alpha (LinkedIn)
• Host: Drew Beechler – VP Marketing, Alloy Partners (LinkedIn)

• High Alpha 2025 SaaS Benchmarks Report
• 20VC Podcast w/ Harry Stebbings, Jason Lemkin, Rory O’Driscoll: Why Vertical SaaS is a Bad Investment Today & Why VC Today is Worse than 2021
• Meritech Analytics: SaaS Public Benchmarking
• Advantaged Podcast archive

• About High Alpha
• About Alloy Partners
• Sign up for the 2026 SaaS Benchmarks survey
• Subscribe on Spotify
• Subscribe on Apple Podcasts

If you enjoyed the discussion, be sure to rate, review, and subscribe.

Advantaged: An Alloy Partners Podcast

• The origin story of Woodchuck and its partnership with NorthStar Clean Energy
• How AI and data drive more sustainable waste management
• The evolution of NorthStar’s biomass and carbon management strategy
• Lessons in venture building, collaboration, and scaling from day zero
• Advice for corporates experimenting with startup creation

• Brian Hartmann, President & CEO, NorthStar Clean Energy
• Todd Thomas, Co-Founder & CEO, Woodchuck
• Elliott Parker, CEO, Alloy Partners
• Drew Beechler, VP of Marketing & Host, Alloy Partners

• Woodchuck Press Releases:
  • Woodchuck Launches to Transform Construction Waste into Renewable Energy
  • Woodchuck Secures $3.75 Million Seed Funding to Revolutionize Waste-to-Energy for Construction, Manufacturing & Bioenergy Industries
• Elliott Parker’s Book: The Illusion of Innovation: Escape 'Innovation Theater' and Build Real Businesses

Resources & Related Links

• Alloy Partners — Learn more about our venture-building approach
• NorthStar Clean Energy — Clean energy and carbon management solutions
• Woodchuck — Turning waste into renewable energy
• Advantaged Podcast — More episodes and updates

Advantaged: An Alloy Partners Podcast

• Strategic alignment vs. financial return in corporate venture
• Tenon's origin story: spotting white space, pitching, and co-founding with enterprise partners
• What product co-development with an enterprise really looks like
• Joint go-to-market: “sell with” field teams, shared decks, and landing global clients
• Navigating the balance between startup agility and corporate process
• Keys to successful collaboration: executive sponsorship, stakeholder communication, and mutual focus
• Lessons, red flags, and advice for founders and CVC leaders

• Ben Person — Co-founder & CEO, Tenon (LinkedIn)
• Shuchi Rana — Global Head of Whitespace Intelligence, ServiceNow Ventures (LinkedIn)
• Host: Drew Beechler — VP of Marketing, Alloy Partners (LinkedIn)

• ServiceNow Ventures’ $1B strategic venture commitment
• High Alpha + Tenon Launch Press Release
• “Acquired” Podcast episode featuring Bill McDermott
• Bill McDermott’s autobiography

• Tenon's Website
• ServiceNow Ventures: Website
• Alloy Partners: alloypartners.com

Advantaged: An Alloy Partners Podcast

Episode Breakdown

• Lessons from 10 years of venture studios
• Does a “corporate startup” exist?
• Internal vs. external venture creation: frameworks and pitfalls
• Why most internal “startups” never deliver
• The right moment and model for launching external startups
• Practical advice on governance, incentives, and measuring success
• Trends and headwinds in innovation teams
• Quickfire: books, podcasts, and startup ideas

Featured Guests

• Elliott Parker — CEO, Alloy Partners (LinkedIn)
• Drew Beechler — VP of Marketing, Alloy Partners (LinkedIn)

Referenced in the Show

• a16z partner's tweet on “no such thing as a corporate startup”
• Wharton & Mack Institute Corporate Venturing Report (2025)
• Indie.vc's Bryce Roberts’ “one-person billion dollar company” thesis
  • It's not quite a "billion-dollar one-person company", but the Indie.vc website says:
    We’re obsessed with the idea that someone is going to build a business doing $100M in revenue with less than 10 employees and see it as this generation of founders’ 4 min mile. Once someone shows it can be done, many more will follow. We want to partner with the one that does to help define a repeatable playbook for those that follow.
• Google/Alphabet Acquired podcast episode
• The Price of Time (book)
• Founders Podcast

Resources & Related Links

• Alloy Partners: https://www.alloypartners.com
• Advantaged podcast: https://advantaged.alloypartners.com
• Contact Alloy Partners for venture-building collaborations: https://www.alloypartners.com/connect

Advantaged: An Alloy Partners Podcast

• Téma’s journey from PhD physicist to leading global innovation at ENGIE
• The layered approach: corporate venture capital, open innovation, internal incubation, and the APAC venture studio
• How ENGIE Factory in Singapore identifies market gaps and builds ventures to address them
• The advantages of geographic and governance independence for corporate startups
• Structuring incentives: bringing in external founders and investors for alignment and agility
• Killing ventures quickly: managing and reviewing the portfolio for strategic fit
• Lessons on scaling innovation, de-risking experimentation, and creating new growth engines in energy

Téma Benhalima-Bouville
Global Innovation Managing Director, ENGIE
LinkedIn

Elliott Parker
CEO, Alloy Partners
LinkedIn

Drew Beechler
VP, Marketing, Alloy Partners
LinkedIn

ENGIE Factory

ENGIE Corporate

Alloy Partners

Learn more about venture building, visit the Advantaged archive at Advantaged Podcast

Connect with the hosts and guests on LinkedIn:

Téma Benhalima-Bouville

Elliott Parker

Drew Beechler

Advantaged: An Alloy Partners Podcast

• Introductions and backgrounds of all guests.
• Origins and principles of MIT Proto Ventures: why a university-embedded venture studio?
• The “channel” model: focus areas, external funding, and entrepreneurial leadership.
• Incentive alignment for builder talent and founders.
• Lessons learned from five years in deeptech startup creation.
• Key takeaways from the R&D Venture Studio Playbook: bringing discoveries to market, scaling beyond MIT.
• Portfolio highlights:
  • Vertical Horizons – Compact, efficient power supply units for AI/data centers (seed-funded, launched 2024)
  • Hyperion Transport Systems – Satellite thruster innovation
  • Interlink – Grid interconnection software
• The “translation gap” in academia and how Proto Ventures aims to move the needle.
• Vision for the future: universities as active engines of national security and economic dynamism.

• Gene Keselman – Managing Director, MIT Proto Ventures (LinkedIn)
• David Cohen-Tanugi – Venture Builder, MIT Proto Ventures (LinkedIn)
• Andrew Inglis – Venture Builder, MIT Proto Ventures (LinkedIn)
• Host: Drew Beechler – VP Marketing, Alloy Partners (LinkedIn)

• R&D Venture Studio Playbook
• The Hill: "Universities must become active launchpads for innovation"
• Vertical Horizons
• Embr Labs (founded by David Cohen-Tanugi)

• MIT Proto Ventures
• Alloy Partners
• Advantaged podcast archive

Advantaged: An Alloy Partners Podcast

Episode Breakdown

• 01:00—History of DCRI: The roots of Duke’s Clinical Research Institute and the rise of population-scale cardiovascular trials.
• 04:00—Meet Donna Parker: Donna’s journey from public health and pediatric trials to leading innovation as Director of i-Cubed at DCRI.
• 05:00—Why i-Cubed? The founding vision to speed up, de-risk, and democratize clinical trials via novel partnerships and commercialization pathways.
• 08:00—Entrepreneurship Inside Duke: The two “pipelines” for innovation—internal clinician/employee inventors, and industry/startup co-development.
• 09:30—The i-Cubed Model: Support for entrepreneurs from idea validation to market fit, pricing, and brand development; EIR program details.
• 15:00—Engaging Pharma and Industry: How traditional players partner with DCRI/i-Cubed for academic insight, validation, and AB testing.
• 21:00—Macro-Level Shifts: The impact of COVID-19, remote and decentralized clinical trials, and the new frontiers opened by AI and data.
• 25:00—AI in Clinical Research: From recruitment and protocol creation to governance and practical challenges; why trust and human connection still matter.

Featured Guests

• Donna Parker — Director, i-Cubed, Duke Clinical Research Institute (LinkedIn)
• Mamta Elias — Director, Alloy Partners (LinkedIn)
• Drew Beechler — VP Marketing, Alloy Partners (LinkedIn)

Referenced in the Show

• Duke Clinical Research Institute: dcri.org
• i-Cubed Center: DCRI i-Cubed
• DCRI Think Tank Program: Think Tanks at DCRI

Resources & Related Links

• Alloy Partners
• Partnership inquiries: [email protected]
• Past episodes of Advantaged: Alloy Partners Podcast

For more insights on corporate innovation and entrepreneurship in healthcare, subscribe to the Advantaged podcast and follow Alloy Partners on LinkedIn.

Advantaged: An Alloy Partners Podcast

Episode Breakdown:

• Introduction to startup communities: Why they matter and how they support founders and innovation
• The “Give First” mentality: David Cohen on the secret weapon of successful communities
• The Boulder Thesis and evolution of startup community principles: Brad Feld on defining and evolving community leadership
• Instigators and ecosystem players: The role of non-founders and organizations in driving community success
• Government and policy: Ian Hathaway on how policy can help or hinder startup ecosystems
• Techstars’ approach to community partnerships: David Cohen on global mentorship and learning networks
• Denver Startup Week’s growth and inclusivity: Erik Mitisek on welcoming all voices and scaling impact
• Love of place and community care: Ian Hathaway and panelists on the importance of local pride and collaboration
• Overcoming gatekeepers: Brad Feld on the power of action and open access in building vibrant ecosystems
• Call to action: Everyone has a role in building their startup community

Featured Guests:

• Lesa Mitchell, General Manager, Alloy Partners (LinkedIn, X)
• David Cohen, Co-founder & CEO, Techstars (LinkedIn, X)
• Brad Feld, Partner, Foundry Group & Co-founder, Techstars (LinkedIn)
• Ian Hathaway, Partner, Far Out (FOVC) & Co-author, The Startup Community Way (LinkedIn)
• Erik Mitisek, Founder, Denver Startup Week (LinkedIn)

Referenced in the Show:

• Startup Communities by Brad Feld
• The Startup Community Way by Brad Feld & Ian Hathaway
• Global Entrepreneurship Congress 2025, Indianapolis
• Techstars Startup Community Partnerships

Resources & Related Links:

• Alloy Partners
• Techstars
• Foundry Group
• Far Out Ventures
• Denver/Colorado Startup Week
• Global Entrepreneurship Congress

Advantaged: An Alloy Partners Podcast

Episode Breakdown

• Simon Ratcliffe’s journey: from mechanical engineer to DNV’s Venture Building Director
• Early lessons in digital product failure and the importance of customer discovery
• The evolution of DNV’s venture building: from internal incubator to hybrid CVC and spinout model
• Funding innovation: why traditional budgets fail and how CVC models unlock growth
• Spinout criteria: what makes a venture “worthy” and the role of market validation
• Carving out ventures: challenges in team, tech, and incentives
• Aligning incentives and attracting external investors
• The real value of autonomy and entrepreneurial talent in post-spinout growth
• DNV’s purpose-driven approach to innovation and recurring digital revenue
• Advice for corporate innovators: internal selling, experimentation, and leveraging external expertise

Featured Guests

• Simon Ratcliffe – Venture Building Director, DNV (LinkedIn)
• Elliott Parker – CEO, Alloy Partners (LinkedIn)
• Drew Beechler – VP Marketing, Alloy Partners (LinkedIn)

Referenced in the Show

• DNV: Global quality assurance and risk management company, headquartered in Norway
• DNV Ventures: Corporate venture arm focused on strategic investments and venture building

Resources & Related Links

• Alloy Partners
• Previous Advantaged episodes

Advantaged: An Alloy Partners Podcast

Episode Breakdown:

• Why DNX Ventures launched DNX Studio in partnership with Alloy Partners
• How venture studios give VCs a new edge in sourcing and shaping startups
• The unique challenges and opportunities in Japan’s maturing startup ecosystem
• DNX’s approach to founder selection and building founder-market fit
• Creating a physical community for seed-stage founders in Tokyo
• Case study: How DNX Studio tackled inefficiencies in Japan’s insurance market with AI
• Lessons for founders, corporates, and investors on building and backing new ventures

Featured Guests:

• Yuma Tanaka – Investment VP, DNX Ventures (LinkedIn)
• Ryan Larcom – Managing Director of Studios, Alloy Partners (LinkedIn)
• Drew Beechler – Host & VP of Marketing, Alloy Partners (LinkedIn)

Resources & Related Links:

• DNX Ventures
• Alloy Partners
• Advantaged Podcast, Season I: State of Corporate Innovation
• Advantaged Podcast, Moving Beyond Innovation Theater
• Alloy Partners Resources

Connect with Us:

Follow Alloy Partners on LinkedIn

Episode Transcript:
A full transcript is available on our website.

Advantaged: An Alloy Partners Podcast