Powderkeg - Unvalley

Launching a tech product can be a very rocky road for a startup. Technical issues are common, and user feedback during the early days of rollout is often focused around bugs and glitches rather than the product’s core features. This makes it difficult for teams to hone in on what’s working and what isn’t, which can delay the process of reaching product-market fit. And this all wastes a startup’s most valuable resource: time.

For these reasons, our guests on today’s episode of the Igniting Statups podcast believe the traditional process for developing a minimum viable product (MVP) is broken. The first is Andrew Goldner, an entrepreneur, venture capitalist and founder of GrowthX, an investment firm that helps organizations commercialize innovation through capital, talent and know-how. Joining him is Sashank Purighalla, CEO of BOS Framework, which provides a pre-built suite of APIs, plugins and UI components for startups that are building software applications.

According to Andrew and Sashank, the MVP process shouldn’t just be about building software—it should be about evaluating the market and creating a product that solves a real need. By leveraging in-depth research and tools that jump-start technical development, startup teams can discover what their market needs and spend their valuable resources building that solution. That means reaching product-market fit, revenue and profitability sooner, which could make the difference between startup growth and startup death.

In this episode with Andrew Goldner and Sashank Purighalla, you’ll learn:

-- Why a successful product has to do more than sound interesting.

-- Reasons why venture funding might be the wrong choice for a startup.

-- How GrowthX is fueling venture capital growth outside Silicon Valley.

-- The big problem with the traditional MVP process.

-- The benefit of market acceleration programs for discovering market truth.

-- How a pre-built tech framework can help companies get to product-market fit.

-- Andrew’s and Sashank’s greatest hopes for entrepreneurship in middle America.

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

The U.S. tech industry is booming, but there’s a shortage of skilled talent to match all the new positions being created. The Bureau of Labor Statistics and National Center for Education Statistics have estimated there will be 1.4 million open computer science jobs in 2020 and only 400,000 computer science graduates to fill them. That means anyone with tech skills such as coding will be in great demand for the foreseeable future.

Fortunately, there are many ways to learn these skills besides the traditional path of a college degree. Our two guests today are huge advocates of one popular alternative: coding schools and bootcamps. Ruben Harris, co-host of the Breaking Into Startups podcast, is also the CEO of Career Karma, an organization that matches people who want to learn to code with the right support circle and coding bootcamp for their needs. And Chok Ooi, who serves as chairman for his startup AgilityIO, also runs Kenzie Academy in Indianapolis, a coding school that focuses on helping students without a prior technical background break into the industry.

In this episode originally broadcast live from the Powderkeg offices at Industrious Indianapolis, Ruben and Chok discuss how learning to code can ignite your career in tech. Drawing from their insider perspectives, they explain how to begin charting your career path, how to find the coding school that’s right for you, and why coding school models devoted to diversity and inclusion will be instrumental in closing the widening tech talent gap.

In this episode with Ruben Harris and Chok Ooi, you’ll learn:

--- Tips for charting your career path and telling your personal story.

--- How to connect with people who can help you advance your career.

--- Why nontraditional education is needed to close the tech talent gap.

--- What to look for when choosing a coding school.

--- The clear benefits of diversity and inclusion for tech talent pipelines.

--- Ruben’s and Chok’s best advice for people who want to break into tech.

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

For decades, the communities to watch for the next batch of disruptive tech companies were along the coasts in cities like San Francisco, New York, and Boston. But that trend has started to change. Today, you’re just as likely to find the seeds of a billion-dollar startup in Cincinnati, Nashville, or Kansas City, and the venture capital industry is taking notice.

Our first guest on today’s episode of the Igniting Startups podcast was among the earliest investors to see the potential in Midwestern tech communities. Chris Olsen was a partner at Sequoia Capital in Silicon Valley when he discovered the incredible tech opportunities going unnoticed in the state of Ohio. He moved to Columbus and founded Drive Capital in 2013, years before most coastal VCs had caught onto the tremendous business growth happening in America’s heartland.

Over the last five years, Drive Capital has invested in more than two dozen Midwestern companies, which have earned a combined $30 billion in exits. In this episode, Chris is joined by Indianapolis-based entrepreneur Mike Seidle, COO of the location-based hiring software WorkHere, to discuss the abundant startup opportunities that remain to be leveraged in Ohio, Indiana, and beyond.

In this episode with Chris Olsen and Mike Seidle, you’ll learn:

--- The two core pillars of impactful venture investing.

--- When to take a risk on an innovative new technology.

--- Why the Midwest is attracting more and more attention from investors.

--- How startups can leverage local talent populations to grow their business.

--- One powerful strategy for finding investors who are right for your company.

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

Starting a company is often a solitary journey. Until they have enough traction to hire their first employees, founders tend to spend much of their time working alone. A little support for a young startup can go a long way, and that’s where community initiatives and organizations can make a tremendous impact.

Today’s episode of the Igniting Startups podcast takes an in-depth look at how one community empowers its local tech startups and entrepreneurs. Our two guests are Brynn Plummer and Clark Buckner, staff members at the Nashville Entrepreneur Center in Nashville, Tennessee. (Buckner is also co-founder and chief creative officer of Relationary Marketing). The EC (Nashville Entrepreneur Center’s nickname in the local community) is a non-profit organization dedicated to connecting entrepreneurs with the critical resources needed to create, launch, and grow a business.

Following the release of the “Grit and Growth: The 2018 Tennessee Tech Census Report” and the EC’s NEXT Awards honoring local entrepreneurs and companies, my guests and I sat down to discuss the many ways Nashville enables startup success. Our conversation showcases the organizational and institutional support that communities across the country can provide for their local entrepreneurs—and how entrepreneurs can leverage a variety of community resources for business growth.

In this episode with Brynn Plummer and Clark Buckner, you’ll learn:

--- How entrepreneurial organizations help founders create winning business models.

--- Why interpersonal networks are crucial when it comes to fundraising.

--- The big difference a good culture makes for a startup.

--- The many ways investing in public transportation empowers entrepreneurs.

--- How to tap into your city’s unique business landscape for startup success.

--- Major forces and circumstances that attract people to tech hubs.

--- The kind of content you can expect from the Nashville EC’s upcoming podcast.

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

Building and scaling a company takes determination. It takes a team with an indomitable spirit who won’t take “no” for an answer. The same is true for tech communities. To grow and thrive, a community and all its members must display perseverance and confidence in the face of obstacles and hardship. In a word, rising tech communities need grit.

The tech communities of Tennessee have grit in spades. In just the last decade, the cities of Chattanooga, Knoxville, Memphis, and Nashville have grown their tech sectors tremendously, attracting skilled entrepreneurs and talent from across the country with low business and living costs, plus excellent quality of life. The innovative startups and tight-knit communities here share a powerful culture of entrepreneurial pluck—mixed with a healthy dose of Southern hospitality—that has been a secret weapon on their combined journeys toward success.

The Powderkeg team recently traveled to Nashville in Middle Tennessee to unveil the 2018 Tennessee Tech Census Report, our fifth and final census report of the year. During a special reveal event at the co-working space Center 615, we dove into the findings with six influential members of the community. We came away with a better understanding of the unique culture that has supercharged Tennessee’s tech sector and where it will lead these communities in the future.

In this episode with some of Tennessee’s top tech entrepreneurs, investors and thought leaders, you’ll learn:

---- Meaningful ways heartland cities can invest in their tech communities.

---- How changing investment dynamics are benefitting rising tech hubs.

---- Why a good company culture is the best hiring asset for a startup.

---- What to look for and what to avoid in a corporate partnership.

---- Ideas and strategies for building a culture that goes beyond lip service.

---- Some of the most innovative startups in Tennessee to keep on your radar.

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

When you’re busy building an innovative tech company, your time is at a premium. Crucial concerns like developing your product and finding customers usually take center stage, making it easy to put off the more mundane matters of payroll and benefits for your employees. But ignoring these HR issues for too long could seriously hurt your startup when it comes time to scale up.

Our two guests today have years of experience dealing with HR processes in startups and fully understand how important they can be. The first is Mike Kelly, a serial entrepreneur, investor and co-founder of DeveloperTown, which helps companies large and small build and launch tech products. Joining him is Dawn Lively, a long-time HR professional and COO of FullStack, a turnkey HR solution designed especially for emerging tech companies.

On this episode of the Igniting Startups podcast, Dawn and Mike explain why founders need to think about their HR policies and walk me through the essential processes any fast-growing startup should have in place to compete and grow in their market. We discuss how to keep teams running efficiently with clear-cut management processes, what policies you need to prioritize to hire and retain skilled talent, and which tasks you should try to outsource to HR service providers when you’re able.

In this episode with Dawn Lively and Mike Kelly, you’ll learn:

Why tech companies need good HR practices to attract and retain talent.

--- How to balance your HR policies for the best impact on your team.

--- Strategies and advice for building a winning company culture.

--- How to handle performance reviews and the ideal way to let an employee go.

--- Which team management and HR tasks you should try to outsource.

--- The power of team rituals for developing culture.

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

Situated at the base of the Rocky Mountains in Colorado, Denver and Boulder have long been popular destinations for people in search of beautiful scenery, fresh air, good food and healthy living. And over the past decade, they’ve also become choice cities for entrepreneurs looking to build the next generation of innovative tech companies outside Silicon Valley.

Bolstered by the influence of the global seed accelerator Techstars and the local presence of large corporations like Comcast, Amazon and Google, Denver and Boulder have attracted a healthy entrepreneurial ecosystem that thrives on their tight-knit communities and high standards of living. Together, these economically-connected urban centers illustrate how “lifestyle cities” can successfully grow and compete against larger, more established tech environments.

Just last week, the Powderkeg team traveled to Denver to unveil the findings from the 2018 Denver and Boulder Tech Census Reports, the latest in our series of inaugural censuses of rising tech communities between the coasts. While there, we spoke with eight influential members of the Denver and Boulder tech communities to break down how far the two cities have come, what factors have powered their growth and what obstacles they must overcome on their path to continued success.

In this episode with some of Denver and Boulder’s top tech entrepreneurs, investors and thought leaders, you’ll learn:

---How much a fledgling tech community can grow and evolve in five years.

--- Why every tech ecosystem should be focused on attracting diverse talent.

--- How a “give first” mentality among investors can lift entrepreneurial communities.

--- The lifestyle city superpower for attracting entrepreneurs and tech talent.

--- Tactics for large corporations to help lift up the startups in their ecosystem.

--- Expert community-building advice for cities on the brink of a tech explosion.

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

Diversity and inclusion are arguably the most important issues in tech culture right now. Companies on and between the coasts, from startups to global corporations, recognize more and more the positive impacts of improving diversity and inclusion. In fact, our tech censuses in Indianapolis and Cincinnati this year revealed that it’s the top-ranked social issue by members of both communities. Entrepreneurs, investors, and industry leaders are making efforts to honestly assess the state of diversity and inclusion in tech and, more importantly, determine how to create a brighter and more inclusive future.

With this national trend in mind, we held a special pitch night in Indianapolis earlier this month called “Diversity, Inclusion, and the Future of Tech.” As part of our programming, we brought on a guest host and a panel of three champions for diversity in the local community. The conversation was so timely and full of wonderful insights that we decided it needed to be shared with the entire Powderkeg community.

In this episode of the Igniting Startups podcast, Kelli Jones of Givelify leads Danielle Vetter of Cummins, Kelly Schwedland of Elevate Ventures and Rochelle Olaleye of Salesforce in assessing the state of diversity and inclusion in tech today. Over the course of an inspirational and informative discussion, they ultimately explain what entrepreneurs, investors, and business leaders can do to help make their companies and communities more diverse, more inclusive, and more welcoming of different perspectives. And it’s not about optics. It’s about building high-performing companies that attract the best talent and understand their customers’ needs.

In this episode with four champions for diversity and inclusion in tech, you’ll learn:

--- Keyways companies can empower team managers to drive diversity and inclusion.

--- How diverse founders can build “venture-backable” companies to help secure funding.

--- Strategies for weaving diversity and inclusion into your company’s day-to-day operations.

--- The best hiring practices for attracting and retaining diverse talent.

--- Why you should make time to listen to everyone on your team.

--- The crucial role training plays in promoting diversity and inclusion.

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

Building a mature, flourishing tech ecosystem is far from an easy task. It takes the unwavering dedication of many talented people over many years, and success is never a guarantee. But it can be done, and those working “in the trenches” of tech entrepreneurship can look to other communities that are a few steps ahead on this journey for guidance and inspiration.

Cincinnati is one such community. Nestled along the Ohio River and close to the borders of Indiana and Kentucky, Cincinnati harbors a fast-growing tech ecosystem that’s fueled by four nearby universities, large national companies such as P&G and Kroger, and dozens of innovative, venture-backed startups. The product of more than a decade of hard work and local initiatives, Cincinnati serves as a prime example of how to build a world-class tech ecosystem in the Midwest.

During Techstars’ Cincinnati Startup Week, the entire Powderkeg team traveled to Cincy to unveil the findings of the just-released 2018 Cincinnati Tech Census Report. While there, we spoke with eight influential members of the Cincinnati tech community, from entrepreneurs and investors to journalists and thought leaders, to break down the factors that have powered the growth of Cincinnati’s tech sector and highlight lessons for other communities across the country.

In this episode with some of Cincinnati’s top tech entrepreneurs, investors and thought leaders, you’ll learn:

--- Cincinnati’s secrets for attracting and retaining entrepreneurs and tech talent

--- Why tech investors are committing more than ever to diversity

--- The important role young people play in the growth of tech communities

--- How large companies and startups can work together for mutual benefit

--- Key steps a city must take to build a thriving entrepreneurial community

--- A few of the most innovative Cincinnati-based startups to keep your eye on

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.

When tech startups use each other’s products and services, they give each other added opportunities to grow, and the entire startup community gets a lift. There’s good reason, then, for tech communities to support cross-selling between companies at the local, regional, and national level. Furthermore, there’s plenty that entrepreneurs, investors, and talent can do to help support this goal.

Take our first guests on this episode, John Francis and Clay Gordon, the founding partners of Stout Street Capital in Denver. As venture capital fund managers, they’re dedicated to building meaningful cross-selling opportunities among their portfolio companies. Doing so enriches the startup ecosystem in the Rocky Mountain region and beyond. Joining them are founders Kirsten Moorefield, COO of Cincinnati-based Cloverleaf, and Jeb Banner, CEO of the Indianapolis startup Boardable, who have each developed products centered on relationship-building and are active participants in their local tech communities.

Our four guests today take us on a journey into the world of tech community cross-selling, illustrating how everyone involved in the industry can take steps to raise each other up. We discuss cross-selling from the perspective of both entrepreneurs and investors, touch on the role played by relationships and team building, and even get into some practical advice for marketing and business development.

In this episode with John Francis, Clay Gordon, Kirsten Moorefield and Jeb Banner, you’ll learn:

Why starting a venture capital firm is a lot like starting a company (5:50).

How Stout Street Capital is helping to grow cross-selling tech networks across the country (11:50).

Boardable’s best tips and strategies for marketing through affiliate networks (13:45).

Why Cloverleaf’s whole business is founded on relationships and team building (24:35),

Signs that your company has or hasn’t yet reached product-market fit (35:22).

The best things Denver, Cincinnati, and Indianapolis have to offer for tech startups (42:04).

If you like this episode, please subscribe and leave us a review on iTunes. You can also follow us on Soundcloud or Stitcher. We have an incredible lineup of interviews we’ll be releasing every Tuesday here on the Powderkeg Podcast. Check it out at powderkeg.com/itunes.