Venture In The South

Innovation is a challenging endeavor, and this challenge is amplified within the corporate setting. Recognizing this, many corporations have established dedicated venture arms to infuse innovation into their organizations. Another approach involves creating specialized innovation entities within corporations, providing a space for cultivating ideas and innovation that operates outside the conventional corporate management framework. Michelin, a global tire company, has adopted both strategies to drive innovation within their organization, aiming to develop new products and services not only in the tire domain but also extending "around tires" and "beyond tires."

In this episode, David engages in a conversation with Brett Owen, the Incubation Partner at Michelin North America and Chief of Staff at the Customer Innovation Lab. We delve into Michelin's distinctive approach to "Intrapreneurship," a strategy aimed at tapping into the innovative potential of their employees. This initiative aligns with Michelin's broader objectives of diversification, extending their focus both "around" and "beyond" tires.

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Fraud may not be prevalent in the venture landscape, but when it does happen it stands out for its audacity, impact, and, at times, surprisingly evident warning signs.

In this episode, David and Paul guide listeners through recent instances of fraud in the venture sector and offer insights on how to identify potential schemes before becoming entangled. The discussion includes a review of the Federal Trade Commission's (FTC) record of enforcement actions and delves into specific cases, such as the alleged fraud involving Charlie Javice in the acquisition of Frank by JP Morgan, the conviction of Michael Rothenburg, often dubbed the 'Party Animal of Silicon Valley,' and other notable examples.

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].

Today's episode marks the third and final installment of interviews with the triumphant winners at VentureAtlanta 2023. Rainforest emerged victorious in the Early Stage pitch competition by addressing a significant gap in the Embedded Payments space. Founder and CEO Joshua Silver sheds light on the practical challenges faced by vendors and retailers in the realm of embedded payments and elaborates on how Rainforest is pioneering solutions through their white-labeled embedded payments platform. Joshua, a seasoned entrepreneur with a successful exit in the payments sector and extensive experience in embedded payments, recently shared the motivation behind starting Rainforest in a compelling blog post.

Despite being a relatively young company at just two years old, Rainforest has built an impressive customer base in the small and medium-sized business (SMB) sector. Their straightforward business model revolves around delivering excellent service with fixed transaction-based fees, devoid of subscription requirements or long-term contracts. The company's momentum is evident, having successfully concluded an oversubscribed $8.5 million Seed round and secured $3.25 million in Venture Debt in Q3 of 2023, positioning them squarely on the path to sustained growth.

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].

Startup investing is a potentially rewarding venture, but, as with all things in life, it requires a combination of time, money, and sound judgment. In today's episode, the focus is on the crucial element of judgment. David takes a deep dive into his 'Cheat Sheet' for startup investing, shedding light on nuanced issues and offering guidance on how to strategically plan startup investment portfolios.

The episode covers a spectrum of essential aspects, including Strategy, Deal Flow, Core Diligence, Deal Size, Investment Instruments, Investment Terms, Tax Benefits, and Diversification. For those seeking more in-depth resources, listeners can access David's Cheat Sheet, an Investment Tracking Spreadsheet Template, and a Guide to Tax-Free Startup Investing by following the provided links.

Tune in to gain valuable insights into navigating the complexities of startup investing and enhancing your decision-making process.

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].

Enrichly emerged victorious in the Seed Stage pitch competition at VentureAtlanta 2023, securing a substantial $500k investment award. The company is dedicated to addressing the pervasive issue of low self-esteem among youth, a challenge linked to poor educational outcomes, social conflicts, and crime. In an engaging interview, David sits down with Margo Jordan, the CEO and Founder of Enrichly, to delve into the complexities of the youth self-esteem problem and how Enrichly has made meaningful strides by collaborating with school districts, law enforcement, and mental health providers.

Margo provides insights into Enrichly's product, detailing their innovative SaaS & Services business model, distribution strategies, and key metrics. Notably, the conversation highlights Enrichly's unique position, with a negative Customer Acquisition Cost (CAC) due to viral customers paying to advocate for the solution. With an impressive 11x growth projected for 2023 and a trajectory expected to continue, Margo outlines the company's ambitious plans for rapid scaling to reach new customers in both the US and the Middle East.

The discussion concludes with a review of Enrichly's future fundraising strategies and the potential for a strategic exit.

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].

Cloud Range tackles the prevalent issue of limited real-world exposure to cyber attacks for cybersecurity teams. In a recent interview, Debbie Gordon, the CEO and founder of Cloud Range, introduces their state-of-the-art cybersecurity attack training platform, establishing itself as a global leader in cyber range training. Debbie's success in the growth category at the VentureAtlanta 2023 pitch competition underscores the platform's significance.

The Cloud Range platform empowers cyber defenders to simulate live cyber attacks within a controlled environment, refining their capabilities in detection, investigation, and response. Operating on a Software as a Service (SaaS) model, Cloud Range has achieved remarkable success, boasting a substantial 300% year-over-year revenue growth for both 2022 and 2023. Projections suggest an even more impressive 400% surge in revenue for 2024. Our conversation with Debbie explores key aspects of their business, including the business model, competitive edge, sales strategies, exit potential, and more.

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].

SAFE, an acronym for Simple Agreement for Future Equity, represents a widely adopted investment instrument, with the current industry-standard forms available on the YCombinator website.

In this insightful interview, David engages in a discussion with Matt Dunbar, a Managing Director at VentureSouth and an expert on SAFEs. 

The conversation delves into the origins and purpose of the SAFE, and provides a comprehensive examination of its advantages, disadvantages, and evolution with the post-money SAFE in 2018. 

The discussion further explores the factors contributing to some Angel Investors' reservations about SAFEs, while acknowledging their increasing popularity as a preferred choice in investment agreements.

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].

Additive manufacturing is not a novel concept, but Trio Lab's groundbreaking micro-scale metal additive manufacturing technology has established a new benchmark for precision, speed, cost-effectiveness, and quality, specifically catering to parts less than 1/14th the diameter of a penny. The Resin Infused Powder Lithography (RIPL) process, exclusive to Trio Labs, utilizes standard metal injection molding powders to produce high precision, 99% dense metal parts in substantial volumes. These parts exhibit a Ra32 native surface finish, with tolerances as precise as 0.0005" and a remarkable 5-micron resolution (0.0002”). Following seven years of development, backed by 10 granted patents, 50 pending patents, and over 200 anticipated patents, Trio is poised to enter the market. The company's design flexibility empowers product design to transcend traditional machining and molds, enabling rapid problem-centric design rather than process-centric design. CEO Adam Steege elaborates on the challenges associated with designing and manufacturing highly precise, extremely small metal parts for MedTech, presenting Trio's innovative solution. He provides insights into their scaling strategy, competitive advantages, and a durable value proposition. 

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].

Digital Therapeutics are software-based medical solutions engineered to prevent, manage, or treat various medical disorders or diseases. Leveraging cutting-edge technologies such as artificial intelligence, big data, and machine learning, these platforms provide personalized treatment and support to patients. CEO Robyn Hussa Farrel co-founded Sharpen with her husband, propelling it to a growth stage by implementing a revolutionary research approach focused on addressing mental health disparities.

Sharpen's online platform has demonstrated significant impact, showcasing the ability to (i) mitigate risk and enhance resilience, (ii) improve shared protective factors for suicide, mental disorders, and trauma, (iii) enhance access to and utilization of high-quality mental health care, and (iv) elevate treatment outcomes across diverse populations. The platform boasts a comprehensive library featuring over 600 modules covering more than 200 mental health topics and includes over 4,000 peer-based videos. Explore more about Sharpen's innovative approach HERE.

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].

ATDC is one of the original startup incubators and accelerators in the US. Founded in Atlanta, GA 40 years ago it is supported by the State of Georgia and hosted by Georgia Tech. ATDC Director John Avery walks us through the history and strategic vision of ATDC as Georgia’s technology business incubator, assisting entrepreneurs throughout the state. Using a unique blend of coaching, curriculum, community, and connections, and not just to Georgia Tech and its resources, but also to capital and customers. ATDC helps Georgia startups at various stages navigate the choppy waters of taking an idea from concept to product prototype to launch and ultimately to scale. ATDC annually graduates successful portfolio companies with 48% of ATDC companies having a successful exit. ATDC guides  entrepreneurs through 3 stages of development: Educate, Accelerate, and Signature. Educate embraces entrepreneurs at the very beginning of their startup journey with a targeted three step educational curriculum with ATDC Educate Entrepreneurship 101, ATDC Educate Financial Literacy 102, and ATDC Customer Discovery. This curricula prepares founders for advanced classes on  functional areas such as sales, digital marketing, product development, etc., as well as market-specific classes throughout the year in Industry Program verticals: FinTech, Advanced Manufacturing, HealthTech, 5G, Supply Chain/Logistics, Sustainability, and Robotics & Automation. Accelerate is the Launch stage for entrepreneurs who usually have at least a Minimal Viable Product (MVP) or are beta testing their product, are adding initial customers, and refining their business model. Signature is the growth stage for Accelerate graduates who are usually adding customers, hiring more employees, raising venture funding, and learning to scale their business. In this stage, ATDC is providing connections to industry, customers and capital. For 2017, 2018, and 2019, ATDC’s portfolio Accelerate and Signature companies collectively raised over $100M each year from investors and cumulatively  have raised over $2.9B in capital since 1980. The ATDC Investor Connect Program connects ATDC portfolio companies to Investors with a dedicated program manager who tracks, monitors, and reports on regional and national investment trends and is available for consultations. In addition, ATDC’s coaching staff works with each presenting company to hone and polish their pitch until your pitch and placement materials are perfect. An Angel in Residence is also on-hand to provide experienced guidance. Founders can become members of ATDC for a modest fee and do not give up equity to join the ATDC program.  (recorded 9/7/23)

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We invite your feedback and suggestions at www.ventureinthesouth.com or email [email protected].