Reflections & analysis about innovation, technology, startups, investing, healthcare, and more .... with a focus on Minnesota, Land of 10,000 Lakes. Blogging continuously since 2005.

Category: Venture Capital/M&A/Angels (Page 40 of 54)

Minnebar Rocked!

Excellent speakers and panels, and a great crowd yesterday at our local BarCamp event. More proof that we have a vibrant tech community here in Minnesota! Major expertise, lots of energized developers and entrepreneurs, and some exciting, budding startups in the works.
Also more proof that online and offline community can be mashed up successfully…. Minnebarlogo

It was great to see a top VC firm in state, Split Rock Partners, as one of seven sponsors of Minnebar. I told partner Michael Gorman he blended right in wearing a tee shirt and shorts — love that! 🙂 And I saw him in the Ruby on Rails session that I also attended. (We have an outstanding group of “RonR” developers here, by the way.)

The turnout for the GetGoMN session was fantastic, with Scott Littman and George Reese telling the story behind the recently launched site to support entrepreneurs. Getgologo175w Lots of great questions and input from several people. I’m convinced that promoting Minnebar on the GetGo site contributed to the record attendance. The biggest turnout yet for a BarCamp in this country! Yeeeee-haww!!!

Minnebarrooftop_2 Photo: Beers on the roof with event sponsors John Roberts (left) and Harold Slawik (right) of New Counsel plc, and Bill McLeslie of ipHouse. The event wi-fi was awesome — Bill hooked us up with 7 megabits of bandwidth. Gorgeous day in the Twin Cities — the high hit 83 F!

Minnebarintraining My favorite photo at the event: We start ’em young here in MN. Matt Bauer, ace developer just recruited to MotionBox in NYC (but he didn’t have to move!), shows a developer-in-training how it’s done. Matt had just finished his session on Adobe Flex.

Lots more photos on my Minnebar Flickr set. Other photo sets are linked on the Minnebar site. I suspect you’ll also be able to read some more about the event at the Star-Tribune’s Vita.MN site and in the Pioneer Press, because they both had people covering the event.

Coolest thing I learned at Minnebar? I met a former Google employee (an early employee), who moved back here from the Valley his wife, who was also a Google employee, and he’s about to launch a cool new web app online. Stay tuned….

Kudos again to the three hardest working event organizers on the planet (volunteers, yet!): Dan Grigsby, Ben Edwards, and Luke Francl…and, especially, a great big thank you to the sponsors. This all-day event is an annual thing, but evening events are held throughout the year, too. So, watch for the next “MinneDemo” and come learn and celebrate Minnesota innovation with us!

Made It to Web2.0 Expo – Wow!

It’s a gorgeous day in San Francisco, and I arrived at Moscone West about 11:00 am to find it one crowded place. Still trying to get my bearings, and starting to run into people I know… Web2expo_2 But I was able to bop right into one session before lunch: “Open Source Business Models for Web2.0.” John Roberts, CEO and cofounder of SugarCRM, told us about the non-traditional way his company started: really as a project, then it wasn’t incorporated for almost two years. Funding came even later. “Companies are starting differently these days,” he said. Now, SugarCRM has 100+ employees, 1200 customers in 30 countries, 100,000 users, and 7000 registered developers. How are they 2.0? “We sell subscriptions, not licenses,” he said. “And, as Tim O’Reilly would define it, we trust our users as co-developers.”

Sharing this session with Roberts was Marten Mickos of MySQL. The Web2.0 motto, he said, should be “Fail fast, scale fast” — alluding to how software iterations and testing can be so much faster today. He said MySQL is now up to 50,000 downloads per day. He guesses there are about 30 million developers on the ‘Net today. “That’s 100x my estimate of the number of developers it took to get us this far in the current information society.” He noted that his closed-source competitor has 56,000 paid employees “who go to work each day whether they like it or not.” Whereas MySQL has “50,000 new, passionate amateurs volunteering to help make our product better every day.” Mickos then gave us a rundown of the Web2.0 business models he sees today: (1) do it as a hobby and have fun, (2) get acquired, (3) build traffic and sell ads, (4) build a virtual world and sell premium goods, or (5) build a service and sell subscriptions.

An audience question at the end was interesting, addressed to both speakers: “What’s your revenue per employee?” To which Mickos had this to say: “Neither of us is operating at scale yet. We’re both very popular, but we’re still not at potential as a business model.” Roberts of SugarCRM added: “We’re building our brand.”

eTech: Magical Mystery Tour

I’m off on an adventure tomorrow morning, flying to San Diego again, this time for the O’Reilly Emerging Technology Conference, where I’ll be reporting for Conferenza and posting to this blog. I’m looking forward to running into some old friends, and to an exciting program. The “magic” theme this year should be fascinating, based on the descriptions of some sessions I’ve highlighted below.

Etechlogo200

What technologies are “poised to blast off into the realm of magic?” O’Reilly asks, as it launches its sixth annual eTech event. [It will be the third one I’ve reported on, by the way.] The goal is to “balance pie-in-the-sky theorizing with practical, real-world information and conversation,” says the firm. The format consists of tutorials, breakout sessions, keynotes, and that most revered form of interaction — hallway conversations! — which “will hopefully spark enough unconventional thinking to change how you see your world.” Etechtheme400

The dates are Monday, March 26 through Thursday, March 29, and the venue is the Manchester Grand Hyatt right on the harbor in downtown San Diego. The promise, says O’Reilly, is for you to be able to learn which areas of technology have sufficiently advanced to the level of magic. So, I’m joining more than 1200 technologists, CTOs, hackers, researchers, thinkers, strategists, entrepreneurs, business developers, and VCs that are expected to participate in this year’s event. Grandhyatt I know from years past that the attendees at eTech are top notch — many leading developers, trendsetters, founders, and VCs (definitely a lot names you’d recognize). The strength of eTech, according to O’Reilly, is how it “taps into the creative spirit of all attendees, sparking provocative encounters and productive inspiration that continue long after the conference ends” — and I agree based on personal experience. In addition to the variety of sessions and extra-curricular activities, eTech has an exhibit hall featuring a focused group of about 14 exhibitors and sponsors.

eTech Sessions That Especially Sound Good
So, what are some the talks I’ve flagged out? On the first full day, Tuesday, I plan to catch as many of these as I can (some overlap each other, unfortunately):
• Building a “Web-Scale Computing” Architecture to Meet the Variable Demands of Today’s Business (Amazon Web Services)
• Making Offline Web Applications a Reality (Zimbra)
• Movie Magic: Coming Soon to the Real World Near You (Apple Computer)
• Flickr for Office Docs – Content Syndication through ThinkFree Doc Exchange
• RSS Beyond Blogging – Connecting Applications With Feeds (nSoftware)
• Digital Disney: the Mainstreaming of Web 2.0
• Successful Open Communities on the Internet (Wikia)
• Extreme Productivity in the Enterprise: The User is the Developer is the User (BEA)
• The Myths of Innovation
• Virtualizing the Datacenter with Project Blackbox (Sun)

Then, on Wednesday, we start getting heavier into that magic thing:

• The Coming Age of Magic (ThingM) – Excerpt: “The desktop metaphor is dead … Interaction design is significantly trailing the capabilities of the technology because of how difficult it is to explain what all this new stuff does … The desktop metaphor was useful for twenty years as a way to structure and explain information-processing technology. I propose “magic” as a metaphor for structuring interactions with embedded information processing technology …”

• The Role of Ubiquitous Web 2.0 Technologies in Everyday Life (Danah Boyd) – Excerpt: “While the ‘radical’ practices of young people and the organizational fetishes of technologists are certainly a curiosity to be examined, the real shift is happening in the lives of everyday people without an ounce of reflexivity …”

• Patterns: From Fabrics to Fabrication – Excerpt: “Today, the re-emergence of craft is part of the DIY movement that is discovering new tools for personal fabrication.

And here’s my vote for best named session:
• Scalability: Set Amazon’s Servers on Fire, Not Yours (SmugMug) – Excerpt: “With companies like SmugMug, Flickr, and YouTube growing by leaps and bounds, storage is a vital but expensive ingredient. Building, scaling, and managing large storage installations is cash — and labor –intensive. Amazon provides a simple API that exposes their internal storage architecture at utility prices. Suddenly, anything is possible. Unlimited, always-on storage everywhere in the world.”

• Sufficiently Advanced Magic (MIT Media Lab) – Excerpt: “…magicians and scientists often play on the same borders of the unknown. Magicians, however, do not have to kowtow to the constraints of reality as technologists do … If technology is man’s search to express control over his environment, scientists should look to magicians for inspiration and guidance as to what has engaged people for millennia … they continue to be successful by adapting their techniques and presentations in order to affect people profoundly.”

• Engaging with Web 2.0 Outside the Browser (Adobe) – Excerpt: “Web 2.0 is more than a social networking phenomenon. It’s a renaissance in web development … Rich Internet applications (RIAs), which break out from the traditional page-based web paradigm and currently run in the web browser, will soon be able to run on the desktop, both on and offline, with the ability to access local data and use web services to present an integrated and unique user experience … best practices and techniques that leverage existing web development skills to build and deploy Web 2.0 applications that bridge the Web and desktop … a new application model for content delivery and collaboration … how HTML, JavaScript, PDF, and Flash are coming together in a new project, code-named Apollo.”

• Pipes: A Tool for Remixing the Web (Yahoo!) – Excerpt: “Developers can use Pipes to combine data sources and user input into mashups without having to write code.”

• Web Scale Computing (Amazon Web Services) – Excerpt: “Web 2.0 business models are about competing on ideas, not on resources. Yet over 70% of most startup development effort goes into undifferentiated “heavy lifting”! … Using AWS, developers can build software applications leveraging the same robust, scalable, and reliable technology that powers Amazon’s retail business … 200,000 developers have registered on Amazon’s developer site to create applications based on these services.”

• Ajax Unplugged: Architecture and Tips for Taking Your Applications Offline (Zimbra) – Excerpt: “Looking back, 2006 may have been the year of Ajax … But despite its game-changing hype, Ajax is limited in its usefulness, it only helps people when connected to the Web. Surprisingly enough, people want access to their applications even when they aren’t connected to the Internet …”

And…drum roll…my vote for the funnest sounding session at eTech:
• 1/2 Baked (panel: 500 Hats, Feedburner, First Round Capital, August Capital) – Excerpt: “Half-Baked Dot Com is a participatory exercise in entrepreneurial improv theatre conducted by five teams of startup addicts and judged by an estranged panel of venture capitalists…or several crackpots and D-list bloggers, whomever shows up first … Half-Baked is the latest Web 2.0 craze that’s sweeping the un-conference circuit. Show up early and bring your A-game if you’d like to participate, otherwise bring your camera to record the heinous crime perpetrated on an audience who paid good money to attend this event.”

Finally, on Thursday, I’m seeing several more sessions that I’d like to catch — if I can hang around that long before hittin’ the waves:
• Apollo: Bringing Rich Internet Applications to the Desktop (Adobe)
• Silicon is Invading Medicine (Andy Kessler)
• Lessons Learned in Scaling and Building Social Systems (Yahoo!)
• Web 20-20: Architectural Patterns and Models for the New Internet (Adobe)
• Your Web App as a Text Adventure (Stikkit)
• Web Feed Workflows – Getting the Right Information, to the Right People at the Right Time (Attensa)

Let me know your thoughts about the sessions above, questions you’d like answered, etc. Watch for my blog posts and Flickr pix, too. And, by all means, if you’ll be at eTech yourself, please look me up!

Entrepreneurs: Work on Your Conceptual Metaphors!

Being smack in the middle of Entrepreneurship Week, I can’t think of a better link to point my startup readers to today than this blog post by Will Price, which he published yesterday. Will is a VC at Hummer Winblad Venture Partners. In this very thoughtful piece, he nails one of the most important, yet little talked about, aspects of preparing to pitch VCs. Okay, it’s somewhat academic — yes, we’re talking here about “conceptual metaphors,” people. But this is great stuff! And, after all, conceptual metaphors is really what mathematics is all about, right? So, startup founders out there who are programmers and engineers can especially relate. [There’s a reason, I’ve come to learn, that so many successful entrepreneurs and VCs were math majors, or had a heavy dose of it in engineering school. This piece kind of brings this reality home.]

I now have this post on my Recommended Must-Read List for anyone even thinking about ever approaching VCs for money. Save this link, friends, and learn and practice what it’s telling you. You will need it!

While we’re at it, there’s another great piece you should check out today on Startup Journal: Young Entrepreneurs Face Higher Hurdles — worth reading even if you’re not so young.

We Celebrate Entrepreneurs This Week – Hugged One Lately?

You should, because they’re what makes our world go ’round — well, our economy, that’s for sure. I saw a stat this morning in a Flickr post of Steve Jurvetson’s from his talk at Stanford this weekend. More than 70% of college students today will start a company some time in their life. A remarkable stat, but it comes from the Kaufmann Foundation, so it must be true. [I guess I feel sorry for the other 30%.]

Entrepreneurshipweek

Here’s the lowdown on Entrepreneurship Week, which has Kaufmann all over it. [What an amazing organization, and right here in the Midwest, too, just down I-35 a piece in KC.] And here’s where you can see what’s going on in Minnesota relating to this week’s celebration. [Click the arrow under “Activities” to scroll through everything.]

I’m for sure going to catch the Angel Investing Panel on Wednesday afternoon (after all, I now write for The Angel Journal, so, I’d better). And an event on Tuesday afternoon in St.Paul, featuring Robert Stephens, the founder of Geek Squad, should be great.

Then, I’m also planning to drop in on a talk at the Carlson School by Scott Litman over lunchtime on Thursday, which will look at several things relating to Entrepreneurship in Minnesota. No doubt Scott will talk about the new web site for Minnesota entrepreneurs and small businesses being launched on Wednesday: GetGoMN, which I’ve had the pleasure of being involved with a bit. The StarTribune gave that a nice boost this morning, with a piece on the front page of the business section called Website Calling Business Angels.

Hope to see you at some of these events this week!

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