Successful Startup 101: September 2014 Successful Startup 101: September 2014 | Page 53

“Often, we see several similar ideas come to us all
around the same time. Sometimes it’s two or three
of the same general concept, sometimes even five
or six,” says Kim.
“We are always doing our own research to explore
categories and themes we think are interesting
and have pain points that, if addressed, could
open up big new market opportunities. But the
‘aha!’ moment happens when a founder comes in
to pitch and every aspect of their approach seems
to addresses all question marks in our minds.
“Every time we invest, it’s a ‘zing’ moment,”
Kim continues. “The stars seem to align with a
stellar team that has great chemistry and relevant
experience, a unique brand that has potential
to inspire consumers, a differentiated product
that stands to disrupt existing options—and that
unmistakable connection we feel when we just
have to be in business with someone.”
“I think back to 1994,” says Stuart Rudick of
Mindfull Investors. “When Sky Dayton had the idea
of creating an Internet service provider. (I didn’t
know what an ISP was at that moment.) I said ‘no’
during the first round of investment.

“My ‘aha!’ moment was when he came back three
months later and showed me the growth of the
business—which was 3X what he showed me the
first time,” says Rudick. “He was getting traction,
the number of users, and he had beat what his
projections were.”
The company back in 1994, of course, was called
Earthlink.
Rudick’s latest pick is Atheer Labs. Atheer has
technology imbedded in glasswear for augmented
reality. The Atheer software development kit
allows developers to create fully immersive and
interactive 3D enterprise apps on the Android
platform.
“When I saw the power and ability to do it
in real life and real applications in medical,
entertainment, auto industry,” says Rudick, “it
really made me think this is something that will
truly change our lives.”
What venture partners look for is part economics,
part science, and part gut instinct. Generally, every
firm begins with a robust decision framework that
includes key ingredients.

The founder is passionate about their idea.
They have past experience that makes them credible.
The world is dying for their idea, even if they don’t know it yet.
The founder has an unfair advantage.
FOMO. The investor has a fear of missing out on something big.
And finally, what will the exit be? When does the investor get their money back—hopefully
several times the size of their original investment.

It is the purpose of all brands—especially those in the fledgling, start-up stage—to surround themselves with a
community of fans. At first, that community lives on the inside, the nucleus of founder(s) and Employee #2. Over
time, the tenets of community expand, spread, and embrace the world at large. In order for the brand to survive
and become a Brand (capital B), the essentials of community must be communicated, differentiated, and spread
across a diverse set of media from packaging, point of purchase, out-of-home, experience, home page, social
media and (yes) the pitch deck.
The beliefs of the Brand must seep into the world of venture capitalism where, hopefully, the idea is transformed
from another meaningless pitch, into a product enriched with enough purpose and meaning for someone to click
the “Like” button.
Mark Goldstein of Camiolog has funded dozens of Silicon Valley ven