Curtis Hawkins’ Post

The Chicken, the Egg, and the Valley of Death When my colleague Mark meets with manufacturers, he often asks, “Where does it hurt?”—a question that reveals how FORGE can best support them. If I posed the same question to Connecticut startups, most would answer: funding. Since launching the FORGE CT office, I’ve observed that funding is the core challenge for hard-tech startups, who often arrive with a prototype but lack the customer traction venture capitalists look for. This creates a classic chicken-and-egg scenario: startups need funding to gain customers, yet they need customers to secure funding. This gap, often called the "valley of death," is exacerbated by media portrayals that can mislead early-stage entrepreneurs. In reality, most successful companies bridge the gap from idea to VC-backed startup through strategic skill-building rather than early VC funding. Startups often turn to friends, family, or small grants to get their prototype going. But scaling to production often requires larger sums. Connecticut’s Commissioner and Chief Innovation Officer in the Connecticut Department of Economic and Community Development (DECD), Daniel O'Keefe, understands this issue deeply and is an advocate for building a strong support network for startups. Recently, during a Q&A, O’Keefe acknowledged that while the state won’t become a direct venture fund, he is committed to strengthening Entrepreneurship Support Organizations (ESOs) that empower startups. O’Keefe pointed to Connecticut Innovations (CI), the state’s venture capital arm, as a lifeline for investment-ready startups, but noted that bridging the funding gap is still critical. We raised this issue with Paul S. Lavoie, Connecticut’s Chief Manufacturing Officer, and the Manufacturing Innovation Fund (MIF). Given our mission to connect hard-tech startups with Connecticut manufacturers, we’re grateful that MIF awarded FORGE funds to provide non-dilutive grants of $30K to $100K for local startups. This funding could be transformative, enabling startups to achieve small-scale production in-state, reach customers, and appeal to venture capital sources like CI. In essence, the valley of death poses a significant challenge, but with support from MIF and the DECD, FORGE is helping to create a clearer path forward. FORGE is dedicated to providing both funding and essential resources to Connecticut startups, enabling them to thrive in the state’s innovation ecosystem. On November 21, FORGE, joined by Dan O’Keefe, will announce the first recipient of MIF non-dilutive funding at CT Innovation Nights at CoCreate GE Appliances, a Haier company in Stamford, CT. Register here https://lnkd.in/ekSCgiZk to join us, and learn more about FORGE Connecticut’s impact on our website www.forgeimpact.org.

Startups Are Still Buying Fewer Startups Joanna Glasner March 8, 2024 Joanna Glasner jglasner 12 Shares Email Facebook Twitter LinkedIn For venture-backed startups, it’s historically rather common to wind up selling to another startup. Lately, however, the pace of these deals has been slowing down. In all of 2023, just over 650 funded startups globally were acquired by other funded startups, per  Crunchbase data, the lowest total in three years. This year, meanwhile, is off to a similarly slow start, as charted below: Smaller deals Disclosed deal sizes have also been skewing smaller. True, there are exceptions, like Databricks’ $1.3 billion purchase of MosaicML last summer. But overall, the median disclosed-size deal in 2023 was around $30 million, down from about $40 million in 2022. The disclosed numbers provide a very limited view, however. That’s because in the vast majority of these deals, buyers don’t reveal what they paid. Even so, it’s likely few are home-run exits. Generally speaking, when a startup buys another startup during a tough fundraising environment, the acquired company’s founders and investors aren’t getting a huge return on their investment, observed Healy Jones, vice president of financial strategy at startup advisory firm Kruze Consulting. Rather, in an environment of falling startup valuations across many sectors, the goal for a sale tends to be more modest. If an acquisition can make investors whole, generate some return for founders, and provide employees with good jobs going forward, it’s commonly considered worth pursuing. Big acquirers aren’t biting https://lnkd.in/eCbPa8Tr

🌐 The Startup Network Effect: How New Ventures Are Upleveling Each Other 🚀 The startup ecosystem is more interconnected than ever, creating an exciting "upleveling cycle" where each generation of startups builds on the success and innovation of the ones that came before. We’re seeing new startups emerge directly from the networks, platforms, and frameworks pioneered by earlier companies, creating a virtuous cycle of innovation and opportunity. Here’s how this startup network effect works: 1️⃣ Cross-Pollination of Talent & Ideas: Many founders and team members from established startups move on to create their own ventures, bringing with them experience, vision, and know-how. These "startup alums" often adopt and improve on the practices, tools, and frameworks they helped build, adding a new layer of sophistication to their new businesses. 2️⃣ Built on Shared Platforms: Startups today are being built on platforms created by other startups—think of companies leveraging AWS, Stripe, Slack, and others. These ecosystems not only provide essential infrastructure but also allow newer startups to focus on innovation and specialization instead of building everything from scratch. 3️⃣ Investor Confidence & Community Support: Investors recognize the strength of this network effect. Seeing proven founders and experienced startup team members launching new ventures adds credibility, resulting in strong support for these “spin-off” startups. Meanwhile, startup communities are eager to back new ideas born from the teams and talent that have a track record. 4️⃣ Ecosystem Development: When startups reach certain milestones, they elevate their entire ecosystem. For example, companies creating open-source tools or developer APIs are enabling whole new categories of startups that can scale faster and cheaper, accelerating innovation across the board. 5️⃣ Learning Loops: With each new startup generation, lessons learned (and mistakes made) feed back into the ecosystem, allowing future founders to make more strategic choices. This creates a cycle where each wave of startups is more agile and impactful, driving the whole ecosystem forward. The outcome? An upward spiral where startups aren’t just growing in isolation but are interlinked in ways that strengthen and uplevel the entire network. This is more than just individual success stories; it’s a cumulative transformation of how we innovate, fund, and grow ideas that benefit us all. The next big idea isn’t just coming out of nowhere—it’s being born in this collective cycle. #StartupEcosystem #Innovation #Entrepreneurship #StartupGrowth #Networking #TechStartups #VentureCapital #BuildingTheFuture #CollaborativeGrowth

Day 15: Taking Startups to the Next Level Your Startup Journey Begins Here! Are you ready to grow your tech startup and make it big? Discover how LvlUp Ventures can help you succeed! TL;DR LvlUp Ventures' NextUp program helps tech startups launch and grow. We offer special programs, advice, and money to startups in areas such as AI, the Future of Work, Consumer, Sustainability, and more. Our team has helped many startups succeed, and we can help you too! NextUp: Helping Tech Startups Grow LvlUp Ventures has a special program called NextUp. This program helps tech startups get started and grow. We give advice, support, and money to new companies working with cool tech like AI, Future of Work, Consumer, and Sustainability. Why Us? - $300M: Total value of our companies - 5x: Revenue growth in 6 months - 500%: Increase in company value in 6 months - 90%+: Companies launch faster than expected What is NextUp? NextUp has special programs for tech startups. We help new companies get started and invest in the best ones. Our team gives advice on how to grow, develop products, market, and raise money. Our Team Our team has a lot of experience. We have raised millions of dollars and helped over 25 companies succeed. We know how to help your startup grow. Flexible Program NextUp works with your schedule. Whether you need 12 weeks or 8 months, we tailor our help to your needs. We focus on giving the right advice at the right time. NextUp Pre-Launch NextUp Pre-Launch helps startups that have a plan and product but haven't launched yet. We help them get to market and invest in the best ones. NextUp Scale NextUp Scale helps startups that have already launched and want to grow. We provide advice, mentorship, and support to help them succeed. Join Our Community When you join NextUp, you become part of a big community of entrepreneurs, investors, and partners. We help you connect with the right people and find opportunities. Venture Scout Program Our Venture Scout Program lets you find and invest in new companies. Scouts get rewards when we invest in the companies they find. SPVs, aka Special Purpose Vehicle Opportunities LvlUp Ventures offers special investment opportunities. Accredited investors can invest in our best startups and get great returns. Join Us Today Ready to grow your startup? Apply now to join the NextUp program and become part of our community. Apply Now: - NextUp Pre-Launch (https://lnkd.in/gmVV87Yu) - NextUp Scale: (https://lnkd.in/gNdaMuft) - Venture Scouts: (https://lnkd.in/gc_jqGZN) - SPVs: (https://www.lvlup.vc/spvs) How can the NextUp program help your startup grow? Share your thoughts and let’s create the future together! Let’s make these next 100 days impactful and DOPE! P.S. Want to get involved? If this resonates, repost, to share with others ♻️ and follow Javy Martinez for more in the future.

Fueling the Future: Antler Korea's Bold Investment in Startups Pioneering Progress with Antler Korea In an inspiring move, Antler Korea's leadership, Sa-eun Jeong and Ji Ho Kang, have announced an impressive investment in 9 trailblazing startups from their 3rd Startup Generator Program. Each startup has secured a robust 150 million won in pre-seed funding, setting the stage for their debut at the upcoming Antler Investor Day. Global Vision, Local Impact Antler, a global venture capital powerhouse, has been a catalyst for innovation, with its Startup Generator program fostering entrepreneurial talent in over 30 international hubs. Since its inception in Singapore, Antler has been at the forefront of the startup ecosystem, supporting over 1,000 startups and making a monumental impact with a portfolio value nearing 3 trillion won. Antler Korea's Strategic Growth Within just two years of its Korean launch, Antler Korea has dynamically invested in 33 startups, demonstrating a commitment to nurturing early-stage innovation. The success of its portfolio companies, many of which are securing significant follow-up investments, highlights the program's effectiveness and strategic vision. A Diverse Portfolio of Innovation The third installment of Antler Korea's program has seen a diverse range of startups, from R&D innovators to e-commerce disruptors, each selected for their clear business propositions and market potential. This strategic investment approach is a testament to Antler Korea's ability to identify and nurture startups poised for growth and sustainability. Join the Innovation Wave As Antler Korea gears up for its 4th program, the search for the next cohort of visionary entrepreneurs is on. With a keen eye for pioneering solutions and sustainable business models, Antler Korea is poised to further its impact on the global startup landscape. We Want to Hear from You! Have you encountered challenges or triumphs in the startup world? What strategies have propelled your journey in innovation and growth? Share your experiences and join the conversation on the future of startups and venture capital. Philip Carpel, Riccardo Arrigoni, Daria Sizova, Ryan Mesches, Alejandro Bastida Díez, Nathalie Tenne, Surbhi Krishna Singh, Sebastian Shariati, Craig Watkins, Vadym Erhard, Sabrina Wetterkamp, Peter Phillips, Mikkel Kjærulf Nielsen, Mustafa Watar, Luca Mohammadi, Rashed Albalooshi, Elena Marcos, Giorgia Tomasello, Håvard Lindtvedt, Tanja Sloane Munro, Raymond Cheng, Anna Lundberg, Martin Fernandez de Labastida, Tim Miksche, Kalle Johansson, Shawn Pang. #Innovation #StartupGrowth #AntlerKorea #MondayFunding

Maria 01 startups surpass €1 billion in funding amid Finland’s startup surge Maria 01, the Nordics’ largest startup hub, has announced a milestone achievement. Its member and alumni startups have collectively raised over €1 billion in funding since 2016, reflecting the hub’s growing role in Finland’s innovation landscape. The funding milestone underscores Maria 01’s position as a key driver in early-stage venture capital investments, with member and alumni companies accounting for nearly 40% of such funding annually in Finland. Amid economic challenges, the hub continues to attract a record number of membership applications, particularly from startups in health tech, gaming, and AI, highlighting the resilience and adaptability of Finland’s startup ecosystem. https://lnkd.in/dXx47ggq Sarita Runeberg Helsingin kaupunki – Helsingfors stad – City of Helsinki #nordicmade #finland #community #startups #startuphub #trending

PedalStart has announced the launch of its latest flagship initiative ‘PedalCircle’ – India’s first-of-its-kind cohort-based offline program focused on #accelerating the journeys of early-stage start-ups from Proof-of-Concept (POC) to their maiden round of fundraising. This three-month long groundbreaking in-person innovation hub program will be held in Bengaluru – India’s undisputed #startup capital – from March till June 2024. It shall endeavor to empower selected founding teams through unparalleled access to knowledge, mentorship, market access, infrastructure and growth capital, and beyond – all aimed at fast-tracking and multiplying the progress of their ventures. Even after completion of the PedalCircle #cohort, the startups will continue getting access to PedalStart’s wider founder community platform, consisting of 1600+ entrepreneurs; this lifelong community can be leveraged by them for potential partnerships, knowledge-sharing opportunities, and future growth needs. PedalStart is a platform that solves a single major problem statement of the ecosystem: building startup #founders. The platform helps build founders through their startup ideas, with the help of ex-entrepreneurs, successful startup founders, domain experts, and angel investors. Manas Sunita Pal Aditya Darolia To share your startup story write us on - startup@viestories.com #pedalstart #pedalcircle #startup #funding

As an outsider looking in, I have noticed a peculiar pattern among startups that receive big funding from investors. It seems that once they secure the investment, they tend to spend a big chunk on extravagant office spaces, team-building activities that are often held off-site, and flashy branding efforts aimed at making a big splash at key industry events. 🤫 While I am not an expert in the startup world or the world of finance, I can't help but wonder whether these expenses are the most effective use of the funding they have received. Perhaps this is one of the reasons why startup funding seems to be drying up. 🤔🤔 Regardless, I am intrigued by the behaviour of these companies and would love to learn more about how they can make the best use of their resources to achieve long-term growth and success. #startup #sustainability #funding

5 Strategies To Future-Proof Your Startup! The startup ecosystem continued to demonstrate distress in the first half of 2024, with no signs of recovery to pre-pandemic levels of funding and exit activity. Startup Genome, renowned for its comprehensive database of startup trends and analysis, recently released its 2024 Global Startup Ecosystem Report. The report reveals a subpar performance in startup funding and exits, citing deceleration in funding rounds and lackluster exit performances with a 47% value decrease since 2022. Lauren Perkins author and expert at scaling startups, explores how startups can future-proof their businesses in her latest book Think Like a Brand. Act Like a Startup. I spoke with the author to gather insights on how startups can navigate through market instability and future-proof their startup. Lauren shares, "75% of the founders I've worked with, tanked their startups because they can't create any stability. The whole culture gets very unstable and chaotic, and they have a lot of churn with people and customers." Future-proofing your startup requires a balanced approach that combines the strengths of established brands with the agility of startups. As Lauren Perkins illustrates in Think Like a Brand. Act Like a Startup, by integrating these elements, you can create a dynamic environment that supports sustainable growth and ensures your startup is well-equipped to navigate the challenges of the future. #startup https://lnkd.in/dzUmCKED

Tuesday Tales - The progressive journey of ATF Enable Acceleration Program & Portfolio Startups Turning INR 75 Crores+ into Pure Innovation!   When we first launched the ATF Enable Acceleration Program, the landscape of Assistive Technology (AT) startups was sparse. Identifying and nurturing ventures in this unique space presented its own set of challenges. Our mission was clear: to accelerate and scale startups dedicated to disability empowerment through cutting-edge technology. However, the path was not easy, and the initial years were marked by relentless efforts to find and support visionary innovators. Years down the line, the dedication of our startups, mentors, patrons and the entire ecosystem has borne fruit. The ATF Enable Acceleration Program has emerged as a beacon for AT startups, providing a comprehensive curriculum, personalized mentorship, and access to crucial resources. The success stories from our cohorts are a testament to this transformative journey. When we launched the ATF Enable Acceleration Program, we started with just 3 startups in Cohort 1. Today, as we concluded Cohort 5, we've grown to almost 15 times that number, with a staggering 100x increase in applications received. Today, we are proud to share that ATF Portfolio Startups, spanning 5 Cohorts, have collectively raised over INR 75 Crores! This impressive achievement not only underscores the potential of our program but also highlights the burgeoning promise of the entire AT ecosystem. While we are still on the path to enabling an AT Startup to become a unicorn, the industry itself holds the collective potential of one. The success of our portfolio startups is just the beginning. We are confident that the larger AT ecosystem will continue to flourish, adding even more remarkable numbers to this tally. The attached picture is one of the memories from Cohort 1 wherein Eye-D (one amongst the first set of startups accelerated via program) founders were brainstorming with their tech mentor. Compelling enough? If you are an AT Startup Founder, you can join us and be a part of this journey uphill! Applications for Cohort 6 of the ATF Enable Acceleration Program are now open. The program is supported by NuVentures & Vishnu Foundation TBI This is your chance to join a thriving community of innovators and access a pool of INR 2Cr+ in grants and equity investments. APPLY NOW! Application Form Link- https://lnkd.in/g9Wy7-mx  Deadline: June 12, 2024 Don’t miss this opportunity to be part of a transformative journey. For any queries or concerns, feel free to reach out to us at operations@atflabs.org. #AssistiveTechnology #StartupAcceleration #Innovation #DisabilityEmpowerment #ApplyNow #TechForGood Prateek Madhav | Jawahar Bekay | Ravi Narayan | Krishnamoorthy Ananthasivam | Suryaprakash (Sury)-Infosys | Chahat Dubey | Dr. M.K Kaushik | Venk Krishnan