Steve Blank

Pioneering Women in Venture Capital: Kathryn Gould

Steve Blank

Kathryn has been the founding VP of Marketing of Oracle , a successful recruiter, a world class Venture Capitalist, a co-founder of a Venture Capital firm, a great board member, one of my mentors and most importantly a wonderful friend. So I started Foundation Capital in 1995.

The Rise of Chinese Venture Capital – (Part 3 of 5)

Steve Blank

This post is about the rise of Chinese venture capital and how it helped build the countries entrepreneurial ecosystem. The Rise of Chinese Venture Capital. SBIR and STTR programs, the Torch Program’s funding for new ventures was limited to seed funding the front end.

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What Founders Need to Know: You Were Funded for a Liquidity Event – Start Looking

Steve Blank

Luckily in the last quarter of the 20 th century a new source of money called risk capital emerged. Risk capital takes equity (stock ownership) in your company instead of debt (loans) in exchange for cash. Filed under: Technology , Venture Capital.

What Do I Do Now? The Startup Lifecycle

Steve Blank

Venture-backed startups will often have a Series C or D or later rounds during this phase. Filed under: Family/Career/Culture , Lean LaunchPad , Venture Capital. Family/Career/Culture Lean LaunchPad Venture Capital

It’s About Women Running Startups

Steve Blank

I thought we were going to talk about her product progress, so I was a bit taken aback by her most pressing question, “Why is it so hard for a woman to still get taken seriously by a venture capitalist?”. What role does venture capital play?

Free Reprints of “Why the Lean Startup Changes Everything”

Steve Blank

Filed under: Big Companies versus Startups: Durant versus Sloan , Business Model versus Business Plan , Customer Development , Customer Development Manifesto , Lean LaunchPad , Teaching , Venture Capital.

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Intel Disrupted: Why large companies find it difficult to innovate, and what they can do about it

Steve Blank

As a consequence, corporations used metrics like return on net assets (RONA), return on capital deployed, and internal rate of return (IRR) to measure efficiency. Risk capital has provided financing for new ideas in the form of startups.

How Investors Make Better Decisions: The Investment Readiness Level

Steve Blank

When I first read about the Investment Readiness Level (IRL) on Steve’s blog, I was excited by Steve’s attempt to bridge the capital-efficient Lean Startup process for founders with the capital-raising process for funders.

A New Way to Look at Competitors

Steve Blank

Then they annotated the private companies with the amount of private capital they had raised. Filed under: Customer Development , Teaching , Venture Capital. Customer Development Teaching Venture Capital

Office of Naval Research (ONR) Goes Lean

Steve Blank

He wanted to build an innovation pipeline that would allow the Navy to: Create “dual-use” products (build solutions that could be used for the military but also sold commercially, and attract venture capital investments.)

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Fund Raising is a Means Not an End

Steve Blank

If you don’t have scale as a goal then you shouldn’t be raising money from angel or venture investors, you should be getting a commercial or government small business loan.). • Search. These sources are a lot more forgiving of iterations and pivots than later-stage venture-capital funds.

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Don’t Give Away Your Board Seats

Steve Blank

That said, professional venture capital firms that lead a Series investment round usually make their investment contingent on a board seat. Filed under: Venture Capital. Venture Capital

Bigger in Bend – Building a Regional Startup Cluster–part 1 of 3

Steve Blank

When Customer Development and the Lean Startup were just a sketch on the napkin, Dino Vendetti, a VC at Bay Partners, was one of the first venture capitalists I shared my ideas with. Part 2: Early-stage Regional Venture Funds. Bend needed its own venture firm.

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Innovation, Change and the Rest of Your Life

Steve Blank

the wave of semiconductor startups in the 1960’s/70’s, the emergence of Venture Capital as a professional industry, the personal computer revolution in 1980’s, the rise of the Internet in the 1990’s and finally. The flood of risk capital into startups at a size and scale that was not only unimaginable at its start, but in the middle of the 20 th century would have seemed laughable. First, Venture Capital and angel investing is no longer a U.S.

When Hell Froze Over – in the Harvard Business Review

Steve Blank

There was nothing suggesting that startups and new ventures needed their own tools and techniques, different from those written about in HBR or taught in business schools. “I refuse to join any club that would have me as a member.” ” Groucho Marx.

Startup Communities – Building Regional Clusters

Steve Blank

He then busts the myths clusters tell themselves; “lets be like Silicon Valley” and the “there’s not enough capital here.”. As venture capital exists to service startup when great startups are built investors will show up.”

China – The Sleeper Awakens (Part 1 of 5)

Steve Blank

China has embraced state capitalism in a way Wall Street can only dream about. Startups, Venture Capital and the Communist Party: how did this happen in China? As we’ll see later, the MOF (Ministry of Finance) also has had a hand in funding new ventures.

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China Startups – The Gold Rush and Fire Extinguishers (Part 5 of 5)

Steve Blank

The downside is that with so much venture and angel capital available, investors have been willing to fund the 10 th Groupon clone. Turnover of employees in capital in Beijing is very high. The motivations are the same – profit – driven by entrepreneurs and venture finance.

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Engineering a Regional Tech Cluster-part 3 of 3 of Bigger in Bend

Steve Blank

Part 2: Early-stage Regional Venture Funds. But today we are intentionally engineering six distinct activities to support this tech cluster: entrepreneurial density, university, transportation, capital, accelerator, and business community. Local Early-Stage Risk Capital.

Innovation Outposts and The Evolution of Corporate R&D

Steve Blank

Evangelos has spent the last 15 years as a Venture Capitalist, first at Apax Partners and later at Trident Capital. Venture capital firms, as we know them only date back to the 1970s.) Companies built corporate venture capital and business development groups.

The Innovation Insurgency Scales – Hacking For Defense (H4D)

Steve Blank

The CIA set up In-Q-Tel to be the venture capital arm of the intelligence community to speed the insertion of technologies. Hacking for Defense is a battle-tested problem-solving methodology that runs at Silicon Valley speed.

How to Set Up a Corporate Innovation Outpost That Works

Steve Blank

These Technology Connectors will have deep business development (partnering) experience so that they can network broadly within the startup ecosystem with entrepreneurs, startup management teams, venture investors and other intermediaries.

Corporate Acquisitions of Startups: Why Do They Fail?

Steve Blank

In response, venture capital firms like Sequoia and Andreessen/Horowitz are hiring new partners just to work with their portfolio companies and match them to corporations. Not all new ventures are at the same stage of maturity.

The Helsinki Spring

Steve Blank

—— I was invited to Finland as part of Stanford’s Engineering Technology Venture Program partnership with Aalto University. Startup Accelerators: Startup Sauna and Vigo which includes Lifeline Ventures , KoppiCatch , and Veturi. 9-to-5 Venture Capital.

Why the Navy Needs Disruption Now (part 2 of 2)

Steve Blank

The Navy needs a portfolio of Horizon 3 bets , for the same reason venture capital and large companies have a portfolio of Horizon 3 bets – most of these bets will fail – but the ones that succeed are game changers.

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ESADE Business School Commencement Speech

Steve Blank

According to Schumpter, capitalism is an evolutionary process where new industries and new companies continually emerge to knock out the old. As the venture capital business has come roaring back in the last 5 years, startups are awash in available capital.

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Why Facebook is Killing Silicon Valley

Steve Blank

Our extended teaching team includes venture capitalists with decades of experience. Facebook has adroitly capitalized on market forces on a scale never seen in the history of commerce. And as Clean Tech VC’s have painfully learned, trying to scale Clean Tech past demonstration plants to industrial scale takes capital and time past the resources of venture capital. I’m an investor in many of these venture firms.) Filed under: Technology , Venture Capital.

Lean Goes Better with Coke – the Future of Corporate Innovation

Steve Blank

Companies will have to maintain a portfolio of new business model initiatives, not unlike a venture capital firm, and they will have to accept that maybe only 1 out 10 initiatives might succeed.

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The Next Bubble – Don’t Get Fooled Again

Steve Blank

In the stealth phase , prescient angel investors and Venture Capitalists (VCs) start investing in an industry or market segment that others have not yet found. Filed under: Venture Capital. Venture Capital

Early-stage Regional Venture Funds–part 2 of 3 of Bigger in Bend

Steve Blank

Part 2: Early-stage Regional Venture Funds. as a distribution channel have vastly reduced the amount of capital a startup needs at the early stage when the risk is greatest. What’s Missing Is Early Stage Capital. Regions are missing early-stage capital.

Moneyball and the Investment Readiness Level-video

Steve Blank

I observed that now that we’ve built software to instrument and monitor the progress of new ventures (using LaunchPad Central ), that we are entering the world of evidence-based entrepreneurship and the Investment Readiness Level.

Doubling Down On a Good Thing: The National Science Foundation’s I-Corps Lite

Steve Blank

The SBIR/STTR program made ~6,200 seed stage investments in 2014, dwarfing the seed investments made by venture capital. startups that don’t fit whatever’s hot in venture capital. I’ve known Edmund Pendleton from the University of Maryland as the Director of the D.C.

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Eureka! A New Era for Scientists and Engineers

Steve Blank

The combination of Venture Capital and technology entrepreneurship is one of the great business inventions of the last 50 years. Filed under: Lean LaunchPad , Teaching , Venture Capital. Lean LaunchPad Teaching Venture Capital

A Visitors Guide to Silicon Valley

Steve Blank

If you’re a visiting dignitary whose country has a Gross National Product equal to or greater than the State of California, your visit to Silicon Valley consists of a lunch/dinner with some combination of the founders of Google, Facebook, Apple and Twitter and several brand name venture capitalists.

The Future of Corporate Innovation and Entrepreneurship

Steve Blank

Companies will have to maintain a portfolio of new business model initiatives, not unlike a venture capital firm, and they will have to accept that maybe only 1 out 10 initiatives might succeed.

The $10 million Photo and other VC Stories

Steve Blank

When we were trying to raise money for E.piphany, my last startup, I was negotiating with a venture capital firm called Infinity Capital. Filed under: E.piphany , Venture Capital. E.piphany Venture Capital

University of Minnesota Commencement speech – May 10th 2013

Steve Blank

As it turned out, rather than run me out of town, the two venture capital firms that had lost $12 million in my failed startup actually asked me to work with them again. I am honored to be with you as we gather to celebrate your graduation.

Hacking for Defense @ Stanford – Week 7

Steve Blank

Examples are a company-owned manufacturing facility, big data or machine learning engineers, DOD proposal writers, venture capital, etc. We just held our seventh week of the Hacking for Defense class.

Hacking for Defense @ Stanford – Weeks 8 and 9

Steve Blank

Understanding the left-side of the mission model canvas ( activities, resources , partners , and costs) forces all teams to ask, “Are we building a product for a DOD/IC customer only or do we have a “dual-use” product that could be sold commercially and get funded by venture capital?”.

Entrepreneurs are Everywhere Show No. 35: Jessica Mah and Peggy Burke

Steve Blank

And, Pitch Johnson who was the chairman of the board at Boole & Babbage and a venture capitalist, took me around and introduced me to every venture capital firm in Silicon Valley at the time. I started working with startups and venture capitalists.