Today I attended the Kauffman Foundation State of Entrepreneurship address in Washington, D.C. at the National Press Club. The event was packed with range of bootstrap entrepreneurs like myself to high ranking government officials. Kauffman President and CEO Carl Schramm addressed the crowd with a wealth of statistics on entrepreneurship which included the following:
36 percent of entrepreneurs reported reductions in head count in the past year; only 8 percent have added employees.
Nearly two-thirds have seen their sales volume and their profitability decrease.
71 percent of entrepreneurs do not expect to add any new jobs in 2010.
61 percent of entrepreneurs think the economy is on the wrong track.
I covered the event on TECH cocktail (here). I also covered the event real-time on Somewhat Frank Tidbits (here).
This year my New Year's resolution is to be bold and what better way to do that than to start the year off by leaving the solid paycheck, benefits and comfort of a job at Aol. Today is my last day as an Aol employee as I have decided to move on to pursue some of my own entrepreneurial endeavors. It has been just over 3 years since I joined Aol to help bring some "Web 2.0 & social media" perspective and expertise to the Aol team. In Internet years that is about 10 years. My first task was to join the product development team responsible for the myAOL triple threat including a personalized homepage, a feed reader with bookmarking and an innovate recommendation engine. We then went on to launch it in 28+ countries before it turned one. More recently with the launch of AIM Lifestream I saw about 18 months of planning and strategy come to fruition which included work on AIM buddyupdates and the acquisition of SocialThing. I have racked up a lot of airline miles bouncing between DC and the West Coast. It has been a good run and a great learning experience working in a large organization and I have met so many great people along the way. I am proud of our accomplishments at Aol. As anyone who has ever worked at a large company can attest, it is not easy to launch a product in a big organization and I did it a few times in just three years.
This past week we had a super showing at TECH cocktail DC 7 which was previewed in the November issue of DC Magazine. It was great to be able to showcase another handful of local start-ups. With the holidays right around the corner it was great to be able to catchup with a crowd of a couple hundred DC area tech enthusiasts and share in a holiday cocktail.
The event was sponsored by Winamp which has been around awhile but is making a resurgence with it's latest offering. I remember using Winamp back in my fraternity house when we hosted events and festivities (think Animal House but in Indiana). It's great to hear it is continuing to improve the media player experience and platform. As an Intel Insider for going on two years I was also excited and thankful for Intel's support as a sponsor. Intel also kicked off a contest to win a HP Envy Beats laptop over on TECH cocktail. Good luck to everyone that enters, contest ends December 17th at midnight EST.
With Thanksgiving and the holiday season fast approaching, it is a time for reflection and gratitude. I thought it would be the perfect time to share with you a product I have been working on which is focused on spreading happiness through gratitude. Personally, this year has been full of change which is sometimes tough to handle, so "feel good" projects have helped me to focus on the good things in life.
With the help of my partner Jen Consalvo and our agile development team I recently launched Thankfulfor.com, a social online gratitude journal providing a forum for expressing gratitude routinely as a foundation for happiness and well-being. People come to the site and post what they are thankful for to their personal journal of thanks. People can also choose to send each Thankfulfor post to their social network on Twitter (each post starts with the #thankfulfor hashtag) extending the good vibes far and wide.
This past year I have attended several demo days and covered Launched Box Digital in DC and Dream It Ventures in Philly among others. Yesterday was the demo day for another local incubator, this time it's in Pittsburgh. Yes the "Steel City" has more than just steel these days, as six new start-up companies showed off their stuff as part of the Alpha Labextensive six-month start-up business incubator program. AlphaLab provides funding, free office space, expert business advisors and services during its biannual program in Pittsburgh. Alpha Lab was created by Innovation Works a seed stage investment firm.
It has been a busy last 30 days as we hosted three TECH cocktail events in Chicago, DC and Boston respectively. Starting in Chicago in early August we drew a humongous crowd and showed off 9 new Chicago area start-ups as I previously explained. We did not stop with just Chicago, we continued to plan and host TECH cocktail events the past two weeks in DC and Boston. Both events were very well attended and showcased 17 more start-ups. The events attracted over 1400 guests and showcased 26 startups in 30 days. Not bad as we roll into our fourth year, with the same mission as when we started of "amplifying the local technology signal in local tech communities" while "having fun doing it."
I just wanted to take a moment to thank everyone for coming out to support the last three events in Chicago, DC and Boston. We couldn’t do the events without the support of the local technology community and our fabulous sponsors which included AOL’s AIM & Going.com, BOALT, Saper Law, Jess3, Shiny Heart Ventures, TransFS, SproutBox, Total Attorneys, Chicago Micro, OVAL Vodka and iStrategyLabs. We also had 26 great start-ups demoing at the events.
Philadelphia is known for it's fine dining, cheese steaks and the Liberty Bell but recently has been developing start-ups through the support of DreamIt Ventures, a local summer incubator program. DreamIt Ventures had their second demo day on August 14th and ten new start-ups were unveiled. Like many incubators the second year's class of startups seems to be slightly improved than the previous year.
On Thursday night, Eric Olson and I hosted our 11th TECH cocktail in Chicago. Since we started in Chicago we have seen the event grow from the simple idea of hosting an event to bring together the community and showcase the local start-ups into a premiere event where we can't even find a big enough venue anymore. TECH cocktail 11 had close to 700 paid attendees. We were rather surprised as this is the first event we charged attendees $10 to attend so we thought the event numbers might see a slight dip in attendance. But, this doesn't seem to be the case at all, in fact the stellar attendance further validates what we are doing.
Check out this quick video that gives a (12 second) look at what it was like at the event.
Today I attended the Washington, D.C. start-up incubator Launch Box Digital, where I saw eight new start-ups show off their stuff to a crowd of local investors and media outlets. I attended the event last year and shared my thoughts. No disrespect to last year's class but this year the pitches seemed to be more polished and offered better business models overall.
Here is the full list of the start-ups that launched:
Social Collective - a browser-based service targeted at event marketing and the enhancement of the event experience for both attendees and sponsors.
KeepFu - a simple note-taking and organization tool to help manage consumer-defined “projects” like trip planning, event planning, and important purchases.
SECWatch - offers investors, bloggers, journalists a platform and tool set for digging deeper into SEC filings.
unblab - attack the email overload problem by answering the question “What emails should I be reading”?
Keen Guides - platform for delivering download-able audio short-format, video and audio tours.
BandsInTown - automatically plugs into music players such as iTunes, last.fm, Pandora and other sites to learn your artist preferences, and then lets you track your favorite artists (and related ones) and receive alerts when events of interest are coming to your area. Also looking to sweeten the relationship between ticket buyers and sellers.
TapMetrics - a tool that brings together sales data, user feedback, software metrics, and other information into a consolidated dashboard for mobile apps to allow developers to manage a portfolio of applications quickly and easily.
LegalRiver - offers a free platform to help connect lawyers with clients and clients with lawyers.
Who was my favorite? I don't have one but I do have a little to say about each of them. I like Social Collective since it made SXSW a breeze last year and should help again this year. I also have been using BandsInTown since meeting them a few years ago in Boston at a TECH cocktail event. They have helped me to not miss my favorite bands when they come to town. I think SECWatch and LegalRiver are going to do great since they both seem to be fixing a problem that has not seen a lot of love from consumer facing apps in the past, so they have a pretty open field to grab online real-estate and mindshare. TapMetrics is going to help LOTS of iPhone app developers better understand the metrics side of the game, which will prove to be very important. KeepFu could be interesting if it helps to organize the apps I already use but I will have to test it out further to better understand the power of it. unblab is looking to help fix your email inbox and could be very popular especially if they are able to break into the enterprise space. I am looking forward to testing out the unblab iTriage iPhone application. Keen Guides has a very intriguing business around distributing audio and video tour guides which taps into the travel category and has a very passionate vision focused on helping those with disabilities.
For another take check out what TechCrunch had to say. Finally, it takes a lot courage, determination and drive to start and run your own business so congrats to all the startups and LaunchBox Digital on another great year!
Last week I traveled to the Midwest to Champaign, Illinois to speak to a group of entrepreneurs about building brands and social media as covered by the Champaign News Gazette and to host another TECH cocktail. The event was sponsored by Wolfram Research which is based in Champaign and has been creating products like Mathematica for over 20 years.
Wolfram Research recently received quite a bit of buzz on TechCrunch, GigaOm Network, ReadWriteWeb and Mashable among others for the launch of the consumer facing product called Wolfram Alpha. Wolfram Alpha is a the computational research engine that helps to find anwsers to questions that don't exist on the Web.
How important is influence on the Web? My friend Micah Baldwin recently called Influence the New Hotness. I agree, Influence is hot and it is nothing new though the currency has changed. Just a few years back the most important currency was incoming links to your website, now it is real-time re-tweets via Twitter or "likes" on Facebook's news feed. The social tools today are enabling people to influence the Web via real-time communications.
With Twitter being a hot tool that is empowering people to influence others, I was curious to see just how influential I am on Twitter. Thanks to Filtrbox you can now answer that very question by simply entering your Twitter username and clicking submit. Filtrbox just launched the Twitter Influence Checker today and I got chance to give it a try. It turns out my Twitter account @frankgruber has a Twitter Influence score of 8 out for 10.
I have covered a number of start-up companies in my day as I offer
my somewhat frank opinion, insight and candid perspective in my quest
for new products and services or "shiny objects" as I like to call
them. Two weekends ago, I got a chance to take another look at a
different kind of start-up, one that goes by the name of ELEW (or ELEWW on Twitter). ELEW
is powered by the thunderous energy of jazz pianist Eric Lewis as he
has been innovating on jazz as we know it. Eric Lewis has created a new
niche which takes alternative rock hits and brings them to the piano.
But what makes Eric unique is that when he plays these tunes they
sound like he is being accompanied by an orchestra.
So why is Eric Lewis so interesting? Eric's approach to jazz is an innovative one that
reminds me of a start-up. Eric's disrupts the traditional jazz
system in a way that could fuel some heated debates, similar to how
start-ups can disrupt the flow of business as usual. Eric has also
created a recognizable set-list which helps ensure people can relate to
it. This is similar to the way successful startups often have a clear story that is easy to relate to. Eric has carved out a niche that did not previously exist, which reminds me of the way
Twitter and other start-ups have created a need that users did not even
know they had.
I got a chance to talk with Peter LaMotte of Washington, DC based startup GeniusRocket this past March right after the much debated "Is Spec Work Is Evil?" panel session at SXSW Interactive in Austin, Texas. We discussed GeniusRocket's mission and take on crowdsourcing. GeniusRocket also has an interesting crowdsourcing story about the creative video that SXSW used this year which Peter will also share.
This video interview with Peter LaMotte got lost in the SOMEWHAT FRANK video queue but I just found it and wanted to share the video as episode 76 on SOMEWHAT FRANK. I hope you enjoy our pre-coffee talk at the Crepery in Austin, Texas about crowdsourcing.
I am excited to be speaking at Bootstrap Maryland Conference today on the campus of University of Maryland. My panel session is at 11 a.m. EST (shown below) has a great cast of local thought leaders in the space and we will look to help start-ups and entrepreneurs understand what you can do to get your message about your product, brand or service out there.
It was a pleasure as always to get a chance to sync up with Greg "The Trend Junkie" Cangialosi the CEO of Baltimore-based Blue Sky Factory in San Francisco today. I had him swing by to do his Thursday afternoon live show BlueSkyFactory.tv from the Bebo office.
We discussed a number of topics including start-ups, shiny objects of the Web, bootstrapping, entrepreneurship, building community anywhere, TECH cocktail, SOMEWHAT FRANK and my recent work at AOL as part of the People Network group which includes AIM, Bebo, ICQ and Socialthing and life-streaming products. We are also were joined
by Jean-Paul Cozzatti the Development / Product Engineering Lead at Bebo to talk about the updates for Bebo that went live this past December and February as well as a hint as to what is to come in the coming months.
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