Startups

Geoff Davis, founder and CEO of Unitus, explains the meaning of microfinance and the huge potential and impact the field has. He goes on to discuss the difference between microfinance and micro credit. He reveals that microfinance has a huge growth opportunity as it is potentially a five billion dollar market and is currently about a one billion dollar market.

Dunn talks about how the skills that she has acquired in a traditional company like Hewlett Packard will be useful in solving social problems in non-profit ventures.

Draper discusses why the DFJ Network was formed. The DFJ Network is looking for 'heroes' with passion and energy to lead a business to change the way the world works.

Brook Byers, partner at KPCB, talks about the diversity of the VC industry and uses a biological metaphor to compare the industry to an ecosystem.

Byers discusses the number of co-investors one should approach and suggests that while going to investors one should know about their investors very well.

Byers discusses the process and the time that it takes for an entrepreneur to earn a standing to the time when he might get financed.

Byers discusses the different ways in which venture capital firms size themselves and makes recommendations on how they should go about investing.

Byers believes that two to three co-investors is a good set for a young venture. An entrepreneur should balance between the number of investors and their minimum stake in the company.

Steve Fodor, co-founder of Affymetrix, talks about the importance of continuing the scientific research within a company despite a perceived monopoly of the field. The most important thing is not intellectual property, but development of good products.

Peter Seligmann, co-founder, chairman and CEO of Conservation International, talks about how he got interested in forestry. He discusses how Conservation International got started and the company's motto.

Seligmann talks about how a not-for-profit organization like Conservation International builds its credibility when interacting with governments of other countries.

Doerr talks about how Grameen Bank, started by Professor Muhammad Yunus, proved to be a creative solution to the never-ending problem of poverty for many small villages in Bangladesh. Doerr shares the story of finding this solution and the ideas behind how the bank came to be formed.

Doerr offers advice on pursuing initial VC funding, including how many firms to approach, how to evaluate the firms, and what kinds of questions to ask. He also reminds us to treat all negotiations with respect and fairness.

Fleury talks about how along with financial backing, VC's have a unique body of knowledge that is highly useful for anyone starting their own business.

The logic behind backing a company that does not charge anything for their product is sometimes hard to understand. Fenton explains the unique relationships between a venture capital firm and an open source company they fund.

Verma talks about how the biggest mistake when identifying a market segment is not identifying the customer with the purchasing power. Your original market can be narrow, and will eventually grow, he says, but only if the correct customers are targeted. Find out who is making the final decisions about a purchase.

When listing his first two lessons for aspiring entrepreneurs, Verma says you must love what you're doing, and you must listen to the customer. The customer is always right, he adds.

Verma explains the different situations in which venture capital might be a better funding option, including the desire to scale quickly. He also points out some of the drawbacks as well.

Verma talks about how the initial idea of wanting to track children to cut down on kidnappings and lost children led to Savi's current technology. Along the way, they learned about marketing, R&D, and funding.

Amidst all of the bad stories circulating about venture capital funding, Randy insists that there are many VCs who are truly interested in the success of a company and will treat entrepreneurs fairly and with respect.

Failure is a good thing, says AuctionDrop's Randy Adams, as it can be a much needed catalyst to make the budding business person strong, humble, and innovative. Think of it as a reset, he says, and something to make one re-evaluate and reset a current course of action. And furthermore, he advises, never, ever quit. Stick around until you get thrown out. And if you get thrown out, compete.

Kawasaki talks about marketing and product design simplified. Kawasaki explains why this theory is all an entrepreneur will need to know about marketing. A simple chart illustrates his point - how to be the creator of a unique product or service and is valuable to a customer.

If a product or services is worthwhile, then evangelists will come to you, says Kawasaki. He believes that if you are having a hard time finding someone to spread the message about your product, then you may need to re-evaluate your product or your goals. Build something great, and the evangelists will be there.

Kawasaki talks about two examples of early-stage funding, bootstrapping and venture capital, and the benefits and drawbacks of both. Ultimately, he believes that too much money is worse than not enough money, and that both methods can be successful of a smart approach is taken with the funds that are received.