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Arlan Hamilton
Breakout Sessions
Capstone Conversation
Todd Olson
Since its creation seven years ago, the Innovate Raleigh Summit has been a catalyst for progress. During that time, the work done at the summit has led to positive change for the community, including the addition of the direct flight from RDU to San Francisco. The organization’s co-founders have seen that progress develop firsthand.
Mary-Ann Baldwin and Terri Lomax know how the organization has been a collector and convener of innovative enterprises and thinkers in the Triangle region.
Both opened the 2018 Innovate Raleigh Summit.
“We continue to have a bold vision for our future,” said Baldwin. “But a small group of people can’t do this alone. We need all of you to participate today and help us shape the future.”
Progress begins with a plan. Baldwin spoke about the importance of that plan.
“Take the insight you gain today and help us reach a plan, a plan to be one of the top five innovation hubs in the country,” she said.
Arlan Hamilton
The opening address led into our morning keynote, called A Bold Vision for the Future. We heard an inspiring talk from Arlan Hamilton, the founder and managing partner of Backstage Capital. She took part in a discussion led by Robyn Tomlin, editor of The News & Observer Publishing Company.
Hamilton went from being homeless to a venture capitalist whose fund has invested more than $5 million in companies that have at least one founder who is a woman, person of color, or LGBTQ. Her latest initiative is a $36 million fund dedicated exclusively to black women founders.
She remembered growing up in Texas and always wanting to run her own business.
“There wasn’t a day that went by where I didn’t have some idea for some company,” Hamilton said.
That includes an operation where she started selling candy in the third grade. “I ruled the third grade,” she remembered.
Hamilton discussed starting a magazine in her 20’s. “It was really difficult to launch, but when it was humming, it was really fulfilling,” she said. “I don’t know how to do things half way.”
She told the audience that it is never too late to start a business or pursue a dream.
“I never felt that I couldn’t have a million-dollar venture firm while I was on food stamps,” said Hamilton.
Hamilton, a black lesbian with no college degree or formal educational background, overcame the adversities she has faced in life. She discussed how her firm represents “underestimated” founders.
“People like to use the terms ‘underrepresented’ or ‘underprivileged.’ But there is a negative connotation there,” said Hamilton. “People are underestimated. When you underestimate me, you don’t see me coming.”
Hamilton also talked about her impressions of the Triangle.
“I don’t see a lot of people who are closed off here,” she said. “Place or community is everything when it comes to the success of a startup. But you have to back community up with capital.”
Nationally, Hamilton said .2 percent of all venture capital goes to black women. “That doesn’t jive with me,” she said.
She recommended that companies should have a diverse team from day one. “I would hire a ton of people of different age ranges and different backgrounds,” said Hamilton. “It’s about your competitive edge. They’re seeing things that you aren’t seeing and they’re unlocking the potential for you to make more money.”
As she walked off the stage, Hamilton got a standing ovation from the Innovate Raleigh Summit audience. What a great way to kick off the day!
top
Breakout Sessions
After the keynote, the breakout sessions got underway. There were four sessions, and audience members could select which two they attended.
At The Future of Place, we heard from Kate Pearce, senior planner for the City of Raleigh’s Dorothea Dix Park, and from Leah Burton, director of NC State University’s Centennial Campus Partnership Office & Industry Alliances. Leigh-Kathryn Bonner, founder and CEO of Bee Downtown, moderated.
Pearce talked about the “unparalleled opportunity” there is with Dorothea Dix Park.
“It’s about connecting people to place and creating quality of life,” she said. “I encourage you to become a part of the movement and the momentum behind Dorothea Dix Park.”
Burton talked about the importance of the culture surrounding a thriving innovation district.
At The Future of Funding, we heard from David Gardner, founder and managing partner of Cofounders Capital, Rep. Cynthia Ball, North Carolina General Assembly, and from Aalok Kanani, director of the Capital Coalition. Jon Hayes, founder and CEO of RewardStock, moderated.
“Don’t look at raising capital as a problem, look at it as an opportunity,” Gardner advised. “Think about who would be the best people to go with me on this journey.”
Hayes talked about the importance of pairing up with the right investor.
“Building a business from scratch takes more time than you think it will take and will be more challenging than you think it will be,” he said. “That’s where an investor can be very helpful. They’ll bring their expertise and their guidance.”
At Innovating the Talent Pipeline, we heard from Dr. Paulette Dillard, president of Shaw University, Richard Boyd, founder and CEO of Tanjo, Inc., and Geoff Coltrane, senior education advisor to the Office of North Carolina Governor Roy Cooper. Karl Rectanus, co-founder and CEO of LearnPlatform, moderated.
For Boyd, the question of innovating the talent pipeline came back to funding.
“We’ve got leadership, talent, and education,” he said. “We just need the money component.”
Boyd asked, “What kinds of people do we need to cultivate and make for this future that we can’t predict?”
Coltrane pointed out that 85 percent of the jobs for 2030 haven’t even been invented yet.
In the remaining session, The State of Our Innovation Ecosystem, we heard from Chris Heivly, entrepreneur in residence of Techstars, and Sig Hutchinson, vice chair of the Wake County Board of Commissioners.
Hutchinson discussed the importance of the Chamber’s efforts behind the promotion of diversity, equity, and inclusivity in workplaces across the region.
“The Chamber has been a real leader on this,” he said. “We all win when everyone wins. We all succeed when everyone succeeds.”
Heivly talked about the importance of discussing the startup system anywhere you go.
“It’s about awareness,” he said. “You will find somebody who didn’t know about it.”
top
Capstone Conversation
Our afternoon began with an address from Jason Widen, co-founder of HQ Raleigh and the Board Chair of Innovate Raleigh.
He mentioned how the vision of HQ is to inspire entrepreneurs to grow and deepen their impact.
Widen’s address led into the capstone conversation.
Our president and CEO, Adrienne Cole, took part in the conversation along with Scot Wingo, founder and CEO of Get Spiffy. Brooks Bell, founder and CEO of Brooks Bell, moderated.
Wingo said there is an “awesome” marketing strategy behind promotion the region.
“Every month, we’re a top five this, a top 10 that,” he said.
Cole pointed out how there is an intentional strategy behind telling our story. In partnership with the City of Raleigh, Wake County Economic Development manages a national media campaign with a place-marketing agency to bring brand awareness to Raleigh and Wake County. WCED is a program of the Chamber.
“I’m always bowled over by what is happening in this market,” she said. “We’ve got a really great story to tell.”
Cole also discussed the importance of working with the Wake County Public School System on the talent pipeline.
“We need to prepare our kids for jobs that don’t exist yet,” she said. “There also is an opportunity for entrepreneurs to work with the school system on the talent pipeline. It doesn’t have to be just the large companies.”
Cole also told the audience that the venture funding of startups across the state is up 154 percent so far this year.
top
Todd Olson
The closing keynote was from Todd Olson, the founder and CEO of Pendo, a product cloud that provides user insight, user guidance, and user communication for digital product teams. The company has grown in the last five years from a five-person team housed inside HQ Raleigh to one of the most well-funded companies in North Carolina with more than 200 employees.
“I’d like to think all of us can do it if we focus on the fundamentals,” said Olson. “The fundamentals of any great business start with the market. The number one company killer is a lack of market.”
He encouraged entrepreneurs to stand out and think about the big picture.
“If you set your vision around something near-term focused, you’ll run out of vision,” said Olson. “If no one else is thinking about doing what you’re doing, then there’s not a big market for it. None of you should be scared of competition. The key is to understand how you’re different.”
He said that great cultures make great companies.
“We have a great strategy at Pendo but our culture is what drives the business,” said Olson.
We want to join with our partner, Innovate Raleigh, in thanking the sponsors and everyone who made this year’s Innovate Raleigh Summit such a success. The official Twitter hashtag, #IRSummit18, was the top trending topic in Raleigh for much of the day. The ideas and insight shared at the summit are an integral part of the three major themes of Innovate Raleigh: attracting talent, funding, and building a vibrant and inclusive community. What we learned and accomplished at the summit will go a long way toward building an even stronger entrepreneurial ecosystem in Raleigh.
Mary-Ann Baldwin and Terri Lomax know how the organization has been a collector and convener of innovative enterprises and thinkers in the Triangle region.
Both opened the 2018 Innovate Raleigh Summit.
“We continue to have a bold vision for our future,” said Baldwin. “But a small group of people can’t do this alone. We need all of you to participate today and help us shape the future.”
Progress begins with a plan. Baldwin spoke about the importance of that plan.
“Take the insight you gain today and help us reach a plan, a plan to be one of the top five innovation hubs in the country,” she said.
Arlan Hamilton
The opening address led into our morning keynote, called A Bold Vision for the Future. We heard an inspiring talk from Arlan Hamilton, the founder and managing partner of Backstage Capital. She took part in a discussion led by Robyn Tomlin, editor of The News & Observer Publishing Company.
Hamilton went from being homeless to a venture capitalist whose fund has invested more than $5 million in companies that have at least one founder who is a woman, person of color, or LGBTQ. Her latest initiative is a $36 million fund dedicated exclusively to black women founders.
She remembered growing up in Texas and always wanting to run her own business.
“There wasn’t a day that went by where I didn’t have some idea for some company,” Hamilton said.
That includes an operation where she started selling candy in the third grade. “I ruled the third grade,” she remembered.
Hamilton discussed starting a magazine in her 20’s. “It was really difficult to launch, but when it was humming, it was really fulfilling,” she said. “I don’t know how to do things half way.”
She told the audience that it is never too late to start a business or pursue a dream.
“I never felt that I couldn’t have a million-dollar venture firm while I was on food stamps,” said Hamilton.
Hamilton, a black lesbian with no college degree or formal educational background, overcame the adversities she has faced in life. She discussed how her firm represents “underestimated” founders.
“People like to use the terms ‘underrepresented’ or ‘underprivileged.’ But there is a negative connotation there,” said Hamilton. “People are underestimated. When you underestimate me, you don’t see me coming.”
Hamilton also talked about her impressions of the Triangle.
“I don’t see a lot of people who are closed off here,” she said. “Place or community is everything when it comes to the success of a startup. But you have to back community up with capital.”
Nationally, Hamilton said .2 percent of all venture capital goes to black women. “That doesn’t jive with me,” she said.
She recommended that companies should have a diverse team from day one. “I would hire a ton of people of different age ranges and different backgrounds,” said Hamilton. “It’s about your competitive edge. They’re seeing things that you aren’t seeing and they’re unlocking the potential for you to make more money.”
As she walked off the stage, Hamilton got a standing ovation from the Innovate Raleigh Summit audience. What a great way to kick off the day!
top
Breakout Sessions
After the keynote, the breakout sessions got underway. There were four sessions, and audience members could select which two they attended.
At The Future of Place, we heard from Kate Pearce, senior planner for the City of Raleigh’s Dorothea Dix Park, and from Leah Burton, director of NC State University’s Centennial Campus Partnership Office & Industry Alliances. Leigh-Kathryn Bonner, founder and CEO of Bee Downtown, moderated.
Pearce talked about the “unparalleled opportunity” there is with Dorothea Dix Park.
“It’s about connecting people to place and creating quality of life,” she said. “I encourage you to become a part of the movement and the momentum behind Dorothea Dix Park.”
Burton talked about the importance of the culture surrounding a thriving innovation district.
At The Future of Funding, we heard from David Gardner, founder and managing partner of Cofounders Capital, Rep. Cynthia Ball, North Carolina General Assembly, and from Aalok Kanani, director of the Capital Coalition. Jon Hayes, founder and CEO of RewardStock, moderated.
“Don’t look at raising capital as a problem, look at it as an opportunity,” Gardner advised. “Think about who would be the best people to go with me on this journey.”
Hayes talked about the importance of pairing up with the right investor.
“Building a business from scratch takes more time than you think it will take and will be more challenging than you think it will be,” he said. “That’s where an investor can be very helpful. They’ll bring their expertise and their guidance.”
At Innovating the Talent Pipeline, we heard from Dr. Paulette Dillard, president of Shaw University, Richard Boyd, founder and CEO of Tanjo, Inc., and Geoff Coltrane, senior education advisor to the Office of North Carolina Governor Roy Cooper. Karl Rectanus, co-founder and CEO of LearnPlatform, moderated.
For Boyd, the question of innovating the talent pipeline came back to funding.
“We’ve got leadership, talent, and education,” he said. “We just need the money component.”
Boyd asked, “What kinds of people do we need to cultivate and make for this future that we can’t predict?”
Coltrane pointed out that 85 percent of the jobs for 2030 haven’t even been invented yet.
In the remaining session, The State of Our Innovation Ecosystem, we heard from Chris Heivly, entrepreneur in residence of Techstars, and Sig Hutchinson, vice chair of the Wake County Board of Commissioners.
Hutchinson discussed the importance of the Chamber’s efforts behind the promotion of diversity, equity, and inclusivity in workplaces across the region.
“The Chamber has been a real leader on this,” he said. “We all win when everyone wins. We all succeed when everyone succeeds.”
Heivly talked about the importance of discussing the startup system anywhere you go.
“It’s about awareness,” he said. “You will find somebody who didn’t know about it.”
top
Capstone Conversation
Our afternoon began with an address from Jason Widen, co-founder of HQ Raleigh and the Board Chair of Innovate Raleigh.
He mentioned how the vision of HQ is to inspire entrepreneurs to grow and deepen their impact.
Widen’s address led into the capstone conversation.
Our president and CEO, Adrienne Cole, took part in the conversation along with Scot Wingo, founder and CEO of Get Spiffy. Brooks Bell, founder and CEO of Brooks Bell, moderated.
Wingo said there is an “awesome” marketing strategy behind promotion the region.
“Every month, we’re a top five this, a top 10 that,” he said.
Cole pointed out how there is an intentional strategy behind telling our story. In partnership with the City of Raleigh, Wake County Economic Development manages a national media campaign with a place-marketing agency to bring brand awareness to Raleigh and Wake County. WCED is a program of the Chamber.
“I’m always bowled over by what is happening in this market,” she said. “We’ve got a really great story to tell.”
Cole also discussed the importance of working with the Wake County Public School System on the talent pipeline.
“We need to prepare our kids for jobs that don’t exist yet,” she said. “There also is an opportunity for entrepreneurs to work with the school system on the talent pipeline. It doesn’t have to be just the large companies.”
Cole also told the audience that the venture funding of startups across the state is up 154 percent so far this year.
top
Todd Olson
The closing keynote was from Todd Olson, the founder and CEO of Pendo, a product cloud that provides user insight, user guidance, and user communication for digital product teams. The company has grown in the last five years from a five-person team housed inside HQ Raleigh to one of the most well-funded companies in North Carolina with more than 200 employees.
“I’d like to think all of us can do it if we focus on the fundamentals,” said Olson. “The fundamentals of any great business start with the market. The number one company killer is a lack of market.”
He encouraged entrepreneurs to stand out and think about the big picture.
“If you set your vision around something near-term focused, you’ll run out of vision,” said Olson. “If no one else is thinking about doing what you’re doing, then there’s not a big market for it. None of you should be scared of competition. The key is to understand how you’re different.”
He said that great cultures make great companies.
“We have a great strategy at Pendo but our culture is what drives the business,” said Olson.
We want to join with our partner, Innovate Raleigh, in thanking the sponsors and everyone who made this year’s Innovate Raleigh Summit such a success. The official Twitter hashtag, #IRSummit18, was the top trending topic in Raleigh for much of the day. The ideas and insight shared at the summit are an integral part of the three major themes of Innovate Raleigh: attracting talent, funding, and building a vibrant and inclusive community. What we learned and accomplished at the summit will go a long way toward building an even stronger entrepreneurial ecosystem in Raleigh.
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