On Tuesday, I spent the day at TechStars New York. After spending Monday in Washington DC for the launch of the TechStars Network, it was really fun to spend the day and go deep with the first TechStars NY class.
By the time I got to NY on Monday night I was exhausted. My day started at 5am with email, followed by a run, a few conference calls, and then the big announcement at the White House. Several other meetings followed with a final event at the Case Foundation. David Cohen and I then hopped on a train, cranked on emails and interviews all the way to New York, and then I finished the night (after some more email) with a one hour lecture by Skype to a class of San Diego based students.
I usually have no trouble getting up at 5am, even when I’m tired, but on Tuesday I couldn’t pry my eyes open so after a few tries I just slept until I had to get up for my first call. By 10-ish I was at TechStars. I then spent 20 minutes with each company doing what I call the “top of mind drill.”
Having met with every TechStars company at least once, I’ve found that it’s not terribly useful for me to have the team members spend the 20+ minutes we have in our first meeting introducing themselves. I’m already familiar with the companies through the selection process and I just want to get into the mix with them. It’s week four so by now they’ve had tons of mentor meetings (my understanding is that at least 70 mentors have rolled through the TechStars NY offices at this point – thank you mentors!) So – I look for a quick under five minute introduction (“just explain what your business does and how it works”) and then spent the next fifteen minutes talking about whatever is top of mind.
I love the top of mind drill. It starts off with the simple question from me: “What’s on the top of your mind?” Some of the TechStars founders get it immediately and dive into a very specific issue that they are wrestling with. Others ramble around for a few minutes at which point I stop them and suggest they focus on what they think their biggest current issue is. They almost always get it the second time and we end up with ten solid minutes on one or two things that I can give them actionable feedback on.
I was planning to come back on Friday but I decided to detour to Miami Beach to spend the weekend in the sun with Amy. As a result, we cranked through all 11 companies during the day. I bought a purse on ToVieFor (don’t tell Amy – it’s a surprise), agreed to be an early alpha publisher for OnSwipe, and overall had a great time. I’m super psyched about all the teams I met – it feels like the TechStars New York program is very high quality and off to a great start.
We finished up with me giving a talk and doing some Q&A. Given that I had just been at the White House for the Startup America Partnership, we talked about that some. I gave my view of the overall cadence of the TechStars program now that the first month was coming to an end, and then I finished with a story about one of my biggest failures (Interliant) and some of the lessons that I learned from that experience.
I’m writing this from a plane Thursday night heading to Miami where I’m going to try to catch my breath after four deliciously intense days. You’ll hear about the other two – my whirlwind tour of Upstate New York – in a future post.