Startup accelerators aren't new, but ThinkHouse gives new meaning to “entrepreneurial environment.” The inaugural living-learning-company building program hosted eight entrepreneurs in a renovated house in Boylan Heights since last December. Yesterday, we recapped the experience and talked to the ThinkHouse founders about the future of the program.
Today, we highlight the five promising businesses either born or further developed during an intensive six-months of ThinkHouse residence. The fellows pitched their businesses at a Demo Day at HQ Raleigh last night, and ExitEvent sat in to get their take on a first-of-its-kind experience in the Triangle.
So here you go, the stories behind five startups we'll be watching in weeks and months to follow. --Read On
Remember the expression, “It's better to try and fail than never try at all,”? As it turns out, the expression is probably true if you're an entrepreneur; the economy benefits more from your ventures' failure than if you never start your venture.
By now you've probably read the report, or at least read an article citing it. The report has been so widely circulated and commented on that the authors released a follow-up paper two weeks ago in response to all the theories and debates it inspired. If you haven't read the report, Figure 1, reproduced above, sums it up nicely; business dynamism has been declining for the past 30 years and is declining in all sectors, all states, and in all but a handful of Metropolitan Statistical Areas (MSA) including North Carolina and all of its MSAs. --Read On
Eight 20-something men in a house may not sound like the most productive of work environments.
But the founders of ThinkHouse say at least five new Triangle-area startups are growing and thriving thanks to the last six months those men spent living and working together in a renovated house in Boylan Heights.
Though the vision for ThinkHouse is much bigger than a house in Raleigh—at least 40 houses in cities around the world and new plans for TeachHouses and HealthHouses—founders Christopher Gergen, Jason Widen, Brooks Bell and Jesse Lipson used the inaugural group as an experiment. Will a group of aspiring entrepreneurs learn quicker and build better companies if they experience every aspect of the startup life in close quarters together? And will they plant roots in Raleigh (or any other ThinkHouse city) as a result? --Read On
Content provided to ExitEvent by partner WRAL TechWire.
By Rick Smith, Editor of WRAL TechWire
A new initiative approved by the Raleigh City Council this week calls for a variety of incentives—from funding to grants and more—in its attempt to lure and to grow startup businesses.
A key point of emphasis is on new ventures related to technology - for good reasons, says James Sauls, who heads up economic development efforts for the City of Raleigh.
"Technology is a sweet spot for us as we have the talent, companies and university infrastructure to support it," Sauls tells WRAL TechWire in an exclusive interview.
The City will be backing the program with cash in the form of grants and other funds with a first-year allotment of $100,000.
"[A] grants program is one of several programs that are being considered," Sauls said. "The City has committed $100,000 for the 2015 budget year."
Guidelines for how grants and other funding will be provided are still to be determined, Sauls explained. --Read On
I won't lie. Ten years out of college, I'm pretty freaking envious of the new digs, new technology and new features on so many college campuses these days. My only positive memory of my college dorm's basement was the free ice cream during exam week.
At N.C. State's new Innovation Hall at Wolf Ridge Apartments on Centennial Campus, smart and eager young people can quite literally start businesses and build products in theirs. At their disposal are MakerBots and laser cutters, iPads and smart whiteboards and they can fix up meals in state-of-the-art kitchens while they work. Breaks can be taken on a sand volleyball court on the quad. Experienced entrepreneurs and mentors will roam the halls providing advice and assistance. --Read On
Say you've got $3 million or more in revenue, you've raised a seed round and the pace of growth at your startup is accelerating. You may have few places in turn in the Triangle for growth-stage funds, but one that might not be on your radar is River Cities Capital.
With a $200 million fund closed in May—its fifth in 20 years—and two local partners, the Midwest-based fund shouldn't be so easy to overlook. River Cities was an early investor in Cary-based SciQuest, which it helped to take public in 2010, and holds stakes in two Raleigh tech companies, cloud-based marketing software startup KnowledgeTree and local television media app-maker StepLeader Digital (A spin-out of ExitEvent parent company Capitol Broadcasting). The StepLeader investment happened in 2013—one of the first four investments made out of fund five, its largest to date (Fund IV was $120 million).
River Cities now has the largest local fund actively making investments in growth-stage companies in the Triangle.
Raleigh partner Rik Vandevenne says the firm is strongly considering another Triangle-area tech investment, and that the pool of potential software and medical technology startups in town seems to be growing. It's a far cry from 2008-2012, when the software industry was dismal and venture-backed startups weren't raising funds—valuations were too low. --Read On
So....we hear about a lot of jobs here at ExitEvent. And since we're not in the market for new ones, we figured we'd share them with our readers.
To submit a job for the weekly roundup, email [email protected]. To apply, contact the companies and entities listed. And forward to all your friends you hope will work at startups!
Oh, and watch this video for some tips before you interview...
Entrepreneur:I'm working on a new startup that will revolutionize everything.
What's my product? Well, I told you—it's revolutionary. It literally revolutionizes everything.
What does it do? I can't tell you. If I told people the details they might steal the idea. Groundbreaking concepts like this don't come around that often.
So… anyway... I'm looking for some assistance. I need someone to help me staff my company and was told you know a lot of qualified people. I was hoping you could do me a favor and connect me with those people, pro bono.
What? Qualified candidates won't even talk to me until they know what the business actually does?
In that case, I'm going to need you to sign this non-disclosure agreement. I know I'm asking you to do this for free, but if you're going to know my game changing idea, I need you to be legally liable to me.
I think my idea is worth millions, so if you or a partner of yours ever build anything remotely close to it, I'll drop a frivolous lawsuit on you before you can say unconscionability. I also realize having you sign a NDA would require you to ask every potential candidate you speak with to also sign a NDA, making this an absolutely untenable situation, but I refuse to waver.
When was I ever required to sign a NDA for just a job interview? Well, that doesn't matter. Those companies weren't revolutionary.
The Startup Factory has been fruitful for Hostel Rocket, which landed a major deal that at its July 1 launch will fill the search and booking site with more hostel inventory than any other site online.
The husband-and-wife co-founders planned to launch the site March 31, but they used three months at the Durham accelerator to fine-tune their business model, bring on important partners, market and grow their social media influence and get the site optimized for any device. They also brought on a technology co-founder.
Check out the pitch video for Hostel Rocket's full business and launch plan, and a pretty cool recap of the traction so far. And below the video, see our before and after TSF report on Hostel Rocket.
The Triangle area is a major hub for technology and sustainable businesses. But it used to be the center of a booming textile industry, before globalization sent much of manufacturing overseas. Now, three textile advocates are trying to bring it back—using the technology and eco-consciousness the region is already known for.
Redress Raleigh is a for-profit S Corporation aiming to grow the eco-fashion and textile industry in North Carolina. It provides a network that connects local designers, retailers, textile manufacturers and industry leaders. A paid membership to the Redress community includes access to all other members' information, and the ability to develop valuable business relationships. Redress seeks to support the triple-bottom-line of not only increasing revenue, but also taking into account social and environmental criteria in a business's decision making.
But it wasn't always structured this way. According to Redress co-founder Mor Aframian (pictured right), who handles marketing and communications at the company, there was a long path to get to this model.
“In 2008, the three [co-founders] got together. We were interested in sustainable fashion, [and] wanted to promote and empower designers,” says Aframian. --Read On
Startup accelerators aren't new, but ThinkHouse gives new meaning to “entrepreneurial environment.” The inaugural living-learning-company building program hosted eight entrepreneurs in a renovated house in Boylan Heights since last December. Yesterday, we recapped the experience and talked to the ThinkHouse founders about the future of the program. 
Remember the expression, “It's better to try and fail than never try at all,”? As it turns out, the expression is probably true if you're an entrepreneur; the economy benefits more from your ventures' failure than if you never start your venture. 
Eight 20-something men in a house may not sound like the most productive of work environments.
Content provided to ExitEvent by partner WRAL TechWire.
Say you've got $3 million or more in revenue, you've raised a seed round and the pace of growth at your startup is accelerating. You may have few places in turn in the Triangle for growth-stage funds, but one that might not be on your radar is 
So....we hear about a lot of jobs here at ExitEvent. And since we're not in the market for new ones, we figured we'd share them with our readers.
Consider this scenario.
The Triangle area is a major hub for technology and sustainable businesses. But it used to be the center of a booming textile industry, before globalization sent much of manufacturing overseas. Now, three textile advocates are trying to bring it back—using the technology and eco-consciousness the region is already known for.