Do More Faster: TechStars Lessons to Accelerate Your Startup

Chapter 81. How TechStars Came to Boston

Bill Warner

Bill is the founder of Avid Technology (the pioneer in video editing software) and Wildfire Communications. He is also a co-founder of TechStars in Boston.

I first heard about TechStars when I was introduced to David Cohen in 2008. I was looking at investing in EventVue, a TechStars company, and I was curious to find out who and what was behind the program.

Since 2004, I have worked with five startups as an angel investor. My focus with these five companies was to help the entrepreneurs align their invention with their own intention. My thought was that if you get the very early stage right, then the rest will follow. I worked hard with each company founder and helped them align their product designs with the needs they were serving and with the energy that drove them to invent in the first place. I was excited to see how it all worked, but in the end, the results were disappointing. Of the five companies I invested in, one got venture capital and then ran smack into the downturn. It was ultimately sold at a low price although its product is still being sold by the acquiring company. While I felt that overall I made huge progress with the various entrepreneurs on aligning founder intention with the actual invention, alas, that wasn't enough and I had to report a zero for five track record on creating sustainable companies.

While any ...