Tomorrow’s Friday Nooner—the next-to-last episode before our summer hiatus—will feature Alex Lassiter, the CEO of Raleigh-based Green Places. We previously featured Green Places last July, and named it to our “Startups To Watch To Watch” list (yes, that was a real thing). You can watch live on LinkedIn, Facebook or YouTube, or catch it afterward on those platforms or in its podcast form.
Triangle Tweeners
It's Scot Wingo’s Triangle tech world and we’re all just living in it. OK, that may be a stretch, but directionally it’s true. The Spiffy CEO/serial entrepreneur today dropped his annual update to his Triangle Tweener list, which records what he calls the “Goldilocks” tech startups in the region—not too small but not too big. Here’s our story on the list, and here’s Scot’s full update on Medium. Scot is also hosting an invite-only event this evening to honor the new entrants, which we will recap for you tomorrow.
When people used to ask me what it was like to run a startup, I’d say that the best thing is that you get to make all the decisions, while the worst thing is that you have to make all the decisions. Making those decisions is even harder when you don’t have good data on how a given decision might affect things going forward. Enter Chapel Hill-based Kinetik, a new startup from Founder David Hughes that’s building sophisticated modeling and forecasting software to help companies make more informed decisions on all sorts of fronts.
Kinetik participated in the Spring cohort of the Launch Chapel Hill accelerator. Read our full story here.
Checking In
We first wrote about Durham-based Resilient Ventures in June, 2019, shortly after Keith Daniel and Tom Doege had launched their angel investment fund targeted toward Black-owned startups. Today we’re back with an update on their progress to date in attacking their mission of closing the racial wealth gap. Even with the inevitable hiccups and change brought about by the pandemic, so far their growing portfolio with its mix of investments in the Triangle and across the nation is holding up quite well. Read our full story here.
Venturing Out
Lauren Ohnesorge has an interesting story in today’s TBJ that’s worth unpacking a bit. Raleigh-based marketing firm Sokal Media Group is suing Launch Labs, a startup launched by two former Sokal employees that it alleges is using its proprietary tech. Putting aside which litigant has the preponderance of facts on its side—the defendants have not yet had a chance to tell their version of the story—it raises a few issues that anyone thinking of venturing out to launch their own tech startup should know.
First, as a general rule, anything you create—including new software—while working for a company as a fulltime or contract employee belongs to that company, especially if you’ve signed an agreement that explicitly says that. (Which employers should always do to protect themselves.) It’s “work for hire,” as the lawyers say. So if you’re thinking of using something you’ve created or worked on at a company for a startup of your own, it’s typically a good idea to get the blessing of the higher-ups. Plenty of local startups have spun-out from other local companies; Bandwidth is an especially notable progenitor. Who knows, you might even find your first funder and/or customer.
Even if you feel like your idea was merely inspired by your previous work and doesn’t in fact use any proprietary tech, why not leave on good and transparent terms to avoid potential legal trouble in the future? Plus, it’s good karma.
Sovereign's Capital
Speaking of Bandwidth, as you would certainly know if you caught CEO David Morken’s closing keynote at last week’s Grep-a-palooza, the company really started to come into form when David joined forces with Henry Kaestner. That came from a fateful phone call within a year of David launching the company, then moving from Utah to the Triangle so he could work alongside Henry. Henry served as Bandwidth’s CEO until 2009 and later co-founded Sovereign’s Capital to invest in faith-based founders and businesses.
TBJ is reporting that Sovereign’s Capital, which still has a presence in Raleigh, is looking to raise a new $150M fund, of which it has closed $54.3M. Read more here.
Top 10 Worldwide
Startup Genome has named the Triangle as the eighth-best performing “Emerging Ecosystem” worldwide, with an overall ranking of 48th. It’s also the fourth-ranked “Top Regional Challenger” in North America, which tells me one thing: Startup Genome really likes making up new categories.
On the emerging ecosystem list that ranks the Triangle eighth, Charlotte slots in the top 50 and Wilmington cracked the top 60. (Who says we never mention Wilmington?) See TechWire for more.
Tiny Trend
From the tech-adjacent-but-interesting category, check out TechWire’s story today on a Raleigh entrepreneur who’s trying to develop a “tiny home village” for so-called digital nomads. Picture a bunch of tiny homes arrayed around a courtyard for social interaction, and perhaps also a co-working space. The village is aiming to capitalize on a confluence of trends, including the high cost of housing and the rise of remote and hybrid work that means that many tech workers can ply their trade from anywhere. Maybe that could include a tiny house, especially if that tiny house serves as a home base amidst long stretches of travel.
Deadlines!
First up is a near-term deadline: applications close tomorrow for CED’s GRO incubator for startups looking to level up. See here for details. Also, Venture Atlanta has opened applications for startups looking to pitch at its conference on Oct. 19-20, with a deadline of Aug. 12. A number of Triangle startups have done so in the past.
Build Great Software
Founded by serial entrepreneurs, Dualboot is a business and software development company. Their clients include tech and non-tech founders as well as Fortune 500 companies, so they can start small or scale fast depending on what you need. Every client is assigned a U.S.-based Product Director with at least 10 years experience bringing products to market, and they can manage the entire development process. They focus on how the software fits into your company to drive revenue and build the business. At Dualboot, they don’t just write your software—they help you grow your business. Intrigued? Email them here.
Extra Bit
VentureXpert Advisors will host a free live webinar next Wednesday, June 22, on how to find success in the Hybrid Work Economy called “Thriving In The New Normal.” You can find out more info here or sign up directly here.
To see all posted jobs, go to CronJobs. If you'd like your company to be listed, tell us at cronjobs@grepbeat.com and we'll do our best.
Guess where Pete is and (maybe) win a GrepBeat mug!*
Sarah Mixter is this week’s winner for correctly identifying Durham’s Foster’s Street Coffee, which is her go-to spot when she visits the Durham Farmers Market on Saturdays. She celebrates her win below with Gus, “who was rewarded with many treats for being awoken from his nap for this photo.” Go get yours, Gus.
Here’s more about Sarah: “I'm a Program Manager at NC IDEA, where I manage the NC IDEA ENGAGE Grant and oversee the planning of the annual NC IDEA Ecosystem Summit (Early Bird tickets are on sale through June 30th!). I love working with our incredible partners and supporting entrepreneurs across North Carolina. As an avid beer drinker and brewery explorer, I'm excited to enjoy a brew in my new pint glass!”
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