Lessons Learned: Week 3

Lessons Learned: Week 3

POC: This week was all about proof of concept! A great idea can get stuck in POC “purgatory” without a POC Roadmap. Dawn laid out the framework and helped each team identify key milestones and gaps needed to complete their individual POC roadmaps.  

Manchester Story: David Miles from ManchesterStory VC joined us for a roundtable discussion and shared his deep expertise in the VC area. 

Here are some key takeaways from our meeting with David. 

?Today, companies have immense amounts of data, but it is what you are doing with that data that matters… how are you making meaningful insights and using that data to solve problems?

?During an investor phone call it’s important for the entire team to be present, this not only shows a team’s commitment but provides insight into team dynamics.

?Venture Capitalists are humans too, and like most humans, they connect to stories. Effective pitches lead with a story.  

?”Our meeting with Dave Miles from Manchester Story was eye-opening, it underscored many critical aspects a startup must consider in order to become venture worthy.” – Farahmand Kalayeh, EDLORE

?“Dave from Manchester Story offered some good commonsense advice and insight on how to approach and prepare for a VC meeting.” – Sue Sonahue, Livindi

 

Basketball is for everyone: If you are from Connecticut you know how much we love our Huskies… This is the UConn Nation after all! Last week our startups attended the UConn Men’s basketball game against UCF at the XL center. UConn won with a score of 81 to 65. For some, this was their first basketball game ever. We’re continuing our Connecticut sporting tour with a Wolfpack game next week!

 

Open House: We are still glowing from a successful Open House this past Friday! Thank you to everyone who came, with over 200 attendees we couldn’t be happier with the turnout. It was such a pleasure to share our space and introduce the Hartford community to our startups. A big shout out to McKenzie for winning our raffle.

Congratulations to our AirPod raffle winner McKenzie from Travelers! 

 

Partners, Partners, Partners: Collaboration and strategic partnerships are vital in driving digital transformation. This week we were joined by our partners: USAA, The Hartford, and Aetna. 

“We believe in collaboration. Traditional partners and InsurTechs working together to build market winning solutions that combine cutting edge tech with industry expertise. It’s no longer ‘us’ versus ‘them’. It’s now the ‘collaborators’ versus the ‘competitors’. Thrilled to work with like-minded folks at the Hartford Insurtech Hub.” – Douglas Ver Mulm, Stable Insurance

Thank you to all our partners and startups for their commitment to innovate! Each of our partners provides unique insight into business challenges and offers experienced industry-specific mentorship. Our startups and partners form mutually beneficial relationships, our startups provide innovative solutions to partners’ problems. 

 

Corporate Legal Workshop: Time to bring in the professionals… navigating the legal landscape and running a business can be tricky. Locke Lord led a Corporate Legal workshop and helped answer startup specific questions around fundraising and investments.

 

Happy International Women’s Day! An equal world is an enabled world. Only 20% of newly funded startups in 2019 had a female founder according to an EoY 2019 Diversity Report (bit.ly/IWDHIH). We are proud to support women entrepreneurs and celebrate their success every day!   

 

What’s Next:  Next week we have meetings with Amazon Web Services and Capgemini. As we head into week 4 we only have 9 weeks left until Demo Day!