Startup Science Podcast with Gregory Shepard

Real, honest, unfiltered conversations with founders, investors and best-selling authors about building, funding and exiting a startup. Hear from Oren Klaff, Tom Eisenmann, Tim Draper and more, hosted by Gregory Shepard. Follow the show so you never miss an episode.Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

In the second half of their conversation, Gregory Shepard and angel investor Marcia Dawood go deeper into the realities of early-stage investing. Marcia shares why she favors investing through funds for diversification, the misconceptions that keep people—especially women and underrepresented groups—out of angel investing, and how her book Do Good While Doing Well helps demystify the process for new investors and founders.They discuss aligning investments with personal values without sacrificing returns, what mission-driven founders need to show to attract capital, and why humility can be one of the most valuable traits in a startup team. Marcia also offers practical advice on pitching, building investor relationships early, and even using philanthropic capital to support for-profit companies solving big problems.This is a candid, accessible look at how investors and founders can work together to create both financial returns and meaningful change.Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

Gregory Shepard sits down with Marcia Dawood, early-stage investor, author of Do Good While Doing Well, TEDx speaker, and host of The Angel Next Door Podcast. Marcia shares her journey from attending her first angel investing meeting in 2012 to investing in over 50 startups and funds, chairing the Angel Capital Association, and advocating for diverse founders.They discuss why only a small percentage of venture funding goes to women, how representation among investors impacts funding outcomes, and the unique strengths female founders bring to the table. Marcia also reveals her top advice for new angel investors, the biggest misconceptions about investing in startups, and how she evaluates companies based on the “horse and jockey” test.This conversation is packed with insights on funding gaps, the importance of balanced teams, and how both for-profit and nonprofit efforts can drive meaningful change.Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

In Part 2, Gregory continues his conversation with Toph Day, the visionary CEO of Elevate Ventures. Toph dives deeper into his mission to build a thriving entrepreneurial ecosystem in Indiana, explaining why the state is becoming a global hub for innovation and why it’s the perfect place for startups to grow. From Indiana’s top-ranked infrastructure and talent pool to its affordable cost of living and bipartisan regulatory environment, Toph makes a compelling case for why Indiana is the "Innovation Capital of the World."The conversation then shifts to “Rally", one of the most exciting innovation conferences in the world, which Toh founded. Gregory shares his firsthand experience attending Rally, describing it as a "legit Silicon Valley conference" in the heart of the Midwest. Toph reveals the inspiration behind Rally, how it brings together cross-sector stakeholders, and why it’s become a must-attend event for entrepreneurs, investors, and innovators from around the globe. He also shares some jaw-dropping stats from the first two years of Rally, including the billions in assets under management represented and the thousands of connections made.Finally, Toph looks to the future, discussing the emerging trends he’s most excited about—beyond AI—including the convergence of technology and hard products, and the transformative potential of the next industrial revolution. He also shares his ambitious vision for the next 5 to 10 years, both for Rally and Elevate Ventures, including plans to grow Rally into the world’s premier innovation conference and to launch a $200 million growth fund focused on the Midwest.Whether you’re an entrepreneur, investor, or just curious about the future of innovation, this episode is packed with insights, inspiration, and a bold vision for what’s possible in the heart of America. Don’t miss this exciting conclusion to Gregory’s conversation with Toph Day!Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

In this electrifying episode of the Startup Science Podcast, Gregory Shepard sits down with Toph Day, the visionary CEO of Elevate Ventures, one of the most active seed and early-stage investors in the Great Lakes Region and a top 20 venture capital firm globally. With over 30 years of entrepreneurial experience and multiple exits to Fortune 500 companies, Toph shares his incredible journey from growing up in a strict German Baptist household on a small farm to becoming a powerhouse in the venture capital world.Toph opens up about his early days as an entrepreneur, founding eight businesses across seven different sectors, and how his relentless curiosity and work ethic propelled him to success. He dives deep into the key lessons he’s learned in leadership, including the importance of listening, vulnerability, and giving credit to others. Toph also shares his insights on adapting leadership styles across diverse industries, from AI to broadband, and how humility and respect are critical to building high-performing teams.The conversation takes a fascinating turn as Toph discusses his role at Elevate Ventures, where he’s leading the charge to modernize the organization and launch a $200 million growth fund. He breaks down the three pillars of Elevate’s strategy—community, capital, and acceleration—and how they work together to create a thriving entrepreneurial ecosystem in Indiana and beyond.Toph also offers invaluable advice for founders, emphasizing the importance of grit, creativity, and focus. He shares practical tips on how to avoid common pitfalls, such as overcomplicating go-to-market strategies and the critical role of tracking data from day one. Whether you’re a seasoned entrepreneur or just starting out, this episode is packed with actionable insights and inspiration to help you navigate the challenging yet rewarding world of startups.Tune in to hear Toph’s incredible story, his vision for the future of innovation, and his advice for building businesses that stand the test of time. This is an episode you won’t want to miss!Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

In Part 2, Gregory Shepard and Aras Sheikhi explore the intricate world of entrepreneurship, offering profound insights for academics and startup founders. They delve into the mechanics of innovation hubs and accelerators, revealing how early-stage startups can transform innovative ideas into market-ready solutions. Gregory shares critical advice for researchers looking to commercialize their work, emphasizing the importance of flexibility, market adaptation, and continuous pivoting. The conversation spans multiple dimensions of entrepreneurial success, from leading multidisciplinary teams to identifying market needs and emerging technologies. With a particular focus on blockchain, they discuss its potential to revolutionize industries and create new opportunities for innovation. Drawing from personal experiences of transitioning from academia to entrepreneurship, Gregory and Aras provide a candid look at the challenges and rewards of building startup ecosystems that support first-generation entrepreneurs and emerging technologies.Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

In this episode of Startup Science, Gregory sits down with Aras Sheikhi, a dynamic leader who transformed his academic career into a mission of empowering immigrant entrepreneurs. From pioneering blockchain research in Iran to founding the Janus Innovation Hub in San Diego, Aras shares his remarkable transition from university professor to startup founder. Discover how Sheikhi's personal experience as a first-generation immigrant inspired him to create an incubator that helps newcomers navigate the complex world of entrepreneurship. Learn about the challenges of leaving a predictable academic life, the importance of building a supportive team, and how immigrant founders bring unique resilience to the startup ecosystem.Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

In part two of this engaging conversation on The Startup Science Podcast, Gregory continues his discussion with Patrick Gouhin, CEO of the Angel Capital Association (ACA). This episode dives deeper into the dynamics of angel investing, focusing on balancing risk and opportunity for both investors and entrepreneurs. Patrick emphasizes the critical role of diversification, the importance of aiming for high returns, and the necessity of aligning expectations between investors and founders.The conversation also explores the broader impact of angel investing, including economic growth and community development, supported by powerful examples like the Desert Angels’ transformative contributions. Patrick offers practical advice for emerging entrepreneurs on coachability and leveraging investor networks, while guiding new angel investors on how to navigate the ecosystem effectively.Additionally, the episode highlights key trends in startup sectors, the ACA’s initiatives to improve diversity in investment, and innovations such as syndication and standardized processes to streamline funding. Patrick concludes by envisioning a more efficient, inclusive funding model designed to fast-track capital deployment and empower entrepreneurs.This episode is packed with actionable insights and strategies for anyone interested in the startup or investment world.Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

In this episode of The Startup Science Podcast, Gregory engages in an insightful conversation with Patrick Gouhin, CEO of the Angel Capital Association (ACA). Patrick shares his remarkable journey from aerospace engineering to leading an organization that represents over 16,000 angel investors, collectively deploying nearly $1 billion annually to fund startups. Drawing from his extensive experience, Patrick delves into the critical factors that make startups "investable," emphasizing the importance of coachable founders and strong management teams.The discussion explores the dynamic trends in angel investing, from the rise of artificial intelligence to the shifting market conditions that have reshaped valuation and deal negotiations. Patrick also highlights the ACA's pivotal role in fostering collaboration among angel groups through syndication and its advocacy efforts to promote capital formation in underserved communities. Additionally, he shares exciting developments like Angel University, a platform bridging entrepreneurs and investors, and the potential of AI to revolutionize investor education.This episode offers a wealth of insights for both entrepreneurs and investors, providing a comprehensive look at the evolving startup ecosystem and the forces shaping its future. Whether you're building a startup or exploring angel investment, Patrick's expertise and perspective make this a must-listen.Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io

Gregory continues his conversation with Ash Kaluarachchi, CEO of StartEd, diving deeper into the world of education technology. Ash offers valuable insights for both investors and entrepreneurs, emphasizing the long-term potential of EdTech and the importance of patient capital. They discuss the aftermath of the pandemic, which created both an influx of EdTech startups and a subsequent market correction, leaving behind companies "forged in steel" and poised for success. Ash shares his perspective on how technology can help underserved communities access education tailored to their needs, rather than replicating elite educational experiences. This episode provides an exploration of EdTech’s future, investment opportunities, and the role technology plays in creating a more equitable education system.StartEd’s EDTECH WEEK is the #1 EdTech event in NYC. This year's anniversary edition promises to be their best yet, featuring over 200+ speakers, exclusive networking opportunities, and open discussion sessions on the most talked-about topics impacting EdTech.  Mark your calendars 📅 #EDTECHWEEK is back in New York City this October 8-10, 2024 🏙️🍎 Don’t miss this year’s 10th annual event. Tickets are selling fast–register here https://bit.ly/edtechweek-register and use promo code SCIENCE2024 for 20% off your general registration ticket. Subscribe to Gregory's Substack: gregoryshepard.substack.comGregory Shepard: gregoryshepard.comStartupScience: startupscience.io