Last week, MEC visited Silicon Valley to explore its thriving startup ecosystem. The trip was a great opportunity for our club’s members to meet with and learn from some of the top venture funds, angel investors, and experienced entrepreneurs.
Our first stop was SignalFire, a venture capital firm that focuses on investing in early-stage startups. Speaking with Cory Levy, founder of First Text and ZFellows, we learned about the importance of growth techniques. We also had a chance to hear from the Signal Fire team about their investment philosophies and the types of companies and founders that they look for. They shared presentation pointers, highlighting the importance of identifying the problem before discussing the proposed solution and the team. He also advised us to analyze previous failed attempts in detail in order to avoid repeating the same faults and ensure that the market is ready for your venture.
The next day, we met with Mike Cassidy, a seasoned entrepreneur who has founded 5 highly successful high-tech companies, at his house in Los Altos. He talked about the strength of the tightly-knit community of tech founders in Silicon Valley and the power of the network. Cassidy emphasized speed in a startup environment, where quick deals and instant hiring decisions secure the greatest potential and best talent for a startup team.
Our last day in the bay was the busiest. We started our day at General Catalyst, another top venture firm in San Francisco, where we heard the personal stories and inspirations of Zak and Tamanna, members of GC’s early-stage investment team. They also offered specific feedback about the go-to-market strategies of several MEC startups and discussed the current trends in the startup world and the challenges that early-stage startups face. We also met with NfX, an investment firm, who shared their network effects-centered approach to helping startups grow and the types of support they offer to their portfolio companies.
We then made our way south to Burlingame, where we pulled chairs into the spring-like January sunshine outside of a small local coffee shop to speak with Avichal Garg, founder of Electric Capital, a leading cryptocurrency and blockchain investment firm. During our meeting, he shared his insights on the internal structure of large companies and the importance of having engineers as decision-makers for higher success as a technology company. He also shared his philosophy when investing in startups, looking for a rare, perfect founder-market fit, and talked about how good ideas come to be.
Lastly, we ended our trip with a tour of the entrepreneurship scene at Stanford with XFund. It was great to see the elegant campus and the grand buildings. We headed to the Hoover Tower, a 285-foot-tall tower that provides stunning views of the campus and the surrounding area. The tower is a landmark on campus and is one of the most recognizable buildings. From the top, we were able to see the entire campus and get a feel for its layout.
Overall, our trip to San Francisco was an enjoyable and valuable experience for MEC members. We met with some of the top venture funds and startup founders in the city, learned from their experiences, and strengthened our networks.
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