Posts tagged ‘Startup Iceland’

May 17, 2013

SI2013 – Unconference

We are trying a new addition to the original Conference format in Startup Iceland 2013. I was very inspired to participate in an UNConference event that was hosted by Landsbanki last fall and the Facilitator for that event was Joshua Kauffman. It was great to get connected with him and invite him back to participate in Startup Iceland and facilitate the Startup Iceland UNConference this year. I would really encourage everyone to participate in the UNConference, it is a great free flowing atmosphere and gives rise to a lot of new ideas. I wrote about my experience of last event here. The great team Joshua-Kauffman-Headshot1-342x342

Joshua is a globally active design strategist, facilitator and investor, and principal collaborator in the Quantified Self movement.

With the Quantified Self, he works on the emerging opportunities in personal data and self-tracking that can enhance existing systems and lead to the invention of transformative new products and services.

Joshua also operates a global design practice that consults on projects in technology, innovation and International Development, and has clients ranging from large global companies to governments and foundations.

A good part of  his work is in lecturing and leading workshops, including facilitating innovation gatherings, design exercises and unconferences. Some recent venues have included Credit Suisse, GE, the MIT Innovation Lab, the OECD and the Landsbankinn Innovation Unconference.

Joshua has a degree in Globalization and a Masters in Design from Harvard, where he instructed and remains an affiliate of the Berkman Center for the Internet and Society.

May 14, 2013

Lauf forks – Startup Profile

Magnús Ragnarsson

Magnús Ragnarsson (I really liked this picture, he looks good doesnt he?)

LaufForks_Heimasida6_900x514Magnus Ragnarsson was the host of Startup Iceland 2012 and we requested him if he would oblige us the same service this year for Startup Iceland 2013 and he agreed. Yay! Thank you Magnus. Magnus has been part of the media, entertainment and startup scene in Iceland since the very beginning days of OZ and Lazy Town etc and in addition to that he is avid cycler and is organizing the WOW Cyclothon. He pointed me to a new startup in Iceland called Lauf that has designed a shock absorber for bicycles that is 500 grams lighter than the competitors out there and it is all carbon fibre based there is no metal involved. I am no cyclist or know anything about bicycles but the design of this shock absorber is pretty cool. I think this startup has potential, that being said, I always come back to the same notion that it is not the idea or the product or how ingenious the solution is, it all comes back to how well you sell the story, tell the story, in what platform you tell the story and do you get attention from the main stream media to attract potential partners, investors and customers. Talking to Magnus it looks like this startup is going the same route as many startups in Iceland, i.e trying to figure out how to make this thing rather than trying to figure out how to sell this thing. I think Lean Methodology to sell this is best way to build a company. That being said, maybe the founders are doing that and I don’t have enough information to say what they are doing is right or wrong. I believe very strongly that there is a lot more to building startups and companies than a great idea. Anyways, check it out. The global bicycle market is massive multi billion dollar industry and providing parts to that industry is not a bad business.

April 9, 2013

Iceland Seafood Cluster

I have been writing a lot about Entrepreneurship and Startups, but I am not a big fan of the Cluster concept primarily because getting sjavarklasinn-70established companies to be Entrepreneurial is very hard because they look at different metrics and the incentive for the established companies to participate in Cluster building is a long term game, however established companies are relatively short term focused because they are trying to increase their yield on invested capital by getting more efficient on the operation, sales etc. On the other hand a startup in the same sector is more or less not too focused on efficiency, they are trying to exploit a weakness or a problem in the existing solutions, therein lies the challenge. It would take visionary leaders in established companies to harness, foster and encourage the building of a ecosystem around the sector that their companies are built in. This is exactly what Dr.Thor Sigfusson has done with his startup/project Seafood Cluster a.k.a Sjávarklasinn in Icelandic. thor_sigfusson-145It is fascinating to see how he has convinced established companies in the Seafood sector and new emerging companies to co-located in a building in harbor of Reykjavik. He has ambitious plans to expand the facility to allow more startups and established companies to have meetup spaces. It was exciting for me to watch this because Seafood is the sector that is as traditional as they come, we are talking about really established fishermen looking into working with young new startups, mentoring them and seeing if they can improve the established methods using new technology.

There is a wealth of information and reports around the concept, I have not read all the reports but I believe this is something that I believe can work. I like the idea and the execution of the fact that if you put new companies and established companies near each other and once they start talking magic usually happens. In addition, the same location has some support services like legal, marketing and publishing etc Think of this as an Accelerator for a startup in the Seafood Sector. I think the missing piece is what typical accelerators do which is a 3 month bootcamp like environment that basically focuses on the validation of the new startups and also getting investors to be part of the project. I think Dr.Thor Sigfusson has already done that because the Seafood sector or the Fishermen are the richest cohort in Iceland and they are starting to see the value of having such a place and are investing in this.

We have invited Dr.Thor Sigfusson to be a Speaker in Startup Iceland 2013, I think this concept needs to be communicated in the Startup Iceland platform, and he has agreed to do that. In addition, it would be interesting to learn from his talk what were the challenges, opportunities and road block that he had to cross to get this project off the ground. If you are interested you should definitely buy the tickets soon as they tend to run out fast.

February 25, 2013

Startup Life

Startup Life - Amy and BradI have been reading the new book by Brad Feld and Amy Batchelor on Startup Life -surviving and thriving in a relationship with an entrepreneur. I think Brad and Amy bring a level of conversation that I have not read in a self help or relationship help book. This is one of the must have book as a reference if you are an Entrepreneur or a Startup Founder or working in a Startup. It has many strategies, stories, sacrifices and simple advice on making things work while everything around the entrepreneur is moving at a crazy pace. I have been enjoying the book. I would recommend everyone to read this book. The contents of the book are not just for Entrepreneurs it is for anyone wanting to having a lifelong relationship with a person whom they love, respect and admire. Here are some excerpts from the book:

In a relationship with a hyperrational engineer type of entrepreneur, it can be maddening to have him try to solve your problem or figure out what has caused you to be angry. This is especially vexing when the gender dynamic around solving a problem versus providing empathy is tossed into the mix. Try to recognize when this is going on and shift into empathy mode to calm the savage beast, rather than problem-solving mode, which will likely inflame things.

Which couple has not encountered this before? and how many times have you asked yourself after a blow up what happened? what did I do? I have and I constantly try to remind myself that my wife cannot read my mind and I don’t have to solve all problems. When Brad is visiting Iceland this June we plan to have a small event – a dinner with a group of Entrepreneurs and their significant other. If you want to participate you need to participate in Startup Iceland 2013. Given that we will have a small number of slots for this event, I would like to hear why you believe you need to be in that group. Write to me and we will pick who gets to go… sorry, cannot get everyone on board but everyone can get the book and read it and interact with Brad and Amy when they are here in Iceland the first week of June, how cool is that?

January 1, 2013

2013 – A New Beginning

Sun Rise

Picture taken in Reykjavik by me

2012 was eventful. The Startup Community in Iceland is starting to thrive, we are seeing green shoots everywhere. More optimism, courage and eagerness to start and build things of value. I have been quite off-line from the blog-sphere due to my current role of building a new company. It has been a very interesting last 6 months. However, Startup Iceland is live and kicking. We will organize a bunch of events starting with the Startup Iceland 2013 – A Conference on Building Antifragile Startup Ecosystems in the first week of June, more specifically June 1,2,3 and 4th. I have adopted the word Antifragility thanks to Nicholas Nassim Taleb. I have written a lot about his work and I do believe his latest book on Antifragility is his best compilation yet. This years conference is going to be a 4 day event. We will have a hackathon, an Unconference Event and a TEDx like format day of talks and lectures. The website is under development and should be launched soon. All the details, how to sign up etc will be shared through the website. I am really excited to start the new year with so much momentum based on the work the community here in Iceland has done the last year. If we look back, here are all the Startup Related Events that happened in Iceland in 2012.

  1. Startup Weekend – more than 10 startup weekends were organized by Innovit with sponsorship from Landsbanki
  2. Grass root book club and entrepreneurship discussions organized through Hugmyndaráðuneytið - Lean Startup was the book we discussed. I blogged about it most of the meetups.
  3. Startup Iceland 2012 – Conference that brought Brad Feld, Brad Burnham, Ted Zoller and many other entrepreneurs from around the world to Iceland. Here is a summary of the event. If you missed the event here are the videos.
  4. Startup Reykjavik 2012 – First mentorship based accelerator launched in Iceland and the first class graduated
  5. Seed Forum – has been happening in Iceland for quite sometime but the level of participation and the quality of speakers and investors took a turn for the better this year.

I believe through this blog I have documented all the major things that have happened in Iceland the past year. I will continue to do that in the coming year. There are very few thoughts that fundamentally change how you view the world and this year, my focus in on Antifragility i.e how we can become stronger by having an affinity towards the random, uncertain events. I believe that is the world we live in and I have embraced it. There are a few principles that I want to live by and Brad Feld wrote a very interesting post on LinkedIn about it “Give before you get“, I have always lived by this philosophy and I will continue to do more in the coming year. Startup Iceland is built with that principle. There is no transaction involved in all the effort that I have and a number of other volunteers put in to building this ecosystem in Iceland. It is a testament to the power of Giving.

November 16, 2012

Startup Slovenia

Ljubljana, Slovenia

Ljubljana, Slovenia (Photo credit: Wikipedia)

I was invited by Center for Entrepreneurship and Executive Development (CEED) Ljubljana, Slovenia as a keynote speaker for Investor Day event jointly organized by American Chamber of Commerce, Department of Economic Development and Technology and the Public Agency of the Republic of Slovenia for Entrepreneurship and Foreign Investment. It was great to meet with a number of entrepreneurs and the grass root movement that is happening in Slovenia. It was interesting to me because of the perspective of a number of Slovenians that the country is small. The reason I was invited to talk about Startup Iceland and GreenQloud was because they felt that if there was one country that was definitely smaller than Slovenia is Iceland and they were intrigued to hear my story and why I was investing in Iceland and why I founded Startup Iceland.

It is a complicated story how I got to meet Slovenian entrepreneurs and how I got connected with CEED. But it is worth mentioning that one of my favorite blogging tool Zemanta was founded by Bostjan Spetic, and he is Slovenian and his wife Gaja are big fans of Iceland as they traveled to Iceland twice this year. It was through them that I got connected to Slovenia. I was very impressed to see the green shoots of startup culture and critical mass of entrepreneurs wanting to start doing new things and change the ecosystem. Met with some of the leaders who are running accelerators or incubators or looking to start new mentorship driven accelerator like Startup Reykjavik in Slovenia. This event was very interesting for me as I can see the clash between the two groups, the hierarchical organizations and the small network based entrepreneurial organizations.

The main guest speaker of the event was Dr. Alexander Dibelius, one of the leading investment bankers and investment environment connoisseurs, Chairman of the Executive Board Goldman Sachs AG; Head of Goldman Sachs Germany, Austria, Russia and CEE; and Global Head of Goldman Sachs Industrial Group. I really did not agree with a lot of things that Dr. Alexander was saying, but that is for another blog post. The young entrepreneurial community in Slovenia is at the same early stage as we have in Iceland and it was great to connect with this community. There are a number of similarities and challenges, so it was great to compare notes, get inspired and inspire the grass root to start doing things. Here is the link to the presentation that I gave, it was more about how I got started and why I do what I do etc I was humbled to see so many people inspired by the story of Iceland and what Iceland stands for, it gives me great strength to learn that we are on the right path in creating a sustainable startup ecosystem in Iceland and in my humble opinion we are just following what Brad Feld has documented in his book Startup Communities. I recommended the book to anyone who wants to learn how to build a startup community. I also met with a number of media outlets, TV channels and newspapers… it was interesting to learn about the challenges in Slovenia. I am really smitten by this country and I am sure I will come back again as I volunteered to be a mentor to any of the accelerators that would have me as one.

September 24, 2012

Dedication to the Truth

Entrepreneurship

Entrepreneurship (Photo credit: Michael Lewkowitz)

Truth is reality. Reality can be distorted when we have wrong maps in front of us. To be part of a startup or running your own business there is nothing more detrimental than not dedicating everything about what is done in the company to truth. I believe Entrepreneurship is a Truth Game. You cannot lie to yourself that your product or service is great when your users don’t want to pay for it. The reality of running out of money hits you like a ton of bricks. Obviously it is hard, building something that is not yet there but getting someone to pay for it with all its limitations and crashes and bugs, but as long as you are honest about the status of things and are continually making progress you are doing the right thing. There is a reason why all investors want to see metrics, because metrics shows the reality of the performance of the team. So what are these metrics? Sarah Pervette, one of the speakers in Startup Iceland had this slide that she stole from Bessemer Venture Partners:

Source: Startup Iceland 2012, Sarah Prevette

These 6 metrics should be in front of every Entrepreneur, you need to measure this, monitor this and make sure that you are tracking progress on all of this. It is very easy to get caught up in the mix of things when you are doing a startup, there are million things you need to do and things are not working, people don’t show up because they are sick, whatever but being honest about the measurement of your business is the most important thing that you cannot take your eyes off from.

August 24, 2012

Liad Agmon – Talk @GreenQloud

Liad Agmon from Bessemer Venture Partners stopped at GreenQloud and gave a talk about his entrepreneurial career, stories and lessons learnt. It was very entertaining, insightful and inspiring. I think we have another potential speaker for Startup Iceland 2013. The one common element through all his talk was the emphasis he put on relationship building. When you are working on a product or service or your startup or another company or whatever end of the day it is always people who are on the other side of what you are doing. Building good relationships and ensuring that you are helping the other is the key to success even in Startups. He has had a lot of success and challenges for someone so young but he has learnt and build character by focusing on people and relationships. The major takeaway for me was to make sure you take the time to turn all stones, meet people, build relationships and hustle when there are roadblock… oh, make sure that you are nice to the secretaries because they are the ones who control the calendars and schedule of important people :) . I wrote about the Struggle, Liad’s talk made contextual sense to the overall philosophy of the Struggle. You always have a move, so go and make one.

Here are the links to the first 2 videos:

  1. Starting to write viruses, hacking and learning about Startup
  2. Focusing on building relationship with People
  3. Struggle with the second startup and relief
July 7, 2012

Startup Revolution

Brad Feld is working on 4 books this summer, he has structured his new blog based on those themes. I think he is spot on in identifying the themes that are relevant to the startup ecosystem around the world. The themes are:

  1. Startup Communities
  2. Startup Life
  3. Startup Boards
  4. Startup Metrics

I am looking forward to getting to read all those book. I think there is a revolution starting to happen around the world, some places more so than others. I think the global socio-economic shifts are starting to influence how communities structure themselves and find purpose. There is a struggle starting to happen, Brad Burnham wrote about the Freedom to Innovate, a paragraph in that succinctly describes what I mean by the socio-economic shifts:

For the last 130 years the economy has been dominated by firms structured as bureaucratic hierarchies. That model worked well to mass produce products for mass consumption, but the inefficiency of communicating customer needs up through the hierarchy and management decisions back down, and the natural tendency of any organization to protect its current organization structure makes it difficult if not impossible for bureaucratic hierarchies to innovate as quickly as the emerging network-based model of decentralized innovation.

The above shift is happening whether one likes it or not, Brad Feld‘s work on defining a structured approach to build communities, companies and markets is in my perspective a good roadmap or guide to counter this shift. I think Iceland is a great experiment in this change, there was no other country that was harder hit than Iceland due to the 2008 Financial Collapse. It would be interesting to see how Iceland is responding to the shift, we have started on an interesting path with Startup Iceland, Startup Reykjavik and a Number of Startups being formed in Iceland and Infrastructure being aligned to help startups. I think it is a good start and only time will tell if this experiment is going to give the right results but so far I like the path.

June 18, 2012

Efficiency != Sustainability

I started working with technology as an intern in India for a small startup which was building software for Financial Services companies. The network architecture that we were building then was client server, for those who are wondering what the heck is that click on the link. The servers were just another personal computer that was running the database application and the client was a proprietary software that was build onto of the database vendors technologies. The popular ones then were dBase III, FoxPro, Visual FoxPro, Oracle+Pro C, Lotus Notes etc I learnt a lot about how this technology worked and how this connected architecture delivered value to our clients. It was quirky, but did the job most of the time and we were a startup so we jumped off the cliff and built a parachute on our way down… for the most past it was a lot of fun and a lot of hard work. Fast forward to now, the technology landscape has dramatically changed. Internet and Mobile access has fundamentally changed everything about technology application in business.

While we embark on this new journey, I feel the technology community is not doing a good job of communicating the challenges of technology to the main stream. Lets start with the use of data centers, most of the worlds largest data centers get their electricity from non-renewable power i.e. Coal, Oil or Nuclear. That is a fact and there is nothing wrong with that but this has serious implications for new hyper connected, big data, high performance computing requirements of today’s consumers and the applications they use. There are billions of devices connected to the internet and all of them creating, storing, processing data for various things that puts CO2 into our atmosphere. One can debate until the cows go home whether CO2 in the atmosphere is a bad thing I am not that intelligent, it is accepted that CO2 in the atmosphere is a bad thing and it causes climate change. It is estimated that 2% of the CO2 in the atmosphere is due to data centers. This trend is serious because if one measured the CO2 due to data centers 10 years back it would have insignificant and McKinsey estimates that by 2020 4% of the CO2 will be due data centers. Again doubling in just a decade, why is this important or bad… it goes back to the notion of geometric progressions, we humans are very bad at calculating the consequences of exponential or Power Law based systems. We mess up with risk calculations in financial markets because we don’t understand the convexity of risk in high order moments, but that has only economic impact, painful as it may be we can cope with it and recover, but large complex systems like climate are too serious a threat to be left to Governments to bail us out.

What are the industry leaders like Google, Amazon, Apple, Microsoft etc doing about this? They are changing the debate from Sustainability to one of efficiency. They argue that by making their data centers more efficient they are reducing the amount of energy used by them. Efficiency is a good thing but data centers becoming efficient does not reduce the CO2 emissions it actually accelerates it because the cost of using data centers becoming really cheap so it gives incentives for more use rather than less. This is a troubling trend. I have been a vocal about my dis-belief in setting up data centers in Iceland but when I see the arguments and reports and lobby coming out of the large enterprises I am compelled to reject that notion and I want to jump in and change the debate.

I have accepted a new role of CEO of GreenQloud of Iceland, we are going to change the debate. We are vehemently going to argue that Efficiency != Sustainability, we believe data centers should be using only renewable power and should not be buying power from dirty sources. That is the only way to sustainability. GreenQloud is the Worlds First Truly Green(tm) Public Compute Cloud Service. I want to make a truly world class compute cloud that does not charge a green premium, is Amazon compatible and it provides the same or better performance as any other cloud computing platform in the world and is also sustainable. I believe that is the only way to disrupt the trend that we are on. We want to make the choice to choose sustainability easier, we don’t believe we should expect companies to sacrifice anything (read pay more!) to choose sustainability.

I will continue to blog in the Startup Iceland blog about Entrepreneurship, Startups and resources for entrepreneurs, now I will have more real world examples because GreenQloud is a startup, however  I take the challenge of sustainability very seriously so I will be writing as well in the GreenQloud blog the emphasis there would be focused on what we are doing at GreenQloud. I will be recruiting other bloggers to write in the Startup Iceland blog because this is a platform that belongs to the Startup Community here in Iceland, I will continue to be a moderator and bar tender. Sustainability is a very powerful word, we will continue on that theme here in Startup Iceland. I will be sending out a small survey to all those who have shown interest and for those who participated in Startup Iceland 2012 to get feedback to improve the conference for next year.

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