Tags

Archives

Mistakes Were Made

I-krfn7pz-x3

$130,000,000+ raised by our companies.
Over 400 jobs created.
A Top-10 accelerator in the US.

There are a lot of great stats that I often use when talking about The Brandery. However, if you’ve ever heard one of my talks before, you know that the most important statistic to me is this one:

100% of our participant companies said the program was worth it.

No doubt this remains true today. That said, I’ll be the first to admit we are hanging on to that 100% by the skin of our teeth.

The Brandery team has done a lot of thinking on how to get better in 2017. Our conclusions are that we have slipped in two main areas: type of company selected to be in the program and the stage that company was at when chosen.

When The Brandery was started in 2010, the goal was to bring great talent to Cincinnati. That’s why, in every class, most of the teams come from outside the city. The initial thesis was to choose consumer-facing, high growth companies but we quickly created a lot of wiggle room there to accommodate talented founders over any other factor. I don’t necessarily think that was a bad decision, but we certainly lost focus on other variables. A talented round peg can succeed in spite of the square hole, but it’s not exactly ideally sustainable.

After many years of great results, and a particularly great 2015, we got over-zealous in thinking we could move the needle for anyone we brought in. While we always added some value to everyone who came through the program, the truth is we can help some companies tremendously and others in only limited ways. This is a function of the talents of our staff, mentorship pool, and the intrinsic nature of our close network of partners and sponsors. See here for more about the types of companies we are going after in 2017. Pretty much everyone in our network is well-positioned to add tons of value to these kind of startups.

We also overestimated our ability to take early teams and will them over the line to funding (as we have in years past). Historically, we average close to $2MM in funding per company, but out of the gate in 2016, our alumni did not find great success fundraising. Some of this is the function of the environment, but a lot is on us as well. The current state of venture funding requires significant traction to raise a proper seed round. What was needed to raise an A Round in 2012 you now need for the seed. This means we need to find talented teams that have already hit that product-market fit, raised a bit of money, and are looking to get to that next level. It’s almost impossible to get a small team with just a barebones MVP there in the span of a 16-week accelerator program.

If there was another miss it was simply around expectation setting. Past performance is no guarantee of future results but we didn’t do a great job of correcting the expectation that, as with past Brandery classes, a good majority of our companies would be able to raise a round of funding soon after Demo Day. We need to do better in preparing our companies for the reality of what comes after they leave us.

Running a startup is all about building, testing, refining – and repeating. I look at The Brandery in the same way. We can’t get better unless we’re honest with ourselves about where we fell short. Will our sharpened focus work? I think it will, but the only way to find out for sure is to dive in. I’m looking forward to an exciting 2017 – and learning even more.

We’ve seen a lot of accelerators shut down in 2016/17. It is a tough model if you have lulls/gaps. That said, we’re going to continue to be a strong pillar of the StartupCincy ecosystem for many years to come. Our drive to learn, evolve, and grow is the reason why. I welcome anyone and everyone to help us continue to get better!

Introducing The Brandery's 2016 Startups

2016%20class%201

Today marks the beginning of Week 6 of The Brandery’s 2016 accelerator program. Our founders have relocated to Cincinnati, settled in to their new office space at Union Hall, and are working their way towards Demo Day!

We’ve previously given you some information on the founders accepted into the 2016 class, but have kept the company names a bit under wraps. Why? Well, one of the hallmark characteristics of The Brandery’s curriculum is the 1:1 match-up with a world class marketing agency provided to our startups. In these initial sessions with their agency partners, the companies often refine their mission and possibly even change their names and/or logo. Now that that’s all out of the way, we’re excited to share our 2016 startups:

Upshift (formerly Pinch) is an on-demand labor marketplace where businesses can find workers and workers can find jobs on a short-term basis. Our mission is to make labor as reliable as electricity.
Fadstir is a pragmatic, stylist app for the style challenged, young professional. It is a platform for direct style advice on how to match the clothes you own and shop the clothes you need. Fadstir crowdsources all of its style advice from a community of fashion enthusiasts through an algorithmic, recommendation engine so all answers are reliable and credible.
Zid Zid (formerly Petit Zarafa) empowers kids to play, learn, and grow together with their parents. The company combines the best in early childhood education with the best in technology by providing an innovative online platform centered on language development through creative play.
StreamSavvy makes it easy to stream the best TV. In the complex and constantly changing world of streaming television, StreamSavvy helps people find and access their favorite content through a single, engaging platform.
Hatchli is a crowdsourced feedback platform poised to disrupt the traditional innovative process for both individuals and organizations. By bringing together innovators, makers, and trend-seekers, Hatchli provides the early feedback and exposure needed for great ideas to take flight.
Scent Trunk is perfecting the experience of discovering a fragrance you love. Our technology can figure out what you like to smell so we can send you the best fragrances each month. By collecting data on our scent preferences we are figuring out what the world likes to smell, and we will use this to change how all scent products are made.
ShopperBridge helps CPG companies leverage mobile advertising to get advertising and shopper marketing messages onto the cell phone of shoppers while they are in store at the closest moments to product selection.
Goodwipes complements the modern consumer’s busy, on-the-go lifestyle, keeping you fresh, clean and confident wherever, whenever. With our high-style, convenient and eco-friendly take on wet-wipes, you can now live life clean.
Datazar is a research collaboration platform engineered to consolidate and accelerate your research. By streamlining the research process we enable you to explore and understand the data in the fastest most effective way.
Atumsoft is a turnkey IoT device that lets any scientist access any instrument anytime from anywhere in wireless range. The hands-on days of babysitting an experiment are long gone. Atumsoft gives you complete control, untethers access to data, and frees scientists completely to focus on science.

In the coming weeks, we’ll be taking a closer look at each one here on our blog so make sure to keep checking back. We’re looking forward to sharing their journey towards Demo Day with all of you!

NewCo's Back in Town

Newco_fbthumbnail_cincinnati_1200x630_v1

Cincinnati, it’s that time of the year again, “getting out to get in”. Since late 2012, NewCo has held festivals in several cities, from Palo Alto to London and everywhere in between. These festivals have attracted tens of thousands of people in the past and continues to grow in locations and attendees. Before diving into the Brandery’s sessions for NewCo Cincinnati, maybe it’s a good time to give some background on what is a NewCo?

NewCos are an innovative breed of companies who uniquely measure success by more than just profit. These companies are pioneers in technology and ideas, building communities and becoming the driving force to bring about societal change. If it was possible to highlight the top three aspects of a NewCo it would be this: they are on a mission to create positive change, they are driven by an idea and they are comprised of hardworking and passionate individuals. Albeit every company has a mission statement delivered at some point during orientation, NewCos are the mission of change. This one-day festival exemplifies these ideals as companies open their doors to let everyone in and learn about them and their mission.

On Thursday, July 21st, the Brandery will also be “opening” its already open doors to the public. We will be hosting two sessions, All About the Brandery and How We F—-ed Up 2.0. The first session, led by Tony Alexander and Rob McDonald will take place at 1:15pm. As the title suggests, Tony and Rob will be providing those who attend an overview of the Brandery, with beer of course. The second session, How We F—-ed Up 2.0, is sure to be lively as Brandery graduates from 2015 will be leading the panel. From 2:45pm to 3:30pm, this session will provide visitors with tours of the office space and time for Q&A. Both events have limited seating and since we know you’re dying to attend, the links have been copied below. Hurry and register!

All About the Brandery

How We F—-ed Up 2.0

Alumni Series: Why Choose The Brandery?

Unnamed1

If you’re in the process of applying to The Brandery’s 2016 accelerator program, you might be doing a lot of research to try and figure out whether The Brandery is the right fit for your company, or even trying to decide between more than one accelerator. We get it – there’s a lot to consider!

During this time, we’ve asked a few of our alumni to chime in with their perspective about why they picked The Brandery, how it helped them, and ultimately why they decided to grow in Cincinnati.

Meet Casamatic (class of 2015):

Casamatic instantly matches buyers to their perfect home by learning about the people, activities, and styles they love—the most important criteria for millennials when buying a home.

Why did you choose The Brandery over another accelerator? Why did you feel The Brandery was right for you?

Chris and I were both already heavily involved in the #StartupCincy community, so we knew how great The Brandery was from our discussions with companies that participated in prior classes. It was an especially powerful opportunity for us because of the connection to the branding agency—with the help of Landor, we were able to make our app look incredible, which is REALLY important for consumer-focused startups like ours.

Why did you choose to grow your company in Cincinnati?

There was never any other option. :-) My wife and I moved back to Cincinnati to be a part of the community here, and the resources and talent that we have in Cincinnati are amazing.

Alumni Series: Why Choose The Brandery?

Choremonster_logo

If you’re in the process of applying to The Brandery’s 2016 accelerator program, you might be doing a lot of research to try and figure out whether The Brandery is the right fit for your company, or even trying to decide between more than one accelerator. We get it – there’s a lot to consider!

During this time, we’ve asked a few of our alumni to chime in with their perspective about why they picked The Brandery, how it helped them, and ultimately why they decided to grow in Cincinnati.

Meet ChoreMonster (class of 2011):

ChoreMonster makes chores fun by engaging and rewarding your kids!
Kids earn points by completing chores to use towards rewards like an hour of video games or a camping trip. Parents get an easy-to-use tool that takes the tension out of household chores. Kids also earn tickets to the Monster Carnival for each chore completed, where they can win and collect our monsters. With ChoreMonster, your kids will beg to do their chores!

Why did you choose The Brandery over another accelerator? Why did you feel The Brandery was right for you?

We chose the Brandery due to their incredible network of mentors and advisors. The Brandery taught us how to navigate the waters of venture capital as well as how to work with marketing agencies on a regular basis. It gave us the opportunity to explore and validate our concept amidst valued feedback, which led to better iterations toward launch.

In what way do you think going through The Brandery’s accelerator program helped your company the most?

I think The Brandery continues to help our company on a regular basis. It enabled us to grow a network of investors and mentors that we still rely on regularly for advice and feedback.

Why did you choose to grow your company in Cincinnati?

The people! Cincinnati has the best people in the world. This city is filled with authentic, kind human beings that are very willing to help however they can. It has become a vibrant startup ecosystem anchored by the efforts of the Brandery.

2016 Applications open on February 1!

It’s that time of year!

We’re here on the blog this morning to officially announce that applications for The Brandery’s 2016 accelerator program will open on Monday, February 1st.

This might be a time when you are trying to figure out if The Brandery’s program is right for you, and what sets us apart from other accelerators. Check out this nifty infographic that we created to give you an overview of The Brandery program and our 2015 highlights!

Over the next few months, we’ll be posting a lot of content here to help you get a sense of what life at The Brandery is like. We’ll highlight our office space, Branderyhaus startup housing, our cool partners, what we look for in outstanding applications and so much more. And don’t forget to connect with us! We’re on Facebook, Twitter, and Instagram.

If you have questions about the program or the application process, you can find contact information for our staff and founders on our website or you can email info@brandery.org.

Brandery Love Stories

0147_151007_d7z_1921

One of the hidden wonders of The Brandery community is how the people connect in ways that would otherwise never happen. Over the past six classes, we have created some pretty fantastic unions of founders, employees, and more. Here are a few of our favorites:

Former Brandery interns (“Brandterns”) form a tech startup together

Brian Back (Brandtern batch Fall ’14) and Aman Tsegai (Brandtern batch Summer ’15), both University of Cincinnati students, have used their hands-on startup experience to form a crazy solid founding team for their startup, Datazar. Datazar is essentially the Wikipedia for experimental data— no more repeating something someone already did, and aggregating more data is super easy. Brian is a marketing student and Aman is a physics student and self-taught developer. We are thrilled to see Datazar grow!

LookIt and ShoutOut merge to become Cintric, then scoop up a fellow cohort-mate

When they arrived to The Brandery in 2014, Connor and Rhett were working on a product sentiment app. Erwan and Joel came in with a location-based chat app. After working on proving out the concepts, they realized they were both facing the same problem: location data drains battery. Thus, Cintric was born in the middle of the accelerator program. The companies merged to create a cutting edge intelligence-engine that accurately tracks 450,000 people around the world. In early 2015, they picked up Ian Donahue, former CPO of Venn (also Class of 2014) to lead their design efforts.

Brandery company stacks the leadership team with friends of The Brandery

Drew McKenzie had been an active member for years. When he decided to leave Luxottica to run product strategy at Ahalogy (Class of 2011), we couldn’t be happier. Drew remains an incredibly active and valuable mentor in our network. Then, in 2015, Ryan Watson, co-founder of Sqrl, joined Ahalogy as their CFO.

Brandery grads invest in another Brandery grad

When Brandon Cannaday and Charlie Key sold their company, Modulus (Class of 2012), to Progress software in 2014, they put the proceeds to good use. After the class of 2014, the co-founders invested into Strap, a human data analytics company. Now, the two have announced they are moving on to their next venture, Structure. Guess who’s on the development team? Brandery grad Adam Daniel, former CTO of REPP (Class of 2012). We want to shout this story from the rooftops.

Hodgepodge of Brandery people get together to create Fin-Tech startup

What do you get when you mix a founder of Wax Music (2014), a founder of Tapfit (2013), and a Brandery intern? Sprinkle in a successful YC alum as CEO and you’ve got Dave, the personal finance app that is a collaboration between John Wolanin, Zack Martinsek, and Marcelle Bonterre. The guys are eliminating overdraft fees. Dave is launching soon. And as a bonus, Zack and Marcelle previously worked together at Strap (Class of 2014) and John freelanced for Frameri (Class of 2013).

Two founders of Wax Music merge with Lifecycle

After the Class of 2014, Wax Music and Venn had both pivoted into Chirp and Lifecycle, respectively. After quickly finding that they shared a similar mission for the future of customer engagement, they decided to join forces to form a super company as Lifecycle. They’ve been on an incredible trajectory every since, finally fleshing out all of the pieces of the puzzle, and gaining thousands of customers in just 3 short months together.

Jersey Watch hires former Urban Trials CTO

When the Urban Trials (Class of 2015) refocused during the program to place less emphasis on the technology in the short-term, fellow cohort mate Jersey Watch was waiting in the wings to hire talented developer Nick Rattermann. We’re thrilled to keep Nick in our network!

Cohort mates end up being co-workers at fast-growing Tesla competitor

Andy Fortson, co-founder of Co-Ed Supply, and Ricky Phung, co-founder of ShopStoree (both Class of 2013), had both moved on to the next thing and back to Los Angeles. In 2015, they became co-workers yet again at Faraday Future, the mysterious and fast-growing car company. Bonus: they are both now engaged to their original co-founders, Marissa and Sharon, respectively! Congrats!

Our own staff came from close by, too

Our core staff for the Class of 2015 was made up of three people: Tony Alexander, who served on The Brandery’s board for years and was a mentor since the beginning, Emily Cooper (me), who began as a Brandery intern in 2013, and Craig Baldwin, who was a 2013 graduate of the program with Sqrl. We just couldn’t get enough!

We love the intermingling of our alumni. It’s validation for us that we are truly bringing in the 30 smartest people we can find in each cohort. We bet on the founder, and the others in the class recognize it. Pretty cool.
Did we miss any Brandery love stories? Tweet us (@brandery)!

HackOTR is Coming

Img_1418

It’s that time of year again. The air smells fresh, the sound of Reds’ home runs can be heard from Great American Ball Park, and the sight of a bunch of brainiacs heading into 1411 Vine Street to compete in an all-out mental brawl fills the streets. Yes, it’s that time of year again: time for the one and only HackOTR to make its way back to The Brandery. We’re bringing back the basics of the event—awesome sponsors, shiny prizes, experienced mentors—while offering new hacks and hosting a brilliant group of hackers ready to work and binge-drink Redbull for twenty-four straight hours (just kidding about that Redbull part… we also have Mountain Dew and coffee).

For the tech-savvy, one new hack offers a hardware-based objective to those who believe they can handle the challenge. Not familiar with coding or working much with programming? No problem, we’ve got another type of challenge tailored for the business-oriented minds. Our marketing and design challenge will allow product marketers and designers to get just as involved as everyone else without even having to write one line of code.

Last time’s hackers were able to walk out of The Brandery office with more than just a smile on their face. Strap from The Brandery’s Class of 2014 led a side-hack last year and awarded one winning team with Pebble smartwatches for their ingenuity. Other hackers from last year won Frameri sunglasses, Dell computers, and even three months of office space in Cintrifuse (check out the full article on everyone’s success). This time around, similar prizes will be offered by both sponsors and teams from The Class of 2015; and although goodies like these might be enough to entice some to take part in the event, the real reward comes from providing and receiving valuable input from a rare hacking holiday that only comes around once in a blue moon.

Hackers who survive the twenty-four hour gauntlet of grinding may continue their work with The Brandery or one of the companies from the Class of ’15. Aman Tsegai—coding expert and now Technology Intern for The Brandery—participated in the last hackathon and created some work that was so impressive The Brandery just had to have him. The start-ups from the Class of 2015 are always looking for new faces to join their team (internships, part-time, or full-time), which is one of the best prizes the event can offer.



If you’re interested in attending or even participating in the event, here’s some quick info to get you started:

What: HackOTR offers the opportunity of creating small projects that can make a big difference within a friendly yet competitive atmosphere that fosters intellectual growth. Teams from The Brandery’s Class of 2015 Brandery itself, and others will be challenging hackers to complete core hacks and side hacks, or objective-based competitions where hackers will create what they can imagine in the time they are given. These objectives can range from being marketing/design based or purely technological, but it’s up to the hackers themselves to decide exactly what type of project they want to work on and what they wish to create.

Who: Anyone. Well, almost anyone. We’re looking for people who are genuinely interested in grinding out work for a full twenty-four hour day but having a blast while doing so. You don’t need to be a programmer, start-up aficionado, or even a graduate from college. All you need is some enthusiasm, creativity for making something great, and a focused mind (a few cups of coffee might help too). Tickets are sold and divided into three categories: Product Marketer, Visual/UX Designer, and Developer. Whether you’re someone looking for a team to join or bringing a full squad of your own, we’ll welcome your interest and input.

When: The event check-in officially begins Friday, August 7th at 4:00 PM and continues onward until Saturday, August 8th at 5:00 PM.

Where: HackOTR takes place in The Brandery office on 1411 Vine Street, Cincinnati, OH 45202.

Why: Well, why not? We’ve had immense success in the past and truly believe this kind of opportunity offers an experience that local Cincinnatians have come to love and learn from.

We hope to see you hacking soon! If you’re interested in getting even more information about HackOTR, check out its website and FAQ’s here or email Jess for any questions not already answered on the site.

The Brandery Class of 2015

The Class of 2015 is officially locked, and we couldn’t be happier. We have a killer lineup of founders ready to take their startups to the next level. Here’s some fun facts about the group. We’ll be sharing one hint about the startups every day on our social media accounts for the next ten days— the cartoons will demonstrate the problem each of the startups is solving. Any guesses to the markets we’re tackling this year?

RentShare and Chalky Announce Acquisitions

“This acquisition is a huge milestone and is a testament to all the hard work and dedication we’ve put towards our product and company. We’re thrilled to be joining the i3 Verticals team and I’m incredibly appreciative of all The Brandery did for us over the years to assist in kick-starting and growing RentShare, helping lead us to this opportunity.”

- Ian Halpern, CEO, RentShare


We’re thrilled to announce that two graduates of The Brandery, RentShare (2011) and Chalky (2013), have been acquired. RentShare has been acquired by i3 Verticals, a technology-centric payment company focused on providing solutions to its clients throughout the U.S. Chalky has been acquired by Admittedly, a platform that helps high school students find their dream schools and get accepted.


Charlie and Isaac, the co-founders of Chalky

“The Brandery had a strong positive influence on our foundation and early progress,” said Isaac Madan, CEO of Chalky. “We learned aggressively during the program via a diverse set of mentors and fellow founders.”

When companies enter The Brandery each year, many dream of some day being acquired. It’s exciting to see our graduates reach that inflection point, and we’re anxiously anticipating the next big thing these founders will do. Congratulations to the RentShare and Chalky teams!

Startups in the Class of 2015 to Have New Housing Option

Picture this: You’re a three-person team of entrepreneurs with the next big idea, from, let’s say, San Francisco or NYC or Vancouver. You just got accepted to The Brandery and need to move to Cincinnati within three weeks for the kickoff of the program. You’re spending 18+ hours a day working on your startup. Housing in a new city is the last thing you have time to worry about.

We’re constantly asking ourselves (and our alums), “What can we do to make our entrepreneurs’ lives a little easier?” Year after year, finding affordable housing, close to the office, with a landlord who’s willing to negotiate a short-term lease is a major pain point. What if you could just check a box and know you’re getting the best deal in the best neighborhood?

We’re thrilled to be working with Urban Sites to bring affordable startup housing to our neighborhood in downtown Cincinnati, Over-the-Rhine. For those who live in town, we know the renaissance of the neighborhood is one of the most incredible success stories in the city. The way the few blocks around our office have exploded with restaurants, bars, businesses, and startup offices in the past few years has been inspiring. However, living in the “trendy” neighborhood sometimes comes with trendy prices. Instead of more entrepreneurs moving into the neighborhood where the entrepreneurial spirit is so perfectly represented, more were moving away. If we want this area to become the startup hub we know it can be, we need founders living in it. Rent prices will be slightly subsidized, making them affordable for entrepreneurs’ budgets.

Here’s what’s within proximity of our new startup house:

  • The Brandery – 3 blocks
  • Frameri (2013 graduate) HQ – 3 blocks
  • Sqrl (2013 graduate) HQ – 4 blocks
  • The new Cincinnati startup hub, which will eventually house The Brandery, Cintrifuse, and CincyTech – 2 blocks
  • Roadtrippers (2011 graduate) HQ – 6 blocks
  • Modulus (2012 graduate) HQ – 7 blocks
  • Choremonster (2012 graduate) HQ – 6 blocks
  • Dozens and dozens of incredible, award-winning restaurants and bars, an urban market, concert venues, breweries, and a huge portion of the creative class living and working within 10 blocks

The building will be ready for move-in on June 1, just in time for our 6th accelerator class. Read more about the initiative in the Business Courier.

Procter & Gamble To Offer Up To Two Fellowships to Brandery Companies in 2015

As an expansion of P&G’s continued support of the Cincinnati startup ecosystem, two fellowships will be offered to Brandery companies in the 2015 accelerator cohort. As with our other fellowships, any startup that applies will be considered for the fellowship. Here are the benefits:

1. Direct access to P&G mentors & experts who will help the startup better prepare for solution driven engagements with potential large customers.

2. Active connections with P&G brand teams and executives to inform solution design and go-to-market strategy.

3. Pre-commitment to a paid in-market pilot with a P&G brand as part of The Brandery experience.

4. Opportunities to engage with global senior executives on business strategy.

Specifically for this fellowship, The Brandery and P&G are looking for startups that excel in one of three core areas: Connected Products and Platforms, Seamless Brand Building & Commerce, or Big Data & Analytics. You can read more about these three categories here.

“We’re thrilled about Procter & Gamble’s continued support of The Brandery and our startups. If you’re a startup looking to sell to marketers or work with CPG companies, there is not going to be a better opportunity to change the trajectory of your business.”

–Dave Knox, Co-founder, The Brandery

Procter & Gamble has been an active supporter of The Brandery, including hosting startup pitch events at P&G for brand tech companies, participating in Brand Fusion, helping lead workshops (like Growth Hack Day) and mentoring startups.

P&G’s fellowship offering is going to directly impact startups in our accelerator program, adding even more fuel to the fire for #StartupCincy.

The final deadline to apply to The Brandery is April 16. Apply now.