February 2021

It’s 2021 and the HV Venture Hub is entering its fourth year of operation focused on creating opportunities for connections and collaboration across the HV entrepreneur ecosystem. Despite the COVID 19 impact to the local economy, entrepreneurship continues to grow and thrive in the Hudson Valley. So let’s continue to build momentum! 

  1. We are happy to announce HV Mentors, a new mentoring program designed to support HV entrepreneurs. 
  2. We are excited to hold Venture Fest - Spring 2021 throughout March with weekly online events to bring together the ecosystem. 
  3. We are developing a Resource page, one place where HV entrepreneurs can go to find valuable resources that can help them to succeed.

See details below.

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Entrepreneurs

 

Venture Fest

With Spring right around the corner, it is time to come together to celebrate and support entrepreneurship in the Hudson Valley with Venture Fest - Spring 2021 hosted by the HV Venture Hub.

Hudson Valley Venture Hub logo

 

This Venture Fest will have a strong mentoring theme with the launch of HV Mentors, a new mentoring initiative out of the HV Venture Hub. 

Register Here 

Venture Fest will be held on Thursdays in March as online Zoom events. All the events will be held 4:00-6:00pm. 

HV Mentors Program Kickoff (Thursday, March 4)

 

Launching an exciting new mentor program, HV Mentors, to support entrepreneurs across the HV, both high growth startups and growth-oriented small businesses.

 

    • Keynote: Dan Sommer, serial Ed-Tech entrepreneur, investor, and sponsor of the new HV Mentors program. Hear about Dan’s journey as a serial Ed-Tech entrepreneur with a highly successful exit and on to his next Ed-Tech startup. Dan will also share his vision and passion for mentorship and why the Sommers Family Foundation is the supporting donor for HV Mentors.
    • HV Mentors Program Launch - Eliza Edge, HV Mentors Program Manager, SUNY New Paltz School of Business. Learn about the exciting new HV Mentors Program and how entrepreneurs and mentors can participate.   
    • Meet the Mentors Panel - get to know some of our HV Mentors and the impact mentoring has had on their businesses and lives.

 

  • Moderator: Eliza Edge, HV Mentors Program Manager

 

    • Leon Greene: Co-founder and Director of Truveris, Managing Member of the HV Startup Fund
    • N. Damali Peterman: CEO, Breakthrough ADR & Damali Law
    • Dan Sommer: Ed-Tech Entrepreneur, Builder, Investor, Founder of Trilogy Education
    • Dan Leader: Founder at Bread Alone Bakery
  • Collaborative Online Whiteboard Activity - brainstorm mentoring needs and future mentoring programs you would like to see supported by HV Mentors.

HV Mentors Live! (Thursday, March 11)

 

Last week you got to know some of our HV Mentors. This week, see them in action mentoring and experience the high value of mentoring.

 

 

  • Entrepreneur Case Study Mentor Panel

 

    • Burbio, a late seed stage startup, with Co-founders Dennis & Julie Roche challenging the mentors to help them address some specific growth challenges.
    • Mentor Panel
      • Leon Greene: Co-founder and Director of Truveris, Managing Member of the HV Startup Fund
      • N. Damali Peterman: CEO, Breakthrough ADR & Damali Law
      • Dan Sommer: Ed-Tech Entrepreneur, Builder, Investor, Founder of Trilogy Education
      • Dan Leader: Founder at Bread Alone Bakery
  • Open Forum - opportunity for the audience to interact with the Mentor Panel 
  • Rocket Pitches - watch several SUNY New Paltz student 90 second “rocket pitches” and learn from the panel as they provide guidance to the students

HV Entrepreneur Panels (Thursday, March 18) 

 

Learn about different growth strategies from leading high growth startups and growth-oriented small businesses.

 

 

  • High Growth Startup Panel

 

 

  • HV Women in Business (Growth Oriented Small Business) Panel 

 

 

HV Entrepreneur Pitch Fest (Thursday, March 25)

 

Learn how to pitch your business to investors and the community. Each category of pitches (High Growth Startups and HV Food & Beverage Small Business) will compete with 3 minute pitches with awards for 1st Place ($1000), 2nd Place ($750), 3rd Place ($500). Investors keep an eye out for these companies -- two of the companies that pitched during Venture Fest - Fall 2019 subsequently pitched to the HV Startup Fund and secured significant investments. 

 

 

  • High Growth Startup Pitches

 

      • Eliot Wilson, Founder and CEO, Allison Clements, COO: FUTUR, LLC
      • Scott Sclar, Co-founder and Chief Revenue Officer: 1o.io
      • Nick Naclerio, CEO: Mmmly  
      • Others - TBD

 

  • HV Food & Beverage Small Business Pitches

 

  • Serendipity Networking - blind networking, get dropped into multiple Zoom breakout rooms with people you don’t know well, to get to know each other and to find at least one way to help each other to succeed.

 

Register Here

For more information, please contact Tony DiMarcoHub (dimarcoa@newpaltz.edu)

Investors 

Investor Spotlight! This Investor Spotlight is with Tim Dean, Chief Executive Officer of Marshall & Sterling, Inc., and Founding Member of the Hudson Valley Startup Fund (HVSF). How did you get involved in angel investing? I was looking for a way to help prime the pump of local entrepreneurship while also getting experience in early stage investing. When I was approached by the HVSF founders, who were of a  similar mind, I jumped at the opportunity.

 

What's your favorite part of the angel investing process? 

Helping local people build businesses in the Hudson Valley with local employees is a big part of it. I also have really enjoyed learning about the angel space as an individual investor. That’s been new to me, even the deal-making terms and lingo. But seeing how we have given local business people the opportunity to create something in the region is definitely the most rewarding part of this.

What do you wish you could tell entrepreneurs/founders as they're getting started that might help them when they're seeking angel investment? 

You need to find good accounting, insurance and legal advisors who will help you build a plan that shows that you are serious and thoughtful about your business. You should also have evidence that you have already invested personally in your business — your own funds and your own sweat equity. 

I would also encourage them to develop realistic timeframes for break-even and profitability, as opposed to painting an overly optimistic picture they think will satisfy investors. My experience is that it takes twice as long and costs twice as much as they initially think it will. You will lose investor interest if they think you’re not realistic.

Any advice for investors based on your experience in the insurance world?

Investors should be cautious of any email or internet solicitations they receive and under no circumstances should they ever wire anybody money without confirming with the individual that the information you’re acting on is accurate. 

Software makes it easy for hackers to monitor email and step in when transaction details are being discussed. They can jump in claiming to be a representative of your counterpart and request you send money to a different account. Verify any changes like that offline. Never wire money or send checks or credit card info to anyone without verification first! Call, FaceTime, or Zoom with the proper person to confirm any changes. 

Tell us a little bit about yourself — family, what you do in your free time

I have a child Morgan who lives in NYC. Their  passion is playwriting and modeling but they are working at an insurance startup to pay the bills during the pandemic. 

I have a son Troy who lives in San Luis Obispo, California. He  works as a design engineer for SRAM, a bicycle components manufacturer, while living the surfing and mountain biking life on the coast. 

My wife Alicia is a retired IBM Chemist who has put up with me for over 38 years! We enjoy playing tennis, hiking, biking, running and traveling when we can. Anything outdoors. I also love photography and woodworking. 

I am very grateful for what the Hudson Valley has allowed me and my family to accomplish. I consider my investment in the HVSF to be a return on that success. If it turns out that some or all of the companies we have funded are unsuccessful, I will still be happy that we funded companies who tried their hardest and spent their time and money here in the Hudson Valley. If we hit it big with one or two, that will be icing on the cake.


Entrepreneurs and investors seeking more information on the HV Startup Fund can contact Andrew Schulkind, Managing Member, at info@hvstartupfund.com. 

 

For more information about HVSF, please visit our website at www.hvstartupfund.com.

Leaders

The HV Venture Hub at SUNY New Paltz School of Business is pleased to announce HV Mentors, a mentorship program for growth-oriented entrepreneurs in the Hudson Valley, including high growth startups and growth minded small businesses. HV Mentors provides knowledge and guidance to the region’s next generation of business leaders. 

Whether you’re trying to increase revenue, or address a general growth obstacle, HV Mentors helps entrepreneurs take their company to the next level. From a pizza place with the best sauce ready to package, to hiring a key position in a tech start-up, you might be a growth business, eligible for free mentorship. Apply for mentorship here.

Areas of mentorship include but not limited to:

  • Staffing for growth
  • Budget management
  • Strategic partnering
  • Obtaining investment
  • Creating business plans
  • Adding a new product or service extension
  • Expanding to new retail or office locations
  • Targeting new market segments
  • Increasing sale capacity or effectiveness
  • Improving operational systems and efficiency 

To be eligible, businesses must fit within the below criteria to be considered for mentor placement.

 

  • Located in the Hudson Valley
    Mid-Hudson Region (Westchester, Rockland, Putnam, Dutchess, Orange, Ulster, Sullivan) and extending to Greene and Columbia Counties

 

  1. Business Stage
    At least $500 in revenue and operating for 12 months.
    OR have a production pilot with direct market feedback.
  2. Business Revenue
    Less than 1 million dollars in revenue over 12 months.
  3. Growth-Oriented
    Applicants must have a specific and targeted area they want to focus on.

HV Mentors is comprised of a pool of mentors including generalists with extensive business experience and acumen, and Subject Matter Experts (SMEs) with deep expertise in areas such as legal, financial, marketing and communications, technology, angel and venture funding, mergers and acquisitions, strategic partnerships, and other key business areas. Apply to mentor and make a difference to a business owner once in your shoes.

The official launch of HV Mentors will happen during Venture Fest - Spring 2021 throughout March. 

Eliza Edge was recently named HV Mentors Program Manager.  Eliza is a HV entrepreneur as the Co-founder and CEO of Cahoots, the first-ever children's clothing membership that artfully repairs and shares clothing to reduce the impact of production. Eliza is also an adjunct professor teaching social entrepreneurship at Bard College. 

For more information, contact Eliza at edgee@newpaltz.edu

Service Providers

Hudson Valley Venture Hub logo

Calling all HV services providers and any other organization that supports HV entrepreneurs and small businesses. The HV Venture Hub is developing a Resources Page on the HV Venture Hub website that is intended to be a valuable resource for HV entrepreneurs and small business owners looking for specific resources that can help them to succeed. Organizations can opt in to being a part of the overall directory of resources. 

Services Providers that support entrepreneurs and small businesses can include, but are not limited to:

  • Business & Professional Services
  • Accounting
  • Financial & Insurance
  • Legal
  • Computers & Technology
  • Advertising & Media
  • Website & Internet
  • Manufacturing, Distribution, & Wholesale
  • Employment & Staffing
  • Education
  • Local Government 
  • Economic Development
  • Audio Visual Services
  • Business Associations
  • Consultants
  • Printing & Print Solutions

In addition, the HV Venture Hub has developed a network of over 100 Leaders who have programs and initiatives designed specifically for entrepreneurs. These can include, but are not limited to: 

  • Incubators / Accelerators / Coworking Spaces / Maker Spaces
  • Equity funding resources (Angel Funds & Networks)
  • Existing networks (e.g., women’s networks, industry networks, Meetups)

Each directory listing will link to a dedicated profile that can be either a standard listing or upgraded listing as described below. 

Standard listing: member business name, logo, and basic contact information

 

Upgraded listing: Photo Galleries, Videos, Search Description, Maps, Company, Contacts, Membership Type, Coupons, Job Openings


The Resource Page will be powered by Growth Zone.

The directory listing (basic or upgraded) will be available for a $75 annual membership fee in the HV Venture Hub. For more information, please email Tony DiMarco, Entrepreneur In Residence, HV Venture Hub (dimarcoa@newpaltz.edu)

Before Silicon Valley, The HV

Farming the Hudson River

This is not a fish story. It is a short read about the 9,000-year history of the Hudson River’s economic ecosystem. Our story begins in Dobbs Ferry with an ancient human ancestor, and a small pile of oysters. After finding, steaming and enjoying his catch, he leaves an oyster shell midden (pile), around 6950 BC. His oyster shell pile becomes an advertisement for fresh oysters today – dig here!

Oysters – Aw Shucks

Photo by Katie Mosher

Hudson River farming started with the lowly oyster, the first product of the Hudson to be commercialized. Viewed as a practical metaphor, the oyster shares behaviors with entrepreneurship. As a newly spawned oyster it floats atop the water in search of a perch (opportunity). As an adolescent, the oyster thrives by resembling a factory processing up to 50 gallons a day of river water. In adulthood it possesses adaptive sexuality, agility to reproduce. Last, but not least, oysters build welcoming environments for fish and crabs to thrive. Startup, sustainability and scaling at work.

Back on land, oysters made a major impact on entrepreneurship. Beginning with Henry Hudson’s arrival, a robust food chain was built.

  1. Oystermen profited from harvesting oysters from a 350 square mile oyster reef, with zero product cost.
  2. The oyster boats created demand for middle people- distributors and delivery.
  3. Oyster popularity and low cost created street cart entrepreneurs, an early on-the-go business model.
  4. The hospitality industry saw a boom in startups, and the beer industry flourished. Matthew Vassar in Poughkeepsie opened an oyster and beer bar in the basement of the current Dutchess County Court House in the mid-1800’s.
  5. Oyster shells were transformed into lime, that went to making mortar, for stone and brick buildings. Trinity Church Wall Street was built from oyster lime mortar. Crushed oyster shells were also used as a road building material.

The one thing the Hudson River oysters did not do was produce pearls. It took another 300 years (1916) to invent commercial pearl farming in Japan.

The Grand Central Oyster Bar in Grand Central Terminal and Trinity Church – Wall Street are well worth a visit.

A Hudson Valley Magazine article from March 2020 by Mike Diego describes the plan to bring oysters back to the Hudson River.

 

Photo by Rosie Cohe

 

Part II: Farming the Hudson: fishing, trapping and ice in our next monthly edition

This Before the Silicon Valley, the Hudson Valley blog offers a 400-year narrative journey honoring the icons of entrepreneurship and their impact on invention, innovation, and commercialization in the Hudson Valley.

Don Delaney

Contact welcome: Donald J. Delaney, HV Entrepreneurship Historian & Blog Writer for the HV Venture Hub at SUNY New Paltz. You can reach Don at don@dondelaney.com

 

© Donald J. Delaney 2020

Events

Comments? Email Tony DiMarco at dimarcoa@newpaltz.edu