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Entrepreneurship

Women on Top in Tech – Emily Rotolo, Founder/CEO of SimpleForms

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(Women on Top in Tech is a series about Women Founders, CEOs, and Leaders in technology. It aims to amplify and bring to the fore diversity in leadership in technology.)

Here is our interview with Emily Rotolo, Founder/CEO of SimpleForms. My company actually just went live on a crowdfunding website to bring accredited and non-accredited investors the ability to invest in startups.

What makes you do what you do?

There are a few things!
I realized I can help more people in the world from the CEO chair of a Public Benefit Corporation then I can working at the non-profit I was at helping 3 people at a time. Mix that with the fact that I lived a problem SimpleForms now solves. Luckily I was working at a Startup in Utah when I first encountered the issues around employment documents, the lucky part was that I was in an environment that was motivating and supportive. It really helped me realize that if you are not building your passion you are only helping someone else achieve theirs.

How did you rise in the industry you are in?

I went to Georgetown University where I wanted to be a doctor. However, I thought I should probably try and internship in another field before really committing. It was my junior year of college when I joined Bisnow Media as their first ever intern ( it was acquired this year) and I was hooked on the startup culture. I went from there to my goal company to work for in the Startup world which was Summit Series. I was a part of Summit Series when we purchased Powder Mountain. In these two startups I learned more than I could have ever imagined.

Why did you take on this role/start this startup?

It’s definitely a challenge, especially being a female. I get asked the most inappropriate questions from investors, and each time it makes me stronger. The idea that something is challenging is really an exciting fact, not a deterrence. Also, I am REALLY open to help. I ask for it and seek it out, we’ve built amazing mentors and advisors into our company. So yes am I out of my comfort zone… every day. Did I learn to hire smarter, yes! Does that make it even more challenging sometimes — yes! But I couldn’t sit by idol. The idea that as a population we fill out government regulated forms without assistance just isn’t right, especially when it affects every paycheck in the country.

Do you have a mentor that you look up to in your industries or did you look for one or how did that work?

YES! I love my mentors. We have advisors (official and non-official) and tons of mentors. We were fortunate to complete Techstars this year, which if you know starts with mentor madness. The key is to really find someone you connect with whether it’s industry-specific or not. We do have some that are very industry specific joining us from Inuit specifically Turbo Tax, but then we also have mentors that build hardware, so while it might not seem like we have a lot in common the experiences and conversations are what elevate a mentor relationship
If you haven’t watched it yet- Ted Talk: The Art Of asking — It really allowed me to find the best mentors for our company.

How did you make a match if you and how did you end up being mentored by him?

One of our non-techstars mentors came from our engineer. He was friends with the VP of engineering at GoFundMe, so with him being the first employee, he was really able to help coach us and show us what it is going to take to make this work. The key is finding not only the mentor that you can connect with and have open, honest, vulnerable conversations but also incentives them so that they work that much harder to help you succeed.
I have 2 personal mentors that I’ve known for years one became our official advisor with his brand knowledge and design expertise the other, is a huge support system for me to turn to about the struggles of being a female founder, or the ups and downs of building a team. It’s a roller coaster!

Now as a leader how do you spot, develop, keep, grow and support your talent?

We have two really young employees, a college grad, and a college dropout. They are my favorite! I wanted to hire me when I was an intern at Bisnow. A sponge, someone with a thirst for knowledge and want to learn. Watching them grow has been one of the most exciting things to date. We focus on really deep learning, training, and onboarding in the beginning followed by autonomy for the second month. During the first month, it’s important to find the “puzzle piece” what made them want to join our startup? what excites them about what we are building, what’s the hook? The second month is really a proving point, can they keep up with outpace, does the work they are doing excite them, and can they bring new fresh ideas to our meetings. This level of independence and respect has really worked with our team.

We also do fun things along the way! If you stay with me for one year you get your birthday off PTO. Year two you get a second day until ideally you’re with me for 5 years and you get the entire week of your birthday as a paid vacation.

Do you consciously or unconsciously support diversity and why?

Consciously and unconsciously. We hire the best candidate for the job. We’ve been lucky to have a very diverse team, with a founding team of two females and two males. I wish I could say I favor females to hire, or race, however, any favoritism doesn’t help the system in my eyes.

I want to build the best product and to do that we need the best team. We do however Consciously give back to more diverse areas as a public benefit corporation we give back to low-income education.

What is your take on what it takes to be a great leader in your industry and as a general rule of thumb?

It’s so hard! Just the other day I had one of my employees tell me that because he’s from the west coast and I’m from the east coast there is a tone difference and attitude difference, which is hard for him to feel like he’s doing a good job. (Being from the east coast I rolled my eyes). However, it’s really important to listen and learn what your employees need. I know that when I have a manager I need them to tell me “good job” we have a few of those on our team. We also have the employees that want to hear “good job” as a pay raise or promotion, or even just an afternoon off, or email announcing it to the team.
Really listening and learning how your employee’s work will make you a better leader. I try to stress, it’s not about the hours at the desk but the work that’s getting done. So if my employee doesn’t feel well, you’re not a child you don’t have to convince me, but if you’re going to stay home your work should reflect the same respect as if you were in the office.

Advice for others?

I could fit this into every answer: TRANSPARENCY — explain it. What you are doing and why. Especially in the startup world, I think it’s really hard on employees when they have no idea what’s going on with the company, upper management, or the founders. I share my schedule, my action items, my weekly updates as well as probably too much information. But it all comes together when you’re team has a question or you need to ask for help because you were transparent there is a better understanding.

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Callum Connects

Rishabh Singhvi & Varun Saraf, Co-Founders of Why Q

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Surprised by the lack of delivery services available for local Singaporean hawker stall foods, Rishabh and Varun started their own delivery service.

What’s your story?
Varun and I moved to Singapore in 2008 and soon turned into foodies. After completing our studies at SMU, we worked in corporate offices in the Singapore CBD for 4 years. Here, we faced the problem of long queues and found it hard to find feasible delivery options on a day to day basis. We made it our goal to help others like us, so they don’t face the same problem of finding affordable yet tasty options to eat their daily meal. The name asks all those queuing up at food courts and hawker centres a simple question – Why Queue … when we can bring Singapore’s favorite hawker food to you?

What excites you most about your industry?
The Hawker culture is the most exciting and intriguing part of the food industry in Singapore. It is deep-rooted in the local Singapore culture. There is rich variety of cuisines available under one roof, food is delicious and very affordable. We were very surprised how this part of the food industry was completely ignored by other food deliveries.

What’s your connection to Asia?
I was born and brought up in India and have been staying in Singapore for the past 10 years.

Favourite city in Asia for business and why?
The ease of running a start-up and the professionalism makes Singapore my favourite city for business. It has the most business-friendly regulations, low start-up costs and takes only a week to register and get your business going.

What’s the best piece of advice you ever received?
“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.” – Jeff Bezos

Who inspires you?
Hawker Uncle and Aunties are our Hawker Heroes. Most of the stalls are family-run businesses. The dedication and hard-work that they put in is commendable. They come to the hawker centre at 3am to start preparing food for the day and leave only in the evening after cleaning and washing everything.

What have you just learnt recently that blew you away?
We are leaning so much about our hawker partners through our #HawkersOfSG series, inspired by #HumansOfNewYork. For example, one of our hawker partners was into advertising (until the 2008 recession started, after which he started one of the most popular hawker stalls in the country) while the other used to sell and ride Harley Davidson bikes (and now sells black pepper rice bowls). Their stories and how they turned into our Hawker Heroes continues to inspire us and blow us away.

If you had your time again, what would you do differently?
I think I haven’t reached that stage in life yet where I look back and want to do things differently.

How do you unwind?
Watching and playing football 🙂

Favourite Asian destination for relaxation? Why?
Bali, definitely. One of the most beautiful and chill places.

Everyone in business should read this book:
Zero to One by Peter Thiel

Shameless plug for your business:
Cheapest and largest Hawker Food delivery in Singapore.

How can people connect with you?
On whatsapp at 90268776 or email at [email protected]

Twitter handle?
We’re on Instagram – https://www.instagram.com/whyqsg/ and Facebook – https://www.facebook.com/whyqsg/

This interview is part of the ‘Callum Connect’ series of more than 500 interviews

Callum Laing is an entrepreneur and investor based in Singapore. He has previously started,
built and sold half a dozen businesses and is now a Partner at Unity-Group Private Equity and Co-Founder of The Marketing Group PLC. He is the author two best selling books ‘Progressive Partnerships’ and ‘Agglomerate’.

Connect with Callum here:
twitter.com/laingcallum
linkedin.com/in/callumlaing
Download free copies of his books here: www.callumlaing.com

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Entrepreneurship

Science is the Next Big Thing in Startups

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From pharmaceuticals to petrochemical processes: Newcomer companies and investors and investors alike are setting their sights on science. How the start-up scene moves beyond the mobile apps bubble…

For the last two years Silicon Valley analysts and venture capitalists are anticipating the burst of yet another bubble. This time, under the risk are the mobile start-ups which constitute the biggest share of the market. Out of 50 companies listed in Forbes’ “the hottest startup of 2015” (by valuation) only six companies are based on innovations in other-than-mobile area, one company provide cleaning services, while the rest are diverse mobile apps.

Meanwhile many products listed can be barely called innovative. A significant proportion of the listed start-ups are texting apps, apps for people search (starting from business partners to life partners) or delivery services. While those services can definitely facilitate one’s life, in general they differ from their predecessors by only a narrower audience.

Many venture investors expect stagnation if not decrease on the markets, which is why they start to transfer their capitals from start-ups offering customers software to start-ups offering specific solutions for existing businesses. Such companies are expected to demonstrate more stability in the near future.

The Market for Mobile Apps Might be Saturated

Back in 2012 a talented entrepreneur could walk into a venture capitalist’s office, say his startup was a mobile-first solution for pretty much any problem (payments! photos! blogging!), and walk out with a good-size seed investment. “That pitch was enough to get going,” says Roelof Botha, a partner with VC firm Sequoia Capital. “It’s not enough anymore.”

“I think investors are bored with investing in another messaging app. And our idea is crazy enough that it might just work. ”, has declared in 2014 Nadir Bagaveyev a founder of a start-up using 3-D printers to make rocket engines. By 2016 the company attracted investors funding sufficient to launch its first rocket.

Pharma and Biotech Start-Ups in High Demand

Currently the most successful science-based start-ups are the companies offering innovative solutions in the field of pharmaceuticals and biotechnologies. It’s noteworthy that despite the previous revelations and even judicial proceedings the list of the most expensive start-ups still includes Theranos, blood analyzing laboratory, whose story did not descend from the main pages of the global leading media from 2014.

It first amazed the audience with its fantastic take-off and then with its collapse. One of the crucial parts of the success story of this start-up is its fundamental difference from the majority of the services produced in the Silicon Valley. Unlike the others, it was not a story of yet another beautiful gadget for communication or mobile app, but the story of the scientific idea which intended to conquer the world.

The great success stories in other scientific areas are now happening on occasional basis. However certain facts allow to predict that the situation is to change soon. One of such factors is growing interest among the big corporations to attract innovative solutions from outside to develop their businesses.

Given the accelerating pace of scientific and technological development of the world, the activities of internal R & D departments are often turn to be insufficient to ensure stable development of innovative business. Outsourcing of the R&D may become the efficient mechanism to stimulate the growth of the company. And high-tech start-up can certainly benefit from it.

Start-Up Technology for the Petro-Business

In December, 2016 world leading companies in the field of gas processing, petrochemicals and chemicals announced their intentions to enforce their R&D capacities by attracting start-ups. 3M, AkzoNobel, BASF, The Dow Chemical Company, DuPont, Henkel, Honeywell UOP, LG Chem, Linde, Sibur, Solvay and Technip together created a global stage for startups and investors.

“The petrochemicals industry can and must rely on the potential of open innovations to facilitate further inventions and implementation of new solutions in all major application areas, from construction and medicine to packaging and 3D printing. Thanks to the participation of international partners, IQ-CHem is now the largest global project within the industry which attracts innovative solutions and provides for their implementation into practice,” said Vasily Nomokonov, Executive Director of Sibur, a company which coordinates the project.

Positive Experience in Chemicals and Beyond

Some of the listed companies have already gained positive experience in working with start-ups which may have driven them to elaborate a systemic approach to attract innovative companies.

At the beginning of 2016, SIBUR and RRT Global start-up reached an agreement to build a pilot plant for isomerization based on RRT Global technologies in Sibur’s Industrial Park SIBUR “Tolyattisintez”. According to Oleg Giyazov, co-founder and CEO of RRT Global cooperation with a large corporation bring significant advantages to his company.

“By cooperation with Sibur we get a huge industrial experience that enables us to develop technologies and solutions better fitted to the market demand. This advantage is often not given due attention, but we, on the contrary, see significant opportunities in it. Currently, RRT Global cooperates with several companies around the world” he said.

Another petrochemical leader BASF enjoys successful cooperation with Genomatica start-up. In 2013 BASF started the production of 1,4-butanediol based on renewable feedstock (renewable BDO) using Genomatica’s patented process and in 2015 the license was expanded to the Asian market.

Unlike traditional forms of cooperation between a start-up and a venture capitalist, a cooperation between start-up and a relevant corporation allows to minimize the risks associated with investing in a potentially promising idea where the key word is “potential” (but not “guaranteed”). While delivering services in the same field as the start-up the corporation gets an opportunity to more effectively and accurately estimate the market value of an innovative idea and to support its implementation.

Structural Changes Ahead: Outlines of A Coming Market

In the short term prospective, possibly in 2017, the global start-up market will face structural changes – both in terms of start-ups professional orientation and of funding mechanism. In the future science-based start-ups will dominate the market and will change our lives at a deeper level than the way of sending a text message or searching the restaurant for an evening meal. To be more concise this is already happening in the pharmaceutical industry, and the other scientific areas are to follow.

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About the Author

This article was written by Dominik Stephan of Process Worldwide. See more.

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