Episode Summary:
Emily Rich is a co-founder and partner at M8 Ventures, a venture fund that focuses on investing in tech startups during their “pre-seed” stage. Emily is also Director of Startups for APAC, where she has been tasked with helping to drive startup growth in the Asia-Pacific region. This is a special episode featuring guest host Alan Jones, an investor and veteran of Australia’s startup ecosystem who has supported Australian startups independently and through BlueChilli, Blackbird Ventures, Pollenizer Ventures and Startmate. In the conversation, Emily discusses how she got her start co-founding a machine learning startup, and her belief that while bootstrapping a business may be an appealing prospect for early founders, that seeking investment early and taking what she calls “smart money” is often a better path for fast and sustainable growth.
Chapters:
00:00 Introduction to Day One Podcast
00:17 Meet Emily Rich
00:41 Emily's Background in Technology
02:47 Early Programming Experiences
05:48 Education and Cybersecurity
06:52 Starting Gemsoft
09:23 The Startup Community in South Australia
11:09 Gemsoft's Initial Product and Pivot
13:49 Transitioning from Hardware to Software
14:24 Growth and Acquisition of Gemsoft
16:50 Influential Australian Startups
18:45 Government Support for Startups
19:19 Talent Shortages in the Ecosystem
21:30 The Importance of Community Collaboration
23:09 Gaps in the Current Ecosystem
24:50 Encouraging More Founders to Invest
26:23 Advice for New Entrepreneurs
30:12 Future Developments in the Startup World
32:50 Closing Thoughts and Acknowledgments