How do we create more zebras?
A lot has been written over the last year about the dangers in the startup world of chasing unicorns and the merit in thinking about companies more like zebras. There is so much that I like about that discussion and I’m really excited to see it pushed forward.
The question that has been most interesting to Maria and me with INVANTI is how does the startup infrastructure need to change in order to produce more zebras. It seems that while unicorns are something the world chases, zebras can be something we can proactively create. Zebra companies are grounded in reality, engage many stakeholders, and think about a wide range of outcomes, of which financial gain is only one. We believe strongly that if this type of venture is our aim, we need to build an infrastructure that can create these companies, rather than just wait for them to appear. When we talk about INVANTI, we commonly say, “If the status quo for startup investing is to search and filter, we want our mantra to be identify and build”. In other words, if we want companies grounded in reality, we should start by understanding the reality (a big reason we call South Bend, IN home and a topic of a future post), then thinking about opportunities to do things differently, and finally building the companies that can do so. In our opinion, there is no reason we cannot build much more systematic ways of doing this.
One place to start that discussion is around the pervasive narrative that an entrepreneur = someone with an idea. I think most people would actually agree that this is not true, but for some reason, it doesn’t translate into how we support entrepreneurs in their earliest stages. Incubators, accelerators, fellowships, competitions — all of these start with asking, “Who are you and what is your idea to change the world?” Don’t get me wrong — there are people out there who can navigate this early part of entrepreneurship well. But I think we are missing the boat on a whole other group of people that if told, “entrepreneurship is a tool, find a problem to apply it to”, many more would come into the fold.
Our goal with INVANTI is to be a generator of these companies; a place where we can match raw entrepreneurial talent (before they have ideas) with complex, thorny problems, and intentionally look for the opportunities to build zebra-esque companies. We think we can bring in people that don’t necessarily self-identify as entrepreneurs into the fold. We think we can play a role in increasing diversity in the startup space. And finally, we think we can start to systematically create the kind of companies that make money because they are making a positive impact.
Dustin Mix is cofounder of INVANTI.
If you’re interested in learning more about INVANTI, check out this podcast with Maria and Dustin and this podcast with Jada from Cohort 1. (Shout out to our good friend Jacob Titus at https://westsb.com for having us on). Also check us out at http://invanti.co. We have big plans for Cohort 2 in 2018, so stay tuned on instagram, twitter, and facebook, and medium to hear more!
