18 ACC teams participating in Startup Madness

As a volunteer in rural Peru, Joseph Linzon saw a problem. Residents needed electricity for cell phones, laptops and iPods, but they didn’t have a ready source of power. As he traveled through remote villages on foot, the idea came to him. “As you walk you produce energy – kinetic energy, and I was thinking, “How can I convert this kinetic energy, that’s created with the swinging of a foot and charge a battery?” He’s now awaiting a patent and plans to use his prize to develop a prototype and pay legal fees. He calls his invention the Power Sole – with the slogan, “empowering the powerless, one step at a time.”

Joseph, a student at University of Virginia, is just one of 18 student entrepreneur teams from Boston College, Clemson, Duke, Florida State, Miami, NC State, UNC-Chapel Hill, Virginia, Virginia Tech, and Wake Forest participating in Startup Madness on March 14 in American Tobacco.

Angry Birds is like the Power of the Lord?

Last Sunday morning I caught my 5 year old son playing Angry Birds on my phone. We typically don't play games on Sunday. When I recounted this rule, Andrew responded, "But Dad, Angry Birds is like the power of the Lord!" I smiled and said, "Really? Tell me more." He continued, "It's like the birds are the power of the Lord and the pigs and structures are Satan's kingdom. When the birds hit them it's like destroying Satan's kingdom."

He got to play the game a little longer for that thought process.

Mark Cuban and the Missed Opportunity

As I was listening to Mark Cuban in August 2010, I looked around Bay 7 and saw mostly middle aged business leaders. I did see one younger kid and thought, "Those are the type of people that should be at this event!" It was a missed opportunity.

Startup Madness will be a similar opportunity where the younger generation will be able to engage young entrepreneurs from many of the top universities on the East Coast. I know high schoolers may have school, but I am happy to write a note to any principal! If young people want to understand the world they are about to enter, there is no better event to attend.

Wonder if Mark would come back on March 14 and crown the Startup Madness winner among the ACC schools?

Channeled Madness: Austin Rivers vs. Newt Gingrich

Last night's Duke vs. Carolina game was epic. Duke vs. Carolina fulfilled every bit of hype. Austin Rivers was walking on water and virtually unstoppable. Why? After the game he said he was "pissed off" because Carolina said they were going to win.

Austin had what I call "channeled madness." He used his aggression in a positive way and had extreme focus on the court.

Let's contrast that with another prominent figure: Newt Gingrich. His madness is getting the best of him and it shows. He is so upset that it is controlling his actions. This is usually the beginning of one's downfall.

If I was building a startup team in the business world, I would love to have employees with the "channeled madness" of Austin Rivers totally focused on taking out the competition. This year's Startup Madness participants will come to Durham with a similar spirit.

Early Stage Capital: A Necessary Ingredient?

Several weeks ago a group of city officials from Clarksville, TN visited our fair city of Durham to see what we were up to. They didn't expect to find a blossoming entrepreneurial ecosystem and wanted to know more.

Chris Heivly (Triangle Startup Factory), Bob Walker (8 Rivers Capital), and I were asked to spout off our thoughts on how things get done. As I sat there I wondered, "How many venture capital firms are in Clarksville, TN?" We all know the answer to that one. But does that mean all is lost for Clarksville and every other mid size city in America? Absolutely not. There is no relationship between early stage investors and an area's ability to innovate and make things happen.

Does capital help? Of course. But bootstrappers can stir the pot in any given city. May each of us go forth and do so.

When I grow up I want to be an entrepreneur...

As I was driving my 4 year old to school last week I asked the sometimes cliche question, "What do you want to be when you grow up?" Drew responded with, "A Durham Bulls baseball player."

This whole career discussion reminded me of conversations I had as a young man. Looking back it seemed I only had a few career options: doctor, lawyer, insurance agent (since that's what my Dad did). I'm not sure any one pulled me aside and said, "Have you ever thought about buying a business or starting your own?"

This will not be the case with my son. My goal is to teach him the skills to be in a position to have the flexibility and the smarts to "Do More Faster."

You might be an entrepreneur if....

1. You come home and convince your spouse that you are about to take over the world with your new venture and that she will need to work to support you

2. You wait until your potential investors leave the meeting so they don't see you push starting your car

3. You and your family eat black beans and rice most nights (the other nights it's black bean soup)

4. You work for no pay for a year

5. You wake up at 3AM with ideas and can't go to sleep unless you get up and put them on paper

6. You read books like Do More Faster and then realize you probably should read it again in order to apply the principles

7. You patiently wait for another update from Eric Ries's blog StartUp Lessons Learned