Uncategorized

Preparing For Acceleration and Hyper-Growth – Spotlight On Austin, Texas

Austin is proving to be one of the decade’s biggest economic success stories. Experts participating at a recent Austin Chamber of Commerce event cited the city’s diverse and growing employer base, highly qualified workforce, and desirable quality of life as three factors driving its current and future prosperity.

Austin is a fantastic location for any tech company, from start-up through to hypergrowth.

Without finance, a business can’t thrive, and the Texas state capital is luring venture investors in record numbers. In 2021, funding more than doubled, with $5.5 billion invested into 412 deals. And, as the number of completed transactions rises, so does the average transaction size, with the top ten deals each exceeding $100 million.

There has been a clear shift of investors away from major tech hubs such as the Bay Area and New York towards Austin, cementing Austin’s status as the country’s hottest innovation metropolis, with investment opportunities to match. Breyer Capital, 8VC, and Bedrock Capital are among the major firms establishing offices in Austin. Meanwhile, Austin-based venture capital firms like S3 Ventures are expanding their operations.

Set up in Austin and you’ll have access to a significant amount of talent due to the rise of a highly trained workforce, primarily from California, lured to the city by its economic prospects and attractive lifestyle. Unfortunately, your competitors will as well.

As you begin to scale, your workforce requirements will evolve. Whilst gradual expansion may have been manageable in the past and something the founders could look after alongside their day jobs, once you acquire funding and shift into growth overdrive, your investors will expect you to move swiftly, bringing in the best talent at short notice. You’re going to require a hiring strategy. In fact, demonstrating that strategy will frequently be a requirement for obtaining funding in the first place.

Let’s talk about money. Pre-seed money (also known as launch investment) is often self-funded by entrepreneurs, but this is rarely a long-term sustainable strategy. Consequently, seed funding is sought to expedite product development. Typically, venture investors supply this, when they believe in your concept, see potential, and are prepared to take calculated risks.

Founders should be gathering expertise around them at this early stage; selecting and engaging with experienced advisors to assist in laying the groundwork for rapid and sustainable growth. Because of the influx of venture capital firms into Austin, initial investment may be simpler to come by right now, so long as your pitch and operating strategy are convincing!

When pitching VC’s, you’ll have a greater chance of securing funding if you can demonstrate a properly designed growth strategy, replete with strong role profiles and hiring timetables, fit for purpose assessment processes, and an equity-backed staff retention scheme.

It’s generally accepted that the most significant causes of failure in start up’s is lack of sufficient seed capital and timely access to the right talent. Our goal at Morpheus is to assist Austin tech founders in overcoming these early hurdles, by ensuring you have clear plans in place to help you acquire funding. Then, once your idea is funded, our team will work with you every step of the way to ensure you execute your plan with speed and precision, assisting you in attracting, securing, and retaining the critical talent your company will require at each stage of growth.

In our experience, partnering with a human capital advisor who understands the essential growth levers for scale up’s during the pre-funding stage, improves your chances of receiving seed investment and gives your company a competitive advantage.

The right partner will enable you to pipeline, attract, and onboard the top software engineers and sales professionals in the domestic U.S. market and beyond, putting you on the front foot when it comes to winning the war for talent.

Whatever stage of funding your business has reached, it’s critical not to lose sight of the most vital factor in every start-up’s success: timely access to talent. From product design to answering the phone, you and a small group of co-workers were in charge at first. Now, while it’s critical to have access to the right skills at every growth phase, it cannot primarily remain the responsibility of the founders, or else you risk becoming your own growth bottleneck.

In a city where talent abounds but competition for that talent is intense, partnering with an experienced talent solutions provider is a sure-fire way to ensure on-demand access to the right skills. For founders who are too preoccupied with running a rapidly expanding company to think about hiring, Morpheus provides the human capital platform you are going to need.

Whether you’re just getting started and looking for your first round of investment, or you’re ready to scale quickly, our team can help. To help obtain the finance and land the crucial talent you’ll need to make your firm a success in Austin’s vibrant economy, contact Morpheus today at (001) 346 200 7236 to schedule a discovery session on the human capital considerations you should be thinking about right now.

Morpheus, 111 Congress Ave Suite 500, Austin, Texas

https://www.morpheus-group.com/

ATC Announces New CEO Ahead of its 30th Anniversary

AUSTIN, TX — The Austin Technology Council (ATC) has selected acclaimed speaker, author and consultant Thom Singer as its next Chief Executive Officer, ushering in a new era for the local business council as it reemerges in a post-covid era and prepares for its 30th anniversary. 

Established first as the Austin Software Council in 1992 by the Austin Technology Incubator and IC2 Institute, ATC currently represents more than 200 companies, providing a platform for communication and value-based programming to lead, support, and connect those working within the tech industry, which represents nearly a third of the local workforce.

Thom Singer Headshot

Thom Singer, CEO, Austin Technology Council

Austin is known as a leader in the world of technology, and we cannot take that for granted,” Singer said. “I want to see ATC continue to be a catalyst for future growth and am seeking engagement from leaders who want to embrace the best parts of our tech community. We need expanded dialogue and collaboration to continue to lead.”

Singer assumes the executive role as ATC finds its footing again post pandemic, resuming full event operations, including its upcoming 30th anniversary celebration, Battle for Austin Tech, and introducing first-ever Austin Tech Awards, a series dedicated to honoring those who are shaping the future through technology and innovation. Companies with a local presence are encouraged to apply by July 1.  

Singer will also lead the organization in planning its annual CEO Summit, a single-day conference designed to prepare c-suite executives for the year ahead. This year’s keynote will be Sarah Jones Simmer, CEO of Found and former Bumble executive, preceded by a day of panel presentations on relevant industry and business topics. 

“Thom has made a career of helping technology companies and associations throughout and will be an inspiring leader for our community as technology continues to drive the Austin economy,” said Scott Francis, CEO and Founder of BP3 Global and chair of the ATC board.  “Who better to connect, network, and community-build than someone who has made a career out of helping other people make transformative connections in their professional careers?” 

Singer comes to the non-profit after more than a decade of work as a speaker and trainer on topics such as business relationships, networking, and leadership. He’s delivered more than 1,000 presentations, written 12 books, and hosts several podcasts. His background includes sales, marketing, and business development for Fortune 500 companies and entrepreneurial ventures, as well as executive search consultancy.

“Continuing to expand the sense of community that has done so much to define Austin’s tech industry will be challenging but crucial as companies face a more distributed and decentralized workforce, and I expect ATC to play a key role in that transition,” said Lawrence Waugh, CEO of Calavista Software and ATC board member. “I’m excited to work with Thom on that, I think he’s the perfect person to advance the amazing work that Amber Gunst (former CEO) has done over the past 4 years.”

 

The Austin Technology Council is a unifying voice and collaborative platform for innovation and technology, supporting the growth goals of its member businesses by providing knowledge and access in the areas of capital, talent, business mentoring, and networking. For more information, visit austintechnologycouncil.org.

5 Ways Tech Trailblazers Can Leverage the Power of HARO to Get Their Own Publicity

The Digital Age has advanced journalism in a multitude of ways, Connecting journalists and reporters to large numbers of credible sources and expert commentators. Journalists are no longer forced to scout local communities for sources; but rather can offer opportunities to a much larger pool of experts eager to contribute their unique perspective on different topics.

This reversal has been a win-win for journalists in maximizing their time writing and for brands in leveraging their expertise for publicity. HARO (Help-A-Reporter-Out) is one online service currently leading the way in connecting those with stories to tell and those seeking to share the stories of others.

If you are a tech brand, pay close attention to HARO, recognizing their service as a no-cost opportunity with potential for high-value rewards. Here are a few tips to help you get started utilizing the power of HARO and maximize your experience:

Be selective.

After joining HARO, you will be asked to identify the industries or topics that most align with your expertise. Choose wisely. You will receive an email about three times a day allowing you to review various queries with proposed story concepts and requests for specific qualifications, and then submit interest if you believe you are the right source for that opportunity. Use the criteria strategically to align your company with journalists, outlets, and themes that will emphasize the value of what you do best. You won’t win them all, so focus on the ones that you can win big.

 

Be assertive.

Journalists are working with short deadlines and need to lock in sources quickly. Keep a close eye on your HARO digests and ensure you act fast if you believe you are the right source. Most HARO queries expire in 24-48 hours, so move quickly.

And if you don’t hear back on your submission, contact the reporter directly. You are likely one among many who submitted interest; so communicate your credentials and expert perspective directly through a quick follow up email when needed.

 

Be brief.

This may be the toughest tip, yet. It’s tempting to share your 10-year vision for the company and milestones you have checked off your entrepreneurial bucket list; but if you do, you may likely lose the chance. Journalists are looking for a quick hook that sets you apart from the others, so sharpen your wordsmith skills and choose direct, highly impactful words that are appealing and few in number.

 

Be specific.

Ensure the information you provide is the information asked for. While you benefit from the publicity of participating in a story, remember you are not the topic yet. Choose answers that are on point, succinct, and strategic, trusting that if you submitted wisely, honest answers will likely lead to you as an ideal source anyway.

 

Be relatable.

Leveraging the power of HARO is an opportunity for connection with two audiences. First, by becoming a trusted source for journalists, your story may naturally find its way to local and national media outlets with less effort. Second, HARO provides a unique opportunity for you to connect deeply with industry peers and consumers. Let the world in on a little bit of the human story behind your tech product (in a sentence or two), and connection will create opportunities product advertising and marketing alone could not. And, in an effort to be brief, a witty teaser suggesting there is more to your story may be enough to pique the interest needed.

If used wisely, HARO can open doors for tech start-ups and enterprise brands seeking to widen their audiences or even target a specific audience. Sure, you won’t get chosen every time; but when you are, you will have quite an opportunity to share your expertise to those curious ears to listen. Craft your answers wisely, and that audience may soon find their way right to your company’s door.

Don’t Miss ATC News

  • This field is for validation purposes and should be left unchanged.