Innovation is a drumbeat pounded into the head of every CEO in 2017. While creating it internally is ideal, looking outside your organization is often a necessity. This means investing in a tech startup, and it isn’t restricted to the Intels or the Googles of the world.
Getting in the startup investment game does not have to be as intimidating as it sounds. Find an accelerator that serves your industry—and don’t be afraid to look outside of Silicon Valley.
Take the case of Grinnell Mutual Reinsurance Company. Grinnell Mutual is a 100-year old company headquartered in Grinnell, Iowa, a town of less than 10,000 people. In 2016, Grinnell Mutual led investment in seed-stage financing rounds for two insurance technology startups: one which analyzes truck driver performance, and one which helps insurance agents more effectively market themselves online. Grinnell Mutual plans to deploy the startup’s technology in its own business, and believes the technology has the potential for further adoption in its industry.
Both startups came out of the Global Insurance Accelerator, a startup accelerator in Des Moines, Iowa, which just welcomed a new class of startups from Belgrade, Boston, Detroit, Munich, Toronto and Tucson. The Des Moines metro area is a national insurance hub, and the accelerator was formed to benefit from the mentorship the insurance companies in the area could provide.
These specialized startup accelerators are forming across the country, usually near high concentrations of the industries they plan to serve, and in places with lower overhead costs than the Bay Area. In Iowa alone, there are five operating accelerators with two additional accelerators under development. The two new accelerators both will seek to foster tech companies that serve the agriculture industry—which makes sense in a state that is the number one producer of corn, eggs, pork and soybeans. Being located away from the deep pockets of Silicon Valley venture capital means startups in accelerators like these can be more accessible for smaller investors.
Furthermore, some states in places with nascent startup scenes are offering creative programs to encourage investment in their companies. For example, the state of Iowa offers a tax credit program for investors in Iowa businesses that meet certain requirements.
This mixture of accelerator specialization, potentially undervalued startups away from the coasts and state incentives makes seed investing more accessible for CEOs looking for innovation. Find out more at iowaeconomicdevelopment.com.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
