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Need Help With A Startup? Partnerup.com Wants To Connect You
By Rob | April 26, 2007
In the past four years, I’ve been early on three ideas. All three times I was ahead of the curve, with a solid idea that I floated to investors, potential partners, and anyone who would listen. All three times I failed, and watched someone else come along within a year and do the same thing. All three times I had the same problem - I couldn’t find the resources to keep the momentum going. I couldn’t find the partners that I needed, financial or otherwise, to make it to the next level.
Steve Nielsen has a similar story. He tried to get a new RFID company off the ground, but wasn’t able to find an electrical engineer to partner with. After realizing this is a common problem for entrepreneurs, he decided to solve it by creating Partnerup.
The goal of Partnerup is to help entrepreneurs find business partners, board members, executives, advisers, and professionals who have the skills that they need. On the flip side, it is a place where people can go to get involved in a startup if they have skills to offer, but no particular idea of their own. Partnerup is based in Minnesota, and I had the chance to ask Steve what it’s like to start a company there.
One of the pros is that thanks to the two big entrepreneurial schools here (Carlson School and Schulze School), we’re really starting to see students who are graduating with a fantastic balance of technology/entrepreneurial skills.Another big pro of doing a startup in Minnesota is the weather. It’s so darn cold all winter that there’s nothing better for our people to do than work more hours!
The con that initially comes to mind is that we’re competing with a lot of big companies (i.e. 3M, General Mills, Best Buy, etc.) and a lot of cutting edge medical companies (St. Jude Medical, Medtronic, Boston Scientific/Guidant) for a limited pool of employees. So, it’s been a challenge finding great people.
A talent crunch in Minnesota? Who knew?
Finding the right partners for a new company is a challenging task. In the early days, things like work style, compensation flexibility and short-term goals matter much more than they do at a well established company. Partnerup can’t tell you if someone is a perfect match for your startup, but it can help you find those people who will at least consider a position, and that’s a huge step in the right direction.
Outside the Valley Score
Location: Minnesota = 3
Founders: Prior entrepreneurial experience = 1
Technology: Existing technologies with some proprietary search functionality = 1.5
Funding: Self-funded = 3
Total Score – 8.5 Partnerup is definitely outside the valley, which is evident by the fact that the company doesn’t use any mis-spelled words in the the name, like PartnrUp or something similar. (I think that’s a requirement for registering an LLC in California)
Topics: Startups, East Coast |
April 26th, 2007 at 2:15 pm
Great concept. With the right momentum this could be an excellent resource for non-valley entrepreneurs.
Speaking from experience after living in Canada for most of my life, you can definitely be more productive in the winter. But of course there’s always the lure of cold beer and outdoor hockey to contend with…
Good catch Rob, I’ll be keeping my eye on this one. I hope the idea takes off.
April 27th, 2007 at 3:34 am
Really interesting web site. I agree with Adam: If this gets rolling and builds a decent sized membership base, this will be an excellent resource. Since it’s free, I would imagine that it won’t be much of a sell to get people on it.
I have a few ideas for new companies that I would need partners for and I’m planning to put them on the site.
May 4th, 2007 at 1:01 pm
Hey, Rob - being in Minneapolis, and having worked with tech startups as an advisor and marketing consultant for 25+ years now, I will definitely be watching Steve Nielsen’s new PartnerUp site. Great concept, and always a big need — more ways for entrepreneurs to find the talent they need, those who will share their vision. I know this well, having spent a large amount of my time over the years putting people together. I’ll have to introduce myself to Steve and learn more!
Thanks for telling me about something in my own backyard (they office about a mile from me), all the way from your perch in Louisville…
cheers,
Graeme