Burst’s CEO and co-founder Bryant McBride participated on a venture capitalist panel at last week’s BostInno’s State of Innovation 2014 event. Flanked by two other successful entrepreneurs, Brent Grinna, CEO and founder of EverTrue, and Andy Palmer, CEO and co-founder of Tamr, the three entrepreneurs were pitted against venture capitalists Ryan Moore, Jeff Fagnan, and Lee Hower. The moderator of the “State of Innovation in Venture Capital” panel, Greg Gomer, asked probing questions about whether or not a bubble existed in the world of startup funding and led interesting discussions about the entrepreneurial world, taking into consideration where and how venture capitalists are a part of it.
In response to Gomer’s question regarding the presence of a “bubble” in startup funding, Bryant discussed how nowadays “the bar is higher.” Bryant made the comparison between startups and babies and stated, “As an entrepreneur, first and foremost, you’ve got to take care of your baby… And creativity is so much of this game.”
Bryant also provided the audience with a summary of the trends that make it tougher for current entrepreneurs:
– The exponential increase in startups that makes it more and more difficult to set apart who you are and what you’re doing from the rest
– The amount of money that you need to get underway
– The realization that “98% of us aren’t rocket ships,” and that “you’ve got to grind” in order to achieve success
Here is BostInno’s coverage of the event’s VC panel: