How a Seattle venture capitalist decides what to fund
May 31, 2013, 11:52 AM | Updated: 11:52 am
As a venture capitalist, you’re on the forefront of what’s coming next. It’s your job to decide which new business ideas to support.
This week on Jenni Hogan’s Next Big Thing podcast, she speaks to Michelle Jacobson Goldberg, a Seattle area venture capitalist previously named one of the top 100 Most Influential Women in Technology. She lets Jenni in on a few big ideas coming down the pipeline.
Goldberg hears tons of pitches. Deciding which ones to support can be difficult, but she says a big factor in her decision is just how much she can support the enterprise.
“I don’t like to invest in things where I can’t add value and I don’t really know about it. There are a lot of things I see that I think are just fabulous ideas, and could have great markets attached to them. If I can’t help, it doesn’t make sense for me.”
Goldberg is mostly interested in digital media, the internet, digital retail, women on the web, and how we can integrate technology into our real lives.
“The real world is not going away, so how do we use technology to enable the real world, whether it’s with a phone and an app, or a website, or just some sort of technology,” says Goldberg. “Those are things that I’m passionate about.”
A new shopping startup based in Seattle is one of the latest projects really attracting her attention.
“I really love the things that integrate what we do every day and using technology and mobile and apps and the internet to enable those actions to just be more interesting or efficient or better,” says Goldberg. “One of the companies that I’m working with that I love in this space is called Hointer.”
At a Hointer store – there’s currently one open in Wallingford – shoppers download an app upon entry. They then scan a tag on items they’re interested in, indicate their size, and the items are stocked in a dressing room assigned to them. Shoppers can try on items, send the rejects down a chute in the dressing room, and the items are removed from the “cart” on their phone. Any items the shopper wishes to keep can be purchased with their phone.
Goldberg says she’s fascinated by the work they’re doing to enhance the shopping experience through technology, and says Hointer CEO, Nadia Shouraboura, who comes from Amazon, is a natural entrepreneur and Goldberg wanted to work with her.
Of course, Goldberg won’t jump at every idea, but says she still tries to try to get them moving with her connections.
“You want people to keep going and follow their passions. One of the things that I love and I can do, is use my network,” says Goldberg.
Listen to Jenni’s full interview with Michelle Jacobson Goldberg for more on her other projects. Subscribe to Jenni Hogan’s Next Big Thing podcast to hear from more brilliant brains every Tuesday.