VWB #16: Principles of a Well-Managed Portfolio (Pt. 2): How To Join a Startup

Happy Wednesday! 🍉

This week at VWB, we are excited to share the second installment of the two-part series on VC platform operations and portfolio support for startups. In the previous VWB edition, Paula shared the principles of a well-managed portfolio, outlining the main areas of support that top-tier VC firms provide their portfolio founders beyond investment. In our latest installment, we shift the spotlight from VC firms to individuals eager to roll up their sleeves and contribute directly to startup success. Whether you're an aspiring entrepreneur, an industry enthusiast, or a curious outsider, there's a place for you in the vibrant startup ecosystem.

In this week’s edition, we highlight actionable steps for those looking to make a difference in the startup world. From attending community events to offering your expertise and energy, including forging meaningful connections with founders and investors alike, there's a multitude of ways to get involved and add value to early-stage startups from day one. To illustrate this, we showcase the journey of Daniely Miranda, a sustainable finance graduate student embarking on a summer internship with NyxCarbon. Join us as we explore how you too can jumpstart your journey in the startup space.

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Going the Startup Route 🦄

During her session with students at Brown University, Paula offered insights on best practices employed by top-tier VC firms in supporting their portfolio companies. Yet, amidst the class discussion, another intriguing topic emerged: many of the students expressed an interest in working directly with startup founders. While being a VC is an attractive career path for some, what about those who prefer to roll up their sleeves and dive directly into the startup world?

This was the case of Daniely Miranda, a graduate student from Columbia University 🍉 pursuing her M.S. in Sustainability Management. With a background in corporate finance and a passion for environmental sustainability, Daniely was eager to find opportunities to collaborate with startups operating at the intersection between fintech and climate action. This month, Daniely will begin a summer internship with NyxCarbon, a platform that streamlines project finance lending to companies with sustainability-linked business models, like carbon removal and ecosystem restoration. 

Using Daniely’s case as an example, here are some strategies for students and sector enthusiasts—whether insiders or outsiders to the tech/VC scene—to discover startups that match their skills and passions, and begin adding value to their entrepreneurial journey. 

Never underestimate the value of an outsider perspective… 🧐

The first and most important tip to share is: Be confident! Successful startups understand the need to embrace diverse experiences. Indeed, as a startup grows, it constantly faces new challenges and opportunities, where external support and innovative perspectives become crucial to succeed. Whether it’s serving as a sounding board for new ideas, looking at ongoing challenges with new eyes, or proposing a completely different market strategy based on your personal experience, having an outsider perspective can help startups focus on promising concepts and identify blindspots before they become an issue. 

Daniely tapped into her background in corporate finance and her studies in sustainability management to connect with Brittany Salas, the founder of NyxCarbon, and express her eagerness for a summer internship. By highlighting her passion for emerging markets and her expertise in financial tools for environmental improvement, Daniely secured the internship. In this role, she will gain access into the inner workings of NyxCarbon and collaborate on various product research projects, enriching her learning experience.

…nor the amount of work to be done!🤹‍♀️

The second (even more important) tip to share is: Help founders figure it out! Founders really appreciate enthusiastic, eager, and down-to-earth students who aren't afraid to jump in and help out. At the early-stage, founders juggle multiple aspects of their business, from accounting and customer relations to marketing and competitor analysis, among others. The bright side? These are all areas where you can pitch in! If students have the opportunity and interest, they should feel empowered to reach out to early-stage founders and offer their support as volunteers or interns. It's an incredible chance to learn quickly and build relationships with founders, while taking things off their plate!

In addition to her experience in corporate finance and sustainability, Daniely has an unstoppable can-do attitude, which she made sure to highlight in her conversations with Brittany. In the next few months, Daniely will not only produce research on product innovation for NyxCarbon–she will likely also be attending climate conferences in NYC, sourcing potential clients, coordinating communications and marketing, and building connections between NyxCarbon and her personal networks!

Expand your network through events and fellowships 🤝

Whether you're a student or already working, there are numerous startup and tech community events both online and offline across the US and beyond. These events are a great opportunity to connect with founders, learn about their projects, and build a network of peer operators. You’ll also bump into investors and VC scouts, giving you insight into their funds and investment strategies, and put in action your knowledge at the intersection between startups and VCs. Platforms like LvlUp Ventures offer a supportive community of VC scouts, where you can source promising companies and even earn referral commissions.

For students and early-career individuals, joining startup programs and fellowships through established funds can be a great move. Programs like Kleiner Perkins' KP Fellows and True Ventures' TEC Fellows place promising talent in their parent venture funds' portfolio companies. These fellowships are a chance to gain practical experience and learn fast in the world of venture-backed startups.

For Daniely, studying her Masters in New York has meant having access to a lively group of entrepreneurs and climate tech enthusiasts. Universities often have centers for entrepreneurship that help students connect with startups in their areas of interest. Similarly, the New York City scene is rich with opportunities. After completing an accelerator program in NYC, NyxCarbon has remained an active part of the NY startup community, allowing Daniely to find this perfect fit for her interests. Indeed, building up your community can open doors to exciting opportunities!

Build Your Brand, and Keep Learning! 👩‍🎓

In addition to having an open mind, a can-do attitude, an outsider perspective, and lots of energy, building your personal brand and continuously learning are essential if you want to join a startup and make a meaningful contribution to their work. Your brand is what sets you apart and showcases your unique skills and expertise. By developing a strong brand presence, you not only attract the attention of startups but also communicate credibility and reliability. 

Moreover, the startup landscape is constantly evolving, so staying updated with the latest trends, technologies, and industry developments is crucial. Continuous learning ensures that you bring fresh ideas, insights, and solutions to the table, helping startups stay competitive and innovative. Whether you're engaging with a wider audience on LinkedIn, documenting your journey through blogging, or sharing knowledge privately with colleagues, the key is to digest information and apply it to the benefit of the startup when needed. By actively sharing your experiences and learnings, you not only establish yourself as a thought leader but also contribute valuable insights that can drive the startup's success.

That’s it for this week folks, thanks for reading and we’ll see you soon for another edition of VWB! If you’re a student, hope you’re staying safe 🍉

Weird days,

Paula