Podcast
Episode 48: Building Ventures From The Ground Up
Featuring
Andrew Rising, Encore Venture LabsAshtyn Morris, VividFront
On this episode of Marketing Moves, we sat down with Andrew Rising, Managing Partner of Encore Venture Labs, a Cleveland-based venture studio. Listen as Andrew talks about his professional journey, Encore’s mission to fuel regional growth by tapping into Cleveland’s industrial roots, and the studio’s unique approach to building businesses from scratch. Andrew discusses the power of founder-led marketing, the importance of community-driven innovation, and Encore’s focus on sectors like advanced manufacturing and clean energy. This insightful conversation unpacks the keys to creating sustainable ventures through authentic, market-aligned strategies.
Prefer to read instead of listen? Here's what we discussed:
In the latest episode of Marketing Moves, host Ashtyn Morris sits down with Andrew Rising, the Managing Partner at Encore Venture Labs (EVL). Rising's journey from Cleveland to the Bay Area and back is a quintessential boomerang story that exemplifies the potential of regional growth through innovative ventures. This episode is not just a testament to his entrepreneurial spirit but also a detailed exploration of the venture studio model, which stands at the core of EVL's mission to reignite Cleveland's industrial prowess.
What Happened?
Encore Venture Labs (EVL) is a venture studio based in Cleveland, founded by Andrew Rising. Rising’s career includes stints at Google and various startups in the Bay Area, providing him with a wealth of experience in tech, finance, and venture capital. EVL, under his leadership, focuses on harnessing Cleveland's industrial roots to drive regional growth in sectors like advanced manufacturing, clean power, health tech, and the water economy.
Key Insights from the Podcast
The Concept of a Venture StudioAndrew Rising defines a venture studio as a "startup factory" that launches businesses from the ground up. Unlike traditional startup incubators or accelerators, venture studios focus on identifying problem spaces within industries and partnering with world-class entrepreneurs to develop solutions. EVL's mission is to build sustainable businesses in sectors where Cleveland has a competitive edge: advanced manufacturing, clean energy, health tech, and the water economy.Why Cleveland?Andrew's return to Cleveland was influenced by both personal and professional factors. He cites Cleveland's unique qualifications, such as its industrial heritage, geographical advantages, and macro trends like AI and electrification, as pivotal reasons for choosing this region. The goal is to tap into these strengths and build a thriving startup ecosystem that can compete globally.The EVL ModelEVL operates by partnering with entrepreneurs-in-residence who conduct extensive customer discovery and validation exercises. The studio also collaborates with research institutions and corporations to explore commercial opportunities. This rigorous approach ensures that only the most viable business ideas are pursued, reducing the risk of failure and increasing the chances of long-term success.Founder-Led MarketingOne of the key insights from the podcast is the importance of founder-led marketing. Andrew emphasizes that at the earliest stages, founders must be the face of their brand. Authenticity and direct engagement are crucial for building trust and establishing credibility. This approach is particularly effective in the B2B space, where personal networks and expertise play a significant role in gaining traction.
How EVL is Shaping the Future
Andrew's vision for EVL is to create a self-sustaining ecosystem that fosters economic development and provides opportunities for future generations. By focusing on sectors where Cleveland has a competitive advantage, EVL aims to build businesses that can thrive locally and compete globally.
Tips for Entrepreneurs
Do the Math: Understand the financials and what it takes for your business to be sustainable.
Leverage Networks: Use your personal and professional networks to validate ideas and gain traction.
Focus on Authenticity: Be the face of your brand and engage directly with your audience to build trust.
Conclusion
Encore Venture Labs is more than just a venture studio; it's a catalyst for regional growth and innovation. By leveraging Cleveland's industrial heritage and focusing on high-potential sectors, EVL is poised to make a significant impact on the local economy. Andrew Rising's approach to founder-led marketing and rigorous business validation sets a new standard for how startups can succeed in today's competitive landscape.