Why formal education is overrated in startups
PLUS: Biotech startup in Fieldays spotlight, Startup Weekends approach and how much of your company should you expect to sell each round?
Welcome to mid week!
Morena Caffeine fam, wishing you a productive day with hopefully more gentle weather than many were inflicted with yesterday.
We’re kicking off today with another cracking column from resident scribbler Serge van Dam about how formal education is overrated in startup world.
Here’s what’s in your Daily Shot of news you don’t want to miss
Serge van Dam: Why formal education is overrated in startups
Christchurch biotech startup spotlighted at Fieldays
Business is Boring: The virtual CFOs with very real results
Event: Startup Weekend Marlborough
How much of your company should be expected to sell at each round?
Got a tip, press release or just a comment? Drop us a note: hello@caffeinedaily.co - we love to hear from you.
Finn & the Caffeine team
Education and The Educated
TLDR: Formal education is overrated when it comes to changing the world, especially in startups. Actually, startups are the best education.
A Predictable Path
In 1920, H.G. Wells wrote: “Human history becomes more and more a race between education and catastrophe.” I have always loved this quote. But what is education?
Do you need that fancy piece of paper, framed lovingly by your proud parents, to launch the next world-changing idea? Or to help someone who is?
Traditional education is brilliant. Honestly. It teaches you discipline (mostly how to meet deadlines you procrastinated on), critical thinking (how to argue why your obscure thesis topic matters), and how to survive on cheap carbohydrates. It gives you frameworks, theories, and historical context. It's like learning the rules of chess. Very important.
But being in a startup? That's not chess. That's like being thrown into a cage with a lion, a unicycle, and a box of lego, and being told to "innovate." While the cage is also on fire. Maybe I exaggerate, but startup life is a contact sport.
It won’t surprise you to read that I am currently not that popular in my family. The least educated of my siblings, I have been discouraging my nieces and nephews from considering university as the best form of education. I tell them that if they want to learn lots, cheaply and fast, they should find a startup that is solving a problem they care about. So far, I am losing; both the argument and the popularity contest.
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Christchurch biotech startup spotlighted at Fieldays: Fieldays is on this week so it’s a perfect time to spotlight some of the most innovative startups in the biotech/agtech space. Like Tertiary Extracts Ōtautahi, who is using sheepskins diverted from waste to create a world-first collagen powder for the over $10b global collagen market.
They are soon seeking a raise to top up initial investment from Callaghan Innovation, Ārohia Innovation Trailblazer Grant and Agmardt. The original Development research was carried out at Lincoln Agritech. The company was up for an early-stage innovation award at this week's Fieldays event in Waikato against more than 30 others. Read more Otago Daily Times here.
Business is Boring: The virtual CFOs with very real results: We are big fans of Matt Dold and Mike Mandis of Oxygen Advisors, having featured some of their writing on Caffeine previously. Now you can enjoy their dulcet tones saying words instead of just reading them on here as they join Simon Pound for another block rocking ep of Business is Boring.
They share how they’ve helped companies scale, build best-in-class finance teams, and raise capital - guiding founders through the most challenging phases of growth. Listen to the full pod here.
Event: Startup Weekend Marlborough: It’s Startup Weekend ah, week! While the Auckland event is now sold out, still some tickets available for the Marlborough iteration so follow the link below to secure your spot. Learn how to think, work, and build like a startup in 54 thrilling hours. Techstars Startup Weekend is an exciting and immersive foray into the world of startups. Over an action-packed three days, you’ll meet the very best mentors, investors, co-founders and sponsors to show you how to get more done faster -- and, maybe even start that Business.
Startup Weekend is perfect for:
- People who have a great idea
- Those who wonder what it would take to be an entrepreneur
- People who just want to learn more about startups!
- Anyone wanting to expand their network and learn new skills
Over the weekend you'll learn what it takes to create a startup and experience entrepreneurship first-hand.Learn more and get your tickets here.
How much of your company should be expected to sell at each round? : Great resource here from Peter Walker, Head of Insights over at Carta in the U.S, breaking down in an easily digestible graphic exactly how much of your startup you can expect to be selling with each round.
We’re excited to partner with BNZ. As New Zealand's largest business bank, BNZ shares our mission to support the next wave of founders and operators. Over the coming months, we’ll be working together to share insights, tools, and stories that help you grow smarter and faster. Keep an eye out every Thursday for content powered by BNZ.
That’s it for today, thanks for reading. Want to get in touch with a news tip, bit of feedback or just to chat? Email hello@caffeinedaily.co
