Dublin Tech Summit 2024 : Team Up for Success

Team diversity is crucial for startup success - diverse teams bring different perspectives and can see opportunities that homogeneous teams might miss

For early-stage startups, founders need both arrogance (to believe they can disrupt markets) and humility (knowing they can’t do everything alone)

Successful founders should focus on building relationships with VCs early, long before seeking investment - when asking for advice, you often get money

In current market conditions, traction and demonstrable progress matter more than ever - the “grow at all costs” era is over

When choosing investors, founders should evaluate:

• Fund vintage and timeline alignment
• Value-add beyond capital (networks, expertise)
• Personal rapport and cultural fit
• Terms and liquidation preferences

Key traits for early employees:

• High action bias
• Willingness to “hustle”
• Flexibility and adaptability
• Ability to work autonomously

Bootstrap as long as possible before raising capital to maintain leverage in negotiations

Don’t take investment if:

• Terms could handicap future growth
• There’s misalignment on vision
• Gut feeling suggests it’s wrong

Building strong founding teams requires balance between commercial and technical skills

Creating a culture of innovation means leading by example, being open about mistakes, and encouraging fast failure

Focus on building relationships with both investors and potential team members well before you need them