We were recently featured in a Crunchbase article titled Bootstrapping Business: Why More Startups Are Rejecting VC Gold

ArdvarkCompare CEO Jonathan Breeze writes about 3 crucial reasons startups like Algo.ai either don’t accept or don’t pursue VC funding. 

1. It can be a waste of time

Pursuing funding can be a full-time job and many smart CEOs choose to keep their attention on running the business instead of spending money fundraising. 

2. There are pressures of hypergrowth

Accepting VC money usually means expectations of fast growth at any cost, and many startup founders are starting to eschew this option in favor of retaining control over their companies vision and growth trajectory.

Algo.ai Co-Founder Nikki is quoted as an example of companies that have turned down funding for this very reason: “We wanted to maintain control of our company, our vision, and culture,” said Nikki Hallgrimsdottir, co-founder of Algo.ai. “We were also lucky to have paying customers right from the start who believed in us.”

3. The need for follow-on funding

Securing more funding rounds can become a vicious cycle, and if the hyper growth that investors expect isn’t realized companies can face down-rounds, or simply die because they can’t secure a new funding round. This put’s your companies’ future in the hands of potential future investors rather than existing stakeholders such as the founders, leadership, customers, and employees. 

 

Clearly, there are different reasons founders bootstrap, and the reality is there is no one-size fits all formula for founding and funding a successful startup. We at Algo.ai are proud of our bootstrapped journey and the customer-centric reasons we have chosen to say no to outside investors up to this point.

You can learn more about how we came to be in a position to bootstrap successfully in the enterprise space in a recent interview Amjad did with Sramana Mitra of One Million by One Million

 

CEO Blog Nation recently reached out to Amjad to share his thoughts on taking a break and recharging as a CEO.

In his 10+ years as an Entrepreneur and CEO he has learned how to balance the insane schedules and demanding travel with taking care of himself and his health. His secret is to give himself time for exercise and meditation by taking long walks and staying off the grid while doing so.

Read the more tips on Entrepreneur self-care over at CEO Blog Nation

I’ll add a few tips I have learned from Amjad over the years working together:

Eat to Support your Health

I often see Amjad snack on mandarin oranges, especially while traveling. Making sure to get your vitamins (especially C and D) supports your immune system and keeps you from getting sick while traveling. We also stock the office with healthy snacks like Almonds, and he regularly brings fresh fruit to the office to share with the team.

Take Small Breaks to Recharge

Take a few minutes throughout your day to breathe, relax, and drink your tea (or your hot beverage of choice). Even though most of his days are packed with meetings and demands, he makes sure to leave slots of 15 minutes open in his schedule to take a breather and drink some tea.

Family Time is Important

When you’re with your family turn off the distractions. Our work culture, and especially start-up work can be 24/7/365 and that commitment from our team one of the things that has made Algo.ai so successful. However, as a leader, Amjad makes it very clear that he understands the importance of personal and family time. After all, if you can’t enjoy the fruits of your successful business with your friends and family what is the point.

Concern has surrounded Amazon’s Rekognition technology, with fears that it could be used in an authoritarian and inaccurate manner by the governments and police. However, new research from The Center for Data Innovation, a nonprofit and nonpartisan research institute, indicates that Americans are opening up to the use of facial recognition technology, but only if it’s accurate. 

The Sociable’s Sam Brake Guia spoke to Taleb Alashkar, an AI and facial recognition wizard, and CTO of Algoface.ai, who is currently working on a platform that uses AI to give makeup recommendations based on your skin tone, eyes and facial shape. 

Read the full interview here

Content will always be king.

But in the home entertainment business, as in the broader entertainment industry, data is increasingly regarded as the crown, throne and scepter.

Data analytics, quite simply, is predicting future consumer behavior based on as much information about your target audience as you can get. Data comes into play when deciding windows, store allocations, distribution platforms, marketing campaigns, even greenlighting movies.

Read the full article including a perspective from our own John Daly over at Media Play News

May 2, 2018, RE•WORK

At the AI in Industrial Automation Summit this June 26 – 27, team Algo will be joining RE•WORK to exhibit and chat to attendees about their current work. In advance of the summit, Ellie Lucy, Global Summit Creator at RE•WORK spoke with Nikki to hear about her current work and their use of AI and deep learning.

Read the full interview over at the ReWork Blog

March, 2018, Insights Success Magazine

The average knowledge surrounding Artificial Intelligence revolves around a rumored headline of it surpassing human brain with the help of a computer generated program, causing a cloud of catastrophe over the idea. But the reality is much more complex than the above stated rumor. Organizations from varied sectors realize the potential of AI and Machine Learning and are racing against each other to build the most efficient AI enabled program, capable of reducing human efforts by solving the maximum tasks possible. Built on the concept of people and machines working together, Algomus is one company that stands out to create an environment where humans and machines can work and learn from one another to make specific tasks easier.

Source : The 10 Most Promising BI and Analytics Solution Providers 2018

October 4, 2017, Just Entrepreneurs

Want to learn more about Nikki?

This interview covers her background before Algomus, her move into the AI and technology sector, her advice for young female entrepreneurs, and much more.

Read the Full Article Here