Last week I received this email from my friend Rana El Kaliouby – the Co-Founder/CEO at Affectiva  :

“Dear Andy,

I just hosted a dinner for female founders, CEOs and investors, which was awesome!

Half way through our conversation, we noticed that many of us had at least one thing in common: YOU!

You have supported, championed, invested in, advised, and connected many of us.

The world needs many more men like you.

Thank you. See pic of your mentees and fans attached 🙂


When Amy and I started Koa – we were committed to investing in female founders – we are so honored to have the opportunity to work with so many great women.

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Christopher Ahlberg : Old Man

Over the past 30 years, I’ve had a chance to work with some amazing entrepreneurs – many of whom have become great friends.  One of the best I’ve ever known (entrepreneur and friend) is Christopher Ahlberg. Christopher’s 50th birthday today is a great opportunity for me to thank him for his partnership, friendship and most of all his sense of humor.  Not only is Christopher incredibly smart, fiercely competitive, deliberately balanced, a loyal patriot as well as a great husband and father  – but in his heart, Christopher is one of the best human beings I’ve ever known.  He’s also an exceptionally private person which is why it gives me great pleasure to recognize his 50th birthday in such a public venue 😉   Happy birthday old man – looking forward to many more.


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Taming Procurement Data Chaos: A Case Study From Societe Generale

Spend visibility is a foundational need for procurement organizations, but many enterprises struggle to gain this visibility and keep it up-to-date. The notoriously messy nature of spend data and inability of legacy, rules-based technologies to keep up with the pace of business has made solving this problem a thorn in the side of many Chief Procurement Officers.

Societe Generale, a leading European financial services institution, recognized the need to take a fresh approach to solving this problem in late 2017 when they selected Tamr as a digital transformation partner and as their solution provider for spend analytics. Check out the video case study below.

The bank’s Group Sourcing Division manages the “source-to-contract” process for 250 buyers in 22 countries who collectively engage more than 100,000 suppliers and oversee €6.5 billion of spend. This complexity has made legacy solutions a non-starter. Previous attempts to apply a rules-based system were able to integrate just 15 of 100+ ERP systems and provided only 40% spend visibility.

In this 3-minute video, Jean-Baptiste Anne (Societe Generale’s Head of Sourcing Methods & Information Systems), describes why the Division chose Tamr and some of their successes so far, such as deploying Tamr’s Spend Analytics Solution in under 2 months and being able to reduce manual support effort by over 70%.

The success of the deployment has given the Division a foundation of trusted, up-to-date data that is being used to fuel the next steps in their digital transformation. As Jean-Baptiste describes in the video, Tamr’s unique approach to data integration has allowed Societe Generale to “rapidly scale our analytic operations, reduce costs, and simplify our IT environment.”

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Most entrepreneurs (including myself) are not in their ’20s….

A post by Meredith Somers @ MIT last week here caused me to think about my own entrepreneurial journey.  I had entrepreneurial tendencies early in my career – always trying to emulate my grandfather (reference here) – however I didn’t “co-found” a significant company myself until I was in my 30’s.

I love to back smart young high risk/return folks straight out of college (or even younger).  Over the past 10 years @ Koa Labs and Founder Collective – I’ve been involved in backing many young entrepreneurs.  At Koa our investment criteria included “first time entrepreneurs with technical/scientific background” – which skewed the age of founders in the Koa portfolio toward the younger side.

However statistics matter and as MIT Sloan professor Pierre Azoulay and PhD student Daniel Kim point out in their research – the average age of entrepreneurs who’ve started companies and gone on to hire at least one employee is 42 years old.

In my opinion – the key takeaway of this research is that there is a distribution of entrepreneurial talent in the world.  There are “extreme entrepreneurs” insert cliche reference here to Musk, Gates, Jobs – but these individuals are all many standard deviations out from the center of the entrepreneurial distribution.  Most of us fall somewhere closer to the center and and it can be dangerous to interpret the behavior of the folks that are extreme entrepreneurs as a model for what will work for the rest of us.  Key message – figure out what works for you rather than trying to emulate the outliers.

As I reflected on what worked for me on my journey, there was one thing that stood out as a key – active mentors.  After grad school I did at least 3 significant gigs which I have now come to think of as “entrepreneurial apprenticeships“.  In each case I had fantastic mentors that taught me what I needed to know in order to be my own type of entrepreneur.  First working with Joe Liemandt, Christy Jones and Phil London @ Trilogy & pcOrder.com, then Frank Moss @ Bowstreet and Steve Holtzman @ Infinity Pharmaceuticals.  These mentors and the lessons that I learned while working with them and the people they attracted molded my entrepreneurial instincts over more than a decade after grad school.   The list of lessons was long and hard won over 10+ years including :

  • The ins and outs of bootstrapping and venture financing
  • Challenges of setting & managing expectations with investors, employees, customers, spouse & kids
  • The emotional roller coaster of believing that things can be better – technology, people, business – and then fighting against all odds to make it so
  • People in startups need to be inspired emotionally AND it is essential to treat their emotional commitment and personal sacrifice with respect/honor
  • The list goes on…

When I partnered with Mike Stonebraker & his academic cohort to co-found Vertica back in 2004 – I felt that I had an “unfair competitive advantage” not only because of amazing the technical ideas/inspiration from Mike & team – but I had learned so many hard lessons working on 3+ startups and was prepared to put those lessons to work on a project I co-founded.

Perhaps the takeaway is that for many of us who have entrepreneurial tendancies – our entrepreneurial journey is likely different from that of the extreme entrepreneurs –  Jobs, Musk, Gates – and in my case was primarily driven not by youthful energy but more by  many “entrepreneurial apprenticeships” which were not only rewarding professionally – but also provided some of the best friendships in my life.

Posted in Analytics, Big Data, Entrepreneurship, Financing, Founders, Health Care, Information Technology, Innovation, Start-Ups, Uncategorized | Leave a comment

Patent Troll Reform Vetoed by Governor Baker – onto next legislative session…

As many of you know by now, Governor Baker vetoed the legislation – bill S.2622 – that would have ensured state protection in MA against patent trolls.  The bill had passed both the House and the Senate.

While I am very disappointed by the Governor’s decision, and believe it was unfairly influenced by the lobbying of large companies that found the legislation to be mildly inconvenient, we are not done fighting.

Please see this Letter to the Editor today in The Boston Globe by Eric Lesser, Eric Paley & Shirley Paley.  Their leadership and persistence on this issue is truly remarkable.

It is my understanding that Senator Lesser intends to move forward with this Bill again during the next legislative session, and many believe there are reasonable parameters in which the Governor would support this reform.

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Another step closer to patent troll reform

Thanks to all who have supported S.2622.
Late last night the Mass Legislature passed the anti-troll legislation as part of the Economic Development Bill!
Thanks to Senator Eric Lesser for his amazing work shepherding this bill through the legislative process.
This is a very significant milestone.
If Governor Baker doesn’t veto – this could happen.
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Patent Troll Reform – next steps after Senate victory this past week

Thanks to everyone who provided their support last week regarding the Patent Troll reform legislation that is working its way through Beacon Hill. We have good news to report!
The bill S.2622 passed in the Senate, and now the focus is on the House of Representatives.
emails and phone calls will be effective in helping to reinforce the importance of this bill for the long term economic health of our state and our commercial ecosystem.
If you are not sure who your representative is?
Here is a tool to help determine who to contact based on your street address: https://malegislature.gov/Search/FindMyLegislator
You can email or call both the state rep where you live and where your company is located!
In addition to your own, please also email the following three reps, as they have the most influence :
Speaker of the House, Bob Deleo – Robert.DeLeo@mahouse.gov
Chair, House Ways and Means, Jeffrey Sanchez – Jeffrey.sanchez@mahouse.gov
House Chair, Joint Committee on Economic Development and Emerging Technologies – Joseph.Wagner@mahouse.gov
The email that I sent is below – feel free to use as a reference:
Hello Representative __________,
I have spent my career in the high-tech industry and seen first-hand how the sector has generated hundreds of thousands of well-paying jobs and billions in revenue that has enriched our state. I believe the sector is at risk from “Patent Trolls” who use fear, obfuscation, and the threat of remote trials to squeeze money from emerging startups and needlessly distract the leading companies that power our economy.
As a constituent of yours, I urge you to use your power in support of legislation that would curb these bad actors and preserve our ability to serve as an innovation capital of the world.  Please make sure this important legislation that is included in the Senate version of the Economic Development Bill also is supported by the House.
Andy Palmer
Co-Founder and CEO, Tamr
Co-Founder, Koa Labs
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