After many years as a successful serial entrepreneur, mentor to NY area tech startups, and occasional angel investor, I now run DreamIt Ventures New York startup accelerator program.
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If you are an aspiring entrepreneur with a big idea and a strong team, please take a look at our programs on www.dreamitventures.com. Also, in order to make the most effective use of LinkedIn, I do not Link to people that I don't know but please feel free to contact me at andrew@dreamitventures.com. At times, it may take me a few days to get back to you, but I *will* respond.
Managing Director @ One of the top 10 accelerators in the world with offices in New York, Philly, Austin, Baltimore, & Tel Aviv. Dreamit has helped launch over 200 startups (including Seatgeak, LevelUp, Meerkat, Adaptly, Elevate, etc.) who have collectively raised over $275M and who are worth in aggregate ~$1B.
• Responsible for every aspect of the New York startup accelerator program
• Recruit startups using a combination of events, online outreach & extensive personal network
• Winnow down from hundreds of applicants to ~50 to be interviewed and just 10-15 to be selected
• Match startups with industry-appropriate mentors
• Guide startups to identify their handful of key, make or break assumptions, test them quickly & inexpensively, and build scalable, fundable businesses
• Develop & refine curriculum. Recruit top speakers
• Build & maintain network of active angel & early stage investors
• Train startups to prospect for investors, pitch them, negotiate terms, and close their rounds
• Oversee all elements of Demo Day so startups can pitch to over 400 angel & seed stage VCs
• Contact & arrange dozens of one-on-one meetings with top Bay-area VCs during the two-day “Roadshow”
• Hire key staff. Source high quality interns.
• Repeatedly accomplish all of the above under budget
Other Dreamit Responsibilities
• Represent Dreamit at startup events. Judge pitch competitions. Frequent speaker at conferences in the US & abroad including Bitspiration Festival (Warsaw, Poland), Startupfest / Acceleratorfest (Montreal, Canada), etc.
• Raised money for Dreamit Fund II (backs all Dreamit-accelerated startups)
• Assist due diligence for follow on seed, A-, & B- round investments
• Identify & close potential sponsors of each accelerator cycle as well as corporate partners to back industry-specific accelerator ‘tracks’ From February 2014 to Present (1 year 11 months) Greater New York City AreaContributing Writer @ AlleyWatch is an online publication covering the New York City-based tech community. I interviewed NY area angel investors for the column called "Angel Profiles" as well as contribute other articles from time to time. From 2012 to Present (3 years) Greater New York City AreaAngel Investor @ ff Ventures (ffvc.com), RK Ventures (rkventures.com), Wizpert, SpeakLike, Hx Technologies, Avid Radiopharmaceuticals, etc. From 2005 to Present (10 years) Greater New York City AreaAdvisory Board Member @ VolunteerSpot powers community service at the most local level by providing free sign up tools to every-day heroes, volunteers active in their communities.
DOING GOOD just got easier! From June 2013 to Present (2 years 7 months) CEO @ • Recruited to launch this dead-simple, family digital memory database app + website startup from scratch.
• Identified and hired top-notch CTO
• Took grand vision, drilled down to Minimum Viable Product (MVP) and phased implementation plan, defined data architecture, and wireframed app & site flow.
• Raised angel funding, recruited advisors, and pitched at multiple events.
• Transitioned day-to-day management to idea-founder. From January 2012 to July 2012 (7 months) Startup Incubator & Investment Manager @ Home office for high net worth individual.
• Evaluated new ventures to incubate including a video game, art licensing, creating & marketing a new health beverage, building a teen-focused website, and turning around a popular but unprofitable line of high end clothing.
• Managed large portfolio of hedge, private equity, and venture capital funds. 25%+ annualized growth.
• Sourced and evaluated startups for potential angel investment. From January 2009 to December 2011 (3 years) Chief Operating Officer / Head of Product @ 3rd member of Bunk1 founding team, the first company to give parents a “one-way window” into summer camp. Highly addictive; described by one user as “crack for camp parents.” 4x as many clients as its closest competitor. 40%+ margins.
• Jack of all trades, moved seamlessly between operations, product, strategy, M&A, marketing, and business development as needed to address most significant challenges/opportunities.
• Identified or invented all significant services, line extensions, and feature enhancements.
• Took from concept to cash: minimal necessary feature set, wireframes, development & QA, A/B testing
• Slashed key costs (reduced fulfillment costs 50%+, credit card processing cost 14%, etc.) while simultaneously managing explosive (50%+ year over year) growth.
• Increased post-season photo sales 150% with creative email marketing.
• Created new revenue opportunities by locating, evaluating, and negotiating with partners (e.g., Kodak, Shutterfly).
• Restructured or closed underperforming lines of business.
• Valued potential acquisition target, structured pay for performance offers, guided negotiations. Had the discipline not to pull the trigger when the deal terms became less attractive than alternatives.
• Brought in outside banker and led process of positioning company for intended sale.
• Managed 15+ employees, including programmers & designers as well as seasonal services reps.
• Built customer service infrastructure to maximize client satisfaction on a shoestring. From May 2000 to December 2008 (8 years 8 months) Product Manager @ New unit created to fashion an online strategy and service offering that competed against VC funded upstarts.
Leadership & Strategy
• Coordinated Executive Committee for New Product Development. Led brainstorming and helped filter and select initiatives that leveraged Kaplan’s brand & physical assets to offer superior online products in a cash-efficient way.
Product & Marketing
• Created new revenue streams and fended off VC funded, web-only competitors by introducing new online courses.
• Crafted and oversaw marketing campaign blending traditional and electronic media.
• Designed affiliate marketing program for both online and classroom based courses. From September 1999 to May 2000 (9 months) Sn. Consultant (1995-1997), Associate (1998-1999) @ Consulted for a wide range of industries including automotive, pharmaceutical, clinical laboratories, oil & gas, insurance, banking, and electric utilities. Led 3-7 member teams comprised of clients and/or other consultants.
• Implemented ground-breaking intranet app prior to merger of two international oil companies to generate pro-forma financials for a merged entity, minimizing the “contaminated” employees in the event that the merger was blocked.
• Restructured accounting functions for merged downstream operations of two major U.S. oil companies.
• Centralizing back office functions to reduce costs for $24B insurance company.
• Optimized inventory policy for pharmaceutical division of a $15B life sciences company enabling it to reduce inventory levels while maintaining constant or increased service levels.
• Rationalized patient service network for $1.5B division of a clinical lab company, closing unprofitable locations.
• Redesigned capacity planning for $200M automotive stamping company, increasing utilization and making previously proposed CAPEX unnecessary.
• Identified over 200 potential $100-200M automotive stamping acquisitions and applied a series of progressively more rigorous filters to winnow down to a handful of candidates for more in depth evaluation.
• Constructed bottoms-up financial model of $8B truck and engine manufacturer, analyzing cost & income at plant and line-of-business level to come up with correct offer price for potential merger.
• Developed marketing plan for $1.2B utility, mapping out proposed alliances, organizational structure, and key regulatory issues so it could successfully compete in a soon-to-be deregulated environment.
• Conducted customer segmentation analyses for $1.5B clinical lab company so it could price more effectively.
• Pro-bono work for Government of Ireland to attract additional pharma and firms medical device manufacturers. From 1995 to 1999 (4 years)
MBA, Operations, Marketing @ The University of Chicago Booth School of Business From 1993 to 1995 BA, Economics, Political Science @ The Johns Hopkins University From 1989 to 1993 Andrew Ackerman is skilled in: Strategy, Start-ups, Product Development, Entrepreneur, Sales, Consulting, Marketing Strategy, Business Strategy, Business Development, Mergers, Venture Capital, Product Management, Analytics, Entrepreneurship, Business Planning
Websites:
http://www.getlayercake.com,
http://iblogbigdeal.wordpress.com/,
http://angel.co/andrew-ackerman-1