Carmel

The presentation about Carmel ventures can be found as a Google Doc here.
The company briefing can be found as a Google Doc here.

Meeting recap:

At Carmel Ventures, we first heard from Avichai Cohen, COO of LiveU, an Israeli start-up supported by Carmel that provides portable broadcasting, online, and defense technology through cellular-based transmission. With its signature backpack of hardware, LiveU is revolutionizing the way events are covered. While the technology is not meant to be a replacement to traditional news vans and major broadcasting equipment, LiveU does provide a flexible value-add that all major US broadcasting companies have contracted.

Avi describes LiveU as a “technology-enabled service” that emphasizes exceptional customer service and the importance of long-term customer retention. Technical experts are on hand 24/7 to troubleshoot and offer advice to users. When LiveU signed NBC as an early client, it supported a free trial period in order to earn network loyalty. The result? NBC now operates several LiveU units and speaks enthusiastically about the service on-air, providing free advertising for LiveU.

Avi stressed that building a team is the #1 priority and enables LiveU to be both “ambitious and patient” in building a company that is customer-centric. When it came to pitching to VC firms, Avi and his partners “worked his way up” to the desired VC, Carmel, less-preferable firms as stepping stones to make the most of the “one shot” pitch. Avi is now based in Paramus, NJ. His email is avichai@liveu.tv. And phone: 201-403-7273.

Shlomo Dovrat, General Partner and Co-founder of Carmel Ventures, then took the stage. He described his own story of starting his own company at 23 years old, post army service. When he was 40 years old, he moved into the world of VC, a move he would never have predicted at the start of his career. He now thinks of his role as building category leaders and breaking glass ceilings in the Israeli start-up world.

When it comes to entrepreneurship, he shared his advice for the “what, how, and why” of start-ups. There are two types of start-ups: “brave new world,” a radical innovation, and “better mousetrap,” a significant, game-changing improvement on existing product or service. In order to be successful, entrepreneurs must have a vision of what they want to build and be able to specifically articulate that end goal in a visual way. Despite the specificity of the outcome, the path is “not just one thing,” but a culture of excellence.

Hotspots, per Shlomo: video replacing everything, voice recognition software explosion, biology into processors and computers, social and political integration of technology.

His 3 P’s of strong entrepreneurship: Passion, People, and Professionalism Perfectionism.

When it comes to people operations, Shlomo recommends hiring people better than you to specialize and engage in the common goal. The entire team must know and love the passion of the firm. The leader then must create the DNA of “relentless pursuit of excellence”. Preparation counts. So do values: respect, transparency, individualism, and intense fun are all paramount. A firm must invest in cultivating and refining these values, which is why debriefing and reflecting on both victories and failures is non-negotiable.

Shlomo’s email: sdovrat@carmelventures.com