Connect with us

Business

Chad Stender Of SeventySix Capital Joins Camden Tech Meet-Up

Published

on

chad stender

In one of many meet ups located in Camden, the Waterfront Lab invites Chad Stender, Director of Operations at SeventySix Capital, to Camden’s June Tech Meet up. At the meetup, Jie Kuang, Moderator and Editor-In-Chief of Owner’s Magazine, sits down with Stender to discuss some sensitive topics in intent for startups to learn. In speaking about his career, the power of being nice, the future of startups, and what it takes for VCs to invest, there are many things to take away from this event.

As an entrepreneur, Venture capitalist, and Director of Operations, Stender’s career spans from working at Disney to the SeventySix Capital. After graduating college, Chad was gifted an internship job at Disney, in which he then made the decision to move to Orlando, Florida. Although his check was only $10 an hour, Stender’s advanced internship taught him many things in his stay with food and beverages. From working with the best customer service program globally, he learned many values that he still withholds today, due to Disney. This quickly ended though, as he later understood his drive for working with sports. Once Stender had quit his internship with Disney to go back to school in Philly for a graduate degree, he quickly landed another internship opportunity with the 76ers. In many more openings working with Comcast and the Flyers, it all adds up to his plan that will eventually lead him to his true vocation. Although nothing he did was linear, he had a world map and the opportunity to meet with many people that gave him his career today. In meeting unique and gifted entrepreneurs, Stender would then learn his calling path to working with entrepreneurs and innovations in the startup world. Others recognized his skills and wisdom, which led to SeventySix Capital, calling for a perfect position for him there.

chad stender

Photo courtesy of Joanna Lam

In developing his own personal quota of the power of being nice, Stender ultimately aims to invest in being smart and nice. In being a smart entrepreneur, it takes executing your vision respectfully, knowing when to push and when to pull, and simply, understand who to bring on the team. To be nice on the other hand, it’s far more difficult to be sincere and genuinely kind. Reason being, some people are simply just not considerate in response. If that is the case, it still shouldn’t be the reason to be difficult. Take into precaution, the founder’s personal life, spouse, kids, etc. The best and smart thing to do is to be considerate, help them through their personal conflict so they can go back to their work. Normalize the personal aspect of business and keep the people in mind. It’s the small gestures that relieve the outcome. So take Stender’s saying, “be nice always, life is too short to work with the wrong kind of people”.

Chad then jumps to another topic, when asked about the startup community. He related it to the iPhone. “It’s 10 years old now”, he says, “and it is easily identified as the most powerful device in this century.” To start a business today, it’s all in your pocket. It’s that simple. The difference between now and then is the growth. Startup communities are rapidly growing now more than ever, simply because it’s that easy to get involved and make a difference. To start a revolution, it’s all in your pockets, meaning, it’s all in arms reach. In additional talks of Camden’s startup community, Chad Stender is thoroughly impressed with Camden’s people, along with their drive and passion there. As the ecosystem is striving to achieve, the attempt to silence all of the negative criticism is making an effect through the celebration of all of Camden’s wins. By changing the mindset and stigma to Camden’s name, more entrepreneurs are able to expand their innovative ideas into Camden.

The most vital yet terrifying task for startups rely on the investors. Finding an investment is a full time concentration. When you have a lead investor trying to get money into your company, that is the best scenario. If on the other hand, you feel forced to take a capital, only to keep your company going, that’s not going to be a good relationship. If you take an investment, but you don’t believe in this team or leaders, it’s a bad start. If you know in your gut, don’t take the investment. Trust your gut in all business instances.

chad stender

Photo courtesy of Joanna Lam

In another scenario, some investors just might not be interested. Chad Stender calls it as, “every no is just a not yet, you have to be resilient.” On the investor’s side, reasons for not taking an investment is not because of the team or the idea. It is actually because it’s not the investor’s focus. To investors, they view it as enabling them from adding value that can be deemed useful since it’s an area they’re not acknowledged in. To get over that, you have to ask the real questions. The two best things in this situation are the responses, yes and no. With the worse possible replies of ‘maybe’ and ‘I don’t know’. Maybe is just a comfort zone, it’s a reassurance that things could work out. With a no, you can simply move on, it’s not the right fit. Get out of the maybe, hopefully you’ll get the yes. The biggest thing to investors are the people and team behind the idea. So it is crucial to know your investor. For Chad Stender, he really enjoys being hands on. He strives on really getting to know the founders, team, and the advisors. So if a company doesn’t agree with that, it won’t work out. There must be an understanding on both sides. The shiniest product doesn’t always win, it’s the people that makes the company go.

The worst situation to be in is getting out of an investment. Getting out of an investment happens and it’s not pretty. You might think you want to work with this company for years but one day, you just wake up with an even better idea. Its business and you have to deal with it when things don’t work out the way you want it to. Chad Stender has been through it, and so does a lot of investors, it happens. Business keeps going.

Business

How The Technology of 23andMe Benefits You

Published

on

23andMe

Tracing down our ancestry is a difficult but possible task thanks to 23andMe. Ancestry research is an obsessive hobby that is provoked by curiosity. You can discover historical events, trace medical conditions, find birth parents, and understand yourself through DNA testing. With 23andMe, people can now discover the truth about their genes. Through extensive DNA analysis, 23andMe can interpret your biological roots from a simple saliva sample.

More than 500,000 consumers have bought a test from 23andMe. For it to work, consumers have to spit into a tube and ship it to the company. To retrieve your results, you must first create an account on the 23andMe website and log in within six-to-eight weeks to view your data.

The massive biotech company employs scientific researchers to study customer data for research on inherited disorders. The team is filled with quality workers and a pool of professional partners in fields like pharmaceutical and biotechnology. 23andMe hopes to provide consumers who wanted to know about their DNA information on any potential genetic disorders or diseases. For the first time ever, the genetics company offers direct to consumer genetic tests on breast cancer. Anyone who is curious about their future health risk, 23andMe is the ideal service to get answers from.

In tracing back your genetic roots to compare you to a total of 150 regions, people can now discover their DNA background. 23andMe have united many disconnected families from their service. The option to publicize your results to rekindle with other family members have proved to serve a great purpose to users.

23andMe

Image From 23andme.com

The precision of 23andMe is impressive. The results are not vague responses. The scores show percentages and specific breakdowns on your ancestry. With a total of 150 regions, 23andMe ensures an informative report to fulfill your curiosity. The ancestry discovery has given people an identity and the chance to reconnect with their culture. Customers have the opportunity to share their results for research purposes, so most have consented while others chose to remain anonymous.

The health and wellness report will analyze your genetic risk for up to 10 diseases. This information is intended for people who are concern about their future health. The data comments on your potential variants to lactose intolerance, saturated fat and weight, alcohol flush reaction, genetic weight, deep sleep, muscle composition, sleep movement and more.

The more serious analysis are the findings of potential late-onset Alzheimer’s disease, Parkinson’s disease, AAT Deficiency (a lung and liver disease), Celiac Disease, Hereditary Hemochromatosis (iron-related) and Hereditary Thrombophilia (blood clots), and others. Users do not have to oblige and see the results, you can choose to keep the answer hidden.

Although the company have experienced issues with the FDA in the past, since last April, the FDA agreed to allow 23andMe to sell direct-to-consumer genetic predisposition tests for 10 diseases, including Parkinson’s, Alzheimer’s and Celiac disease. This innovative business idea is benefiting many consumers. 23andMe’s technology have reconnected families, provide useful knowledge, and give health warnings.

23andMe

Image From 23andme.com

The innovative biotech company proves just how rapidly technology is advancing. DNA testing will only improve from this point on. 23andMe have benefited many customers with their technology. As they continue to grow and improve, a 23andMe spokesperson shares how the technology of 23andMe benefits you:

How does 23andMe work?

“You can read about the process on our website here. You choose from our two products – the  Ancestry Service and Health + Ancestry Service. You can either buy the kits from one of our retailers (Target, Walgreens, CVS, Amazon, etc.) or from our website. Your kit will take 3-5 days to arrive, you follow the kit instructions to spit in the tube provided, register your kit with the 14-digit barcode associated with your kit, and mail the tube back in the prepaid package.

In approximately 6-8 weeks, we’ll send you an email letting you know your reports are ready in your online account!”

What inspired 23andMe?

23andme

Image From 23andme.com

“Our company’s founders believe that everyone has the right to access their personal genetic information. We believe in the power of genetics to transform health and empower people, and that your genetic information is the most valuable thing you can contribute to help accelerate research”.

How will people benefit from 23andMe?

“23andMe customers will benefit in three ways:

  • Access Revolutionary Science
    • The only crowdsourced data set for genotypic and phenotypic big data analysis.
    • Health and ancestry reports driven by top-tier scientific rigor
    • Data-driven drug development by accomplished scientists
  • Discover Evolving Insights
    • Explore your unique health, ancestry, wellness and personal trait data
    • Engage with family members or connect with new ones
    • Learn more as new reports are released
  • Improve Healthcare
    • Easily participate in disease-fighting research
    • Drug development based on human genetics
    • Stay informed about the impact you’re making”

Are the analysts completely accurate?

23andme

Image From 23andme.com

“We proved through the FDA review process our ability to accurately call, or find, these variants with 99.9% accuracy when compared to Sanger sequencing results, the gold standard for accuracy.

23andMe uses an Illumina genotyping chip, widely used in academic and medical research, to capture genetic information and samples are processed in a CLIA-certified laboratory, the gold standard for laboratory testing, that also adheres to CAP (College of American Pathologists) standards. These are the same standards applied to doctor-ordered tests. We also have a variety of proprietary validation processes and quality controls that are applied to data before information is ever returned to a customer”.

How does 23andMe stand out to other competitors?

“We offer the only FDA-authorized genetic health reports directly to consumers, without a prescription. We also have a unique Research division, in which our customers can consent to participate in research (over 80% of them do consent) and answer questions that we can then use for research. Our customers have contributed to over 100 studies/published papers to date!”

How does the company overcome setbacks?

“Our CEO has said she doesn’t shy away from conflict. If you put your head down, do the work you need to do, and don’t give up, persistence will pay off. In 2013, when we received the letter from FDA warning us to stop marketing the Ancestry + Health Service, we didn’t give up. We believe people have a right to their genetic information without going through a doctor, and we are committed to providing it in the most responsible way possible. We will continue to work with the FDA to get more genetic information out to the public”.

Are you looking to improve? If so, how?

23andMe

Image From 23andme.com

“Yes, we are constantly looking to improving and working to provide additional information to our customers. Prior to November 2013 had more reports than we currently offer. As an FDA regulated company we’re working with the agency to provide health-related reports to our customers, beginning with carrier status, authorized by the FDA in February 2015, and genetic health risk reports, authorized by the FDA in April 2017. In fact, we just announced the FDA clearance of our BRCA 1/2 (Selected Variant) report, that is the first FDA authorized genetic test for cancer risk, and also expanded our Ancestry Composition product to over 150 populations around the world. We also just launched our Conditions pages, where customers can rate various treatments for common health conditions they suffer from, including asthma and depression”.

Continue Reading

Business

Entrepreneurship 10 Years Ago

Published

on

In the past recent years we’ve seen an explosion of startups and communities created all over the world to cater to their needs.  Long ago I still remember the days when the word “Startup” or “Entrepreneur” were used as euphemisms for more derogatory terms such as deadbeat, broke, and no future.  There was a time when you wouldn’t want to even THINK of calling yourself an entrepreneur unless push comes to shove.  Hell, I remember the time when people refer to failing businesses as “Startup” as a gentle way of saying that business will never succeed.

Oh the times have changed…

Today more billion dollar valuation companies are created than ever before thanks to the Startup Culture.  And today we have more self-made millionaires and billionaires all coming from Entrepreneurial backgrounds.  It really is amazing how quickly the world has come to accept entrepreneurs and startups as a successful movement and an integral part of innovation and driving force to a sustainable future.

Continue Reading

Business

Home Office Safety Tips

Published

on

home office safety

Here’s some home office safety tips. In today’s digital world more and more companies are allowing their employees to work from home. The employees can increase their productivity when they do not need to commute daily. The only requirement is an internet connection. However, there come some security issues with this freedom and flexibility. You need to create a safe home office environment to reap the benefits of telecommuting.

Security of sensitive data (Home Office Safety)

Cyber security is a big concern for the business houses as more and more people are electing the ‘work from home’ option for freedom and flexibility. It is vital to work from a secured Wi-Fi connection to keep all the sensitive data away from the prying eyes. The companies provide VPN access to its employees, but if someone hacks the home Wi-fi connection or public hotspot, your data could be compromised. Make sure you secure your sensitive data to have proper home office safety.

So, you need to be extra cautious about other devices connected to your wi-fi. You should also invest in a robust anti-virus software. Do not let your family members use your work laptop. You should always follow the company policy of accessing the company network remotely. Your computer should have up-to-date operating systems, antivirus software and regular scanning programs. You should take extra care about storing office files and backup. The storing location should be approved and accessible by your company.

Workstation safety

Many organizations ask their employees to read and sign a telework agreement. These agreements clearly mention the home safely checklist. People who want to telecommute must have a separate and secure workstation. The work area should be peaceful and quiet. Your desk height and chair should be proper. You cannot work for longer periods if your table and chair are not comfortable. Your back should be adequately supported. Floors should be dry and free of hazards. You must also keep a first aid kit at your workplace. To avoid fire hazards, there should be more than one exit. You should keep a fire extinguisher too. The workspace should be free of clutter and trash. You should keep your work devices far from flammable items. Your office furniture and equipment should be ergonomically correct. Your table should have enough space for computer, printer, document holder, and phone.

Electrical safety

In recent years, computer-related accidents and falls have increased quite a bit. Experts suggest placing the computer or any other work devices away from the edges of desks. You need to organize and secure the open wires to avoid tripping over them. You should install safety covers on unused electrical outlets. You should keep your computer equipment connected to a surge protector. You should not keep any damaged or exposed wiring. Avoid use of extension cords. Keep the electrical plugs and panels in good condition.

The employer often overlooks the health and safety issues of a telecommuter. The teleworkers should have a proper understanding of the hazards of working alone at home. There should be a safety surveillance program to check the ‘work-at-home’ arrangement. Monitoring the safety of every telecommuter is difficult for the company, but they can provide proper safety guidelines to every teleworker. The employees can do self-inspections and send in regular reports to the company HR department.

Continue Reading

Trending