In episode 66 of the Disruptors for GOOD podcast, I speak with Brad Feld, Co-founder of Techstars and the Foundry Group, on turning his entrepreneurial and venture capital journey into global startup communities dedicated to solving complex challenges.

Brad Feld is co-founder of the Foundry Group, and has been an early stage investor and entrepreneur since 1987. Brad previously co-founded Mobius Venture Capital and Techstars, and prior to that, founded Intensity Ventures. Feld was an early investor in Harmonix, Zynga, MakerBot, and Fitbit.

A writer and speaker on venture capital investing and entrepreneurship, Brad has written a number of books as part of the Startup Revolution series, and writes the blogs Feld Thoughts and Venture Deals. He currently is chair of the National Center for Women & Information Technology and on the boards of Path Forward, the Kauffman Fellows, and Defy Ventures. Brad holds Bachelor of Science and Master of Science degrees in Management Science from MIT and has completed 25 marathons as part of his mission to finish a marathon in each of the 50 U.S. states.

Brad Feld’s new book

The Startup Community Way: Evolving an Entrepreneurial Ecosystem is an explanatory guide for startup communities. Rooted in the theory of complex systems, this book establishes the systemic properties of entrepreneurial ecosystems and explains why their complex nature leads people to make predictable mistakes. The Startup Community Way offers practical advice for entrepreneurs, community builders, government officials, and other stakeholders who want to harness the power of entrepreneurship in their city.

About Techstars: Each year, the company chooses over 500 early-stage companies to join one of their 3-month, mentorship-driven accelerators, investing $120K and providing hands-on mentorship and access to the Techstars network for life.

To date, Techstars has accelerated over 2,000 companies, with total funding eclipsing $9B, with a total market cap of over $26B!

Check out the Techstars Sustainability Accelerator in Partnership with The Nature Conservancy!

About the Foundry Group: The Foundry Group helps entrepreneurs and venture capital fund managers turn promising ideas into market-defining and market-leading businesses. They are committed to spreading the Foundry Group ethos through investment activity as well as in the other ways the team engages with the entrepreneurial ecosystem.

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Full Interview

[00:00]

Host (Grant):

Welcome, everyone, to another episode of the Disruptors for Good podcast. I’m really excited about today’s guest, Brad Feld, a legendary entrepreneur and venture capitalist. He’s the co-founder of TechStars and The Foundry Group. For those unfamiliar with TechStars, it selects over 500 early-stage companies each year for its three-month mentorship-driven accelerator, investing $120,000 in each. The TechStars network is invaluable, and its alumni include over 2000 companies, which have raised more than $9 billion and have a collective market cap of $26 billion.

In this episode, we’ll talk about Brad’s journey—from his time at MIT to building and selling his first company and transitioning into venture capital. Brad has made early investments in well-known companies like Zynga and Fitbit. We’ll also touch on the TechStars Sustainability Accelerator in partnership with The Nature Conservancy, focusing on turning research into impactful businesses. Scientists, in my opinion, have incredible potential to be some of the most impactful entrepreneurs, and accelerators that support this are vital to our future.

Additionally, we dive into Brad’s new book, The Startup Community Way, and the impact his previous book Venture Deals had on me and others. I hope you enjoy this conversation. I’m really grateful that Brad took the time to share his journey and insights. Before we dive in, just a quick note: I’ve launched a press release submission portal for Causeartist to help brands and agencies get their news out faster. Check out the details below. And as always, you can reach out to me at grant@causeartist.com.

[04:06]

Host (Grant):

Brad, let’s start with your journey. MIT seems like a pivotal point in your career. What was your mindset after graduation, and what motivated you at that time?

Brad Feld:

I started my first company while I was still at MIT. It was creatively named “Feld Technologies,” and a lesson I learned early was to never name a company after yourself—when things go wrong, people call and ask for Mr. Feld! We were a software consulting company. This was in the late ’80s, early ’90s, when networking computers in an office was still a new concept. We built custom software systems for businesses, and because we bootstrapped, we were always profitable.

We grew Feld Technologies to a couple of million dollars in revenue by 1993 and eventually sold it to a public company, which was totally random. They were introduced to me by a cabling company we worked with in Boston. At the time, I didn’t know anything about deals or venture capital. After the acquisition, I found myself on the leadership team of a fast-growing public company, which was a big shift for me. It was during this time that I started making angel investments and learning the ropes of venture capital.

[07:26]

Host (Grant):

It seems like a lot of your journey happened organically—you didn’t set out to be a venture capitalist. Did people start coming to you with investment opportunities after your company was sold?

Brad Feld:

Yes, after I sold my company, my network expanded quickly. I was meeting a lot of entrepreneurs, especially around MIT, and many were starting companies, so I made investments in their ventures. I didn’t have a formal strategy, but I was curious and eager to learn. I’ve always believed in giving first—helping others without expecting anything in return. This philosophy helped me build relationships, and over time, those relationships turned into opportunities.

[10:14]

Host (Grant):

Let’s talk about TechStars. It’s now one of the most well-known startup accelerators in the world. How did it all start?

Brad Feld:

TechStars began with a meeting between me and David Cohen. David had this idea for a mentorship-driven accelerator that would help early-stage companies. He wanted to bring together 10 companies for 90 days, provide them with mentorship, and give them a small amount of capital. When he pitched the idea to me, I loved it. I immediately called my friend Jared Polis, and within minutes, we had enough funding to get TechStars off the ground.

In 2007, we ran the first TechStars program in Boulder, and we viewed it as an experiment. Our worst case was that it wouldn’t work, but we’d make some new friends and learn a lot along the way. Now, 14 years later, TechStars has grown into a global network, helping startups all over the world. It’s been an amazing journey.

[14:21]

Host (Grant):

Your journey with TechStars has really changed the startup landscape globally. How do you view the evolution of startup communities and the impact of TechStars on fostering innovation outside of Silicon Valley?

Brad Feld:

TechStars was founded on the idea that you don’t need to be in Silicon Valley to build a great company. Entrepreneurship should be accessible to anyone, anywhere. We wanted to democratize entrepreneurship and help build startup communities in cities across the world. TechStars now operates in about 30 cities, but through programs like Startup Weekend and Startup Week, we’ve touched almost every country.

We’ve learned that building a startup community requires a long-term view. It’s not something that happens overnight. You have to nurture it, and that’s one of the core principles of my book The Startup Community Way.

[18:33]

Host (Grant):

Speaking of innovation, you’ve been involved in TechStars’ partnership with The Nature Conservancy. Can you share more about that and your thoughts on sustainability-focused startups?

Brad Feld:

Yes, my wife Amy and I are deeply involved with The Nature Conservancy (TNC), and we believe in the importance of sustainability and conservation. About three years ago, TechStars partnered with TNC to create the Sustainability Accelerator. The idea was to take TNC’s research and turn it into impactful companies. Scientists, in my opinion, can be some of the most impactful entrepreneurs if given the tools and resources to commercialize their research.

The accelerator supports startups focused on ocean health, water conservation, clean energy, and more. One example is a company that built software to track fish sales through the supply chain, creating more transparency in the fishing industry. These types of innovations are crucial for the future of our planet.

[26:01]

Host (Grant):

It’s clear that COVID has been a wake-up call for many. How do you think this crisis will shape innovation and entrepreneurship going forward?

Brad Feld:

COVID has certainly shown us how interconnected everything is. We’re facing multiple crises at once—health, economic, mental health, and racial equity. These crises are all part of complex systems, and they’re deeply intertwined. I hope COVID is a wake-up call for our species, but I also worry that we have a short attention span. We need to start addressing these systemic issues now, not wait for the next crisis to hit.

I believe entrepreneurship and innovation will play a key role in solving these challenges. But it’s not going to be easy, and it will require a long-term, systems-based approach.

[32:12]

Host (Grant):

Let’s talk about your new book, The Startup Community Way. What’s the main message, and how does it build on your previous work?

Brad Feld:

The Startup Community Way builds on the ideas from my 2012 book, Startup Communities. In that book, I introduced the concept of a “boulder thesis,” which laid out a framework for building startup communities. The new book takes this a step further by exploring startup communities as complex adaptive systems.

We argue that startup communities aren’t static—they’re constantly evolving. You can’t control them from the top down, but you can nurture them and help them grow. The book also touches on how corporations can engage with startups and how rural areas can build their own startup communities. It’s a guide for anyone interested in fostering entrepreneurship, whether in a big city or a small town.

[38:48]

Host (Grant):

In terms of global startup ecosystems, what’s your take on how entrepreneurship has evolved internationally over the last decade?

Brad Feld:

I think we’ve seen an incredible democratization of entrepreneurship around the world. It’s no longer just about Silicon Valley. Cities like Tel Aviv, Amsterdam, and Melbourne have become tech hubs, and innovation is happening everywhere. This is a positive-sum game—more innovation doesn’t mean someone has to lose. We’re all benefiting from the creativity and solutions being developed globally.

[42:59]

Host (Grant):

Thank you so much for the insightful conversation, Brad. I truly appreciate your time. Best of luck with everything going forward.