In this episode we welcome Ann DeWitt, General Partner at Engine Ventures. She introduces Engine Ventures and how it grew out of MIT to back tough tech companies that work across disciplines, beyond the biology and computer science startups that usually draw investors. Ann also explains the programs and resources offered by Engine Ventures to help founders transform their ideas into successful businesses.
With her VC perspective, Ann covers the importance of clear checkpoints and staged funding for companies with long timelines and heavy capital needs. She discusses why impact has to come first if a financial return is going to follow, offering plenty of advice for founders and early career scientists. Ann shares what it takes to catch an investor's eye when they are deciding which startups to back.
Time Stamps
0:55 Introduction to Ann Dewitt and her transition from scientific research to venture capital
6:38 Introduction to Engine Ventures
10:00 What is tough tech and what makes it different from other startups
16:13 Why investor prioritize “impact”
24:06 Future growth opportunities within the neurology field
28:47 Common challenges founders face and how to overcome them
33:22 Advice for scientists on building a business perspective
38:46 Women in biotech
45:52 Quick fire questions