The New Playbook of Building Global Startups

Investing Beyond Capital: Guiding Startups to Go Global

As General Partner, my primary responsibility is to lead our investment team in identifying and cultivating high-potential investment opportunities from thousands of emerging technology startups. I work to create a robust pipeline, sharing these opportunities with our extensive network of VCs and corporate partners. We co-evaluate potential investments, gathering feedback and leveraging public opinion before diving deep into each opportunity.

“Building a team with a ‘family’ mentality, where hires are made with trust and firing is avoided whenever possible, is incredibly valuable. If someone leaves the team, trust can be irreversibly damaged. No matter the advice or narrative, the cohesion of the founding team is essential”

An equally important part of my role is mentoring our team, helping them learn how to assess and support startups using the powerful global network Plug and Play has built over the past three decades. This means connecting startups with capital, but also with our network of corporate partners across more than 20 industries and 30+ countries, helping them build a truly global footprint.

The People Factor Behind Unicorn Success

After reviewing thousands of startups, I can honestly say there’s no crystal ball for picking winners. However, team dynamics are incredibly telling—and ultimately, in any stage, a company's success depends on the founder, “the commander in chief,” and the strength of their co-founding team, board and early investors. A cap table structure also gives important psychological insights. A cap table with balanced, meaningful ownership suggests that founders focus on building a massive company together rather than controlling a large share of a small one. While solo founders can succeed, it’s generally more challenging and the risk is higher early on.

Relationships among founders are vital. The difference between a team of college roommates and a team matched by a program is real. For example, when I first met the co-founders of FiscalNote, they had known each other for years—since high school—and though they attended Harvard, Princeton and Maryland, they kept close and trusted each other when creating the company. That history created respect for the CEO and a clear leadership dynamic. In contrast, some teams can’t even agree on roles or who should lead, which can spell trouble early on.

Tools Evolve, But Founder Grit Remains

The startup support ecosystem has transformed dramatically. Today, founders can set up incorporation, banking, payroll, insurance and even investor connections within a week, compared to a far slower process in the past. Post-pandemic, much of early-stage fundraising and due diligence now happens over Zoom and in virtual data rooms, versus the in-person meetings and office visits that were once standard. AI-powered tools make it easier than ever to research competition and prepare for investor discussions, so founders can quickly clarify their differentiation.

What hasn't changed—and probably never will—is the drive and determination needed in founders to turn ideas into reality. Today, with AI and powerful enabling tools, almost any idea is attainable with the right vision and resources, but ultimately, founders’ internal motivation remains the differentiator. Service providers and investors are just enablers of that drive.

The Family Mentality Every Startup Needs

Truly successful founders put the team and mission above personal gain. Critical traits include mission-driven leadership, a mindset of service to others, and a willingness to work harder than anyone else. Early on, startups require relentless effort—and later, success often comes from finding more efficient ways to scale with a strong C-level team. Building a team with a ‘family’ mentality—where hires are made with trust and firing is avoided whenever possible—is incredibly valuable. If someone leaves the team, trust can be irreversibly damaged. No matter the advice or narrative, the cohesion of the founding team is essential.

Treat Talent as Your Edge

AI is creating a massive shift in corporate environments. In the short term, many leaders consider workforce reductions to boost productivity. While automation can yield 50 percent or more in productivity gains initially, this optimization will slow over time. Ultimately, companies with a committed, trusted workforce will have the advantage.

For those displaced by AI-driven changes, now is a unique moment to launch startups and shape one’s destiny. Ex-corporate employees can leverage their experience to develop innovative solutions, which may later be acquired by their former employers, often at a much higher cost than their previous salaries. This trend will accelerate: thousands will leave corporate jobs and return as startup founders or acquisition targets, driving an innovation cycle.

The roles of private equity and venture capital are shifting, too, with VCs moving toward more PE-style deals lower in the market and accelerators stepping into classic VC territory.

Looking ahead, the future of corporate innovation will be closely tied to universities, where breakthrough IP and research will originate, often well before they become startups. Corporate leaders must establish direct pipelines to fresh university-generated IP and publications from leading institutions worldwide to stay on the cutting edge.