How DreamIt Ventures Helps Launch 10 Startups A Year From Philadelphia -with Steven Welch

DreamIt Ventures gives 10 startups a year a little money ($10,000 – $25,000) and a lot of mentoring to help them launch their businesses. I invited one of the seed fund’s co-founders, Steven Welch, to talk about how they pick the 10 startups and how they help turn ideas into businesses.

I also asked him to tell us a little bit about the business he bootstrapped in his 20s and his recent run for Congress.

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About Steven Welch

Steven Welch is the cofounder of DreamIt Ventures, a venture capital firm specializing in incubation and seed investments. In July 2007 (at the  age of 29), Steven sold the Mitos group of companies that he had started building 6 years earlier to Parker Hannifin (NYSE: PH)—an S&P 500 company.

He recently wrote the book, We Are All Born Entrepreneurs.

You should say hi to him on Twitter.

Raw transcript


This is a raw, mechanical transcript.

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  • jkuria

    really enjoyed this! Keep bringing us these great guests.

  • briteguy

    You are my hero, Andrew.

    You inspired me just when I needed it. I think I owe you big, will pay you back if I got my first million ;-)

  • http://www.jamesphart.com James P Hart

    Based on this interview I think Steven's talents might have been wasted, or maybe just stifled, if a political life was pursued.

    I enjoyed the interview.

  • http://www.moxe.net/ Doug Wulff

    Startups, beware. Think it's hard to raise a seed round now? Republican's are not the party you should be concerned with. Look at this 'little' line item in the Financial Reform Bill: http://www.techflash.com/seattle/2010/03/congre

  • nowlink

    We need more solid firms like DreamIt in the Midwest. Too many good ideas and people are fleeing our region for “startup hotspots” like Silicon Valley, Austin, etc. Philadelphia may be further east, but it's within driving distance from Cleveland, Pittsburgh, etc. Keep the great interviews like this one coming. Thanks Andrew!

  • Chude Muonelo

    Nice interview Andrew, thanks for coming on Steven. One of the DreamIt Ventures companies, Jobaphiles, really gots me thinking, how do you know a one good programmer from another? We're online entrepreneurs, right? How do we know what skills are needed for what? I would like to see an actual programmer on here, talk about what skills would be needed for certain jobs. What makes a programmer good! What's the top programming language? (u may have already done this, if so, somebody tell me which interview). How do I find a GREAT programmer/designer, who'd be willing to work for sweat equity like Gurbaksh Chahal said?

  • Chu Muonelo

    Nice interview Andrew, thanks for coming on Steven. One of the DreamIt Ventures companies, Jobaphiles, really gots me thinking, how do you know a one good programmer from another? We're online entrepreneurs, right? How do we know what skills are needed for what? I would like to see an actual programmer on here, talk about what skills would be needed for certain jobs. What makes a programmer good! What's the top programming language? (u may have already done this, if so, somebody tell me which interview). How do I find a GREAT programmer/designer, who'd be willing to work for sweat equity like Gurbaksh Chahal said?

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