After working for years in early-stage startups and as a journalist, here are three hard truths I’ve learned:
1. Success in Silicon Valley hinges on connections, hard work and luck.
2. Startups often fail because founders lack fundamental business knowledge.
3. Real, actionable advice comes from those who’ve actually done it.
There’s no such thing as “founder DNA.” If you’re willing to take on risk and invest years of your life in something that has maybe a 10% chance of paying off — less if you’re a woman or person of color — you can be a startup founder.
Here’s why I founded Fund/Build/Scale:
1. To help founders make fewer mistakes.
2. To share successful strategies that can accelerate your go-to-market journey.
3. To inspire more people to see themselves as potential founders. There’s a lot of overlooked talent out there, and we are missing out.
This podcast is for anyone who’s interested in learning the basic skills required to launch a startup, secure initial funding and transform an idea into a sustainable business.
I’m talking to guests about everything: finding a co-founder, conducting customer discovery, recruiting early employees, developing a PLG strategy, fundraising when you’re outside a major tech hub — all of it.
Interested? Subscribe to Fund/Build/Scale on all major platforms and follow the podcast on LinkedIn or Substack to get articles, excerpts, transcripts and more.
All content for Fund/Build/Scale is the property of Walter Thompson and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
After working for years in early-stage startups and as a journalist, here are three hard truths I’ve learned:
1. Success in Silicon Valley hinges on connections, hard work and luck.
2. Startups often fail because founders lack fundamental business knowledge.
3. Real, actionable advice comes from those who’ve actually done it.
There’s no such thing as “founder DNA.” If you’re willing to take on risk and invest years of your life in something that has maybe a 10% chance of paying off — less if you’re a woman or person of color — you can be a startup founder.
Here’s why I founded Fund/Build/Scale:
1. To help founders make fewer mistakes.
2. To share successful strategies that can accelerate your go-to-market journey.
3. To inspire more people to see themselves as potential founders. There’s a lot of overlooked talent out there, and we are missing out.
This podcast is for anyone who’s interested in learning the basic skills required to launch a startup, secure initial funding and transform an idea into a sustainable business.
I’m talking to guests about everything: finding a co-founder, conducting customer discovery, recruiting early employees, developing a PLG strategy, fundraising when you’re outside a major tech hub — all of it.
Interested? Subscribe to Fund/Build/Scale on all major platforms and follow the podcast on LinkedIn or Substack to get articles, excerpts, transcripts and more.
Building Hard Tech: Lessons on Funding, Teams, and Timelines
Fund/Build/Scale
51 minutes
2 months ago
Building Hard Tech: Lessons on Funding, Teams, and Timelines
Transforming breakthrough research into a sustainable company is never simple — especially in hard tech.
In this episode recorded in December 2024, Zero Emission Industries CEO/founder Dr. Joseph Pratt and Chief Strategy Officer John Motlow share what it takes to move hydrogen power systems from the lab to the marketplace. We talk about raising money in tough conditions, why government grants can be both a blessing and a constraint, and how to build teams that thrive under pressure. Along the way, they offer candid lessons on funding, hiring, and navigating timelines that rarely go as planned.
RUNTIME 51:52
EPISODE BREAKDOWN
(2:11) “ I knew the path on how to solve it and knew that there was demand for it, and took the jump out of the national lab to start the company.”
(6:36) “ I didn't jump into this with a big network of investors.”
(8:57) How ZEI produced the world’s first commercial fuel cell ferry.
(10:56) Why the company’s first hire was a Chief Strategy Officer.
(12:53) John Motlow says he wanted to join ZEI “because it was incredibly risky.”
(17:06) Crafting ZEI’s GTM strategy for the FCV Vanguard, a hydrogen-powered, high-performance speedboat.
(21:55) Is ZEI a transportation company, or a clean tech startup?
(24:20) When it comes to deep tech, customer requirements are wayfinders for PMF.
(29:47) “Government funding and their insights is sort of half the picture.”
(35:30) “ To be clear, we talked to a lot of investors who did not agree with our TAM.”
(39:09) Why they overindexed on hiring employees who have a background in motorsports.
(42:19) Joe’s advice for building specialized teams in a competitive market.
(47:38) “ Don't slot someone in there and then forget about it: Where are their strengths?”
(49:27) What’s next for ZEI?
LINKS
Zero Emission Industries
Dr. Joseph Pratt
John Moslow
FCV Vanguard — Live Demo (YouTube)
ZEI Raises $8.75 Million in Series A Funding
SUBSCRIBE📸 Follow Fund/Build/Scale on Instagram: https://www.instagram.com/fundbuildscale/
📥 Get the Fund/Build/Scale newsletter on LinkedIn: https://www.linkedin.com/newsletters/7249143254363856897/
Thanks for listening!
– Walter.
Fund/Build/Scale
After working for years in early-stage startups and as a journalist, here are three hard truths I’ve learned:
1. Success in Silicon Valley hinges on connections, hard work and luck.
2. Startups often fail because founders lack fundamental business knowledge.
3. Real, actionable advice comes from those who’ve actually done it.
There’s no such thing as “founder DNA.” If you’re willing to take on risk and invest years of your life in something that has maybe a 10% chance of paying off — less if you’re a woman or person of color — you can be a startup founder.
Here’s why I founded Fund/Build/Scale:
1. To help founders make fewer mistakes.
2. To share successful strategies that can accelerate your go-to-market journey.
3. To inspire more people to see themselves as potential founders. There’s a lot of overlooked talent out there, and we are missing out.
This podcast is for anyone who’s interested in learning the basic skills required to launch a startup, secure initial funding and transform an idea into a sustainable business.
I’m talking to guests about everything: finding a co-founder, conducting customer discovery, recruiting early employees, developing a PLG strategy, fundraising when you’re outside a major tech hub — all of it.
Interested? Subscribe to Fund/Build/Scale on all major platforms and follow the podcast on LinkedIn or Substack to get articles, excerpts, transcripts and more.
