Seedrun

Can you give a brief introduction about yourself?

I’m Sami, currently working at Emerge Education, which is a pre-seed and seed fund specifically focused on EdTech and the future of work. We're a team of five currently closing our second fund. So sort of a startup of the vc world as well. Before that I've worked in operational and strategic roles across Uber, gorillas and also as a management consultant.In my spare time I'm a school governor for three local primary schools in Hackney and I enjoy running.

How did you get started in the field of investment?

I have always been interested in making an impact in education. I was previously achieving this through my governor role in my spare time stuff. I began thinking, how can I spend more of my professional life working in an industry that I really care about and want to make an impact in? And that's what got me into looking into the investment investment world. So being in the VC space focused on education is the best of both worlds for me. So that's how I got into it, it was education first, then investing

Within education, what do you typically focus on for your investment?

Our thesis is centered around EdTech productivity and the future of work with the tagline “anything that democratises access to opportunity”.

Have you ever made an investment or formed a partnership through a networking event like Seed Run?

I'm very new in the industry. However, definitely already had some strong early indicators from Seed Run events, meeting lots of extremely passionate, interesting people working on fantastic, exciting prospects. In fact I have already scheduled two founder calls from the last Seed Run.

What trends in the startup world are you most excited about?

The opportunities that AI will bring to the education space. From AI powered authorship of learning materials, to saving teacher time to focus on real value add activities, to one-on-one tutoring, where previously it was only accessible to the top, like 5%. Education is going to benefit from AI in just such a huge way and so quickly.

Can you talk me through your due diligence process?

We begin with a first initial call with the founder focused on the founder's magnetism and passion. Enthusiasm is crucial because when we find companies it's at the very beginning of a long journey, and for them to be able to get through, and make a success of whatever they're working on, they need to have what it takes. And so the first call it is all about sussing out whether or not you think that founder has what it takes to see the journey through. Secondly, you're looking at the idea does it fit with the thesis? Can we deliver the maximum value to the startup based on the people we know and the services we can offer and the knowledge we have? And then, do we think that this idea can have venture sized outcomes?

What's a deal breaker for you when you're evaluating a startup?

For me, founder passion. I'm immensely passionate about education and I want to see that matched in anyone I'm speaking to. And if it's not matched then you have to questions does the founder have what it takes? If you don't have boundless energy for what you're building, then it's very likely that you're going to run out of steam. When the going gets super tough you may be more tempted to just pack it in rather than running through walls to make sure that you achieve what you're set out to.

What's a deal breaker for you when you're evaluating a startup?

For me, founder passion. I'm immensely passionate about education and I want to see that matched in anyone I'm speaking to. And if it's not matched then you have to questions does the founder have what it takes? If you don't have boundless energy for what you're building, then it's very likely that you're going to run out of steam. When the going gets super tough you may be more tempted to just pack it in rather than running through walls to make sure that you achieve what you're set out to.

Fred Wilson has cereal boxes in his board room to remind him of the time they passed on the Airbnb founders, and that the people are more important than the current iteration of an idea. What mistakes have you made?

It's a really good one. Well, I'm very early in the game, so I haven't thankfully made any fundamental mistakes such as the Airbnb investment decision. However, one that I have to keep reminding myself of is it can't be a heart driven decision in its in its full sense. Coming back to the same point about venture backable great ideas versus great ideas. There's been a number of founders that I've spoken to in a short space of time where I see what they are building is going to be fantastic, but it's just not a great fit.

What advice would you give to a startup looking to attract investment?

I'd say firstly, especially in the pre-seed to seed stage, it's often not too early to start engaging and finding out. If you think that's the path that you're going down, ultimately don't ever think we haven't got enough to show for yet. Because as a pre-seed and seed fund, we're interested in you and the idea that you've got at this stage. At Emerge we have a hundred plus venture partner network containing a who's who of successful founders and CEOs in the education space that we can lean on to deliver real value as you build your company in the early stages.

How can we improve Seed Run?

It needs to be better socialised, if that's the game. But it comes down to it is Seed Run a venture scale business, or would that kill it? I think it would. because do you really want 300 people turning up?