NW Valley Times

New York Times best-selling author Eric Ries recently shared his insights on startups and entrepreneurship at the Canyon Angels Startup Pitch Event in the Canyon Ventures Innovation Center. Ries, who is on his third startup, emphasized the importance of learning from both successes and failures in the startup world.

During the event, Ries discussed the significance of angel investors in the startup ecosystem, stating, “The first and most important part of being an angel investor is first learning to be a nondisruptive investor, and then eventually learning to be an additive investor – someone who actually helps make entrepreneurs better.” He also highlighted the importance of building a personal brand in the startup community to attract deals.

Ries also touched on the trend of artificial intelligence investments, cautioning investors about making uninformed decisions in this rapidly evolving field. He noted that many people are making “terrible, just abysmal” AI investments by equating AI with Software as a Service (SaaS).

Cole Daniel, deal flow director for Canyon Angels, expressed his excitement about having Ries share his expertise with the group, which provides undergraduate students with real-world experience in investing. The organization, founded in 2015 at Grand Canyon University's Colangelo College of Business, boasts 70 active angel investor members who have funded 64 companies with over $6 million since its inception.

Ries also shared valuable lessons from his own entrepreneurial journey, underscoring the importance of gaining hands-on experience in understanding the dynamics of a startup. He encouraged aspiring entrepreneurs to immerse themselves in the decision-making process to gain valuable insights.

The event culminated in students pitching three startup companies to Canyon Angels for potential investment. Ultimately, CrisprQC, a biotechnology company focused on gene editing to treat serious diseases, was chosen for investment by Canyon Angels.

The event provided students with a unique opportunity to learn from Ries's experiences and insights, shaping their understanding of the startup landscape and preparing them for future roles in the industry.

For more information, contact GCU News Senior Writer Mark Gonzales at [email protected].