Ep. 104: Building Your Team & Product in Tandem—with Sam Cole & Sameer Baroova of FitXR
12/17/20 • 40 min
Here at Boost VC, we define a startup as an organism in which the founders work to attract the smartest, most dynamic people to solve the problem they believe is most important. Yes, their ultimate goal is to build a product. But more importantly, they are building a talented team that will actualize that product together.
CEO Sam Cole and CPO Sameer Baroova are the Cofounders of FitXR, a startup that is putting the fun back into fitness by way of award-winning virtual reality fitness experiences. In FitXR’s virtual gym, users have access to 20-plus hours of boxing and dance workouts choreographed by professional fitness instructors. Sam draws on his background in consulting and private equity to lead the FitXR team and Sameer’s experience in the gaming industry informs his work around product creation.
On this episode of Boost VC, Sam and Sameer join us to describe their dynamic as cofounders, discussing what they do to navigate disagreements and how brutal conversations early on served to strengthen their relationship. They explore their inherent drive to be entrepreneurs and share the lessons learned from their struggle to raise money for FitXR. Listen in to understand why fitness is the killer app of VR and learn how Sam and Sameer are building a dynamic team that makes progress—with or without their meddling!
Topics Covered
Why Sam & Sameer think fitness is the killer app of VR
- Most fun way to work out at home
- Transport self to completely different world
Public assumptions re: VR based on the hype of 2015
- Cumbersome tech with lots of cables
- For gaming only, doesn’t scale
How Sam & Sameer met and became cofounders
- Discussed idea at business school interview
- Founded FitXR 12 months after graduation
Why Sam & Sameer work well together as cofounders
- Shared ideals and work ethic
- Candid communication (brutal conversations)
How Sam & Sameer navigate disagreements
- Listen to each other and respect expertise
- Bring in data, ask team for input on decisions
How Sam & Sameer divide up responsibilities
- Sameer responsible for product creation
- Sam works with all department leads
The fundraising challenges Sam & Sameer faced
- Lessons learned from struggle (be cockroach)
- Easier as more understand + respect space
Sam & Sameer’s drive for entrepreneurship
- Encouraged by parents, support of partners
- Always entrepreneurial but risk averse
The most fun part of Sam & Sameer’s day-to-day
- Build team and watch company grow
- Progress made without their direct touch
Sam & Sameer’s definition of success
- Goal-driven to accomplish mission
- See work through to end (good or bad)
Connect with Sam & Sameer
FitXR https://fitxr.com/
FitXR on Facebook https://www.facebook.com/WeAreFitXR/
FitXR on Instagram https://www.instagram.com/wearefitxr/
FitXR on Twitter https://twitter.com/weareFitXR
FitXR on YouTube https://www.youtube.com/channel/UC5j5_pTobcYj50xfaxE68Ng
Resources
Beat Saber https://beatsaber.com/
Oculus Quest 2 https://www.oculus.com/quest-2/
Accepted https://www.imdb.com/title/tt0384793/
Startup School https://www.startupschool.org/
Minecraft https://www.minecraft.net/en-us
FIFA 21 https://www.ea.com/games/fifa/fifa-21
Super Smash Bros. https://www.smashbros.com/en_US/
Planet Earth https://www.bbc.co.uk/programmes/b006mywy
Connect with Boost VC
Boost VC Website https://www.boost.vc/
Boost VC on Facebook https://www.facebook.com/boostvc/
Boost VC on Twitter https://twitter.com/BoostVC
Boost VC on Instagram https://www.instagram.com/boost_vc/
Here at Boost VC, we define a startup as an organism in which the founders work to attract the smartest, most dynamic people to solve the problem they believe is most important. Yes, their ultimate goal is to build a product. But more importantly, they are building a talented team that will actualize that product together.
CEO Sam Cole and CPO Sameer Baroova are the Cofounders of FitXR, a startup that is putting the fun back into fitness by way of award-winning virtual reality fitness experiences. In FitXR’s virtual gym, users have access to 20-plus hours of boxing and dance workouts choreographed by professional fitness instructors. Sam draws on his background in consulting and private equity to lead the FitXR team and Sameer’s experience in the gaming industry informs his work around product creation.
On this episode of Boost VC, Sam and Sameer join us to describe their dynamic as cofounders, discussing what they do to navigate disagreements and how brutal conversations early on served to strengthen their relationship. They explore their inherent drive to be entrepreneurs and share the lessons learned from their struggle to raise money for FitXR. Listen in to understand why fitness is the killer app of VR and learn how Sam and Sameer are building a dynamic team that makes progress—with or without their meddling!
Topics Covered
Why Sam & Sameer think fitness is the killer app of VR
- Most fun way to work out at home
- Transport self to completely different world
Public assumptions re: VR based on the hype of 2015
- Cumbersome tech with lots of cables
- For gaming only, doesn’t scale
How Sam & Sameer met and became cofounders
- Discussed idea at business school interview
- Founded FitXR 12 months after graduation
Why Sam & Sameer work well together as cofounders
- Shared ideals and work ethic
- Candid communication (brutal conversations)
How Sam & Sameer navigate disagreements
- Listen to each other and respect expertise
- Bring in data, ask team for input on decisions
How Sam & Sameer divide up responsibilities
- Sameer responsible for product creation
- Sam works with all department leads
The fundraising challenges Sam & Sameer faced
- Lessons learned from struggle (be cockroach)
- Easier as more understand + respect space
Sam & Sameer’s drive for entrepreneurship
- Encouraged by parents, support of partners
- Always entrepreneurial but risk averse
The most fun part of Sam & Sameer’s day-to-day
- Build team and watch company grow
- Progress made without their direct touch
Sam & Sameer’s definition of success
- Goal-driven to accomplish mission
- See work through to end (good or bad)
Connect with Sam & Sameer
FitXR https://fitxr.com/
FitXR on Facebook https://www.facebook.com/WeAreFitXR/
FitXR on Instagram https://www.instagram.com/wearefitxr/
FitXR on Twitter https://twitter.com/weareFitXR
FitXR on YouTube https://www.youtube.com/channel/UC5j5_pTobcYj50xfaxE68Ng
Resources
Beat Saber https://beatsaber.com/
Oculus Quest 2 https://www.oculus.com/quest-2/
Accepted https://www.imdb.com/title/tt0384793/
Startup School https://www.startupschool.org/
Minecraft https://www.minecraft.net/en-us
FIFA 21 https://www.ea.com/games/fifa/fifa-21
Super Smash Bros. https://www.smashbros.com/en_US/
Planet Earth https://www.bbc.co.uk/programmes/b006mywy
Connect with Boost VC
Boost VC Website https://www.boost.vc/
Boost VC on Facebook https://www.facebook.com/boostvc/
Boost VC on Twitter https://twitter.com/BoostVC
Boost VC on Instagram https://www.instagram.com/boost_vc/
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Ep. 105: Get Uncle Sam to Invest in Your Startup—with Sedale Turbovsky of OpenGrants
Most founders avoid dealing with Uncle Sam unless absolutely necessary. But what if you could engage the government as an investor in your startup?
Sedale Turbovsky is the Cofounder and CEO of OpenGrants, the most powerful grant search tool in the US. The OpenGrants team is on a mission to unlock billions of dollars in grant funding for the best startups in the world, providing entrepreneurs with a single platform where they can find, apply for and manage grants. Sedale is a three-time founder with a background in helping companies navigate the public funding space.
On this episode of Boost VC, Sedale joins us to explain how startups benefit from federal funding and who qualifies to receive grant money from the government. He weighs in on the culture of incumbency in the space, describing his vision to connect a diverse ecosystem of real innovators with the funding opportunities available. Listen in for insight around the government’s capacity to invest in breakthrough innovation and learn how OpenGrants can help you access the funding to get your startup on its feet!
Topics Covered
What the OpenGrants platform does
- Connect companies to grant money (simplify process)
- Enable startups to engage government as ally
The friction points OpenGrants solves for
- Opportunities spread out over internet, poor UX
- Direct matches for companies that set up profile
How startups benefit from federal funding
- De-risk and develop tech for company
- Don’t have to pay back (cheapest $ in market)
Who qualifies to receive federal grant funding
- Innovators in science and technology
- Programs that solve for social good
What inspired Sedale’s interest in the space
- Government can invest in technically risky projects
- Get more diverse ideas to government
How Sedale bridges the gap between government + startups
- Bureaucracy has created ‘culture of incumbency’
- Bring government to diverse ecosystem of innovators
- Create tools for government to realize its policies
How Sedale’s background informs his work at OpenGrants
- Operationalizing difficult-to-get data sets
- Backward experience w/ grant funding at carbonBLU
Who Sedale’s team works with at OpenGrants
- Early-stage science-based startups, nonprofits
- Series A/B startups doing additional R&D
The culture of incumbency around federal funding
- Can’t act on good intentions due to infrastructure
- 98% of 2018 NIH grants went to ‘old, white guys’
Sedale’s definition of success
- Structure life around what makes you happy
Connect with Sedale
OpenGrants https://www.opengrants.io/
OpenGrants on LinkedIn https://www.linkedin.com/company/opengrantsio/
OpenGrants on Facebook https://www.facebook.com/opengrants.io
OpenGrants on Twitter https://twitter.com/opengrants_io
Sedale on Twitter https://twitter.com/STurbovsky
Resources
Grants.gov https://www.grants.gov/
beta.SAM.gov https://beta.sam.gov/
SBIR.gov https://www.sbir.gov/
California Grants Portal https://www.grants.ca.gov/
carbonBLU http://www.carbonblu.com/
FINRA https://www.finra.org/
Momentum https://buildmomentum.io/
NIH Grants https://grants.nih.gov/grants/funding/funding_program.htm
Samuel Pierpont Langley https://www.sil.si.edu/ondisplay/langley/intro.htm
HHS’s VC Fund for MedTech https://medcitynews.com/2018/06/funding-healthcare-accelerators-an-hhs-unit-is-taking-a-vc-approach-to-innovation/
The Name of the Wind by Patrick Rothfuss https://www.amazon.com/Name-Wind-Patrick-Rothfuss/dp/0756404746
Connect with Boost VC
Boost VC Website
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