Meet Devon Fanfair, GP @ Devland

Sophie: Good day, readers! Today, we have the pleasure of sitting down with Devon Fanfair, the Co-Founder of Devland, a startup studio and innovation fund. Devon's unique journey in the world of startups and venture capital is an inspiring one, and we're excited to delve into his experiences and insights. Welcome, Devon!

Devon Fanfair: Thank you, it's great to be here!

Sophie: Let's dive straight into Devland. Devon, can you share with us what inspired you to co-found Devland and what it's all about?

Devon Fanfair: Devland is really close to my heart. It's a startup studio and innovation fund based in Houston, Texas. My inspiration for co-founding it stemmed from a desire to meld my engineering expertise with strong emotional intelligence to support the development of underestimated founders. Through our nationwide Entrepreneur-in-Residence (EIR) programs, we foster these founders while focusing on sustainable growth strategies and successful fundraising endeavors. Our mission at Devland is to unlock the potential of overlooked entrepreneurs and create innovative, beautiful spaces that benefit communities.

Sophie: That's an incredible mission, Devon. Can you share an example of how Devland has made a tangible impact on the communities it operates in?

Devon Fanfair: Our work at Devland is deeply rooted in the pursuit of being a leading firm that funds diverse founders who are innovating in advanced industries. This includes a focus on sectors such as space exploration, robotics, computing, and hardware, as well as addressing critical issues impacting climate and human health. Specifically, we're investing in autonomous climate and defense technology, hybrid materials and manufacturing systems, and applied robotics to replace humans in high-risk jobs.

By targeting these areas, we aim to not only drive forward technological innovation but also tackle some of the most pressing challenges of our time. For instance, our investments in autonomous climate technology are aimed at creating solutions that can predict, mitigate, and adapt to climate change more effectively. Similarly, our focus on hybrid materials and manufacturing systems is about advancing the capabilities and sustainability of production processes, making them more efficient and less harmful to the environment.

Moreover, our commitment to applied robotics is particularly focused on enhancing safety and efficiency in industries where human risk is high. By supporting startups that develop robots capable of performing dangerous tasks, we're not only pushing the boundaries of what's technically possible but also ensuring that human life is preserved and protected. This approach underlines our belief in the power of deep tech to significantly improve the quality of life and the health of our planet.

Sophie: It's clear that Devland is making a significant difference. Devon, your career has been quite diverse. How have these diverse experiences shaped your approach to entrepreneurship and leadership?

Devon Fanfair: Each experience has been instrumental in shaping my approach, teaching me the importance of adaptability and determination. My varied roles, from advising on software solutions to co-founding startups, have given me a deep understanding of different industries and made me a well-rounded leader. This diversity enables me to bring a broader perspective and innovative solutions to the challenges we face.

Sophie: Finally, Devon, with your background in Mechanical Engineering from Rice University, how has this foundation influenced your career in startups and venture capital?

Devon Fanfair: My engineering background has been crucial, providing a solid foundation in problem-solving and critical thinking. These skills are indispensable in the startup ecosystem, allowing me to methodically approach challenges and discover innovative solutions. This technical foundation, combined with my passion for human connection and sustainable entrepreneurship, has been key in navigating the complexities of the startup and venture capital landscape.

Sophie: Devon, thank you for sharing your inspiring journey and insights with us today. Your work at Devland is a testament to the significant value you bring to founders and the startup ecosystem. We look forward to witnessing the continued impact of your endeavors.

Devon Fanfair: Thank you for having me. Discussing my experiences and the future of innovation and community development in the startup world has been a pleasure. I'm excited about what lies ahead.

GROW by Devland

Devland's GROW initiative stands as a paradigm of holistic economic empowerment, seamlessly integrating support for a diverse array of businesses, from nimble micro enterprises to rapidly scaling startups. This inclusive approach transcends traditional entrepreneurial support systems, underscoring the program's commitment to fostering a rich and robust entrepreneurial ecosystem.

Central to the GROW program is the recognition that the path to economic vibrancy lies not just in assisting individual businesses but in nurturing a dynamic business environment where a variety of enterprises can thrive. By extending its resources and expertise to both micro businesses and startups, GROW cultivates an environment ripe for innovation, collaboration, and mutual growth.

Micro businesses, with their unique community ties and local impact, benefit from GROW's tailored strategies and mentorship, gaining access to essential resources that might otherwise be out of reach. This support is vital in ensuring these smaller-scale businesses can solidify their presence and continue to serve their communities effectively.

Startups, often on the cusp of significant growth, find in GROW a nurturing ground for scaling their operations. The program's focus on aspects like funding attraction, revenue traction, and lean operations is particularly beneficial for these businesses, poised as they are for expansion and greater market penetration.

The inclusion of both business types in the GROW program is a testament to Devland's understanding of the diverse needs within the entrepreneurial landscape. This strategy enriches the program, allowing for a vibrant tapestry of businesses that contribute uniquely to the economy's health and dynamism.

GROW's holistic approach not only aids in the individual success of businesses but also contributes to the cultivation of a thriving entrepreneurial ecosystem. In this environment, different kinds of businesses can coexist, collaborate, and collectively contribute to the broader economic narrative. This, in turn, fosters a diverse economic environment, enhancing the resilience and vibrancy of the communities GROW touches.

In essence, GROW represents more than a program; it embodies a movement towards inclusive economic empowerment. By embracing a range of business types and focusing on the creation of a robust entrepreneurial ecosystem, GROW sets a new standard in business development and support, one that is inclusive, dynamic, and profoundly impactful.

Spare Change, Pies, Drones, and New Builders at Devland

TRANSCRIBED AND EDITED FROM VIDEO WITH MELISSA, MILES AND DEVON

May 14th, 2021: The Building Blocks 

This past week we started to share some opportunities to interface with the Devland Angels community. We are growing with about 22 angels (mostly legacy Devland investors) and several new members recently added. Angels are the “believers” that help companies through the most important stages of early growth. There are two companies from our portfolio that we put in front of our angels this past week. 

Here is a recap:

Moneta is the bridge to the mobile money future. They're leveraging technology to enable merchants to receive cash of any denomination and return change back digitally. As you many of you may know, we're in a coin shortage right now and it's shown more intensity in certain areas of the US. Their solution is helping to drive versatility for merchants and bridging transactions back to e-wallets. They have secured a pilot with a mid-sized south Florida retailer with visibility to large players like Costco. In terms of enabling merchants to be transactional, regardless of the cash denominations, and change the nominations they hold. That company was spawned from Miles’ own Alma mater, the University of Miami and the team has grown by one recently as they recently brought on a software engineer. So we're looking to engage angles on that.

Next up is Pietisserie, a California-based food company that has expanded from brick and mortar to Whole Foods in an 18 month growth period, now with over 80 retail accounts. The aesthetic is beautiful and bright, a cult brand moniker similar to SUPREME, graced with an incredible product design quality. The flavors were designed by Jaynelle St. Jean as a inspired discovery of the food and artisan space. Having no background in culinary when she started she has authored over 50 recipes, product design IP and new production techniques. She is a creative that found food as a canvas to express her ideas with a strong entrepreneurial hustle to craft novel popups and product placement with notable appearances on TV. The window of opportunity has really expanded, this next year the business is on path to national distribution through Tony's and UNFI.

New Builder Programs

Devon and Miles are in the process of formalizing our investor offering for new LPs to power pipelines in Tulsa, Atlanta, Houston, and Los Angeles. If you are connected to LPs and Funders who have a desire to deploy into alternative funding models please connect with us. Miles has served as lead to committee within the GSSN community charged with articulating a path of standardization for Startup Studio Legal Structures for the benefit of all new studio builders and studio investors. We are proud of the work they have produced to date that will be initially available for utility by GSSN Studio organizations.

We are incredibly excited to have committed to such a rewarding path and are witnessing incredible growth with new stakeholders. The catalyst for this was definitely the work done in 2018-2020, stealth but incremental. So, as Devon and Miles say “stay in the car, what you're looking to accomplish is just on the other side of what you're working at.”

We're currently here in Tulsa working on the Atento Capital EIR program which is powered by our internal studio program model and expanding into an annual program entry path for 5 new entrepreneurs. We've taken stewardship over this program as a partner to a venture capital firm based in Tulsa, Oklahoma demonstrating the portability of our internal programs. Devland's core program curriculum and mentors represent important components in activation of a high quality startup builder pipeline of emerging entrepreneurs that will impact the Tulsa startup ecosystem. The investor ecosystem is bullish, engaged and excited to produce new success.

In August, we will be launching a partnership program with a non-profit organization based in Bentonville, AR. This new program is targeted at improving black business health with 10-weeks of project based learning and workshops in the consumer goods category. Members of this cohort series will be presenting their final projects at this years Northwest Arkansas Tech Summit.

As a startup studio our evolution is highlighted by our core program finding path through licensing and literature, with our program structure as bones for other organizations (including VCs) to leverage as they move rapidly in support of emerging startup entrepreneurs.

Frontier Technology Programs

Quick update on our frontier technology arm with Rain Research. Project 1 was funded by strategic investors in January 2021 and is building and growing quickly. The team has made the pace in development of a next-gen detection/response system for wildfire suppression and are preparing for a commercial pilot opportunity. They're in the process of hiring an aerospace engineer, a mechatronics engineer, and also a software engineer that deals with perception technology/computer vision. To learn more about these roles view more here.

We're excited to share more updates over the coming weeks. If you are connected to any driven, motivated idea-stage entrepreneurs, people who do not have stakeholders yet, literally busting at the seams to work on something new — send them our way. Our community is vital to us, if you feel that they have the persistence to pursue startup life, we are very interested in being introduced to individuals like this. Send a note over to Miles at hello@devland.us to setup introduction.

We will talk to you soon. Stay focused and build better. Thanks so much!

First Time Founder Flex

There is a really interesting story about observations that Devon and I recount in our history with first time founders. He conveniently refers to the air of arrogance and lack of coach-ability in early founders as FTFF’s aka “First Time Founder Flex.” When we began working with entrepreneurs within a program structure we entered this place with learnings brought forth by some previous ad-hoc engagements with EIRs. There is a fence line between Founders with Ideas and active entrepreneurship. Our programs have grown increasingly focused on capacity and drive over skills through our observations within the primary Devland Entrepreneur program.

Here are the Top 3 things that Founding Entrepreneurs get wrong in the idea stage.

My Idea will look just like I imagined.

Ideas are just a signal, a starting place, they don’t typically resolve as your final solution.

I’m building an app. You can’t tell me anything different.

Most ventures start as a service leveraging some existing habit or behavior. With technology that behavior is now made more tangible with increased value or ease.

I don’t have traction with my idea so something must be wrong with the customer or user.

Businesses are an apparatus to serve people and other companies. If you don’t have anyone to serve most likely you are building in the wrong direction.

Why Studio’s matter…

Studios are here to provide a space for growth of ventures but especially the entrepreneurial leaders behind them. The success of a venture is heavily tied to the entrepreneur, the network they forge and their ability to resource pivotal outcomes. While we appreciate a certain level of zeal and confidence, we are most excited about daily motivated entrepreneurs willing to navigate through to the solution that has stickiness with the primary market audience target. Failure is key as well, an individual’s refusal to fail is best employed as fuel to remain in continuous pursuit of outcomes in and out of failure points that occur on the way to success.

THE FUTURE OF CONNECTED DEVICES AND INFRASTRUCTURE.

We have been keenly interested in the progress happening in this space for quite some time. In our homes we interact with devices and appliances that are growing increasingly connected. Working at home as we have throughout this pandemic, you have begun to observe the limits of your devices. Internet connectivity and the total usage throughout each day has incrementally taxed our home and ISP networks. As builders at Devland, the focus has been to investigate the emerging trends in connected devices in order to propose new concepts for our team to work on with new entrepreneurs and research teams. We have grown concerned about device dependency on internet based connectivity. Through our idea review process we have generated new concepts that abide by a simple set of principles.

This process starts typically with a few questions:

How does is this solution interact with humans as well as other devices?

How does the presence of this connected device impact bandwidth or available cell connectivity load?

How do these devices function offline or in disaster scenarios?

What can we create that understands the present constraints and still provides a useful solution to the desired end user? 

We get involved in a heavy initial discussion before we launch an ideas campaign where our team will begin formulating idea proposals that are able to answer these questions effectively. By effectively, we intend the ideas to be communicated in a way that exposes an opportunity for further validation. As the process goes on, the goal is to depart from a blue sky premise to something tangible and executable as a prototype based on currently available materials and resources.

The Disaster Radio

We have always wanted to create devices that are able to provide offline network connectivity in the event of a disaster or network outage. In 2017, we were interfacing with volunteers and activists working with the People’s Open Network. Based on their work we began researching disaster radio concepts for mesh nodes and offline p2p networks created by modifying router firmware. It seemed evident to us that there was potential for offline network connectivity that would allow neighbors to exchange messages and even set up a lo-fi homepage for emergency information and updates. We have since only seen major uses for this abroad beyond the disaster use cases. If there is a future for technology like this we’ve backlogged our current work for now and hope to maybe pull it out or repurpose it in the near future.

If you are interested in learning more about the projects we are developing join us to get plugged into our research distribution list sharing brief updates about new work we are exploring.