Ep. 277 - Melissa Vincent, ED of Pipeline Entrepreneurial Fellowship on Helping Midwest Startups Grow & Thrive

On this week's episode of Inside Outside Innovation, we sit down with Melissa Vincent, Executive Director of Pipeline Entrepreneurial Fellowship. This recording was part of our IO Live series and Melissa and I sit down and talk about the people, the resources, and the companies making the Midwest a great place for startups to grow and prosper. Let's get started.

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Interview Transcript with Melissa Vincent, Executive Director of Pipeline Entrepreneurial Fellowship

Brian Ardinger: Welcome to Inside Outside Innovation. I'm your host, Brian Ardinger. And as always, we have another amazing guest with us today. This is part of our IO Live series, which is our virtual conversation series to talk innovation and entrepreneurship. Part of our Inside Outside platform, where we have our podcast and newsletter and ongoing events like this. So I'm super excited to host Melissa today. Melissa is a good friend. She's the Executive Director of Pipeline. So welcome to the show, Melissa. 

Melissa Vincent: Brian, thank you so much. I love it when I get to chat with you. 

Brian Ardinger: I'm excited about this conversation. Before we get too far. I always like to thank our sponsors. Today our sponsor is the Ewing Marion Kauffman Foundation. They are a private nonpartisan foundation based in the Kansas City, Missouri. They seek to build inclusive prosperity through entrepreneur focused economic development. They've been a huge help to a lot of things going on, including Pipeline. I believe they're a sponsor for. If people are interested in finding out more about Kauffman, go to kauffman.org or check them out @KauffmanFDN on Facebook and Twitter.

And so huge shout out to our sponsors for making things like this happen. And having conversations that make Midwest Entrepreneurs even better. I was gonna say, you're new to Pipeline, but you were new from the standpoint of you started working at Pipeline right before the pandemic. It seems like that's a short time ago, but it seems now we're what, almost two years into this thing. So it's exactly, exactly the pandemic years. 

But I wanted to have you on, because I think Pipeline has been one of those proven things in the ecosystem that has helped entrepreneurs across the Midwest here. And I wanted to get you on to talk about, you know, what have you seen? What's different and, and more importantly, what's going to happen moving forward. So maybe let's start the conversation with, tell us a little bit about what Pipeline is. For those who may not know that and where we're at right now. 

Melissa Vincent: I would love to. Yes. So I have been there for, as you mentioned, it'll be two years next month. So it's kind of crazy because it feels sometimes like six months and other times it feels like 10 years because of the pandemic. So you never know. So Pipeline is a fellowship for high- growth entrepreneurs in the Midwest. We are industry agnostic. So we do everything from Bio to Ag. You name it, everything in between. And do not take equity in the organizations that we work with. 

And so we're different in that way as well. And we focus on serial entrepreneurs because they have the greatest economic impact on the region, when you focus on someone who's going to get right back up, if they have a failure. And if they succeed, they're going to get back up, start another company and invest in the community. 

Brian Ardinger: Pipeline's been around for a number of years. It was actually started even prior to me starting Nmotion and that. I think you have over 140 or a 150 entrepreneurs that have gone through the program. Had had an economic benefit. 2,700 employees I think are, are based in Kansas and Missouri and Nebraska because of the founders that have been part of Pipeline. 

Your founders have raised over $600 million in capital since joining Pipeline. And it's a flywheel approach. So, you know what started 10 or 15 years ago. Now we're seeing some of the fruits of that payoff. So tell us a little bit about how you got involved in Pipeline. 

Melissa Vincent: Pipeline was started 14 years ago. It was started by Joni Cobb and a number of key people kind of in the Midwest. She was the CEO. And the idea was that there was such, as you mentioned, like 14 years ago, we were in such a different place.

There weren't all the entrepreneur support organizations that we have now. And so, you know, when she started the organization, it was around this idea that if you came and you brought resources from the coast to the Midwest. And you focus specifically on serial entrepreneurs to have a massive impact on the region because of what we talked about earlier, they're going to reinvest, they're going to get back up, start another company. And that was really true. 

So over the last 14 years, our members are not just creating jobs. They're creating really high paying jobs. So average salary for an employee of one of our members is $52,000. So they're creating great jobs. They're creating a lot of them. And they're raising capital and they are staying here in the Midwest.

And so really over 14 years, that whole concept that we were seeing, if it could be proved or not, if you bring in these resources, what impact would that have if you focused on serial entrepreneurs is proven. So it's like, okay, successful, we've done that. That's really amazing. But then it becomes the question of 14 years later, how things changed. Like to your point, we've had, with the pandemic and we've had social injustice that's been ongoing that really came to a head last year.

So we have all these different things that happened over the past few years. And so I think for us as an organization, we've really looked at well, how do we respond to that? And I think there's a lot of other entrepreneurial support organizations that are doing the same. How do we step in. How do we be a part of that progress and change that really needs to happen? 

That's where Pipeline is headed. But we couldn't have gotten there without the legacy that was started 14 years ago, by bringing in all these resources and creating some amazing fellowship programs. 

Brian Ardinger: It's been a very important piece of the puzzle. When I started Nmotion, I think it was 10 years ago, ish. It was the first accelerator in Nebraska at the time that's a equity based accelerator. But we quickly wanted to tie ourselves with Pipeline and get our founders an opportunity to move through the Pipeline. And you find those early stage founders. You get them a little bit of capital. You surround them with mentors and investment capital.

We help build that. And then you also then connect them into a wider network. I think that was one of the most important things about like an Nmotion is, you know, we started in Lincoln, Nebraska. But we realized quickly that you can't build a startup ecosystem by yourself. In just...