Startup Science Podcast with Gregory Shepard From Farm to Fortune: Toph Day on Building Businesses, Leading with Humility, and Fueling Innovation in the Midwest (Part One)
Mar 26, 2025
31:56
In this electrifying episode of the Startup Science Podcast, Greg Shepard sits down with Toph Day, the visionary CEO of Elevate Ventures, one of the most active seed and early-stage investors in the Great Lakes Region and a top 20 venture capital firm globally. With over 30 years of entrepreneurial experience and multiple exits to Fortune 500 companies, Toph shares his incredible journey from growing up in a strict German Baptist household on a small farm to becoming a powerhouse in the venture capital world.
Toph opens up about his early days as an entrepreneur, founding eight businesses across seven different sectors, and how his relentless curiosity and work ethic propelled him to success. He dives deep into the key lessons he’s learned in leadership, including the importance of listening, vulnerability, and giving credit to others. Toph also shares his insights on adapting leadership styles across diverse industries, from AI to broadband, and how humility and respect are critical to building high-performing teams.
The conversation takes a fascinating turn as Toph discusses his role at Elevate Ventures, where he’s leading the charge to modernize the organization and launch a $200 million growth fund. He breaks down the three pillars of Elevate’s strategy—community, capital, and acceleration—and how they work together to create a thriving entrepreneurial ecosystem in Indiana and beyond.
Toph also offers invaluable advice for founders, emphasizing the importance of grit, creativity, and focus. He shares practical tips on how to avoid common pitfalls, such as overcomplicating go-to-market strategies and the critical role of tracking data from day one. Whether you’re a seasoned entrepreneur or just starting out, this episode is packed with actionable insights and inspiration to help you navigate the challenging yet rewarding world of startups.
Tune in to hear Toph’s incredible story, his vision for the future of innovation, and his advice for building businesses that stand the test of time. This is an episode you won’t want to miss!
Toph opens up about his early days as an entrepreneur, founding eight businesses across seven different sectors, and how his relentless curiosity and work ethic propelled him to success. He dives deep into the key lessons he’s learned in leadership, including the importance of listening, vulnerability, and giving credit to others. Toph also shares his insights on adapting leadership styles across diverse industries, from AI to broadband, and how humility and respect are critical to building high-performing teams.
The conversation takes a fascinating turn as Toph discusses his role at Elevate Ventures, where he’s leading the charge to modernize the organization and launch a $200 million growth fund. He breaks down the three pillars of Elevate’s strategy—community, capital, and acceleration—and how they work together to create a thriving entrepreneurial ecosystem in Indiana and beyond.
Toph also offers invaluable advice for founders, emphasizing the importance of grit, creativity, and focus. He shares practical tips on how to avoid common pitfalls, such as overcomplicating go-to-market strategies and the critical role of tracking data from day one. Whether you’re a seasoned entrepreneur or just starting out, this episode is packed with actionable insights and inspiration to help you navigate the challenging yet rewarding world of startups.
Tune in to hear Toph’s incredible story, his vision for the future of innovation, and his advice for building businesses that stand the test of time. This is an episode you won’t want to miss!