Andrew Wilkinson is an successful entrepreneur and venture capitalist from Canada who has played a very key role in shaping the world of technology and also startups. As the creator of Tiny, Metalab, Axiom Zen and Flow he has gone on to become an icon in the tech circles due to his success as an entrepreneur and his investments into other thriving startups.
Andrew Wilkinson was born in the beautiful Vancouver, Canada and went on to study computer science at the prestigious University of British Columbia. Following his graduation, he worked for several technology firms including Microsoft which allowed him to acquire many skills in the business. Nonetheless, entrepreneurship was something that Andrew always loved and he finally chose to start his own small business. In 2007, he established Tiny; a company that primarily focuses on the web application and service development. Within a very short time, Tiny became successful and was acquired by another company that is bigger than it. This helping Andrew to concentrate on other interests.
Andrew created Metalab, a venture capital firm investing in the early-stage startups after the success of Tiny. Metalab invests in the companies that are developing breakthrough technologies, hence it has invested into many successful start-ups such as Hootsuite; Unbounce and BuildDirect. The firm by the name Metalab is considered as one of Canada’s leading venture capital companies, assisting many startups to take off their feet and also become successful businesses.
Andrew has also participated in many other projects than his own work with the Tiny and Metalab. He is the co-founder of Axiom Zen, which in turn is a company focused on blockchain technology development and also Flow – a platform offering organizations tools that can be used for workflows management. These ventures, on the other hand, have made it possible for Andrew to continue his pursuit of innovation and technology while also becoming an established figure in the tech community.
Andrew has become a very successful entrepreneur due to his knowledge in the technology and also identifying potential startups, which made him well-known within the tech industry. He is frequently invited to speak at the conferences and events, in addition to appearing on many publications such as Forbes 10 TechCrunch. He has also become a mentor to several young entrepreneurs as well as helped nurture the subsequent generation of tech leaders via Metalab.
Andrew’s 10 Million Dollars Mistake:
Andrew Wilkinson founded Flow, a company offering workflow management services. He thought that they could not match the product which had been developed by them with other similar products in the market. But as the company expanded, users began asking for alternative versions on other systems such as iPhone, Android and iPad Mac. Asana, a rival company, immediately published the clients for all platforms, which had 5 times more developers than Flow. This forced mobile compatibility to be a key aspect in the comparison between the two products.
After 12 years of having spent more than $10 million on a losing battle, Andrew Wilkinson tweeted that they will stop burning the money. He admitted that the situation was absurd and defeat impending.
Andrew shared the crucial lessons he learned from this experiences:
- In a VC-backed competitive space, competing without adequate resources like funding is very foolish. Therefore you should not go into a battle without the right equipment.
- The best product doesn’t always win, and product quality is not a long-term competitive advantage.
- If an event occurs and there is no one there to observe it, it’s as if it never happened.
- Every day, developers around the world think about building a to-do list app, and people are constantly trying new productivity apps and workflows. There is no barrier to entry in the productivity market, so it’s best to avoid it if possible.
- SaaS Business Should Be Customer Focused As Much as Possible.
- It is usually that failure comes slowly and then instantly seizes the control over.
- During the process of research and development, it is very EXPENSIVE especially when vying with venture funded start ups.
- If you are competing on features, it is a continuous and growing cost that never goes away.
- A product that’s good and has strong marketing will beat a product that’s amazing but lacks marketing.
- Good but with a brilliant marketing will win over the amazing one that lacks proper marketing.
- The perfect setup for building a business without any outside investment is in the niche market with very little competition or special advantages such as personal brand, unique way of acquiring clients etc.
Andrew’s achievements as an entrepreneur and also a venture capitalist have not been left unnoticed, receiving many awards for his benefits in the tech world. In 2016, CB Insights listed him as one of the Top 100 Venture Capitalists and in early-mid year he was included into Forbes Midas List that recognizes the tech world’s top investors.
The current net worth of Andrew is estimated to be approximately $300 million mainly due to the profits acquired from his successful investments into many startups and also individual businesses. He is regarded as one one of the most prominent entrepreneurs in Canada, and his success has motivated numerous people to take their routes into this industry.
Apart from his involvement in the tech world, Andrew is also a philanthropist and he cares about returning to society. He supports several charitable organizations such as the BC Cancer Foundation, and also the Canadian Cancer Society among others through contributions to support their important work.
Andrew’s way of dealing and talking about the business deals comes from how willing he is to create products that can surely change people’s lives. He is a technology enthusiast who strongly believes that the startups have the potential to change the world, and his contributions towards transforming tech projects help many young entrepreneurs realize their dreams.
