At 1871’s 8th annual ScaleUp conference, growth-stage founders and leaders at growing companies came together at BMO Tower in downtown Chicago. The half-day event encompassed curated keynote conversations and panel discussions designed to provide attendees with the strategies and resources they need to scale their solutions.
From an earnest talk with Alex Jones, Co-Founder and CEO of Hallow, about finding your purpose, to a video demonstration of Oishii’s robotic strawberry picker, one thing was clear: scaling is about more than numbers. It is about disrupting industries, improving outdated systems with big ideas, and unlocking a meaningful force behind innovation.
Finding Something Bigger
In 2018, Alex Jones quit his consulting job at McKinsey & Company to build Hallow, a Catholic prayer and meditation app, alongside his co-founders. After reconnecting with his Catholic faith and experiencing the benefits of religious meditation, he was inspired to share his findings to help others. Since launching, Hallow has garnered over 22 million downloads and raised over $100 million in funding. How did they do it? Jones took the ScaleUp stage to discuss his entrepreneurial journey.
“In the early days, it was about reaching people who had fallen away,” he shared. “And to do that is to take risks. I’d rather screw something up because there’s a chance I’ll reach the woman who’s going through a tough time.” That ideology has been the driving force behind Hallow since its inception, and aligns with one of Jones’s biggest pieces of advice to founders: it can’t just be about the numbers. He spoke candidly with attendees about how difficult it is to navigate the ups and downs of the growth stage, and expressed that without his greater desire to help people connect with their faith, he likely would have given up. Jones also emphasized the importance of surrounding yourself with an incredible team of people who, not only are skilled at their roles, but are passionate about the solution you are building. Hallow’s story inspired audience members to define their greater purpose and set a motivational tone for the rest of the afternoon.
All About Brand
The first panel of the day was hosted by Oishii, the world’s largest indoor vertical strawberry farm that is revolutionizing agricultural technology. Rita Hudetz, Chief Commercial Officer, and Eric Adamson, Principal Robotics Executive, gave a joint presentation on how Oishii has leveraged brand identity and innovative technology to become a key player in the AgTech space.
“Technology doesn’t scale without trust,” said Hudetz. “Don’t be afraid to tell stories in a meaningful way.” In her presentation, she demonstrated the volatility of the growth stage, specifically in the AgTech industry, and emphasized how creating a cohesive and relatable brand identity helped them navigate challenges surrounding funding, operating, and scaling. Adamson spoke on the nuances of Oishii’s technology and how they transformed those complexities into something marketable. From their recent marketing campaign about the sentimentalities of strawberries down to Hudetz’s strawberry red shoes, Oishii is a prime example of the importance of putting brand at the forefront of your growth strategy.
Balling on a Budget
One of the first questions that comes to mind surrounding innovation is: how much will it cost? During the second panel of the day, Innovating Without Breaking the Bank, attendees learned that innovation doesn’t have to be expensive.
According to Jeff Judge, Fractional CTO at Bright, the first step to cost-effective innovation is making sure your “house is in order.” “Removing roadblocks is important so the team can innovate together.” Caroline Vial, Founder and CEO at Upward Bound, highlighted the importance of creating a work environment where people of all roles and experience levels feel comfortable sharing ideas. She referenced Pixar, which famously invited all staff members — even office baristas — to view early versions of films and provide feedback. You don’t need to hire a dedicated innovation team or invest in expensive technology. Whether it’s through hiring an intern or leveraging AI, there are countless ways to innovate without breaking the bank.
Be Intentional
The final panel of the day offered strategies for founders to leverage AI, improve their customer journey, increase internal efficiencies, and form strong relationships with investors. Marina Malaguti, Founder of Deleg8, shared her experience working with AI as a co-founder, and encouraged attendees who might not be utilizing AI to begin with the smallest, most manual tasks. “You are no longer afforded the ability to not use AI,” she said. Alix Prassas, EVP and Head of Organizational Effectiveness at Momentum HCA, emphasized the importance of building your team with intention, and documenting your onboarding process and customer journey to identify and close any gaps. “That’s a real indicator that you’re thinking beyond tomorrow,” she said.
From an investment perspective, Shawn Park, Associate at Chicago Ventures, shared that “great founders are ones who can articulate their vision… and understand where they are in the journey.” At his firm, he explained the founders are building scrappier models, and instead, focusing their energy on creating a clear vision of what solutions they offer and a strong understanding of where they fit into their markets. The main takeaway from this panel is to be intentional. Understand exactly what you’re doing and why you’re doing it, and then take carefully thought-out steps to build your solution effectively.
To conclude the day, Wallace Harris Jr., President of BMO Investment Services, took the stage alongside 1871 CEO Betsy Ziegler to share his words of wisdom for founders navigating the growth stage. Before officially closing out the afternoon, Ziegler shared her appreciation for growth-stage founders, acknowledging the unique challenges that come with scaling a company. “We need you to keep building, keep solving, keep showing up,” she said. “You are the growth engines of Chicago.”
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