In this episode, David Carter, the chairman and founder of Entelechy Academy, walks us through his journey of creating the world's first AI-powered platform aimed at enhancing human intelligence. Starting amidst the adversities, Carter highlights how securing investor trust and navigating through market uncertainties were pivotal in raising £6 million for his venture. The story of Entelechy's inception, following the collapse of Carter's previous business, serves as a testament to resilience, innovation, and the power of a supportive investor base willing to back the vision despite past setbacks. Additionally, Carter delves into the significance of mentorship in his entrepreneurial endeavors, his philosophy of building a successful sales pipeline for startups, and the strategic approach of under-promising and over-delivering to exceed expectations and foster long-term relationships with both customers and shareholders.
00:00 Intro
00:09 Company Stats
01:07 The Birth of a New Venture Amidst Adversity
03:21 Overcoming Challenges and Securing Investor Trust
05:51 The Role of Mentorship in Entrepreneurial Success
07:07 Building a Successful Sales Pipeline for Startups
09:56 The Strategy of Under-Promise and Over-Deliver
12:08 How to Connect with David Carter
Entelechy Academy is the world's first AI-powered platform designed to enhance human intelligence, founded by David Carter in March 2020.
The academy has raised £6 million in funding across two rounds, with an initial £1 million in round one, followed by a £5 million in round two, and is in the process of closing another £5 million round.
Carter faced significant challenges, including the collapse of his previous business and difficulties in securing initial funding. However, the trust and support from former investors enabled him to launch the new venture.
Mentorship plays a crucial role in Carter's entrepreneurial journey, both as a recipient and provider. He attributes much of his success to the guidance received from mentors and emphasizes the importance of mentorship in business growth and personal development.
Carter recommends building a sales pipeline by leveraging personal networks, offering pilots or free trials, and ensuring over-delivery on promises to build trust and validate the product or service in the market.
