Greg Gilman of Science reveals his Startup lessons from the trenches
We had a wonderful conversation with Greg Gilman, CEO and Cofounder of Science-Inc while attending the StartEngine ICO Summit in Santa Monica. Greg shared his journey from entrepreneur to startup lawyer and back to cofounder, and investor now running an investment company and incubator focused on emerging tech companies and blockchain.
Greg’s entrepreneurial journey began fairly early, when as a second year law student, he started and sold a company which lifted him out of some financial troubles. This success led him to continue on this path, making a small profit with each business he started and sold. All was going well until the company he was building after law school collapsed. His fall back luckily, was to start practicing corporate law for technology and entertainment companies specializing in intellectual property.
After years of practicing law, Greg shifted course to pursue a role teaching at the Center for Entrepreneurship and Technology law at Pepperdine Law School, where he designed and taught courses on intellectual property and licensing. Even though he liked teaching, he was not fond of academics, because of the slow pace and was also turned off by the petty politics in academia. Thus, Greg was relieved to jump back into the startup game when his brother convinced him to start a Healthcare IT company called RxVantage which connected physicians and healthcare providers to Pharma and other players in the industry. While building his company he was fortunate to have investors that were patient with their progress and learned from them that patience is a key virtue when it comes to the world of investing.
His latest venture, Science-Inc came as a result of a great partnership with Michael Jones, the former CEO of Myspace who Greg had previously worked with on various projects as a legal advisor. They created a team made up from people who they worked with on previous projects and started the company as a business incubator aiming to reduce or fully eliminate the common problems that startups face and that often result in total failure.
Science-Inc has an internal engine that enables start-ups to tap into the resources for young companies desperately need at the beginning such as great design, development and customer acquisition. One of the biggest errors Greg sees new founders making is that they are fascinated with the idea of secrecy, this is a common error when they should actually be doing the opposite, speaking about their project which enables them to tap into their networks and extended friends, mentor and investor networks. In the end it’s really about execution vs. having a unique original idea.
One of their biggest early successes was the relaunch of the Dollar Shave Club which was eventually sold to Unilever for $1 billion dollars!
Currently, Greg is particularly interested in a new ICO on the market called SpringRole. He describes SpringRole as an incentivized LinkedIn. It uses a token to incentivize user behavior for easy verification of people’s information. The purpose is for workers to be able to validate their experience and accomplishments so that companies looking to hire can have confidence in whether the applicant’s profile information is accurate and truthful.
This was a truly fascinating conversation with Greg, who is a startup visionary. If you're interested in learning more about Science; check out Science-inc.com or have a listen to this fascinating and helpful conversation.