Interview with Chris Olson, Director of Operations at accelerator, Amplify LA.
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“Instead of first considering the idea, take a look at the people behind it”, accelerator Amplify Director of Operations, Chris Olson said. Having a good jive with the people you work with (and invest in!) is what Amplify is all about.
“We even tell companies who come through that they should go with the accelerator they feel the most connected with,”Olson said. “We know in some cases that is not going to be us because how we think or how we work, but we always say: don’t just look at the tangible resources you get, look at who you like as a person because that’s who you’re going to be around every day.”
That’s exactly how Olson said he came on board two years ago: founder Jeff Solomon approached him and he trusted him.
“It was a no-brainer, the people behind this were incredibly talented people,” Olson said. “I wasn’t sure if I would love it, but it was an opportunity I couldn’t pass up and now I am in a great place.”
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Because of this “people first” philosophy, Olson said it is not strange for Amplify to accept an idea the team doesn’t love if they are crazy for the entrepreneur. And, with no classes (a big differentiator from other LA accelerators), Amplify encourages those accepted entrepreneurs to jump right in the very next day if they are willing.
This way of thinking has paid off: Amplify companies have raised about $25 million and have two exits so far. Amplify’s first exit, Look.io, wasn’t just a big deal for the Amplify team though, it was also the first exit to come out of an accelerator in LA (it was acquired by a company in New York).
Now Amplify is focusing on providing as much support as possible to its current companies, such as FloQast, RadPad, MapSense, TheBouqs, ShipMate, and Eversport “not to keep an eye over their shoulders, but for them to have a solid backbone,” Olson said. The support system that Amplify provides- which includes a massive kitchen and an in-house “mom” - is proof that Amplify’s mentors and investors are seriously devoted to each company and the LA tech community.
“Our investors know there is this core system of technology in Los Angeles; they decided to put their money in LA and see what it has to offer because they truly believe in LA’s technology ecosystem,” Olson said. “They have faith in building great companies in Los Angeles. That’s what’s cool in being a part of all this: helping this community to grow and thrive.”
