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Denim: Making the transition from corporate to startup

Denim Social Media
May 3, 2018

There was a moment when Charlie Turri knew he made the right decision.

Turri, 51, had worked for large insurance companies for nearly 25 years. But as he advanced in those large companies, he got farther and farther away from what he really enjoyed doing.

Creating.

So as Turri explored different opportunities to get back in his natural habitat he would reach out to Gregory Bailey, the founder of Denim, a Des Moines-based technology company offering mobile and social media advertising automation. The two had worked together prior to Bailey leaving the corporate world to start Denim in 2015.

“I had known Greg for a while and called him to let him know I’m looking for something different,” Turri recalls. “We started talking about what Denim needed and what I could bring to the table.”

Nearly two months later, Turri left a company with an IT department of over 350 people and was named Chief Technology Officer for Denim, a company of five full-time employees.

His first day was March 26.

Turri is the first of a three-part series where Clay & Milk talks with professionals who decided to leave Corporate America and join a startup company.

It’s just a different process

Turri moved to Des Moines four-years ago from Nashville and was “kicking and screaming” the whole way. The New Jersey-native says he wasn’t crazy about moving to Des Moines at first but after some research on commute times, cost of living and entertainment options, he was sold.

And when he started looking for new opportunities earlier this year, Turri had opportunities to leave Iowa but…

“Here I am,” Turri says.

Turri has been in the corporate IT environment for about 25 years and says he enjoys building and being part of the entrepreneurial spirit and innovation. But the further he rose in a larger company, the further away he got from that spirit.

But he found it again with Denim.

“We sit around a table, make a decision and it sticks,” Turri says. “We spent one morning talking about what a screen should look like, how it should act and it was me, Mike and Greg going through a product design and build in a couple hours. Something like that would take weeks at a larger institution because of all the different stakeholders. It’s just a different process.”

Being a disruptor

Turri says it can be hard to realize how little creativity larger companies offer until you are no longer part of it.

But making the jump to Denim Turri says made him realize not only how little creativity there was, but that he missed it too.

“That’s why Greg and I spent so much time on the front end because we probably spent six or seven weeks thinking about this,” Turri says. “I knew it would be a different way of working.”

He says one of his first projects with Denim is adding an artificial intelligence piece. And using his experience, Turri will create and grow an international market for Denim, which is something he’s done for previous employers.

“I can really talk to the struggles that those financial institutions are facing every day,” Turri says. “They aren’t going to go out and look to disrupt themselves, firms like Denim are going to have to bring that to the table.”

Turri said Denim is looking to double its team from five to ten by the end of 2018.

Previous coverage

Bailey: Denim Summit 2017 explores future of InsurTech – Nov. 2, 2017

Q&A: How Denim powers the social ad space for the insurance industry – July 11, 2017

 

Denim: Making the transition from corporate to startup | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.
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