This serial entrepreneur’s next startup? Helping other people start startups.
Robbie Allen, a serial entrepreneur in the Triangle known for his work in artificial intelligence, thinks there should be more Robbie Allens.
So Allen, who has led startups like Automated Insights and Infinia ML, has delved back into the world of startups to create something he thinks will make it easier to jump into the world of entrepreneurship.
Naturally, the company, called Startomatic, plays off his expertise in automation, and he says it should help people cut through the red tape and legal work that comes with creating a company.
“I believe entrepreneurship should be an option for many more people,” Allen said in an interview. “I worked at Cisco for a number of years before I convinced myself I could start a company. ... And when I look back on it, I think there are a lot more people like me that could be successful.”
“Part of it is motivational,” he added, “but I also believe there is technology that can get [companies] off the ground and make it easier and cheaper than what it is today.”
Allen said Startomatic will act as service helping a new business owner do everything from thinking of a company name, getting a website domain, filing state registrations, searching trademark domains, designing a logo and setting up social media. Eventually, he wants Startomatic to be able to register bank accounts and get business insurance.
He noted there are already companies, like LegalZoom, that help entrepreneurs do some of the basic legal work involved with a business. But he wants to put everything that goes into setting up a business in one place.
“There’s currently not a one-stop shop for that,” he said. “A challenge for a new entrepreneur is that it’s so overwhelming and you have to take care of all these paths.”
He envisions Startomatic doing that for less than $1,000 and getting it done in less than 24 hours. He said business filing fees in North Carolina could run a couple hundred dollars, and it might take three weeks to get the necessary paperwork completed. With partnerships and automation, he thinks he could cut down prices and times.
Allen said high-growth startups won’t be the main customer for Startomatic. Rather it will be Main-Street-style companies.
“We are not targeting tech startups predominantly because most of the existing platforms are focused on venture-backed, high-growth companies,” he said. “We are going after everyone else, which is the vast majority of companies that are created.”
Allen is founding the company with Andrew Fisher, an attorney and entrepreneur. They plan to finance and build the venture themselves. They hope to launch at least a beta version of the platform in the first quarter of this year.
Allen has a history of building companies focused on automation. His former startup, Automated Insights, gained notoriety for its product, Wordsmith, which could automate 2,000 written stories per second and has been used by outlets such as the Associated Press and Yahoo Inc. to create sports game recaps and financial stories.
Allen won’t be leaving his latest company, Infinia ML, completely while working on Startomatic. He plans to be active with the artificial intelligence company, which was founded by a Duke University professor, for a few days a week.
“I am still a senior adviser kind of helping with strategy and business development as needed,” Allen said. “I continue to want to be helpful to the company, and I think they still have a bright future.”
This story was produced with financial support from a coalition of partners led by Innovate Raleigh as part of an independent journalism fellowship program. The N&O maintains full editorial control of the work. Learn more; go to bit.ly/newsinnovate
