StartOut awards highlight LGBT business leaders

Gay entrepreneur Peter Thiel was the keynote speaker at StartOut's inaugural awards gala in San Francisco last week, and said that Silicon Valley is the place to be for budding high-tech start-ups.

StartOut is a nonprofit organization dedicated to empowering and developing entrepreneurship in the LGBT community. It is growing at a rapid pace and expanding into new cities. In its first year, StartOut grew from an idea into a national organization with over 2,500 participants from coast to coast. It has managed to attract some of the top LGBT names in the entrepreneurial community to participate in its events. This past year, most of the efforts were focused on growing existing programs and starting chapters in new cities.

Thiel, who received the JPMorgan Chase Leadership Award, had a "fireside" discussion with Aaron Hicklin, editor-in-chief of Out magazine, at the gala, held at the W Hotel. Thiel is a technology entrepreneur, investor, and philanthropist. He co-founded PayPal and was its CEO. He currently serves as president of Clarium Capital.

Thiel was also an early investor in Facebook, and sits on the company's board of directors. He has most recently been in the news for his $2.6 million contribution to Endorse Liberty, the pro-Ron Paul super PAC that has produced several viral videos and sponsored sharp attack ads against Paul's opponents in the Republican presidential race.

"We all have these ideas and ambitions when we are young and we question ourselves, and ask ourselves how we can do this and how we can do it in a way it's never been done before," said Thiel during his conversation with Hicklin.

Thiel believes that every great business is a monopoly. "It offers something that is so special to the world," he said.

When asked about Silicon Valley, Thiel said, "It's the place to be in our country."

He thinks there is a sense to do something new and different in Silicon Valley and is predicting change soon.

"The best edit is a re-write and that might be the case in Silicon Valley," he noted.

Thiel's plans for the next decade include working more with other people who want to be venture capitalists. "I want to find ways to help other people become as good or better as I was this past decade," he said.

Members of StartOut such as Ken Priore, general counsel for Grindr, the gay social networking mobile application, felt the event was inspiring.

"I have been involved in venture capital for over 10 years and this is the first significant visibility and recognition that LGBT individuals have had in that community," said Priore.

Priore, a member of StartOut for two years, said, "This was the first time I have ever felt such a strong LGBT identity in a professional sphere where being gay was often accepted, but not visible."

Kim Frank of Corp-Growth also attended.

"I thought it was a tremendous crowd and event and I was thrilled with the caliber and breadth of recipients and attendees," she said. Frank agreed with other attendees who were there to network and meet new people. "I met and engaged with incredible role models and successful LGBT entrepreneurs."

StartOut members benefit from a multitude of programs that are specifically designed to help and support entrepreneurs at any stage of their business. Programs address a broad variety of entrepreneurial issues and bring together resources needed to succeed.

StartOut also helps the LGBT community by building equality through promoting the economic empowerment of the LGBT community, and combating discrimination by promoting the visibility of successful LGBT entrepreneurs, among other activities.

One of the organization's missions is to provide role models for LGBT young professionals. By introducing youth to successful entrepreneurs and the concept of entrepreneurship as a career, they help inspire and foster new ideas and opportunities. There is also a mentorship program that connects new entrepreneurs with experienced professionals who provide support and advice to help them build, fund and grow their businesses.

StartOut's most important role is building a community where LGBT professionals can help each other. It brings together members of the community as well as supporters with a common interest in entrepreneurship at various stages of building their careers. They host several networking events in major cities and encourage interaction within the community.

The awards dinner last week was sold out.

"I was very excited, elated, and proud to be able to present StartOut's first LGBT awards for entrepreneurship," said Bryan Janeczko, one of the founders and members of the board. Janeczko recently founded Wicked Start, which helps small business owners and early-stage entrepreneurs realize their dreams of starting a business by collaborating with a team of professionals who share this vision.

Janeczko told the Bay Area Reporter of upcoming projects for StartOut in 2012.

"We're piloting a lesbian mentorship program and I'm piloting a support forum in New York City where a limited group of entrepreneurs meet monthly to share experiences both personally and professionally to grow great businesses," he said.

A similar forum is expected to hit the Bay Area in the next three to six months. Janeczko is also exploring the idea of creating an LGBT fund to invest in LGBT-founded businesses in efforts to create community support and build the next generation of great businesses.

In addition to Thiel, other awardees included philanthropist Kathy Levinson, who received the Pillsbury Winthrop Advocate Award; Geoff Lewis, who received the Wells Fargo Next Generation Award; and Ramona Pierson, who received the Google Innovator Award.

For more information, visit http://www.startout.org.