Q&A with Jay Leib, Founder NexLP
It’s that time again! Last week, Techstars welcomed its Summer 2014 class into 1871’s downtown Chicago Merchandise Mart space. Over the course of a 90-day period, Techstars offers startups $118,000 in seed funding, intensive mentorship, and a vast network of mentors and alumni for 7-10% equity in each company. After an intensive application process, 10 startups, 6 of which are originally Chicago-based, made the Techstars roster. Let’s meet them!
1. If you had to describe your company in one sentence, what would you say?
NexLP is an awesome technology team utilizing artificial intelligence to fight fraud and reduce expenses related to lawsuits.
2. What led you to become a part of Techstars & 1871?
Gale Bowman from IrishAngels encouraged us to apply for Techstars. I had a misconception that Techstars really focused on consumer tech and NexLP is about technology for the enterprise. However, once I met with Troy Henikoff and Steve Farsht and learned how Techstars could help NexLP, I knew we had to go for it. We are excited to be co-working in 1871, we love the intellectual vibe. Kit, YE and myself had a similar feel when we worked at kCura before forming NexLP.
3. What are 3 things that get you excited about working out of Chicago?
a. Chicago has diverse business segments – from financial community, legal, manufacturing, retail, technology and a host of others.
b. Great talent – I have hired many people in my career and folks working in Chicago are typically hard-working problem solvers
c. Architecture & Sports – Chicago is a world-class city to live in and we are the best (most forgiving) sports fans in the world.