Early life lessons from a family of entrepreneurs paid off for Harry Alford, the managing director of Bunker Labs DC. Bunker Labs helps military veteran entrepreneurs build their startups through a 21-week accelerator program and other mentorship services. The nonprofit has raised more than $23 million to date and has generated more than $17 million in revenue.
Alford gave DC Inno a glimpse at how he stays focused and what he would like to see happen next for his accelerator and the world of local innovation.
How do you challenge yourself to think differently from other people in the industry?
I challenge myself mainly because I have a different background from most people in the industry. I have a sports background and entrepreneur background. I didn’t go straight into corporate like most of the others I know, so I think of it as a bottom up approach, compared to the top down of the others.
Where do you find inspiration?
I find inspiration every single day, primarily in the people that I associate myself with and work with. My colleagues play a pivotal role in my life in terms of what I want to accomplish every single day. My family and fiancée, Sarah, also play a role. Sarah is a bilingual science teacher. She applies some of the stuff I do to her classroom. She did a shark tank that I judged for. I’m a voracious reader and that helps me stay humble and continue to learn and grow every single day.
What job have you had that has had the greatest impact on your career?
I think it’s a camp counselor, because it’s kind of similar to the startups that I deal with. Being at an accelerator, you never know what you’re going to get. As a camp counselor, you show up and see your assignments. An accelerator is the same thing; you never know how long you’re going to be with a startup. I’ve learned a lot from that experience, to expect the unexpected.
How will your industry change in the next five years?
Changes depends on how fast a startup converts feedback into action, that’s what we believe matters most. With continuous innovation, startups are in a good place to optimize the growth. Especially the D.C. area, places like Arlington, Rosslyn and Crystal City, there are a lot of areas making it suitable for startups to come here and be successful. The D.C. area is having a tech renaissance.
Instead of viewing everyone as a competitor, viewing everyone as teammates would benefit everyone in the long run.
How is Washington, D.C., unique when it comes to innovation?
D.C. is a very transient city, so you hear about new startups all the time. There are companies that come here first because they like the demographics. There are a lot of good opportunities here. It’s also highly concentrated with active, motivated people, and that’s what’s really attractive to startups about D.C.
What’s something that you do every single day, no matter what you have going on?
Every single day, I wake up and work out. I try to stay fit and healthy. I also go to yoga studios in my neighborhood and I try to go to those as often as I can.
Who do you admire in D.C., in your industry or other industries?
I admire Ajit Verghese from Humble Ventures. He went to the same high school as me, and we both have degrees from Georgetown and Babson College. I’ve followed in his footsteps. He’s someone I look up to. He was an entrepreneur that I aspired to be. But also I grew up in household of entrepreneurs, so I was immersed in this environment early on with my peers and parents.
What would you change about D.C. or D.C. entrepreneurial scene?
If more people realized opportunity through collaboration, pilots and established organizations, it would be better for everyone involved. There are a lot of people who live and work in silos. Instead of viewing everyone as a competitor, viewing everyone as teammates would benefit everyone in the long run.
What are some of your short term and long term goals with Bunker Labs?
We are at a point where we’re looking at finding the best sustainable business model. I think we’re on the cusp of structuring that fund. We’re posturing to foster a more collaborative between public and private business leaders. We’re in talks with Ajit at Humble Ventures to be absorbed to their microfirm.
What advice would you give to other entrepreneurs looking to progress with their business?
My best advice would be just to get as many reps as possible. Sell your idea to as many as people as possible. Don’t be afraid that someone is going to steal your idea. Something my mom always told me when I didn’t want to go to school was to just keep showing up. Just keep showing up; you never know what will happen and positive things will come from it.
