### Dive into Entrepreneurial Wisdom

In this exciting episode of **Forward Ever: Leading in Challenging Times**, host **Gary Shorman** engages in an insightful conversation with **entrepreneur Kris Munsch**. The discussion highlights the **challenges** and **triumphs** faced by entrepreneurs in today's dynamic landscape.

### Watch the Interview

Check out the full interview below:

<iframe width="560" height="315" src="https://108.181.32.49/embed/L_j7J8c_66g?si=kAHfEv8jxgGZL6_b&amp;__cpo=aHR0cHM6Ly93d3cueW91dHViZS5jb20" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen=""></iframe>

### Key Takeaways

Kris Munsch shares valuable insights on what it takes to thrive as an entrepreneur, including strategies for navigating **challenging times**. Join us for this engaging dialogue that is sure to inspire current and aspiring entrepreneurs alike.

On this episode of Forward Ever: Leading in Challenging Times, host Gary Shorman speaks with entrepreneur Kris Munsch.

Unveiling Entrepreneurial Insights with Kris Munsch on Forward Ever

### Understanding Startup Failures

Startup failures can often be attributed to **emotional causes** rather than just market conditions or business decisions. Here are the **10 most common reasons startups fail** along with emotional insights and strategies to overcome them.

### 1. No Market Need (42%)
**Emotional Cause:** Overconfidence and attachment to a founder's idea can blind them to market realities.  
**How to Avoid It:** Embrace curiosity and humility. Conduct **surveys** and **user interviews** to ensure alignment with customer needs.

### 2. Ran Out of Cash (29%)
**Emotional Cause:** Anxiety and avoidance can lead to financial mismanagement.  
**How to Avoid It:** Establish a clear **financial plan** and seek coaching to improve resource management.

### 3. Not the Right Team (23%)
**Emotional Cause:** Hasty hiring decisions driven by pressure can create team misalignment.  
**How to Avoid It:** Implement a structured hiring process that values **cultural fit** alongside skills.

### 4. Got Outcompeted (19%)
**Emotional Cause:** Feelings of inadequacy can lead to reactive decisions.  
**How to Avoid It:** View competition as an opportunity to learn and differentiate your offerings.

### 5. Pricing/Cost Issues (18%)
**Emotional Cause:** Fear of rejection can lead to underpricing, while anxiety about profitability may cause inflated prices.  
**How to Avoid It:** Test pricing strategies with customers and seek feedback to build confidence.

### 6. User-Unfriendly Product (17%)
**Emotional Cause:** Emotional attachment to initial designs can hinder feedback acceptance.  
**How to Avoid It:** Foster a culture of **iteration and feedback** to enhance usability.

### 7. Lack of Business Model (17%)
**Emotional Cause:** Impatience often leads to neglecting sustainable business models.  
**How to Avoid It:** Dedicate time to develop a **business model** early in the process.

### 8. Poor Marketing (14%)
**Emotional Cause:** Skepticism about marketing's value can lead to deprioritization of efforts.  
**How to Avoid It:** Create a simple, consistent **marketing plan** and delegate its execution.

### 9. Ignoring Customers (14%)
**Emotional Cause:** Burnout can make founders reluctant to engage with feedback.  
**How to Avoid It:** Automate feedback collection and delegate customer engagement to reduce fatigue.

### 10. Product Released at the Wrong Time (13%)
**Emotional Cause:** Impatience or perfectionism can lead to premature or delayed launches.  
**How to Avoid It:** Use frameworks like the **Technology Adoption Curve** to assess market readiness.

By addressing these emotional triggers, founders can enhance their chances of startup success while navigating the inevitable challenges of entrepreneurship.

Here's what you need to know about the emotional causes of startup failure.

Unlocking the Secrets: 10 Emotional Triggers Behind Startup Failures and How to Overcome Them

### Editor’s Note
This story is sponsored by the **United Nations Development Programme (UNDP)** in Ukraine.

When a sapper known as **"Boroda"** approached the founders of **Rovertech**, he presented a design for a remote demining solution. Inspired by this request, they developed the **"Zmiy" (Snake)** remote vehicle, a groundbreaking initiative in Ukraine's effort to tackle the mine crisis exacerbated by the ongoing conflict.

### The Mine Crisis
Since the onset of Russia’s full-scale invasion, Ukraine has been declared the most mined country globally, risking lives for generations. An estimated **174,000 square kilometers** of land are potentially contaminated, yet Ukraine has managed to clear over **35,000 square kilometers** of hazardous areas.

!["Zmiy" (Snake) remote demining vehicle showcased during unmanned sensor testing](https://assets.kyivindependent.com/content/images/2024/12/4.jpg)
*"Zmiy" (Snake) remote demining vehicle showcased during the second phase of unmanned sensor testing.*

Despite these efforts, **139,000 square kilometers** remain unsafe, which is larger than Greece or Bulgaria. Current demining practices could take over **700 years** to clear all contaminated areas, but Ukrainian officials aim to clear **80%** within the next decade using innovative technologies.

### Innovative Technologies Leading the Way
With support from UNDP, Ukraine is becoming a pioneer in **mine action innovations**. Companies like **UADamage** are using **drones** equipped with sensors to map contaminated areas. This approach could significantly reduce the demining timeframe, potentially less than **10 years**.

### Collaborative Efforts
The **Ukrainian Researchers Society** collaborates with UADamage to analyze satellite images, identifying contaminated regions through advanced AI techniques. This technology is crucial for making areas safe for agricultural use, as mines have claimed the lives of **199 farmers** since the war began.

![Fieldwork of the Ukrainian Researchers Society](https://assets.kyivindependent.com/content/images/2024/12/IMG_6439.JPG)
*Fieldwork of the Ukrainian Researchers Society focused on clearing mines from agricultural land.*

### The Role of Robotics
The **"Zmiy"** ground drone stands out as the first certified remote demining vehicle in Ukraine. Weighing nearly a ton, it can withstand mine explosions and is significantly cheaper than foreign alternatives, costing only around **$20,000** compared to up to **€1 million** for other machines. Rovertech aims to produce **700 vehicles** to effectively tackle the demining challenge.

![A screenshot from an undated video showcasing the “Zmiy” ground drone](https://assets.kyivindependent.com/content/images/2024/12/Screenshot-2024-12-26-at-15_08_54.png)
*A screenshot from a video showcasing the “Zmiy” ground drone.*

### Conclusion
The innovations and collaborative efforts from startups in Ukraine are not only **transforming mine clearance** but also **saving lives**. Each advancement in technology signifies a step towards a safer future for the Ukrainian people, illustrating the resilience and ingenuity of the nation in the face of adversity.

Editor’s Note: This story was sponsored by the United Nations Development Programme (UNDP) in Ukraine.

When a sapper with the call sign "Boroda" asked his friends, the founders of the Rovertech company, to create something for demining, and provided them with his own sketch, they seized on the idea.

Revolutionizing Demining: How Ukrainian Startups Are Cutting Clearance Time by Centuries

German air taxi manufacturer **Volocopter** has filed for **bankruptcy** in the Karlsruhe District Court, but the company remains hopeful about its future. Despite this setback, **Volocopter** is actively seeking new investors and aims to launch its **"Volocity"** air taxi by **2025**.

### Why is Volocopter in Trouble?

Based near Stuttgart, **Volocopter** is currently in need of **type certification** from the **European Union Aviation Safety Agency (EASA)** before it can officially launch its **two-seater Volocity** product line. The company has stated that it is proceeding with the assumption that it will find an investor in the coming year, despite the insolvency proceedings.

**Volocopter** has reported that **business operations will continue as normal** during this provisional insolvency phase. The company is nearing the completion of gaining approval for **Volocity's all-electric vertical takeoff and landing technology**. The provisional insolvency administrator, **Tobias Wahl**, emphasized the necessity of financing to take the final steps toward market entry, with plans to develop a restructuring concept by the end of February.

Unfortunately, **Volocopter's** progress was hindered when it had to cancel test flights during the **2024 Paris Olympic Games** due to delays in receiving the **aircraft engine certification**. As of December, the company reported that the **Volocity model** had met **75%** of the certification requirements, and they are also working on a **five-seater model** set to debut in **2027**.

### Competitor Back from the Brink

In a recent turn of events, **Lilium**, another German electric plane pioneer, was rescued from insolvency by the **Mobile Uplift Corporation consortium**, sparking discussions about the support available for startups in Germany. 

![Volocopter: Electric in the air](https://hlsvod.dw.com/i/vps/webvideos/ENG/2023/BUSI/BUSIENG230718_QWIVolocopterWEB_01SMW_,AVC_512x288,AVC_960x540,AVC_1280x720,AVC_1920x1080,.mp4.csmil/master.m3u8?__cpo=aHR0cHM6Ly9obHN2b2QuZHcuY29t)

Fledgling German air taxi maker Volocopter has declared insolvency as it seeks new investors. However, the company still hopes to break onto the market in 2025 with its "Volocity" vehicle. 

Volocopter's Flight to Recovery: Can the German Air Taxi Startup Soar After Bankruptcy?

Nvidia has successfully completed its **$700 million acquisition** of Israeli AI startup **Run:ai**, which specializes in optimizing **artificial intelligence workloads**. This strategic move aims to enhance Nvidia's AI-oriented product offerings and improve the utilization of **GPU resources** in high-demand computing environments.

### The Importance of Run:ai's Technology
Run:ai is renowned for its software that facilitates the virtualization and orchestration of AI workloads, a crucial capability for efficient GPU allocation. Nvidia plans to integrate this technology into its **DGX Cloud system**, providing businesses with enhanced options for managing their AI workloads.

### Regulatory Approval
Earlier this month, regulatory barriers were cleared when the **European Commission** determined that the merger would not impede competition within the AI and GPU markets, granting it full approval. The **U.S. Department of Justice** also examined the acquisition, focusing on Nvidia's influence in the AI industry.

### Aiming for AI Ecosystem Dominance
As Nvidia continues to broaden its array of AI-driven products, this acquisition aligns with its overarching strategy to dominate the **AI ecosystem**, which encompasses hardware, software, and cloud-based systems. However, the specific financial details regarding the integration of Run:ai's operations into Nvidia's framework remain undisclosed.

### Maintaining Competitive Edge
This acquisition is viewed as a calculated step to ensure Nvidia retains its competitive advantage amid the growing demand for AI technology across various sectors.  

This article first appeared on [GuruFocus](https://www.gurufocus.com/news/2642198/nvidia-completes-700-million-acquisition-of-ai-startup-runai?r=caf6fe0e0db70d936033da5461e60141).

Nvidia completed a $700 million acquisition of Israeli AI startup Run:ai.

Nvidia's Strategic $700 Million Bet on AI: The Acquisition of Run:ai Explained

## VCI Global Expands Its AI Horizons

**KUALA LUMPUR, Malaysia, Dec. 30, 2024** – VCI Global Limited (NASDAQ: VCIG) has made headlines by investing in **Marvis Inc.**, a pioneering startup specializing in **advanced digital clone AI technology**. This strategic move was executed through a **Simple Agreement for Future Equity (SAFE)**, allowing VCI Global to acquire equity in Marvis during its next financing round, which is currently capped at a **valuation of US$30 million**.

## The Vision Behind Marvis

Founded and led by **Masaaki Hatano**, a serial entrepreneur renowned for his success with DFA Robotics KK, Marvis is at the forefront of **automating routine tasks** through its proprietary AI models. These **AI digital clone agents** not only enhance productivity but also allow users to focus on more strategic initiatives, driving innovation across various sectors.

## Strong Support from Industry Giants

Marvis has garnered attention from notable advisors including **Google LLC**, **Intel Corporation**, and **IBM Corporation**, alongside **Techstars**. The company is set to **list on NASDAQ in 2028**, targeting a market capitalization of **US$20 billion** while currently raising up to **US$5 million** in its seed funding round.

## The Growing Market for AI Agents

According to **Markets and Markets**, the global AI agents market is projected to exceed **US$55 billion by 2030**, with an impressive **CAGR of 45%** from 2024 to 2030. This growth is fueled by the increasing demand for automation and advancements in **Natural Language Processing (NLP)**. Marvis positions itself as a cost-effective alternative to traditional **Robotic Process Automation (RPA)** solutions, bolstered by partnerships with **Toshiba Tec Malaysia**, **Hitachi Global**, and **NTT Data Group**.

## Transforming the Future

Masaaki Hatano states, “**This is just the beginning for Marvis**. The AI agents are set to transform the world, empowering humanity to break free from both digital and physical tasks.” Dato’ Victor Hoo, the Group Executive Chairman of VCI Global, emphasizes their commitment to leading in the **AI agents** industry, with **2025** marked as the pivotal year for innovation.

## About VCI Global Limited

VCI Global is a diversified holding company based in Kuala Lumpur, operating across five key sectors: **Capital Market Consultancy**, **Fintech**, **Real Estate**, **AI & Robotics**, and **Cybersecurity**. The company is dedicated to fostering innovation and delivering exceptional value, establishing a strong presence across the **Asia-Pacific**, **United States**, **Europe**, and the **Middle East**.

KUALA LUMPUR, Malaysia, Dec.  30, 2024  (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global,” or the “Company”), today announced that its...

VCI Global's Game-Changing Investment in Marvis: The Future of AI Agents Unveiled

![Squid Game dancers](https://specials-images.forbesimg.com/imageserve/67723d94e8fba83dc6a5ace7/Squid-Game-dancers/960x0.jpg?fit=scale)

**Healthcare experienced its own version of Squid Game in 2024.** The year saw many prominent digital health companies falter, yet the sector remained a focal point for investment and innovation. Here are key observations from this tumultuous year:

### The Power Of Patience And Persistence
Almost anything worth doing in healthcare is hard and will take **twice as long** as you think. Startups often underestimate the **power of incumbency** and the regulatory friction they face. True success in this space is rare and often measured more by **patient impact** than profitability.

### You May Have No Idea What Really Happened
If it looks too good to be true, it likely is. Many investors are unaware of the **real story** behind their so-called successful investments, which might be worth mere pennies today, illustrating that **all that glitters isn’t gold**.

### Fraud Is Normalized And Masked
Some healthcare ventures resemble **get-rich-quick schemes** with shaky economics. Unsound valuations and falsified numbers are commonplace, often hidden by **nondisclosure agreements**. The cycle continues as no one benefits from revealing the truth.

### Some “Experts” Aren’t Experts
Beware of **expert bias**. Just because a renowned company backs a startup doesn’t mean it has sound fundamentals. Always investigate claims and don’t take things at face value.

### Failing And Winning
Founders can financially succeed even if their companies fail, thanks to subsequent funding rounds. This trend distorts the venture model, rewarding founders prematurely and undermining accountability.

### So What Exactly Is It That You Do?
If a company’s purpose remains unclear after prolonged exposure, it’s a red flag. Focus on **depth** over breadth is essential; companies attempting to do everything often lack maturity and clear vision.

### McDonalds or McDowells?
Many so-called innovative companies are merely **copycats** of previous models. The healthcare sector often forgets its history, leading to repeated mistakes under a new guise.

### Beware The Arrogant Outsider
Experience in healthcare is crucial. **Arrogant outsiders** may promise innovative solutions but often lack the necessary humility and patience to navigate the complexities of the industry.

### Not My Problem Anymore
Large companies often make poor strategic acquisitions, leading to long-term struggles for successors. These decisions frequently lead to **after-the-fact finger-pointing** without accountability.

### I Have No Idea What You’re Selling, But I Like You
With the influx of new trends like AI, buyers often struggle to make informed choices, relying more on **industry relationships** than the actual offerings.

The turbulent landscape of healthcare entrepreneurship is likely to continue into 2025, with the eerie soundtrack of ongoing challenges playing in the background.

The year 2024 saw a lot of hot healthcare companies stumble and fail.  A series of observations on the landscape of healthcare entrepreneurship.  

Is Healthcare Entrepreneurship the New Squid Game? Insights from 2024

Looking for **Kickstarter grants** to kickstart your business? Finding and applying for business grants can be challenging for both new and established businesses. **Startup grants**, in particular, can be tough to locate, and the application process often feels long and tedious. To make things easier, **GrantWatch** has compiled a list of **10 Kickstarter grants** for startup businesses, carefully curated from nearly **200 Entrepreneurs and Startups Grants**. This resourceful list is designed to help reduce the stress of searching for startup funding and get you one step closer to achieving your goals!

### Kickstarter Grants

1. **[Tech Startups to Participate in a Business Development Program](https://108.181.90.163/grant/199260/opportunity-for-usa-canada-and-international-tech-startups-to-participate-in-a-business-development-program.html)**: Opportunity for tech startup companies in the insurance industry to participate in a business development program. Participants receive cash investments, networking opportunities, coaching, mentorship, and office space.

2. **[Start-Ups Led by Military Veterans](https://108.181.90.163/grant/206648/grants-and-in-kind-support-to-usa-start-ups-led-by-military-veterans-for-assistance-in-business-establishment-and-expansion.html)**: Grants and in-kind support to military veteran-led startup business ventures. This program helps veteran entrepreneurs successfully build their businesses with support in strategic planning, operations, introductions, networking, and staffing.

3. **[Mobility or Sustainability-Related Startups](https://108.181.90.163/grant/209372/opportunity-for-usa-mobility-or-sustainability-related-startups-to-participate-in-a-business-accelerator.html)**: Opportunity for startups focused on mobility or sustainability to participate in a business accelerator, receiving funding, mentorship, connections, and a chance to showcase their product.

4. **[Early-Stage Jewelry Designers](https://108.181.90.163/grant/188787/grants-and-in-kind-support-to-usa-early-stage-jewelry-designers-for-activities-to-promote-business-development.html)**: Grants and support for jewelry designers to promote business development, including merchandise, feedback, and industry recognition.

5. **[Start-Ups to Participate in an Entrepreneurial Program](https://108.181.90.163/grant/158761/opportunity-for-upstate-new-york-start-ups-to-participate-in-an-entrepreneurial-program-and-qualify-for-funding-and-in-kind-support.html)**: Start-ups can qualify for funding and receive mentoring and business development consulting services, along with free coaching and resources.

### Additional Kickstarter Grants

6. **[Agricultural Startups Business Development Program](https://108.181.90.163/grant/203648/opportunity-for-usa-canada-and-international-agricultural-startups-to-participate-in-a-business-development-program.html)**: Opportunity for agricultural startups to participate in a business development program with weekly instructional sessions and coaching.

7. **[Business Advancement Accelerator Program](https://108.181.90.163/grant/211728/opportunity-for-usa-canada-and-international-startups-to-participate-in-a-business-advancement-accelerator-program.html)**: Startups can join this accelerator program to advance their company with access to consultations, networking, and a demo day.

8. **[Startup Companies to Advance Business Ventures](https://108.181.90.163/grant/135795/grants-and-in-kind-support-to-north-carolina-startup-companies-to-advance-business-ventures.html)**: $10,000 and in-kind support for startups to positively impact their ventures.

9. **[Accelerator Program Related to Women’s Health](https://108.181.90.163/grant/218005/opportunity-for-usa-canada-and-international-startups-to-participate-in-an-accelerator-program-related-to-women-s-health.html)**: Opportunity for startups to develop nutrition-based solutions addressing women’s health.

10. **[Black-Founded Startups](https://108.181.90.163/grant/201279/opportunity-for-usa-black-founded-startups-to-participate-in-a-business-accelerator-program.html)**: A business accelerator program specifically for companies founded by Black entrepreneurs.

### About GrantWatch
With over **8,500 grants** currently available, **GrantWatch.com** is the leading grant listing directory. Upgrade to a **MemberPlus+ subscription** to view full grant details, including eligibility and application information.

Looking for kickstarter grants to jumpstart your business? GrantWatch has kickstarter grants for startup businesses and entrepreneurs.

Unveiling Entrepreneurial Insights with Kris Munsch on Forward Ever

Summary:

Dive into Entrepreneurial Wisdom

Watch the Interview

Key Takeaways

Comments

Subscribe our newsletter to receive our daily digested news

ListMyStartup.app

Other Latest News

Unlocking the Secrets: 10 Emotional Triggers Behind Startup Failures and How to Overcome Them

Revolutionizing Demining: How Ukrainian Startups Are Cutting Clearance Time by Centuries

Volocopter's Flight to Recovery: Can the German Air Taxi Startup Soar After Bankruptcy?

Nvidia's Strategic $700 Million Bet on AI: The Acquisition of Run:ai Explained

VCI Global's Game-Changing Investment in Marvis: The Future of AI Agents Unveiled

Is Healthcare Entrepreneurship the New Squid Game? Insights from 2024

Unlock Your Startup's Potential: Top 10 Kickstarter Grants You Can't Miss!

Other Latest News

Unlocking the Secrets: 10 Emotional Triggers Behind Startup Failures and How to Overcome Them

Revolutionizing Demining: How Ukrainian Startups Are Cutting Clearance Time by Centuries

Volocopter's Flight to Recovery: Can the German Air Taxi Startup Soar After Bankruptcy?

Nvidia's Strategic $700 Million Bet on AI: The Acquisition of Run:ai Explained

VCI Global's Game-Changing Investment in Marvis: The Future of AI Agents Unveiled

Is Healthcare Entrepreneurship the New Squid Game? Insights from 2024

Unlock Your Startup's Potential: Top 10 Kickstarter Grants You Can't Miss!