Work With Your Investor to Build Strategic Partnerships

The Sure Shot Entrepreneur

Steve Pretre, partner at World Innovation Lab (WiL), takes us on an extraordinary journey from his upbringing in Silicon Valley to becoming a key player in the insurtech and venture capital worlds. He shares the thrilling journey of starting Metromile and leading it through the IPO stage, highlighting some of the biggest challenges of starting an insurtech startup. Steve also dispels the skepticism about corporate venture capital firms (CVCs).

In this episode, you’ll learn:

[3:47] Discover invaluable lessons from the pioneers of the insurtech industry

[7:40] The story of Metromile: “I was excited and naive enough to think that we could pull that off.” - Steve Pretre

[15:43] Early-stage investing isn't just about funds but also about providing strategic support to startups

[22:40] Insights into corporate venture capital and why alignment of goals is paramount

[27:18] The importance of staying true to your business vision and not blindly following VC advice

The non-profit organization that Steve is passionate about: Woodside Wildebeests

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About Steve Pretre

Steve Pretre is a partner at World Innovation Lab. He is a veteran of multiple successful startups and has deep operating experience across product development, marketing, and strategic planning. Prior to joining World Innovation Lab, Steve was the co-founder and CEO of Metromile, an early innovator that paved the path for the current wave of insurance startups. He also held executive roles at Asurion, leading their mobile applications business unit as the company grew.

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About World Innovation Lab

World Innovation Lab is a venture capital fund supported by various governments and global corporations. WiL invests in companies looking to expand into new markets. They assist US startups in entering Japan and Asia and support Japanese startups in global expansion. Notable recent direct investments include Algolia, Asana, Automation Anywhere, Auth0, DataRobot, Kong, Mercari, MURAL, TransferWise, and Unqork. WiL also supports established and emerging venture funds. Additionally, they collaborate with corporate investors to enhance innovation through new business creation, startup partnerships, and cultural change. WiL acts as a bridge between startups and corporations in key innovation hubs globally, initially focusing on Japan and the US.
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