The Diligent Observer Podcast

Episode 47: "Friendly Competition" | The DEC Network's Bill Chinn on the Role of Angel Investors in North Texas, Healthy Ecosystem Rivalry, and Managing Type-A Personalities

• Season 1 • Episode 47

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Today's episode explores three ideas that caught my attention:    

  1. Ecosystem competition breeds innovation – The friendly rivalry between DFW Startup Week and Brad Feld's Denver Startup Week shows how healthy external competition is a wonderful thing. 
  2. “Who gets the credit” politics can kill momentum - Bill's observation that meetings about who gets recognition are meetings NOT moving deals forward crystallized why ego management matters so much in building thriving ecosystems. 
  3. Government pace requires some empathy - Bill's point about Type-A personalities wanting to "move off without" slow government partners really stuck with me. Go fast alone, go far together. 

I explore these ideas and more with Bill Chinn who leads the DEC Network, a 501(c)(3) nonprofit supporting entrepreneurs across the DFW area with particular focus on women founders and entrepreneurs of color. His career path spanning 20 years at GameStop, various entrepreneurial ventures, and nonprofit leadership, uniquely positions him to understand both the capitalist and collaborative sides of ecosystem building. As someone who witnessed Silicon Valley's collaborative culture firsthand during the 2000s boom, Bill brings a rare perspective on how healthy competition and nonprofit neutrality can accelerate regional startup growth. 

During our conversation, Bill shares: 

  • The hidden role of nonprofits as ecosystem neutral conveners - demonstrating how 501(c)(3) status creates unique credibility to push competing groups toward cooperation. 
  • Specific evidence of Fort Worth's rapid emergence as an entrepreneurship hub - backed by national rankings and mayor-level support that most investors are missing. 
  • The Silicon Valley collaboration model that worked during the 2000s boom - and how selflessness during fast-moving periods prevented credit politics from slowing progress. 

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Bill Chinn: [00:00:00] I mean, we love those guys down there, but why don't we get together as North Texas and see if we can get the same angel investment numbers in 2026 than they do in Austin 'cause we don't now, I mean, we should, I mean, we certainly got more money up here than they do in Austin, but yet we're significantly behind on angel investment.

So, let's focus on beating Austin. And it's gonna make Austin better and it's gonna make us better. And then maybe one day, we'll, we'll team together and try and beat Boston. But right now, the infighting here, we don't need any of that.

Now look, they're all about ROI and they should be all about ROI, but they also wanna give back to the community.

35-minute drive, get you home for dinner. Come on. It's not a bad deal. 

And the business community really for the first time, is really understanding the value of supporting entrepreneurs and angel networks.

You want to go far, you go as a group. If you wanna go fast, go by yourself.

Andrew Kazlow: Welcome to the Diligent Observer, where we help angel investors see what most miss. I'm your host, Andrew, and every week we explore what works, what doesn't, and why through conversations with experienced [00:01:00] startup investors and operators.

Speaker: My guest today is Bill Chinn, CEO of the Dallas Entrepreneurship Center, a nonprofit focused on supporting entrepreneurs across the Dallas-Fort Worth ecosystem. In this episode, we explore how Fort Worth is emerging as a major startup hub, discuss the surprising regional growth in healthcare and biotech investment through initiatives like Pegasus Park and hear, Bill's candid take on the role that angel investors play

in filling critical funding gaps for underserved entrepreneurs. I hope you enjoy learning from Bill as much as I did.

Andrew Kazlow: Bill, thank you for being with me today. 

Bill Chinn: Yeah, of course. 

Andrew Kazlow: Well. Bill I, you are standing in the middle of what is quickly becoming one of the most active entrepreneurship ecosystems in the country here in DFW.

And so, uh, thrilled to be able to sit down and hear your take, uh, on the, in the midst of DFW Startup Week, the 10th anniversary. I mean, just so much energy here in the room this week. I'd love to hear as a starting point, [00:02:00] what are some of the things that you're really excited about right now? 

Bill Chinn: Well, it's hard not to be excited about this event.

Right. Um, so as, as you mentioned, uh, 10th annual. This is the biggest one. I mean, so we're on track to have a record setting year here, and I, I think it just underlines— 

Andrew Kazlow: What's, what's our guest count to, to say big, what do you mean when you say this is the biggest effort? 

Bill Chinn: Well, so, so we're defining it, we're competitive, right?

And we're all capitalists around here. So, Denver has always had the biggest startup week. 

Andrew Kazlow: Yep. 

Bill Chinn: Startup Weeks, it's nationally regulated. So there's a way of kind of counting participants. It's pretty well scripted. And Denver always beats us, right? And you know, I, obviously, I'm very biased here, but I think, you know, we, we go first. So we tell Denver, here's our number, can you beat that?

And they're like, yeah, we can beat that. I wish it was reversed. Right. I would just feel easier to get to, to the number if we know what they do. But they do a great job. You know, Brad Feld, he's just an incredible ecosystem builder, does that, you know, out of Boulder. Um, but it's sort of Denver, Boulder. So again, I mean, our focus is really clear.

We'd like to be [00:03:00] number one. I mean, those are our friends and, and they've helped us a great deal. But yeah, we wanna beat 'em. 

Andrew Kazlow: And so, where, where are you seeing some of the most exciting activity? Like what are the things that are happening here, locally that maybe most people don't see or behind the scenes?

Bill Chinn: Yeah, look at mean, you know, obviously Dallas just being such a financial capital and just, you know, a long track record of, of really supporting entrepreneurism, you know, that, that gets a lot of press. But I think the new player in town is Fort Worth. I mean, this is the, the fastest growing major metro market in America.

They got ranked, uh, last year, number seven, best place to start a company. And they're really putting, um, a lot of effort into it. So, it's fun to watch DFW work a little closer together. Uh, and so that, that's something that's kind of new and, you know, Fort Worth. We have locations in Dallas and Fort Worth, uh, and we've had a location in Fort Worth for quite some time, but we've really outgrown it.

So we're, we're moving to a bigger [00:04:00] location on September 10th. But, the support we're seeing in Fort Worth is kind of impressive. The mayor's coming out to open that new center and the business community really for the first time. Is really understanding the value of supporting entrepreneurs and angel networks and, you know, they realize, it's a long horizon for them, but it's worth getting involved earlier.

So that, that's an exciting new development. 

Andrew Kazlow: Well, I, I wanna ask more about what's happening, but you mentioned something that ecosystem builders are excited about and to see the value in angel investors and in entrepreneurship ecosystems. What are some of the main Calculus that's going on behind the scenes as you're thinking about where to allocate resources, what organizations to support, right.

Angel investors, which is the primary composition of our audience. Very small percentage of the overall population. How are you thinking about activating that capital from an ecosystem level? How, what, what does the conversation look like? You know, behind closed doors when there's a million projects, a million things to think about, a million pieces [00:05:00] that are happening, like where does the angel investor fit in in your opinion?

Bill Chinn: The angel investors, I mean, there's a couple, couple ways to answer that. First of all, angel investors obviously are a really important part of the pipeline and an early part of the pipeline that becomes particularly important if you look at, um, entrepreneurs from the southern sector and for those of you outside it, southern sector of Dallas is kind of the undernourished, the underdeveloped part, and it's same if so Fort Worth.

It's the southern, southwest part of Fort Worth. And the angels are so important because some of the friends and family money of those creative entrepreneurs. It's not there. So the angels come in a little bit earlier. And it's important they do because those are really viable businesses that have great futures.

But if they don't get that early investment, I mean, we don't see those great ideas come to fruition. So, the angels increasingly are kind of filling that gap, um, which is really exciting. And yeah. Now look, they're all about ROI and they should be all about ROI, but they also wanna give back to the community. And what [00:06:00] shocks us is, you know, they're focused on investment, but they're also super generous in terms of, you know, judging pitch competitions in the southern sector of Dallas.

Mentoring organizations where the ROI is gonna be, you know, a decade away, but yet they're still doing it because they see it as, look, I used to be that person. And, you know, and now I'm trying to find the right investment, but I'm also trying to give back to the community. So, you know, we, we really love the angels because they're a little bit of mix of philanthropy.

And sometimes I don't think they even like that title. They're like, no, no, no. We're, capitalists. No. We're here to make money. Right. 

Andrew Kazlow: We're, we're not giving anything away. 

Bill Chinn: Yeah. I'm like, you can do both, man. I mean, you can get thanked for making a lot of money, man. What's better than getting thanked for making a lot of money? 

Andrew Kazlow: Well, it's fun to hear. I'm, I'm biased, right? This is all about helping angels grow, but I love hearing about the way that angels just contribute such a positive way to the ecosystem. However, these, these communities don't just form overnight, right? You don't just say, ah, I want an angel network, and then it's there, and now you have [00:07:00] a hundred members and it's super vibrant.

There is a way to force it, but I think my observation has been the DFW ecosystem has really been a slow burn and it's kind of matured slow and steady over the last several decades. Um, I'm curious, as I think as you have thought about this, what are some of the trends or things like, behind the scenes, like the slow moving, but intentional things that you and the DEC Network have done to help support and foster this robust ecosystem growth. 

Bill Chinn: Yeah. So mean, you know, because we're a 501(c)(3), we tend to come at it from a very collaborative point of view, and, and so we really encourage all the angels to get around the table.

I mean, if we're not fully funding these deals, why are we not, you know, really flexibly sharing this? And I think that's happening. I mean, you know, just next week I, I know HFIN out of TCU and NTAN, North Texas Angel Network and, and a couple of others. And I believe Cowtown [00:08:00] out of Fort Worth.

They're all getting together and they're having a joint, um, joint session. And that's what we really encourage. Is, you know, guys, let's get everyone around the table. Let's make this, let's get the admin costs lower. Let's make sure that the entrepreneurs have a good experience and a consistent experience with the angels.

Let's save 'em time. Why do they really need to come to four different meetings and the DFW area, can we make it two? And, and I think that, everyone's life gets easier when everyone collaborates and people aren't trying to. You know, like, I found a great deal. I'm trying to hoard it, but I'm not gonna fully fund it.

I, I mean, There's not a lot of logic in that. And so we're seeing a, a ton more collaboration and, us along with a lot of great, 501(c)(3)'s, we can sit at the table and no one's sitting there thinking, well, how are you making money on this? Because we're not, right. Yeah. I mean, that's not our mission.

Um, and so we have enough credibility to say, Hey, come on guys. Let's do this all together. Everyone wins when we work together and it's working. I mean, they see the logic of that. We're seeing a lot more collaboration. 

Andrew Kazlow: I feel like [00:09:00] ecosystem building ecosystem growth is just such an overwhelming topic.

It's hard enough to evaluate one deal, right? Is this a good investment? But to think about all the moving parts, all the different stakeholders, all the pieces at play in building and shaping ecosystems, I mean, it's just overwhelming to me. I'd love to hear a little bit more about. Your story, kind of how, how you came into this seat and what are some of the things that have really impacted you over the last, you know, six, seven years in your current role?

Bill Chinn: Yeah, I really biased here, but you know, I think 501(c)(3)'s, the true nonprofits have a, have a role to play in the ecosystem. Now, they can't lead everything because, you know, you really need this capitalist flavor. 

Andrew Kazlow: Mm-hmm. 

Bill Chinn: And you really need the culture of of business to, to kind of take the forefront.

But at the end of the day, it takes a lot of people to sit at the table. I mean, the universities have to be there, the ecosystem builders, the government has to do there. And really importantly, corporations have to be there. And so, we see our [00:10:00] role as kind of getting everyone around the table, not coming up with all the great ideas that make it a wonderful ecosystem, but just getting the right people in the right room.

And then frankly, we get out of our league pretty quick. 'Cause I mean, they're, they're the great organizers and you know, titans of industry and, and to have all the resources. And our role is to get 'em in a room consistently enough that, they hit the deadlines. And, and they stick to the plan.

That's something that I think's happening a lot in DFW more so. I mean, you know, we see our, our friends in Austin and, particularly Silicon Valley, I mean, back in the 2000s, I was lucky enough to live out there and, and, and to watch how they all came together.

If there was one way I would describe it was you know, a selflessness, I mean, they were almost back in those kind of heydays of Silicon Valley. Everyone was so busy. No one had time for politics, no one had time to worry much about credit. I mean, there were some exceptions to that, but it was just so fast moving that it was kinda like, you know, you got to the end of your day and you laid your head on a pillow and you're like, did you [00:11:00] worry about credit?

I didn't have time to worry about who got credit for. We just, and tomorrow we're gonna wake up no one has time to worry about politics. 

Andrew Kazlow: What do you think are some of the biggest slowdowns or biggest restraints on this flourishing ecosystem? Right? It's, you come to events like this and you, you feel it.

But what are some of the things that you feel like really inhibit the growth of an ecosystem like this? 

Bill Chinn: Yeah, I mean, so, so the, the, the personalities that tend to do really well in ecosystems, you know, A-type, not a lot of patience, I mean, and all the good things that come with that, but all the bad things too.

And you have to get everyone involved. Like, you know, government is a great example. Not only do you have different strategy plans and philosophy changes you get in any organization, but then you have these elections come along and everything changes. So everyone, yeah, everyone sits there and says like, you know, the government's really tough to, to get, to be consistent, uh, and be at a consistent partner and you've got a bunch of captains industry sitting around table and they just don't wanna wait [00:12:00] for, for them to catch up.

And I'm like, you know, a little bit of patience is appropriate here because, you know, they do bring a great perspective. They do bring a ton of resources. And it's worth being patient and letting them catch up. And it's not because the folks who are doing that don't wanna move faster or don't understand that the slowness is holding everyone back.

They do and they hate it, but at the end of the day, they're constrained. So, just having a little empathy for their world and realizing if you move off without them, I just really tried to say, but you know, you want to go far, you go as a group. If you wanna go fast, go by yourself.

You know, and it's, It's managing those really, typical personalities in the same room and just getting 'em to kind of get to the same wavelength and a little, you know, you're not gonna change anyone's pace— 

Andrew Kazlow: But easier said than done. 

Bill Chinn: Yeah. Right, right. No one's gonna change their pace just for us, but we can maybe make 'em a little more patient and, and just a little more empathy for all the people around the table.

Andrew Kazlow: Yeah. So, so it sounds like kind of a key thing that can, can [00:13:00] slow down growth is this misunderstanding or misaligned timelines, expectations, just like any good marriage. Right. Having good expectations, right expectations is, is helpful. What else would you say is like, tends to muck up the, the progress.

Bill Chinn: Well, I mean, and I go back to, to one of the themes is, I mean, if you, if you spend time worrying about who's gonna get credit, I mean, you just, you know, you, you're having a bunch of meetings around politics and credit. I mean, those are meetings that you could have used to move the ball forward.

And, and you know, when things go well, there's usually plenty of credit to go around. And, you know, people are smart. I mean, they kind of know who did it. Even if you know, you're not yelling from the rooftops, Hey, I did that, I did that. People usually figure it out in the long run. So, you know, anytime wasted on that, it's just like, that's energy that could have been spent propelling the system for it.

Andrew Kazlow: Yeah, I love that. Okay, so it all comes back to people, it goes back to relationships, good expectations, Okay, so I wanna talk a little bit more about some of the themes that you're seeing grow in ecosystem, [00:14:00] particularly industry or sectors that are getting quite a bit of investment. Um, Dallas, as you mentioned has this Dallas Fort Worth more broadly has this this perception, I think across the ecosystem as you know, the high finance space, right?

We have the, the Texas Stock Exchange launching soon, right? Lots of innovation in the, the finance, FinTech space. What are some of the other categories or, or sectors that are thriving, growing, really accelerating here locally that most of us wouldn't think about. 

Bill Chinn: Yeah. So, you know, biotech, healthcare, I mean, that, that's an area that's, that's really particularly in the last three to five years is really blown up around here, and that's got really, really exciting.

But, you know, I think this DFW market tends to be pretty broad and in its, and that's a good thing. The focus is useful, but also that ability to kind of bring everyone into it, and, and be able to have the flexibility of dealing with all these different ideas from all these different industries.

But to answer your question, I would say definitely healthcare and, and [00:15:00] biotech might be the thing that people would be surprised about in this very traditional financial market. 

Andrew Kazlow: What are some of the markers for that, like healthcare, biotech, you know, that's pretty broad. Gi gimme a little more tactically some of the examples or the, projects that are behind that. 

Bill Chinn: Yeah. So I mean, the, the one that's been amazing is, Pegasus Park. And, you know, that was sort of a, a biotech slash nonprofit center where, you know, you get some amazing real estate people in Dallas and they said, look, why don't, why don't we get this building? Why don't we discount some of the around, let's get all the nonprofits in the same four walls and let's get, you know, a real focus on biotech in this building.

And so, you know, there's no doubt. Where, where do you need to go if you're interested in nonprofits in Dallas, and where do you need to go if you're interested in biotech? So I'm not sure why those two things ended up in, in that for a while, but that has been a tremendous success. Uh, and Pegasus Park is really vibrant center.

I'm there all the time. I mean, a lot of meetings happen there, a lot of events that, that's been a tremendous [00:16:00] success. 

Andrew Kazlow: And maybe say a little more about, uh, about Fort Worth. Cowtown is, you know, often. not the, the first thought. Right. Dallas is kind of the first thought, but you mentioned Fort Worth is really accelerating their investment and innovation, entrepreneurship, all of that.

Say a little bit more about what that means, how you're seeing that. 

Bill Chinn: Yeah, I mean it's, you know, I told a little bit my, I mean, I, came out from the Bay Area and, um, and so a lot of people call me up and they say like, you know, I, you know, our VCs gonna put, put something in, um, DFW and uh, you know, we're thinking about Ross Avenue Dallas.

And I'm like, yeah, no, that's great. But you know, don't forget about Fort Worth. It's 35-minute drive and, and there's some really interesting stuff going on there. And then you talk to 'em two years later and they're flying off to Boston and I'm like, what? What do you hate your kids? I mean, you don't wanna be home for dinner.

Why don't you just drive 35 minutes west to Fort Worth? But you know, I mean, you know this, I mean, VCs tend to aggregate. I mean, they like their antique grandfather clocks and. So they, they want to be around each other. And I get it. I mean, I think they do benefit a lot from aggregating, but at the [00:17:00] same time here, the challenge for us is, getting them to just come west to Fort Worth where there's a lot of opportunity.

Um, but, you know, people get habituated, right? I mean, they, they're used to flying to Boston and back to Silicon Valley. We're trying to convince them that, you know, 35-minute drive, get you home for dinner. Come on. It's not a bad deal. 

Andrew Kazlow: It's a good pitch. It's a good pitch. Yeah, it's been exciting to see, uh, the growth and activity in, Fort Worth as well.

Alongside, I know Cowtown Angels has grown tremendously over the years and has been great. Active partner for NTAN and, and the other groups in town. Final thoughts that you would leave with our angel investor audience? What's happening in DFW, their role? Any words of wisdom, lessons learned? What would you leave our audience with?

Bill Chinn: Yeah, I don't know. Words of wisdom. I, it's, you've got some— 

Andrew Kazlow: Words of wisdom. 20 years of GameStop, you know, a decade in this space. 

Bill Chinn: Yeah. I, I think, you know, focusing on the collaboration part of it, right? It's just, you know, we tend to think, you know, oftentimes we deteriorate in arguments about whether it's Fort Worth-based or it's Dallas-based.

And you know, I like to [00:18:00] reset that context and say, you know, let's look at what Austin's doing. I mean, they, they have done an incredible job in Austin. I mean, really tremendous. And think some of that friendly com, like we like here for this event. We have friendly competition with Brad Feld and his folks in, in Denver.

And it really is friendly, but we, we wanna win. And so we get creative and, we start doing something different every year. See if we can't beat Brad. I mean, that's a, that's a very American healthy tradition. 

Andrew Kazlow: I telling you said that. Yeah. Right. 

Bill Chinn: Yeah. Tell him I said yeah. But you know, and I think that oftentimes instead of focusing like, you know, is this gonna go to Plano or is it gonna go to Arlington or for, is it, you know, let's focus on Austin.

I mean, we love those guys down there, but why don't we, why don't we get together as North Texas and see if we can get the same angel investment numbers in 2026 than they do in Austin 'cause we don't now, I mean, we should, I mean, we certainly got more money up here than they do in Austin, but yet we're significantly behind on angel investment.

So, you know, I, I don't know if it's a word of wisdom, but man, let, let's focus on beating Austin. And it's gonna make Austin better and [00:19:00] it's gonna make us better. And then maybe one day, we'll, team together and try and beat Boston. But right now, the infighting here, we don't need any of that.

Andrew Kazlow: Well, Bill, this has been an honor. Thank you for taking a few minutes out of the midst of a wild 10 year anniversary, DFW Startup Week to sit down with me and, and speak with our audience. Uh, I look forward very much to our next conversation. 

Bill Chinn: Yeah, thank you. Thank you for the time.

Andrew Kazlow: Thanks for listening to this episode of The Diligent Observer. I'm your host, Andrew, and if you're an angel investor looking for essential angel intel in five minutes every week, I think you'd enjoy my newsletter. I send my best stuff, interesting deals, and more straight to your inbox so you never miss a thing.

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