Return on Investment

By Tobin Vaughn

This story was published in the Summer 2023 Issue of SDSU Magazine.

While studying computer engineering at the University of Illinois, Andy Ballester got a job streamlining used car sales online. It was the early 2000s, and as he recalls, the work was a technological wonder at the time.
 
Back then, if a dealership had a computer, it was likely in an office where it was the only device connected to the internet, Ballester explained during a Zoom interview in March. “The ability to put anything online was magic — it was amazing,” he says. “I lucked out with what was really a startup job, being able to practice a software product on tech-timid audiences, which shaped a lot of my career.”
 
After a move to San Diego, Ballester landed a position at another startup. “That kind of set up my path for continuing the startup journey,” he says.
 
In 2008, Ballester and business partner Brad Damphousse launched a startup that they rebranded as GoFundMe. Within four years, it would gain recognition as a hugely successful charitable crowdfunding platform. Having generated billions of dollars for causes and projects, including those to support medical expenses, disaster relief, education, community building, creative initiatives and other projects, GoFundMe has become virtually synonymous with online fundraising.
 
Now, although he still sits on the GoFundMe board of directors, Ballester has moved on to many other enterprises helping various startups and their founders with product development and business growth. He also volunteers as a mentor. His latest venture involves an investment in a collaboration with San Diego State University.
 
IN OCTOBER 2022, SDSU announced a partnership with Techstars, a top startup accelerator network, to establish Techstars San Diego Powered by San Diego State University. Techstars supports many of the world’s best entrepreneurs with access to capital and mentoring, and helps startups find customers, hire talent and choose the right infrastructure.  
 
SDSU’s intent with the program is to boost the San Diego region’s innovation ecosystem by building a hands-on, mentorship-driven environment for startup founders and providing ways to approach industry-specific challenges. With a planned launch in September at SDSU, the program will ultimately be located in SDSU Mission Valley's 1.6-million-square-foot Innovation District, which is expected to be completed in 2026.
 
Ballester, who has a passion for creating products that drive change on a large scale, is serving as a mentor for Techstars San Diego Powered by SDSU. He is also gifting key funding alongside Ron Fowler, one of the university’s most significant donors and founding chair of The Campanile Foundation. 
 
“There is no place like the SDSU Innovation District anywhere in San Diego,” says Hala Madanat, SDSU vice president of Research and Innovation. “I think people like Ron and Andy, who have a vision, understand that.”
 
When the university asked local entrepreneurs what was missing in San Diego and how SDSU could serve to fill that gap, the top response was the lack of a tech-driven regional accelerator to attract startups from all over the world. According to Madanat, a majority of respondents interviewed specifically mentioned Techstars, including Ballester.
 
“Andy was one of the first to bring the idea of Techstars to the table, and he said he was willing to support it,” Madanat says. “From an SDSU perspective, this partnership puts us on the map as a leader in the entrepreneurship ecosystem. We welcome others who would like to join Andy and Ron in their philanthropic support of this important program.”
 
A CONTRIBUTING FACTOR to Ballester’s support of Techstars San Diego Powered by SDSU is his familiarity with the university and its expanding reputation as an entrepreneurial springboard. Having become involved with SDSU’s nationally recognized incubator, ZIP Launchpad, as a donor and a mentor over the past four years, he has seen first-hand how the university encourages entrepreneurial students.
 
“I love SDSU and what they’ve done to get students involved in entrepreneurship — giving them the option of doing that,” Ballester says. “I think the entrepreneur ecosystem they have is just stellar.”
 
Cathy Pucher, the executive director of ZIP Launchpad, is impressed by the level of experience and enthusiasm Ballester brings to the on-campus program. With his extensive knowledge, she says, he has something to offer entrepreneurs from any background, at any stage of their development and from any age group.
 
“Andy has faced a lot of challenges and overcome them,” Pucher says. “He has incredible patience, and his knowledge and passion make him an outstanding mentor.”

“These are the things I think about constantly in my work, and things I think we all need to work on at all levels philanthropically, entrepreneurially and in the public sector. We need to bring everybody together around those things.”

Twelve startups will be selected from what are expected to be hundreds of applicants from around the globe for the inaugural cohort of Techstars San Diego Powered by SDSU. Their progress will be presented during a demonstration day set for Dec. 7 at the program’s conclusion.
 
THE UNIVERSITY SIGNED a three-year contract with Techstars to form Techstars San Diego Powered by SDSU with available opportunities for donors to contribute by making a gift. What organizers hope will result from the program is wider exposure of San Diego’s entrepreneurial ideas and talent to the world and, conversely, a broader international influence to inspire solutions to San Diego’s challenges.
 
Ballester’s own entrepreneurship has a philanthropic bent. Through GoFundMe, he managed to drive an astonishing amount of positive impact. He hopes to achieve a similar result for his adopted hometown.
 
“I see homegrown startups looking for solutions to community equity and social justice problems a lot more than in some other places,” he says.
 
Ballester cites the climate crisis and housing as two overarching challenges deserving of greater entrepreneurial approaches.

An investment in Techstars San Diego Powered by SDSU, Ballester believes, is a great next step in achieving that.

Learn more about supporting TechStars San Diego powered by SDSU.