Founding of Ankord Labs

Maybe it’s just anecdotal, but it feels like the tech industry has slipped into a ‘funding winter,’ doesn’t it? Just a couple of years ago, startups blossomed across all industries and venture funding was plentiful. In 2024, a more restrictive landscape has left many entrepreneurs and visionaries hesitant to build, even as AI opens entirely new paths for innovation. The renegades who leap into entrepreneurship today face a more competitive environment than ever before. 

Ankord Labs is a Venture Studio, built by founder and CEO Milan Kordestani to accelerate, incubate, and support impact-driven entrepreneurs, startups, and nonprofits. The Ankord Labs team has been working together for the past several years, helping to build impactful startups in the fields of education tech, career tech, journalism tech, music, and AI.  Driven by the values of conscious capitalism, Ankord Labs focuses on bringing together the right people, resources, and strategies to turn groundbreaking concepts into solutions that not only disrupt industries but also leave a positive, lasting impact on the world.

Milan's College Startups: An Unconventional MBA

Ankord Labs began, not as an idea, but as a solution to a young entrepreneur’s momentum. Eager to start building businesses as a teen, founder Milan Kordestani ’s initial ventures grew from his love of nature, leading him to sell a curious mix of turtles, saffron, and eggs. His passion for building his own businesses from scratch encouraged him to explore the entrepreneurial process further. Thus, when the academic corridors of his college experience failed to inspire Milan’s imaginative energy, he found refuge in the founding of three startups, marking a seminal phase in his burgeoning entrepreneurial saga. These ventures were not mere experiments; they were the embryonic forms of the companies that would later grow under Ankord Labs' management.

Dormzi was Milan’s first foray into the realm of startups: a double-sided marketplace specifically designed to connect college students seeking services with peers eager to offer them. Frustrated after witnessing the struggles of classmates to tap into the freelancing world, Milan and his Dormzi co-founder, Sabine, focused the company on helping students promote skills directly to their consumers. Initial traction was promising, a testament to the identified need, but the skills of the students were lacking, thus failing to create a true marketplace. The Dormzi team, while enthusiastic, grappled with defining a concrete direction and crafting a product that delivered truly unique value to both sides of the marketplace. As the company struggled to find product-market-fit, the experience provided Milan with invaluable lessons that he carried forward to Ankord Labs: lessons about identifying paying customers at the beginning, focusing on rapid prototyping, and the crucial importance of product-market fit before launching a product to market or trying to scale.

Also while in college, music became more than a passion for Milan: it became a family business. Teaming up with his sister Misha, they dove headfirst into co-founding Guin Records – a label defying the industry norm by empowering artists with both creative and financial control over their work. The siblings took to the business like penguins to water, their enthusiasm undeniable. The label quickly garnered respect for its focus on high-quality, socially-conscious hip-hop, nurturing talent with a personalized touch where every artist is treated as a member of the family. One of Guin’s unique innovations is a back-end music marketplace of distributors, where Guin hand selects the perfect distributor for each artist depending on the artist’s particular stage, strategy and goals. Guin also broke new ground in prioritizing musician well-being, from mental health services to friendly funding terms: all of Guin’s artists own their own masters. Navigating the oversaturated terrain of music production and distribution became its own crash course for Milan and Misha. Despite the hurdles, Guin Records established itself as a beacon of artist-centricity, a testament to the team’s commitment to both creative expression and sustainable success. 

The third startup Milan founded while in college was The Doe – a digital publication for anonymous, vetted narratives. Driven by a desire to crack through the cacophony of echo chambers and cultivate consensus on difficult social problems, The Doe’s team published stories from a variety of perspectives, offering an alternative to mainstream news. Here, vulnerable voices could share their first person truths, confronting readers with diverse perspectives on socially important topics. Their bravery resonated, captivating thousands who sought connection and empathy beyond their usual information silos. The Doe flourished, curating high-quality stories that built bridges across divides. Yet, the media landscape remained unforgiving. The conscious decision to eschew ad revenue, while upholding journalistic integrity, presented a formidable financial hurdle for the young Doe. Milan continued to fund and expand The Doe because of his unwavering belief in the power of shared stories to spark empathy and understanding, a cornerstone he would carry forward into his own work as a writer and journalist.

Stepping Back to Scale Up: Milan's Leadership Evolution

With college graduation and the transition to full-time entrepreneurship, Milan now found his attention all the more divided between these three companies. It became more and more difficult for Milan to ignore investors and advisors who cautioned him against splitting his time as a CEO across multiple fronts. Forced to confront these challenges, Milan realized the necessity for a more sustainable and comprehensive approach to accelerating growth at the startups he was building. This critical juncture prompted a period of introspection – a soul-searching expedition aimed at unraveling the essence of his drive as an entrepreneur. 

In that process of self-discovery, Milan acknowledged his unique position: born into the legacy of a tech tycoon, he found himself bestowed with resources and opportunities that few entrepreneurs could fathom. Milan, raised with a strong immigrant and community ethic, saw his good fortune as profound responsibility. His blessed background motivated him to be solution-oriented, hoping to promote positive change for his generation by building companies that benefited others and added value to society. But this burning desire to address pressing problems had inadvertently led to a diffuse focus with Milan taking on more opportunities than could be effectively managed. The answer lay not in a mere pivot but a paradigm shift – a recognition of the latent collaborative potential within his teams, and a decisive pivot towards incubating startups directly.

Simply put, he needed a way to not only expand his capabilities, but to pick up skills and expertise needed to lead his startups successfully. In the crucible of that realization, a transformative decision allowed him to maintain his momentum at all three of his companies– the establishment of a support system he called Ankord Labs that would not just sustain but elevate his entrepreneurial endeavors to new heights. Milan, with a discerning eye, handpicked a small team of individuals full of drive and creativity, each bringing a unique set of skills to fortify his efforts. This strategic move was designed to exponentially amplify Milan’s capabilities, allowing him to wear more hats than one person ever could alone.

Beyond a First Check: Ankord Offers Founders a Holistic Support System

At the center of this process was Milan’s trusted human resources specialist, Sam Evans, adept in the fine art of identifying top-tier talent, managing executives, and navigating companies from inception to their maiden investment. Complementing Ankord’s HR guru was its renegade product development expert, Dr. Chloe Mulderig, a virtuoso in translating founders' visions into tangible prototypes and products. Her role extends beyond mere product development, bringing ethnographic training to direct her meticulous market analysis and qualitative research – a nuanced approach designed to drive designs that were not just user-centric but human-centric.

When Ankord’s startups needed branding, strategic PR campaigns, or social media channels buzzing with engaging content, Ankord's marketing swiss army knife, Joshua Peters, wielded a diverse skill set that encompassed brand storytelling, strategic media outreach, and the art of crafting viral social content.  Rounding out the team were several financial, legal, and fundraising subject matter experts, each contracted to strategically align with the needs of the startups being served. Depending on the level of Ankord investment, Ankord’s incubated founders also gained access to management guidance, executive coaching, networking, and more. 

Ankord Labs, thus, was conceived, not as a singular vision but as a collective manifestation of the energy and creativity necessary to solve the pressing problems of today through purposeful startups: simply put, Ankord Labs increases the surface area of luck for startups. The journey from individual pursuits to a collaborative enterprise was made possible by the strategic choice of new leadership helming each startup. Today, Ankord Labs accelerates and incubates several successful startups, amplifying a vision of purposeful capitalism oriented toward solving real world problems in both the short and long term. In the midst of a VC winter, Ankord Labs helps dynamic founders weather the storm and grow in even the harshest of conditions.

Pivoting with Purpose: Audo’s Quest for Product Market Fit

Dormzi, Milan’s first venture, required a metamorphosis of its own. The double-sided marketplace, though ultimately falling short as a product, proved fertile ground for an even more ambitious idea. The Ankord Labs team supported Milan in identifying two new co-founders within the company, EdTech visionary Ahmad Elzahdan and innovative CTO Andrew Jensen, each possessing a passion for helping people identify and affordably fill the missing components to reach their dream career. Audo aimed to be the ultimate destination for those who are unemployed or underemployed and willing to invest time in learning new skills as a means to reaching their ideal job. This time, AI became the accelerant, a tool to identify individual skill gaps, curate personalized learning paths, provide interview preparation, and guide users through successful job searches. Building Audo required not just passion, but technical wizardry. Breaking new ground in AI development in 2021 while taking on the Goliath of the educational industry was no easy feat. Yet, despite the team's dedication and a demonstrably powerful product, the elusive grasp of market fit continued to pose a challenge. Audo's journey, much like Milan's own, would be one of constant iteration, a testament to his unwavering belief in the power of innovation to empower individuals and redefine industries.

Now two years since Milan passed the reins of Audo to its other co-founding architects, the company has blossomed into a thriving career management hub, its success measured not just in user numbers but in the transformative impact in employing the unemployed. They've set their sights on a noble mission, helping people identify and reach their dream careers. Audo balances private funding with government grants, aiming to unlock upskilling and career opportunities for those often left behind. With Ankord Labs’ support, Audo found strong product market fit by working with individuals in halfway houses, on probation, and even incarcerated; the company is equipping those who are neglected with the tools to reimagine their futures. This focus on social impact fuels the relentless drive of the Audo team, propelling them to continuously expand the capabilities of Audo's AI, ensuring it remains a beacon of hope and opportunity for all. Audo's journey, much like Ankord Labs’ own, is a testament to the power of evolution, collaboration, and the unwavering pursuit of purpose – a spirit that continues to shape its future and inspire its mission.

Empowering Independent Artists: Growing Guin Records 

At Guin Records, the Ankord Labs team took a different approach: empowering and uplifting existing executive leadership, while ideating new opportunities to revolutionize how the record label could scale revenue and music output. Through targeted executive coaching, company restructuring, and the addition of new advisors, Ankord Labs was able to help unlock Misha's full potential, equipping her with the confidence and diverse skill set needed to thrive in the rapidly evolving landscape of the modern music industry. The results speak for themselves. Misha has emerged as a powerful woman executive, shattering conventional practices and setting a new standard for artist-friendly music funding in the industry. Her success is a testament to the transformative power of tailored support and a reminder that true progress requires not just innovative ventures, but the empowered individuals who guide them. The label hosts a stable of talented artists, and has expanded its voice in the industry through its newsletter and podcast. In 2024, Guin Records aims to release 100 singles across various genres, from Farsi music to electronic, hip hop, and R&B. 

The Doe’s Evolution: Nota, AI, and Rethinking the Media Toolbox

While The Doe continued to garner acclaim for its empathetic storytelling and commitment to diverse perspectives, the harsh reality of the media landscape loomed large. As it watched bigger competitors like Vice and Vox hemorrhage money despite their reach, The Doe’s team clung fiercely to its values, refusing to sacrifice journalistic integrity for the almighty dollar. This tightrope walk, though admirable, presented its own difficulties. Milan, ever the innovator, championed a tech-driven pivot, proposing AI-powered reading habit analysis, a dedicated news aggregator and bias rebalancing to navigate the turbulent digital sea. Yet, The Doe team, accustomed to the nuanced world of storytelling, struggled to embrace this new course. Milan eventually found himself caught in an echo chamber of his own vision. The realization dawned on him – The Doe needed a different captain, one with a deep understanding of the publishing world and a steady hand to navigate its unique challenges. In letting go, Milan admitted a truth many entrepreneurs often struggle with: sometimes, the best leadership requires knowing when to step aside and bring in the right co-pilots.

Recognizing the need for a different approach at The Doe, Ankord Labs brought in Josh Brandau, a seasoned veteran from the LA Times, to take over as CEO. Together, Josh and Milan envisioned a bold leap – transforming The Doe into a multifaceted media streaming service. But the duo soon realized that they faced the same problem that so many media companies do: the lack of efficient tools for affordable multimedia content creation. Undeterred, they pivoted and co-founded Nota, a new tech company built on the twin pillars of Brandau’s belief in quality journalism and Ankord Labs' experience in incubating AI-powered startups. Nota's mission was clear: empower publications to create high-quality video and multimedia content, efficiently and affordably, so they can focus on real reporting, not content generation. Nota's intuitive tools translate text and articles into engaging video, social media content, and more, turning the once formidable task into a seamless experience. Recognition soon followed, with Microsoft offering support through their Accelerator program and access to their cutting-edge Pegasus tools and networks. Today, Nota proudly sits within Microsoft's Journalism Hub, its success further validated by closing over 3 Million in Seed round VC funding. Ankord Labs’ story with Nota illustrates a vital lesson: sometimes, the greatest innovations emerge from unexpected detours, fueled by a willingness to adapt and a commitment to solving pain points for real customers.

But the birth of Nota did not mean the death of The Doe. Instead, Ankord Labs swept in to re-envision what The Doe could become while still ensuring it could produce the outstanding narratives that energized The Doe’s loyal audience of followers. Refusing to compromise on quality, the Ankord Labs team connected Milan to Cleo Stiller, a renowned journalist, author and activist. Together, they wove a new storyline, not just for The Doe, but for their own vision – Narratives, a 501(c)(3) content house empowering underprivileged voices. This non-profit sanctuary has allowed The Doe to flourish and maintain its commitment to high-quality, anonymous content. But Narratives' reach extends far beyond The Doe's pages. It serves as a multimedia network, partnering with nonprofits to craft impactful stories that illuminate the struggles and resilience of underserved communities. The Narratives team acts as a bridge, connecting these communities with the public, igniting empathy and prompting action. Cleo, now also serving as The Doe's brilliant editor-in-chief, wears two hats, bringing her editorial prowess to The Doe while simultaneously championing Narratives alongside Milan and the Ankord Labs team. This synergy embodies the spirit of Ankord Labs itself – not just nurturing ventures, but fostering a collaborative ecosystem where impact and purpose reign supreme. The Doe and Narratives stand as testaments to the power of innovation that serves, reminding us that sometimes, the most compelling stories are not just told, but lived, and the truest success lies in empowering others to do the same.

From Prototype to Powerhouse: Ankord Labs Transforms Ideas into Sustainable Businesses

Today, Ankord Labs stands not merely as an investment fund, but as a team of creative, strategic, and ambitious innovators working to change the world for the better. It offers an expansive array of services meticulously tailored to propel startups to product-market-fit, revenue positivity, and sustainable growth.

At the start, the Ankord Labs team handles the essential functions of HR, recruiting, and accounting, ensuring a smooth and well-rounded operation for your venture. Creatively finding the right executive talent for companies which bridge multiple industries is a particular strength at Ankord. Then, the team at Ankord Labs metamorphs ideas into products, offering a lightning-fast pace of rapid prototyping to the meticulous care of thorough documentation. The result is a comprehensive support system that spans the entire digital product development lifecycle, from the first launch of a beta all the way to product updates that lock in investors.

Ankord Labs’ branding expertise delves into the nuanced realms of branding, logo design, and the creation of media content – a multifaceted arsenal of tools meticulously crafted to bring startups to life in their early days. Along the way, Ankord Labs' wordsmiths weave narratives that resonate with funding decision makers, transforming company pitches into unforgettable stories that captivate investors and propel Ankord Labs’ venture toward sustainability.

Specifically, Ankord Labs offers three tiers of engagement, allowing startups to tailor their own incubation process to match their unique needs.

• TIER 1: ANGEL INVESTMENT ( < $100,000) - a simple investment, leaving founders with full independence and the autonomy they need to steer their company while having the financial backing of Ankord Labs.
• TIER 2: FELLOWSHIP ($100,00 - $249,999; 6 months) - with a more sizable investment comes a package of services to jumpstart a startup’s prototyping, hiring, and executive development while providing accounting and legal guidance to founders.
• TIER 3: INCUBATION ($250,000+; duration of investment) - as a fully-invested member of the Ankord Labs’ portfolio, startups receive a wide range of services to transform an idea into a successfully funded venture. Support includes: HR, accounting, and legal expertise; product development and prototyping; brand development and marketing; and executive development and fundraising support. 

Ankord Labs: Innovative Ideas Collide with Strategic Leadership for Real-World Solutions

Ankord Labs' narrative transcends the individual to embrace the collective wisdom and resilience of a team sharing the weight of the challenges and triumphs inherent in the startup ecosystem. It represents a convergence of innovative ideas, strategic leadership, and an unwavering commitment to addressing the critical problems of the next generation. Ankord Labs is a breeding ground for audacious ideas and impactful ventures, driven by Milan's unwavering belief in innovation for good.

Follow Ankord Labs to witness the next chapter unfold, where groundbreaking solutions meet real-world challenges and leave a lasting mark on the world. 

Thanks for coming with us on this journey.

— The Ankord Labs Team