RAMP Mentor Spotlight: Interview with RAMP Entrepreneur-In-Residence Mike Abbott

Product development design engineer Mike Abbott wears a lot of hats. From a founder, to consultant, to mentor, he brings his passion for good ideas and intentional innovation to every role. At RAMP, our entrepreneurs learn from his wealth of experience and knowledge through his role as Entrepreneur-in-Residence and primary instructor and developer of the entrepreneurial curriculum. 

In addition to his role at RAMP, he currently is the managing director and owner of Cambrian Design and Development LLC, CEO of Caerus Venture group, an angel investor, and an active member of numerous advisory boards. Mike holds both a BS and MS in Mechanical Engineering from Virginia Tech, a Project Management Professional (PMP) certification and is a licensed Professional Engineer in Virginia.

In short, Mike is an expert in evidence-driven innovation and portfolio management. We were thrilled talk with him about his background, his role in the regional innovation ecosystem, and even get some of his insights for early-stage entrepreneurs. 

Can you tell us a little bit about your background? How did you find your way into tech and entrepreneurship?

For more than three decades, I’ve worked as a product development design engineer, primarily on a consulting basis. My experience spans an extraordinary range of industries—from beach chairs to nuclear power plants, escape rooms to US Navy flight deck equipment. Throughout this journey, I’ve founded multiple technology-focused businesses in aerospace, industrial safety, entertainment, and investing, among others.

I joined RAMP in its second cohort after Mary Miller, a former director, asked for my help with curriculum development. At that time, I was primarily working with Fortune 500 companies to develop business processes and tools that enhanced innovation and product portfolio development. I brought these insights to RAMP because, regardless of context, every new idea confronts the same fundamental market challenges—whether in startups or large established enterprises. 

How did you choose the Roanoke region as a place to live and grow your career?

I’ve loved this region since my time at Tech. When my first son was born, we moved here from Baltimore to provide him (and then his brother) with a better place to grow up. 

What are your current roles/projects and how to they play a role in the greater innovation ecosystem? 

I serve as the Entrepreneur in Residence at RAMP and as the primary instructor and developer of the entrepreneurial curriculum.

Additionally, I hold CTO and board positions with multiple regional startup companies. As a National I-Corps instructor, I support Virginia Tech’s National Science Foundation entrepreneurial initiatives. I’m also CEO of Caerus, an investment company focused on enabling economic growth in our region’s rural communities. Beyond these roles, I’m an angel investor in several regional startups and own multiple local businesses that create jobs and generate regional income.  

What is your favorite memory or proudest moment working with RAMP?

I don’t have a single defining moment. Since we cannot transform bad ideas into good ones, I focus on developing our entrepreneurs themselves. I love teaching a way of thinking that reduces risk and creates opportunities for success on any project. Watching the results of their hard work unfold at each Demo Day is always rewarding.  

As a Founder, what is one obstacle that you’re most proud of overcoming?

Finally understanding—with evidence—what our customers really care about and how their ecosystem operates. Equally important is recognizing where you cannot win, which prevents wasting resources chasing unrealistic opportunities. This combined insight alone can be attributed to most of the growth across multiple businesses. 

What piece of advice would you give early-stage tech/biotech entrepreneurs? 

Learn how to redirect the passion you have for your own technology toward understanding the true nature of your potential customers’ circumstances and how those circumstances influence how they evaluate solutions.

What would you like the community to know about innovation in the region?

Innovation isn’t limited to the startup community. Innovation is about transforming any new idea into growth revenue. With the right tools and business processes, any company can foster a more productive innovation environment that operates efficiently and delivers substantial returns on investment. The key is investing time to educate, train, and support your entire workforce in the language and tools of innovation best practices. This approach benefits design, new product development, sales, marketing, PR, and other functions. 

Tell us a fun fact about you!

I thrive on the cross-pollination of ideas. As a result, I try to do and learn as many things as possible, seeking insights into every industry and technology I can. This curiosity extends into my personal life, where I spend time playing banjo, restoring cars, flying, SCUBA diving, hiking, camping, studying behavioral economics, construction, programming, and building cool things.  

Anything else you’d like to share about your career, team or future projects? 

Over the past decade, I’ve spent more than 20,000 hours teaching over 4,500 teams (15,000 people) how to innovate more effectively. My clients have realized more than $12 billion in validated top-line opportunities, which have generated over $2 billion in bottom-line revenue.

I’m currently working on two future projects. One leverages AI to extend my teaching by creating scalable access to help in the early stages of customer discovery. The second remains confidential for now but promises to have a significant impact that starts right here in the New River Valley.

RAMP and RBTC are part of the Roanoke Blacksburg Innovation Alliance (RBIA), established to grow the region’s innovation economy, technology and life sciences sectors, and the supporting professional communities. It aligns the strengths and programming efforts of the Roanoke-Blacksburg Technology Council (RBTC) and the Regional Accelerator and Mentoring Program (RAMP). RBIA serves GO Virginia Region 2 and works to form collaborations with government, business, academia, and other organizations to advance the region and grow a thriving innovation economy.