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honest and smart. you want them on your team.
Private: 129 Chars
Are you a successful entrepreneur that wants to help build your local startup community?
During our upcoming webinar, “How to Become a Leader in Your Startup Community,” we will outline the different resources needed to bolster your local ecosystem, and provide tips on how you can help startups and become a better startup mentor and advisor.
This webinar will take place on Thursday, August 27th at 8:00am PT (see local time here). RSVP to the Free Webinar Today!
This event will feature David Cohen (Founder and Managing Partner of Techstars), Sergio Escobar (Managing Director of The Founder Institute Montreal), and Adeo Ressi (Founder & CEO of the Founder Institute & TheFunded.com, 9X entrepreneur, and Managing Director of Expansive Ventures).
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Let me begin by saying that we're a fundable startup. We've raised $6MM from Angel investors in the last 18 months in two different deals with fair and reasonable deal terms. We have investors from all over the country who are excited to be in the company.
We presented to numerous Keiretsu chapters in an effort to leverage the value of the network. We pitched NorCal, got a due diligence lead and spent 3 months preparing a 200 page due diligence book that was REALLY good. In that time span our first round became oversubscribed by 2 x and we were no longer interested in Keiretsu Angels.
Fast forward 3 months and we have a new vehicle for a new financing. We do the roadshow again, this time starting with Keiretsu so we aren't oversubscribed. After spending thousands of dollars on fees and travel we raised literally $0 from the ~250 people on the "interested in investing" list. This was after we had already finished DILIGENCE!!!
I'm putting this post here so that others will hopefully avoid my mistake and take the thousands of dollars in fees and spend it on something with a higher ROI, like tacos and red bull - anything is better than throwing it away in Keiretsu.
To answer the question of why we went at all: one of our existing investors had another company go through Keiretsu and have a very favorable outcome and he encouraged us to take the same approach. Where the other company succeeded, we failed miserably.
Private: 260 Chars
We have seen a strong need for coaching in seed-stage companies preparing for funding, and as a result, we created the Founder Lab program earlier this year.
In the Founder Lab, seed-stage companies can make several months of progress in just one vigorous week in Silicon Valley, receiving intensive mentorship and training from the brightest CEOs and investors. By the end of program, you will go home with a fully refined pitch-deck, a validated growth plan, a solid network, and a tactical execution plan to raise funding. Also, there is no equity involved.
If you’re interested in learning more about Founder Lab, visit FounderLab.com, or apply today at http://founderlab.com/apply.
The Autumn 2015 Founder Lab will take place from Sunday, September 13th to Friday, September 18th, and there are a very limited number of spots available. If you apply by the Early Application Deadline on Sunday, July 26th, you will have access to the Early Bird Course Fee (20% discount), and you may be eligible for a Course Fee Scholarship.
Now in it's third edition, previous Founder Lab programs have been attended by very fast growing companies, like AMPL Labs, SunToWater, Peerby, Loggr, ConnectX, Cashtivity, Keepe, Theo, Beeketing, MyeTutor.org, Trato, Tourism4me, and many more.
In addition, participants in past programs have had the opportunity to work with and visit some of the top organizations in Silicon Valley, like Google, Twitter, and IDEO - and venture capitalists like Khosla Ventures, Sequoia Capital, Javelin Venture Partners, K9 Ventures, and more.
Learn more at http://founderlab.com.
They have now become a fully fledged Seed Fund - they only do deals where the company and team have traction, and probably even a little funding.
Good for them if they get to choose, why not take the de-risked ones?
But don't trick yourself into believing this is the YC of 5 years ago. An idea and a smart team will no longer do - go get some traction, and even better a little outside funding.
A team that just entered the most recent batch was rejected first time round. They subsequently raised a significant seed, did a spectacular launch, and have now been accepted... Read what you like into that.
Private: 48 Chars
Corporate people don't "get it" .. He probably has good sales skills and can help a VC raise a fund .. and that's it.
Corporates and start-ups do not mix.