Founded in 1970, Charles River Ventures is one of the oldest and most
successful venture capital firms. Companies like Cascade, CIENA,
Chipcom, NetGenesis, Parametric Technology, Sonus, Speechworks, Stratus
Computer, Sybase, Vignette and dozens more have gone from idea to
reality with the financial, managerial and visionary backing of CRV.
The firm's investment returns are consistently among the highest of
venture capital firms, giving us one of the best track records in the
industry.
CRV offers a seed fund called QuickStart, where they do convertible debt up to $250K.
Typical startup vesting schedules last 36-48 months and include a 12
month cliff. The cliff represents the period of time which the person
must work for the company in order to leave with any ownership and the
vesting schedule represents what percentage of stock the company can
buy back at the time of departure. For example on a 48 month vesting
schedule with a 12 month cliff, if an employee is offered 1000 shares
but leaves in the first 12 months they
don’t keep any equity. However, if they leave after 26 months they get
to keep 26/48 of the equity promised or 542 or the 1000 shares. Key
team members leaving will always be difficult but using a vesting
schedule can make one acrimonious aspect of their departure much easier
Event Description - Valuation of the Early Stage Company Workshop
This
workshop covers the term sheeti and helps entrepreneurs understand how
to value their business when raising capital. Topics covered include
offering terms, factors that affect valuation, valuation by life stage,
and valuation methodologies. The workshop also assists entrepreneurs in
preparing an actual valuation for their business.
Small
Business Innovative Research Grant Workshop
Enterprise Center of Johnson County
1/24/2008 3:00 PM to 1/24/2008 5:00 PM
Contact: jvehlewald [at] ecjc [dot] com The U.S.
Government provides over $2 billion annually to hundreds of small, high-tech
firms through the SBIR (Small Business Innovative Research) and STTR (Small
Business Tech Transfer and Research) programs. These programs are aimed at
the development of early-stage, high-risk, high-payoff technologies in areas
such as life sciences, information technology, manufacturing, defense, and
homeland security. More than 1000 solicitations from various federal agencies
are currently open, with proposals due between now and December 2008. In this
workshop learn more about these federal grant funding opportunities and how
to apply for them. Presented by Mr. Suman Saripalli, an SBIR/STTR program
specialist with 13+ years of SBIR experience.
Very complete model for 5 year financial projections, including valuations. Be prepared to spend a bit of time going through this, but the comprehesive resluts will help you with investors and additional planning.
Author & Source:
Frank Moyes and Stephen Lawrence, University of Colorado, FastTrac Tech Venture
The Enterprise Center of Johnson County
is a business incubatori that provides business consulting, advisory
services, financing resources and office space to accelerate the growth
and success of high-growth companies.
Since 1999, ECJC companies have created 675 jobs, raised more than $45M, and generated over $32M in sales.
“Before you even
start addressing the hard stuff, never ask a venture capitalist to sign
a non-disclosure agreement (NDA). They never do. This is because at any
given moment, they are looking at three or four similar deals. They're
not about to create legal issues because they sign a NDA and then fund
another, similar company--thereby making the paranoid entrepreneur
believe the venture capitalist stole his idea. If you even ask them to
sign one, you might as well tattoo "I'm clueless!" on your forehead.”
Fund raising for a startup is painful, drawn out, success is unlikely and subject to the whims of investors. Plan on bootstrapping, pray for investment is the best strategy. If you are self sufficient, you are not subject to the whims of others and stand a better chance of success. Investors smell despriation, so if your only hope is them, you are not likely to get funded.
This is your brain.
This is your brain while you’re trying to get funding.
Looks like an interesting event, which has been having some success pairing researchers with funding sources. WIll invite into the StartPath family. More Below.
MANHATTAN, Kan. – K-State Research and Extension and Innovative
Solutions invite entrepreneurs, researchers and investors to attend
Last Tuesdays, a networking event focused on building relationships to
increase business development and technology commercialization in the
Manhattan Community. Students interested in entrepreneurship are also
welcome to attend.
The inaugural Last Tuesday’s event is Sept. 25 from 5:30 p.m. to 7:00 p.m. at the K-State Alumni Center.
“The sole purpose of Last Tuesdays is to bring together the right
players and facilitate business creation and wealth development in
Manhattan and across Kansas,” said Dr. Vincent Amanor-Boadu, executive
director of Innovative Solutions and K-State agribusiness professor.
“When connections are made among entrepreneurs, researchers and
investors, magic can happen,” Amanor-Boadu said.
Last Tuesdays will take place on the last Tuesday of every month at
a local spot in Manhattan. Each event will feature an entrepreneur or
investor who shares insight about his or her business, financing
process or a particular initiative they are seeking to fund.
