Beyond traditional fundraising
Upcoming SlideShare
Loading in...5
×
 

Beyond traditional fundraising

on

  • 205 views

 

Statistics

Views

Total Views
205
Views on SlideShare
154
Embed Views
51

Actions

Likes
0
Downloads
4
Comments
0

1 Embed 51

http://www.thecapitalnetwork.org 51

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Beyond traditional fundraising Beyond traditional fundraising Presentation Transcript

    • Beyond Traditional Fundraising Resources to Stretch Your Start-Up Dollars
    • The Funding Dilemma: More than a Double Edged Sword •  Resources Strapped – People/Skills – Place/Tools – Money •  Low Signal to Noise Ratio – Conflicting Advice – Meaningful Feedback •  Endless Sense of Urgency
    • The LEAN Start-Up Invasion •  The MVP •  Early Customer Validation •  More with MUCH less – Do you have a paying customer for your one prototype? •  Use of Incubators/Accelerators – Like-minded community driven networks •  Fail small and fast
    • Help is on the Way! •  People/Network –  Mentors/Advisors –  Contract Services –  Interns and Co-Ops •  Place/Tools –  Incubators/Accelerators –  Research Institutions –  Design and Manufacturing •  Money –  Competitions –  Grants and Grant Match –  Strategic Partners
    • M2D2 Resources •  Start-up friendly space –  Short term, scalable leases –  Like-minded community •  Access to the larger community –  Large Corporations –  Industry support experts –  Events •  Bolts to Clinical Trials •  Competition –  Marketing –  Validation
    • UMass Partnership • Materials Characterization, Analysis, Selection • Design and Prototyping • Testing and Verification • Surgeons with Ideas • Partnership with Pre-Clinical Investigators • Large animal testing/clinical trial facilities Lowell: Engineering Expertise Worcester: Clinical Expertise Lowell: Business Expertise • Opportunity Assessment, Business Planning • Market Identification, Analysis • Integration into Graduate Courses
    • New Venture Support •  Other University Resource Access – Core Research Facilities – Corporate Collaborators – Testing and Research Partners for Grants •  Market Validation and Research •  Mentor and Advisor Identification/ Introduction •  Pre-Seed Funding
    • Accelerators and Competition– Choose Wisely •  M2D2 New Venture Competition •  MassChallenge •  Merrimack Valley Sandbox •  Venture-Style and Corporate Sponsored •  Is the award worth the time/diversion •  Are there stings attached •  Are they experts in your space or can they get you to people who are
    • Are Grants the Answer? •  Moment Fund @ UMass Medical •  MSLC •  SBIR/STTR and State Matching •  Do they distract or validate your effort •  Do you have what it takes to win •  Does it fit within your timeline
    • Strategic Partnerships •  Can accelerate innovation, reduce costs and provide a future sales/marketing channel and a path to exit •  More than 70% fail over time; only 10% deliver on original expectations (Ogilvy&Mather) •  Corporate BD, Open Innovation, Corporate VC
    • Do Your Homework •  Target – Pipeline and focus fit – The ‘soft’ stuff – Would I marry this guy? Make the case: Can this be a mutual beneficial relationship?
    • Deep Dive Before the outreach: •  Know your potential partner completely and how you are/should be connected •  Know what you want from the relationship and what’s in it for the partner –  Be specific, but flexible –  Plan with key milestones •  Have an internal lead, but coordinate with the entire team
    • Engage •  Use your network •  Hear and understand what your partner likes and needs – does it fit with your goals •  No today doesn’t mean no forever •  Don’t kiss a 1,000 frogs – word gets around
    • Manage the Partnership •  Formalize your relationship •  What does the end look like •  Build/add where necessary •  Set up a joint work stream for major milestones – how will the relationship work, who does what and when