Goed 2010 presentation

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DataSync history slideshow given at the 2010 South Dakota GOED Conference, held on April 22, 2010.

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  • Goed 2010 presentation

    1. 1. Connecting the Dots: How to encourage budding entrepreneurs in your community
    2. 2. The Story of DataSync... Vetter Solutions was launched as a sole proprietorship in May 2004  Offered Home PC support, business network support  Served 100+ residential, 25+ business customers  Ran out of the Vetters’ basement
    3. 3. Vetter Solutions, Inc. Vetter Solutions was Incorporated in July 2005  Moved into full office in Madison, SD  Added network management, web development, IT Security services  Funded by SBA backed Loan, SBDC created financial projections
    4. 4. The new idea: DataSync Customers needed a backup solution to protect their data...  We Believed online services had potential  Began hosting customer backups, applications  Created management team/strategy  Due to large potential, Board of Advisors created (Rich/SDTBC put together team)
    5. 5. What did it mean? Maybe we could host services/software, pass the savings on!  VERY scalable model  BUT, required substantial capital  Looked to Enterprise Institute for help.
    6. 6. Capital: Giant Vision We needed to raise $500,000 to get the idea off the ground.  2006: Rejected  2007: Semi-finalist  2008: Semi-finalist  Zero capital  LOTS of feedback!
    7. 7. Series A Offering End of year 2008: DataSync closes Series A offering  Used services of SBDC, Enterprise Institute, RAIN network, GOED  Pitched all over the region  Funding came in at the last minute
    8. 8. Rights Offering October 2009: DataSync closes additional $1 million in funding  Follow on RAIN investment  Individual local ANGEL investors  Adds integration with Quickbooks, distribution channels
    9. 9. DataSync Today Growing software company with an innovate product!  16 employees  1000’s of users around the world  25+ partners  A chance at an exit!
    10. 10. The Team DataSync is the result of collaboration of many!
    11. 11. Panel Discussion  Dr. Melvin Ustad - Director, Office of Commercialization  Rich Naser - Executive Director, South Dakota Technology Business Center  John Hemmingstad - Director, Avalon Capital Group  Mike Vetter - CEO, DataSync
    12. 12. KEY FINDINGS
    13. 13. KEY FINDINGS
    14. 14. KEY FINDINGS  Connect Entrepreneur to providers
    15. 15. KEY FINDINGS  Connect Entrepreneur to providers  Create a mentor/advisor board
    16. 16. KEY FINDINGS  Connect Entrepreneur to providers  Create a mentor/advisor board  Develop/polish business plan and pitch
    17. 17. KEY FINDINGS  Connect Entrepreneur to providers  Create a mentor/advisor board  Develop/polish business plan and pitch  Assess financing needs
    18. 18. KEY FINDINGS  Connect Entrepreneur to providers  Create a mentor/advisor board  Develop/polish business plan and pitch  Assess financing needs  Position for growth

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