TechColumbus helps startups in Columbus raise capital and grow their businesses. One company that used TechColumbus' resources is EduSourced, which provides tools to help universities manage experiential learning programs. EduSourced participated in accelerators, got advice on moving from concept to customers, and received pro bono legal services from Expert Network partners. EduSourced is now a resident at SpringBox Labs and raised $270,000 in proof of concept funding led by TechColumbus. In 2013, TechColumbus assisted companies generated over $100 million and portfolio companies raised $64 million, showing it helps develop fundable startups and sources of risk capital for the region.

1. TO ACHIEVING
the Milestones that Lead
to Investment Capital
Tom Walker
Featured in The Metropreneur, July
Capital Access Series #6
STEPS

2. If you are an entrepreneur
looking to raise capital, the
best advice I have is to
call TechColumbus and
ask how we can help.

3. companies made inquiries.
From those initial contacts, we added
new companies to our portfolio,
bringing the total number of companies
actively accessing venture services and/or
investment resources to over
400
56
160.
Last year,

4. a firm that delivers an innovative, cloud-based
service that provides comprehensive tools to help
universities, colleges and high schools efficiently
and effectively manage experiential learning programs.
CEO and serial entrepreneur David Comisford has
used the resources and initiatives available through
TechColumbus to help launch his company.
One of those 160 companies is

5. EduSourced participated
in the 10X Startup Accelerator.
We are fortunate in this region that there
are multiple incubator and accelerator
opportunities. TechColumbus collaborates
with 10X, the DEC, Inc@8000 and
others, as well as providing SpringBox
Labs, our own in-house accelerator.

6. EduSourced engaged
TechColumbus’ venture
advisory team to develop a
plan to move from concept,
to prototype, to beta customers.

7. “Being engaged with TC added
some credibility to our efforts,”
Comisford said. ”They have a rigorous
vetting process and going through
that helped establish EduSourced as
a serious startup. They made introductions for
us. They are a hub. They are involved with
so many entrepreneurs at all
different stages that they can really
help connect the dots.”

8. EduSourced worked with
Expert Network partner
Bricker & Eckler to create
corporate documents and
shareholder agreements.
“We received pro bono legal services
which allowed us to launch our business
and prepare for investment,” Comisford
said. “When you start accepting capital
from angel investors, you want to be
engaged with a good attorney who
understands how to deal with startups
and equity investors. Bricker & Eckler
helped with all of that. We continue to
use their fee services.”

9. EduSourced is a
SpringBox Labs
resident.
“This is an exciting environment.
TechColumbus has a great staff that
isn’t afraid to jump in and help,”
Comisford said. “Our advisor works
right down the hall, joining sales
calls and mentoring. That’s where
TechColumbus adds great value.”

10. EduSourced raised
$270,000 in proof of
concept investment.
TechColumbus led the round
with investment of $100,000
with Founders Factory and
angel investors also participating.

11. EduSourced signed its first customer
before the round closed—
the kind of milestone achievement
that makes early stage investors
willing to write checks.

12. TechColumbus assisted
companies generated more
than $100 million in 2013. In
that same year, TechColumbus
portfolio companies raised $64
million in funding, with 17
companies raising $1 million or
more. Sixty percent of all
venture deals in the Columbus
region went to our portfolio firms.

13. For these types of investments
to occur, a region must have fundable
companies and sources of risk capital.
TechColumbus
helps develop both.