If you recall, last month we announced that the incubator model in Atlanta (and Georgia) was changing. The SBIR Assistance Program for Georgia was merged into the newly expanded ATDC (Advanced Technology Development Center). This new relationship has enabled (and will continue to enable) more Georgia companies and researchers to learn about SBIR and STTR as well as expose those seeking SBIR/STTR funding to additional resources/assistance outside of SBIR/STTR.
In a move that will help foster the awareness of the full range of services ATDC offers, the SBIRGA.com blog will be incorporated with ATDC’s existing blog and portal. You do not need to do anything differently on your part if you don’t want to. You will still be able to to read the SBIR/STTR posts by going to SBIRGA.com or you can go directly to the ATDC section dedicated to SBIR (http://www.atdc.org/sbir). We hope, though, you WILL stop and take a look at all the services and opportunities provided at ATDC as there might be additional services which could help your business.
That’s one of the essential questions we help you answer in our upcoming educational program CapVenture. CapVenture is a six week long, boot camp that will educate and equip early stage CEOs and executives to better manage and fund their business.
If you’re actively seeking funding or ever expect to, this is an essential program for you. You’ll get a inside look at the minds of venture capitalists and angel investors with an experienced team of investors, CEOs and industry executives. You will create a fundraising strategy, practice and sharpen your investor pitch, and at the end of the program, give your pitch in front of a room full of investors.
But CapVenture is not solely focused on fundraising. For entrepreneurs not looking to raise capital, CapVenture offers a unique opportunity to develop their business model, sharpen their go-to-market strategy, and enhance their network by sharing with and learning from a room full of CEOs, executives and investors.
We are still accepting applications to CapVenture through July 15th. So, if you’re interested, or know someone who might be, fill out an application.
ATDC member company PlayOn Sports presents live coverage of Atlanta's own Centergy parking deck collapse cleanup.
At approximately 12:30pm Monday afternoon portions the parking deck attached to the building that houses the ATDC collapsed. Emergency crews have been working nonstop to shore up the garage and search for casualties. Search efforts have found no evidence of victims.
ATDC will remain open during the rescue and recovery operations. The Centergy parking deck will stay closed until further notice. All visitors to ATDC should park at the Georgia Tech hotel on Spring Street. Directions to the hotel parking deck can be found here.
Successful entrepreneurs think differently. They are better at recognizing and dealing with what they don’t know. They proactively identify business risks and uncertainties and mitigate them.
This is a process that can be learned. Join us at the next TAG/ATDC Entrepreneur’s event to learn how.
The session will be led by Marty Gupt, Managing Director of CAP Consulting Group. CAP Consulting helps entrepreneurs become big companies and helps big companies become more entrepreneurial. Prior to this, Marty was Vice President and General Manager of TeraText Solutions, a division of SAIC. He has over 20 years of experience with Pricewaterhouse Coopers, BellSouth, AT&T and Xerox, and has extensive experience in developing new products and businesses. Marty has an MBA from the University of Rochester and a BS in Industrial Engineering from the University of Buffalo.
When venture capitalists or angels are considering investing in a company, they ask many questions. Their questions usually are focused around understanding the four basic risk startups face.
- Management Risk: Investors are trying to understand if you and your team are the right people for this opportunity. Key questions:
- Do you have deep experience in the industry you are entering?
- Do you have previous startup experience?
- Will you listen to advice from your board?
- Technology/Product Risk: Investors are looking to see if you have a good product that will give your company a competitive advantage. Key questions:
- Is there any intellectual property around the technology, such as patents?
- Is it difficult for your competition to replicate your product?
- Does the technology actually work? Is it defensible?
- Market Risk: Investors want to know if you are attacking a lucrative market and have a good go-to-market strategy. Key questions:
- How big is the market?
- Is the market growing?
- Are you solving a major pain in the market?
- Is your go-to-market strategy reasonable?
- Funding Risk: Investors need to believe you can execute your plan with the amount you are raising. Key questions:
- Is this too much or too little of a raise?
- Is your use of funds strategy realistic?
- How long is your runway?
- Will you have to raise another round in the near future?
Before you hit the fund raising trail, ask your self these (and other) tough questions. If you don’t have good answers, find things you can do to mitigate concerns investors will have. Anything you can do to reduce these risks will increase your chances of successfully raising capital.
Join us at this month’s TAG/ATDC Entrepreneurs event as a panel of entrepreneur operators and experts share their tips on how to manage, use and preserve your precious cash sources.
Experts to include:
- Doug Hadaway, CFO, MFG.com; Former CEO, Marketworks
- Lindsey Sykes, Bennett Thrasher Partner, Former CFO, TRX
- Dave Chambless, Principal, Abraxas Business Services
Topics will include:
- How do you best make decisions on how and when to spend cash particularly when you’re a cash strapped organization?
- How do you get better runway from the capital that you raise for your venture?
- What policies and procedures are essential in a growing
organization that don’t hinder the entrepreneurial spirit of your
venture?
- What are the best and most creative ways to compensate management and employees that will motivate while preserving cash?
- What financial modeling and cash-flow management tools and best
practices do entrepreneurial ventures deploy to best position for
successful capital raising (bank and/or institutional capital) or other
important transactions?
- What do you recommend for management of finance within a
startup/early stage company? What are the pros and cons of an
outsourced CFO model? If you outsource, what should the company retain
internally?
- When does it make sense to bring in a CFO or senior finance person to a company?
- What are the key mistakes growing companies make in the finance
area that hinder their ability to sell their company, raise capital or
execute successful on major events?
Stephen Fleming, a former venture capitalist and Vice Provost of Georgia Tech’s Enterprise Innovation Institute, has an excellent series on raising capital on his blog. Fleming, who’s also on the investment committee of Seraph Group, has plenty of VC experience and knows the do’s and don’ts of raising venture funding. If you’re raising capital or thinking about it, you need to read this series (you can download a PDF of his presentation here):
