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Innovative Ways to Bootstrap Your Startup Company

  • 06 Oct 2015
  • 6:30 PM - 9:45 PM
  • Constant Contact, 1601 Trapelo Rd., 1st Floor Great Room, Waltham (Exit 28, I-95/Route 128)

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Meeting Presentations:

Joanne Lang, Founder Colliders Accelerator, AboutOne, DivvyDo and Board Adviser to Flex-IT Presentation_Lang.pdf

Craig Bloem, Founder and CEO, LogoMix, Inc. Presentation_Bloem.pdf

Dr. Neil Goldfine, Founder, JENTEK Sensors, Inc. Presentation_Goldfine.pdf


Entrepreneurs often think that the only way to grow their business is to raise capital from VCs or angel investors. While outside capital can fuel growth, it also carries a considerable cost in terms of time expended, loss of equity and loss of control. Surveys indicate that for the year ended  2011, of the 543,000 new business created in the U.S., only 29,626 (that is, only 5%) received VC or angel investor funding at the seed or early stage startup phase. And for many companies, the lack of VC or angel investment did not impede growth. In August 2012, Inc. Magazine published its list of the 500 Fastest Growing Private Companies in the U.S., and 77% of the founders of those companies set up using only their own personal savings, with two thirds needing less than $100,000 to get started. And while 34% stated that access to external capital has been essential for growth, 42% have not utilized external funding in developing their business. Also, 74% have financed their growth over the past three years largely through cash flow from operations. So, how do you do it? In a word – Bootstrapping. That is - using your own resources and effectively managing your cash flow to internally generate the funds that you need to operate your startup business.

Apple, Google and HP all began in garages with free rent and we will hear from three experienced CEOs who have also built their business using bootstrapping techniques without VC or angel investment until they achieved important milestones and were well on their away. In some cases, they progressed all the way through to a successful acquisition exit without external funding.

Panel:

   

Joanne Lang, Founder Colliders Accelerator, AboutOne, DivvyDo and Board Adviser to Flex-IT

One of Forbes Top 10 Female Entrepreneurs to Watch, Founder of Colliders Accelerator, AboutOne (the world’s only Family Management Cloud Platform) and a board adviser to Flex-IT (an "Uber for Tech contractors"), Joanne Lang writes and speaks regularly on topics including entrepreneurship, fundraising, business development, networking, and leveraging technology to simplify life and prepare for the future.

Lang has appeared first on stage at VentureBeat DEMO and is one of the 3% of women who have raised $5M in capital in the US. She was featured in Microsoft’s documentary, CTRL+ALT+COMPETE. She’s a 2014 SmartCEO Voltage Award finalist, A Dell Founders Club Entrepreneur, and blogs for Huffington Post, The Wall Street Journal, Women 2.0, and Region’s Business. Lang is also a frequent panelist, including the NYU Women Entrepreneurs Festival, CES Living in Digital Times, Women 2.0 Founder Friday, Women in Tech Summit, and BlogHer Entrepreneurs.  Lang is also a 2015 judge for "The Stevie Awards" for Women-In-Business and is on The White House and SBA steering committee InnovateHER in Philadelphia.

With the support of AWE [www.phillyawe.org] and Gartner, Joanne recently founded Colliders Accelerator, which offers a unique opportunity for entrepreneurs’ or large corporate innovation teams to receive the education, templates and contacts they need to refine and launch their business ideas. The accelerator provides in-person and virtual educational sessions, as well as resources and funding assistance to build technology and run marketing and PR programs.  What really sets Colliders apart is their corporate matchmaking service that gives entrepreneurs an opportunity to find the perfect corporate business match and early access to customer revenue, investment or acquisition potential, while in-parallel providing a "Virtual Innovation Center" for corporations.

 

Craig Bloem, Founder and CEO, LogoMix, Inc., www.logomix.com

Craig is an experienced serial entrepreneur focused on marketing and product strategy. He has over 10 years experience in marketing, business development and product management for developing internet businesses. From 2009 to 2011 her was co-Founder and CEO of Performable, a marketing software platform for businesses looking to optimize their marketing, sales and customer service efforts. Performable was acquired by Hubspot for a reported $20 million. Then, in 2011, Craig launched LogoMix to provide small businesses with easy-to-use tools to design and purchase identity products including logos, business cards, pens, polo shirts and other promotional products. Bootstrapped from the get-go, LogoMix has successfully scaled to reach more than 300,000 customers worldwide, and 25 million global users. Craig will relate his best techniques in successfully bootstrapping his companies. Craig is a graduate of Ithaca College, with a BS, Marketing and Management.

Dr. Neil Goldfine, Founder, JENTEK Sensors, Inc., http://www.jenteksensors.com

Dr. Neil Goldfine is the founder, president and chief engineer of JENTEK Sensors, Inc., an Engineering Science company with award winning products for non-destructive testing and structural health monitoring used on a wide variety of industrial, commercial, and government applications. For JENTEK, SBIR grants provided financial resources and infrastructure that have been critical to the company's growth. The company now employs 27 and the SBIR programs hasvebeen credited with allowing the company to grow to critical mass in 10 years rather than 30 years. The program also allowed JENTEK direct access to DoD customers and their defined needs which has also been important to the company's success. Neil will speak on the SBIR programs and related benefits to bootstrapping companies. Neil has a Ph.D. MIT (1990), M.S. MIT (1985) B.S.E.E. University of Penn, B.S.M.E. University of Penn. (1981), and also has to his credit over 50 patents, numerous publications and technical awards

 

Moderator:

Robert Adelson, business and tax attorney and partner at the Boston law firm of Engel & Schultz LLP  is the Chairman of the IEEE Boston Entrepreneurs’ Network. Rob has been an attorney for over 30 years specializing in business, tax, stock and options, employment, contracts, financings, trademarks and intellectual property. Rob began as an associate at major New York City law firms before returning home to Boston in 1985 where he has since been a partner in small and medium sized firms before joining his present firm in 2004. Rob represents entrepreneurs, start-ups and small companies, independent contractors and employees and executives. Rob is a frequent speaker on business law topics and author of numerous articles published in Boston Business Journal, Mass High Tech and other publications. He has been named among the “Top 20 Boston Startup Lawyers” by ChubbyBrain.com, a website that provides tools for entrepreneurs. Rob has been on the ENET Board since 2002 and Chairman since 2009 and is also a Co-Founder and Board member of the 128 Innovation Capital Group. He holds degrees from Boston University, B.A., summa cum laude, Northwestern University (Chicago), J.D., Law Review, and New York University, LL.M. in Taxation.  (www.ExecutiveEmploymentAttorney.com