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Alternative Sources of Funding

  • 06 Oct 2009
  • 7:00 PM - 9:59 PM
  • Foley Hoag Emerging Enterprise Center, 1000 Winter Street, Suite 4000, Waltham, MA

Registration


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Meeting Presentations:

Jeffrey Simon, Director of Infrastructure Development, Massachusetts Infrastructure Commission, Commonwealth of Massachusetts, Presentation

Jukka Valimaki, Co-Founder and Director, EGG-energy, Presentation

 Peter Bastein, founder Boston Office, Toyota Tsusho Ameria, Presentation

Are you trying to launch or grow a startup business?
Do you need money but just can't find it?
Not ready for angels or VC investors? Or already turned down?
You need to build your company and need money to do it - but how to do that?

This panel tries to answer those questions:

  • How to build your company from nothing to something
  • How to do it without VC or angel money
  • How to get non-investor first funding and further cash equivalents
  • How to cut corners to lower burn rate as you build value in your company
  • How to get Federal Stimulus Funds

This panel will focus on getting initial money from non-traditional sources when VCs and angels won’t help and friends and family are tapped out. The panelists will speak from experience to show you how they’ve used grants from non-profits, winnings from business plan competitions, strategic partnering and other sources. A global company will show how it views strategic investments in startups. A government official will show how to get your share of Stimulus funds.

Investors want to see something before they invest. Yet it takes money to make your company into something to interest investors. It’s a catch-22. This panel offers techniques to show you how to break out of that conundrum - to take your company from nothing to something, and to do so without traditional VC or angel funding.

PANEL:

Peter Bastienfounder Boston Office, Toyota Tsusho Ameria

Jukka ValimakiCo-Founder and Director, EGG-energy

Jeffrey SimonDirector of Infrastructure Development, Massachusetts Infrastructure Commission, Commonwealth of Massachusetts

MODERATOR:

Michael S. Chester , Past Chairman of the IEEE Boston Entrepreneurs' Network, Serial Entrepreneur, President, International Manufacturing Consultants

PANEL:

Peter Bastien, founder Boston Office, Toyota Tsusho America

Mr. Bastien leads the technology business development and investment efforts for Toyota Tsusho America. He is the founder of the Boston office, with mandates to identify technology business development opportunities for Toyota Tsusho within entrepreneurial ventures and research institutions. In this role, he develops deals that include capital investments, distribution agreements, and localization contracts. Sectors of particular interest include alternative energy, advanced materials, and IT. Prior to Toyota, Mr. Bastien was an associate at a start-up early-stage venture capital firm; he held management and engineering roles at Parametric Technology (PTC); and sales positions for a niche electronics manufacturer. Mr. Bastien earned an MBA from the Harvard Business School and a B.S. in Mechanical Engineering from The Ohio State University.

Toyota Tsusho is the trading company for the Toyota Group, with close ties to Toyota Motor as well as a group of non-automotive partner companies. Toyota Tsusho America considers venture capital an integral tool to identifying next-generation technologies that will help diversify its core business and satisfy its customer base. Toyota Tsusho America has invested as an LP in venture capital funds focused on advanced materials as well as on more traditional IT / Internet infrastructure technologies. Direct investments in carefully selected companiesare used to strengthen relationships.

Jukka Valimaki, Co-Counder and a Director, EGG-energy

Jukka Valimaki is co-founder and a director at EGG-energy. EGG-energy is a for-profit company with a social mission that operates in the energy sector in Tanzania. The company connects low-income households to electricity by offering a service that uses rechargeable, portable batteries.

EGG-energy was founded by MIT and Harvard students in 2008 and has its roots in Cambridge, Massachusetts. EGG-energy is currently operating its first battery stations near Dar es Salaam, Tanzania. EGG-energy’s service is a micro-scale solution that serves bottom of the pyramid households.

EGG-energy has received seed funding from grants form non-profit organizations and 3 business plan competitions and is currently in talks with several government-funded programs which target the energy space.

Jukka Valimaki is currently pursuing an MBA at the MIT Sloan School of Management with a focus in Finance. Prior to Sloan he worked in business development and project management in retail banking at SEB in Scandinavia.


Jeffrey Simon, Director of Infrastructure Investment, Massachusetts Infrastructure Commission, Commonwealth of Massachusetts

Jeffrey A. Simon is a senior real estate professional with 30 years’ experience. His experience both in the public sector and in the private have provided varied and increasingly responsible positions.

Before his appointment as Director of Infrastructure Investment, Mr. Simon was with Actus Lend Lease for 6 years, the last 2 of which were as President. He returned from the company’s headquarters in Nashville to his home in Boston, and assumed the part-time role as Executive Chairman. Actus is a real estate development firm that specializes in the creation of masterplanned communities and public/private partnerships. With Actus, he previously served as Senior Vice President in charge of all Navy, Marine Corps and Air Force master planned developments.

He also most recently served as the President of Simon Properties, a real estate development services firm in Boston.

Mr. Simon began his development experience working on the redevelopment of closed military bases in the mid 1970’s, serving as Executive Director of the Massachusetts Government Land Bank, a state agency created specifically to finance the purchase and redevelopment of former military bases in Massachusetts. He headed that agency through the mid 80’s when he started Simon Properties. He was active in condominium and subdivision development through the early 90’s when he was asked to head up Massachusetts’ redevelopment of Fort Devens, an Army base located 35 miles west of Boston. Ft. Devens was an active Superfund site and required an entirely new master plan, including roads, utilities and land uses appropriate to a long term diversified civilian development.

After 4 years as the Director of Fort Devens, he was asked by the Government of Bermuda to head up the redevelopment of four bases in Bermuda comprising 10% of that country’s land area. He lived in Bermuda for 2 years, becoming the first CEO of the Bermuda Land Development Company.

Mr. Simon returned to the United States where he re-activated his development company, Simon Properties, and undertook an association with the Morgan Stanley Real Estate Fund to make equity investments in private development on closed military bases. From 1998 until mid-2000, Simon Properties also represented the senior management in the construction of a major new office building in Bermuda for the Zurich Financial Services Group.

In 2001-2002, Simon Properties was a part of the successful development team for the former David Taylor Research Facility in Annapolis, Maryland. Mr. Simon served as the primary contact with the Navy and as an intermediary with the county Local Redevelopment Authority. Simon Properties also worked on the redevelopment of McClellan Air Force Base in Sacramento.

As part of the US-Ukraine Bilateral Working Group, Mr. Simon was one of a team of three Americans representing the US Department of Defense designing a military base redevelopment strategy for the Ukraine. The project is being undertaken in collaboration with NATO and involved work both in the US and in the Ukraine.

In addition, in 2002 and 2003 he was a judge for the US Dept of Defense in their Environmental Excellence Awards program.

He and his wife Virginia have three daughters and live in Ipswich, Massachusetts.

MODERATOR:

Michael S. Chesterm.chester@ieee.org , Past Chairman of the IEEE Boston Entrepreneurs’ Network, Serial Entrepreneur, President, International Manufacturing Consultants, has founded and built companies, set up manufacturing operations, formed strategic partnerships, set up global joint ventures, raised over $40M, and commercialized technologies.

Mike is presently co-founder of a startup which is setting up wireless payment and banking systems in China and is a partner and advisory board member of Massachusetts based BioHermes, www.biohermes.com , which forms partnerships between US based biotech startups and Chinese companies to develop medical devices and pharmaceuticals. Mike was VP Business Development for a startup which grew to 142 employees and developed web-based collaborative environments which enabled global electronics companies to speed up time to market. He spent 16 years with IBM designing robots and automation, marketing and selling IBM products to manufacturing companies, setting up global operations and supply chains, and founding an IBM consulting organization for manufacturing clients which he grew into a $20M business.

Mike lived in China from 1986-1987 while consulting to companies owned by the Machine Building Ministry and taught graduate courses at Hunan University.

Mike earned a BS in Electrical Engineering and MS in Computer Engineering from Syracuse University and a MBA from Union College.