Raising Money from Venture Capitalists
As an entrepreneur, you may have a good business idea addressing a real need in a large and growing market, one that possesses the disruptive technologies, consumer attributes or societal impact that investors are looking for...but will your business be funded? What are those key considerations investors focus on that compel them to do the deal?
Our panel of venture capitalists and entrepreneurs will guide you to a better understanding about positioning your company to be an attractive investment and identify critical milestones to gain a preferred entrée to venture capitalists. They will provide insight about investor perspectives, due diligence, and which deals their firms are funding today and why.
The panel will help the audience to explore some key questions: Are you doing the right things to position your business to be funded? What are the prerequisites to approach venture capital? Where do revenue and market traction factor into the funding decisions? Is now a good time to raise venture capital? And more!
Over the last 29 years, Mark http://www.linkedin.com/in/mbgalvin has been part of eight startups. He founded and operated six of these companies as CEO. They have run the gamut from fourth generation PBX, OEM ISDN subsystems, dial access routers, high density HFC/DOCSIS VOIP network switching equipment, and SMB premises-based IP-PBX with national phone services (ZTEL, LAN-TEL, CCD, PRI, RAScom, Cedar Point Communications and Whaleback Systems).
Mark's last company, the New Hampshire Innovation Commercialization Center (http://www.nh-icc.org), is a technology business accelerator built with the support of the University of New Hampshire, the Department of Commerce Economic Development Agency, the New Hampshire Community Development Finance Authority, and a dedicated staff of successful serial startup company management team members.
Mark recently left the NH-ICC to build a different model for the acceleration of innovative new companies that embraces the culture of the startup, proliferating disruptive products and services in the pursuit of profits, while rejecting offers of direct public assistance. The New England Innovation Center, located in Portsmouth, NH is the operating entity for a limited partnership of investors that have created a center for nurturing some of the best new companies and entrepreneurs in New England.
Mark is one of very few entrepreneurs who have received training as a Lean Launch Pad Educator from the inventor of the methodology, Steve Blank, at the U.C. Berkeley Haas School of Business. This methodology codifies real-world, hands-on, immersive learning about what it takes to transfer knowledge successfully into products and processes that solve pain points for targeted customers. By combining this with knowledge gained as a true serial entrepreneur, and leveraging his extensive relationships within the New England startup economy, Mark has helped dozens of companies get started on proper footing.
Mark serves on the boards of Unified Office, Regaalo, and Innovacene, and on the boards or advisory boards of non-profits such as NH Stay, Work, Play; the Portsmouth Chamber of Commerce; Great Bay Community College; the UNH Computer Science department; and the Education Committee of the NH High Tech Council.
Mark studied math and computer science at the graduate and undergraduate faculties of McGill University in Montreal from 1978 through 1983.
Todd invests broadly in information technology businesses, with emphasis on companies that use “deep” technology to create commercial value. Currently, he serves on the board of directors of four companies. He is also a contributor to Forbes.
Before co-founding New Atlantic Ventures in 2006, Todd was a managing partner of DFJ New England Fund. Previously, as senior vice president with The Boston Consulting Group, he managed two venture portfolios, built the technology and communications practice to $100 million of revenue, and managed the firm’s information technology and knowledge management functions.
Todd earned his BA in Physics from Princeton University (summa cum laude and Phi Beta Kappa) and his MBA from Harvard Business School, where he was a Baker Scholar.
Ms. McQuilken is an Early Stage Investor/Board Director. She joined Intel Capital in 2004 and specialized in consumer internet investments including social media, gaming, mobile web, ecommerce, location based services, and advertising supported businesses. Prior to Intel Capital, she was founder and CEO of Groove Mobile, a leading provider of mobile music services (acquired by NMS Communications). She is currently a Board Member at Fetchnotes.
Prior to Groove Mobile, Ms. McQuilken worked for nine years at Agilent/Hewlett Packard as a key account sales manager, product manager, engineering manager, and manufacturing manager. Earlier in her career she worked as an ASIC design engineer at Analog Devices and a Product Engineer at AMD.
Ms. McQuilken holds a BSEE from Duke University and an MBA from Clark University.
Energy Harvesters is commercializing the Walking Charger™, an off-the-grid portable power source integrated within footwear to charge portable electronic device batteries as you walk or directly power applications such as footwear heaters and GPS locators without the need for batteries. Larry is also managing director of Technology Associates & Alliances "http://www.taacorp.com", an investment and management advisory firm he formed to commercialize technology. Larry has helped launch ten companies, serving as CEO and in executive capacities.
Larry is past chairman of the Boston Entrepreneurs' Network and was a founding board member of the North Shore Technology Council. He created, and chairs, the EntreTech Forum to address the commercialization of university and government technology..
Larry has held management positions at Arthur D. Little, Textron and Foster-Miler. He received a BSME and an MBA from Northeastern University, is a Phase 2 proposal Grant Reviewer for the National Science Foundation, and has held a Top Secret clearance.
Our Product /Service
Our StreamX product is an EMC, Google, Hadoop system on steroids for streaming data.
It creates a toolset for acquiring, storing, finding, mining, and effectively using Big Smart data. Our product can be seen as private cloud storage system with a customizable search engine and massively parallel execution engine. – We let our users create knowledge from their data and then use that to run analysis based the search results.
Our Market and there is a real race out there
Initial market is safety critical autonomous vehicles especially automotive and UAV. The active safety and autonomous vehicle market is exploding, but there are no good tools to help the companies effectively develop, test and certify their systems. There are about 200 new car models on the US market alone each need testing and certification. Our system will significantly reduce their 4-6 year development cycle and we can become the standard for certification.
Second market is the emerging large data analytics. Our system is the perfect tool for analyzing data that is not textual and which meaning need to be computed. Examples of those markets are pipeline inspection, city surveillance, coastal and border defense and more. Estimates of the BIG DATA market is in the $25B annual, we address a GREEN SPACE working with streaming measurement and video data.
We are looking for angel or venture investment of $500K to $1M to ramp up sales and solidify our leadership position in the automotive market as well as to develop the commercial and defense big data opportunities. The funds will be used to build the sales force, develop marketing and add full time QA to engineering. We will grow the business form current $3M to $40 within 3 years and become the market leader in our field.
Feedback We seek from the panelists of the day
We would like help with clarifying the product and markets to allow for a condensed explanation. Our market and product is hard to condense to a few sentences.
Ideas on fundraising and valuation of the company would be appreciated. We have an international business and a distributed team. Should we separate the offerings?
Founder Contact Information
Dr. Mikael Taveniku: Entrepreneur with 25+ years of experience product strategy, international business, complex systems, machine learning, radar, sonar, and high performance computing. Ph.D. CSE, M.Sc. CE, M.Sc. C.Sc., Undergraduate ME, Swedish Army, 2lt. Combat Engineer.
Mr Christian Wigren: Entrepreneur with 25+ years of expertise in Automotive and telecommunications engineering, building and running business units. M.Sc. C.Sc. and CE, B.Sc. Mathematics
Please contact Mikael Taveniku at +1(978)394-6199, or email firstname.lastname@example.org
5:15 PM Pre-meeting Self-pay Dinner Bertucci's Restaurant 475 Winter St., (exit 27B off Route 128), Waltham, MA ("pay-as-you-go")
7:00 - 10:00PM Meeting Presentation Note: Meeting at the Foley Hoag Emerging Enterprise Center, 1000 Winter Street, Suite 4000 (north entrance), Waltham, MA Directions to the EEC at Foley Hoag
New entry policy: The doors to the north entrance of 1000 Winter Street are locked at 7:00 pm. For admittance after 7:00, please use your cell phone to call the number that will be posted at the door. Thank you.