Funding Options for High Tech Entrepreneurs

FountainBlue was pleased to host a High Tech Entrepreneurs' Forum on Alternative Funding Options for High Tech Entrepreneurs on Monday, November 13, 2006. Featured panelists included Dirk Michels, Partner, KLN&G; Jake Schwarz, Partner, KLN&G; and Ed Lambert, Senior VP, Bridge Bank.

Below is a Summary of Notes and Advice for early stage, pre-Series A, seed funding, drawn on the wisdom of our facilitators and each of you as participants.

• There is a lot of venture money right now, but in general entrepreneurs need to have a beta test, prototype or product launch in order to be fundable.
• To achieve the beta test, prototype, product launch phase, entrepreneurs need a first level of funding. Alternative funding options include: Credit Cards, Friends & Family, Home Equity Loans, SBA Loans, Purchase Order Financing
• If your company survives that level, the next lefl of financing includes: Grants, Forums, Contests
• At all times, encourage organic growth and bootstrapping to continue to grow the business. Not only will your successes in organic growth and bootstrapping successes look good for your fundraising efforts, your very successful efforts might even overcome the need to raise money
• One option for raising money is through customer orders. If choosing this option: 1) Make sure that you don't become a contract engineering firm rather than a product development and distribution firm (e.g. don't let the customers get in the way of delivering your business objectives), 2) Protect your IP
• Leverage your connections and previous successes. Your track record and connections will increase your likelihood of getting funding.
• When you're ready to seek outside funding from angels and other sources, have a concise executive summary: See Bill Joos' (previously from Garage.com) Nine Points on creating a compelling summary

http://www.brendonwilson.com/projects/the-art-of-the-start/the-art-of-positioning-and-presenting/ or Visit http://www.svase.org/index.php?option=com_elist&Itemid=249 and select the 10-slide PowerPoint slide template, courtesy of SVASE

For more information, visit http://www.FountainBlue.biz.

Fostering Women Entrepreneurship in Developing Countries

FountainBlue is pleased to produce a When She Speaks session on Fostering Women Entrepreneurship in Developing Countries featuring facilitator Linda Alepin, head of the Global Women's Leadership Network, panelist Remi Matsumoto, Founder and President of the Hina Coral Restoration Network and panelist Praveena Varadarajan, Director of Engineering at Sun Microsystems.

Below is a Summary of Notes and Advice for your reference, drawn on the wisdom of our facilitators and each of you as participants.

We in Silicon Valley are sheltered from the realities of the difficulties of others in developing countries

• Men and women from around the world life for under $2 a day
• There is a gender gap in entrepreneurship, over 1 in three entrepreneurs are women. Visit http://www.genconsortium.org for more information
• Women entrepreneurs are more likely to share their wealth and experience with their families and larger community.
• Where women are empowered, the country's general economy benefits

Companies and leaders benefit from fostering entrepreneurship

• It builds a larger target market
• It encourages partnerships
• It stimulates and rewards results-oriented entrepreneurial thinking
• It encourages and supports innovative thinking

As leaders, we need to foster entrepreneurship

• Encourage hard-working, committed, resolved and focused entrepreneurs - the drive is imperative to success
• Expose potential entrepreneurs to hear great leaders speak. This can spark a vision, drive, and the entrepreneurial spirit and also help budding leaders to build connections.
• Encourage respectful debate - it stimulates critical and innovative thinking and building of bonds and connections between like-minded people
• Provide support structures and educational opportunities
• Work with technology organizations to encourage providing technology solutions to entrepreneurs around the world
• Encourage compassionate dialogue between countries, organizations, leaders, to develop empowering, collaborative, win-win solutions in support of successful entrepreneurial ventures, providing tangible results
• Encourage the creation of social treaties, alongside the political treaties
• Look for opportunities to encourage more women participation in entrepreneurial ventures
• Encourage the sharing of women's stories; leverage technologies for easy distribution of these compelling stories

Take Action

• Social entrepreneurship - innovative solutions for one of society's pressing problems coupled with action. Includes a model, an approach, a strategy for proliferation.
• Identify the many groups in the region and in the world support the cause of women entrepreneurship:
• Global Women Leadership Network: Whole Woman, Whole Leader, Whole World, http://www.gwln.org
• One World Children's Fund, http://www.owcf.org/
• Global Fund for Women http://www.globalfundforwomen.org
• Anita Borg Institute http://www.anitaborg.org/index.php
• E-mail us at info@FountainBlue.biz if you would like to join us in an ongoing effort to collaborate between technology companies in Silicon Valley in support of fostering women entrepreneurship in developing countries

For more information, visit http://www.FountainBlue.biz.