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Investor and Demo Day - TECHSTARS - 10 Startups, 175 Investors

TechStars is a mentorship driven investment fund founded by David Cohen, Brad Feld, Jared Polis and David Brown. Ten teams of entrepreneurs were selected from nearly 400 teams who applied to the program. These ten teams have spent the summer in Boulder, Colorado in this startup bootcamp, learning from more than fifty top entrepreneurs from Colorado and beyond. They've attended more than forty organized sessions that have focused on the issues faced by early stage technology companies. Each team has also formed deep relationships with lead mentors who have helped them to shape their ideas and bring them to life this summer.

The ten startups are: GYMINEE, a premier fitness social network for detailed tracking, online accountability and motivation. IGNIGHTER - Wish dating could be as fun (and easy) as going out with your friends? That's why we created group dating...Peoples Software - WhozAround? from PEOPLE's SOFTWARE takes the pain out of making plans with friends, tools plug right into Facebook and your contact list and more... DEVVER, takes the tools that developers already use and turn them into cloud-based services, executing more quickly ... The Highway Girl a traveling music show for the digital age, educates artists on how to manage their careers... APP-X Application Experts provides software as a service to venture captial and private equit fund managers and to pensions... OCCIPITAL is using artificial intelligence to organize your photo stream, enabling vivid recollection with groundbreaking visualizations. BUY PLAY WIN is the world's 1st tournament marketplace. Every shopper gets a chance to win full refunds...  FOODZIE an online marketplace where consumers can discover and buy food directly from small artisan producers... TRAVELFLI helps frequent flyers maximize the full potential of their loyalty programs and discover the value in this hidden currency...  Learn more at TechStars in Boulder, Colorado!   View PHOTOS from the star bright event!

Lots of Innovation and a 30 Billion Dollar Deal Flow on the Horizon

The venture capital syndication environment is not working for some today, but for others it is taking center stage. Stephanie Smeltzer McCoy, Managing Partner at Meritage Funds discusses their new deal flow with Larry as Meritage Funds recently made two exciting new investments. One thing Stephanie feels sure of is now that evaluations are down compared to 2003 and 2004, it is a great time to invest. With the interesting deal flow today and the tremendous amount of innovation, some are comparing this period to the late 1990s. If the market does experience a significant downturn in the next couple years it will have not impact Meritage Funds' investment because they operate and invest with a five to seven year exit plan. By then, the market will be up. Their investments are in the hundreds of millions in US dollars. While the majority of venture capitalists are very cautious about fundraising, Meritage Funds is well on the way of raising its third fund...and a big one at that. They invest in network-enabled service companies, specifically those that leverage networks to enable communication, deliver content and facilitate commerce. Whether you are an investor or an entrepreneur seeking venture capital, you should listen to Stephanie in her own words. She shares some great insights.
Related Links:  Meritage Funds || Venture Capital Channel || CTP Channel ||   PodCast Directory || > Bytes: 11281870 LISTEN 8/18/08

Colorful Leadership: Skill Set for All Leaders, All the Time

We now live and operate at Web speed. The five year plan is out. If you can plan ahead for five quarters, you're doing well.  We must produce more with less. Steve Wille and Bill Kuehn, are partners of Tough Teams are also co-authors of Colorful Leadership along with Larry. When it comes to Leaders, Managers and Entrepreneurs Steve always asks, "Are you looking at the world through rose colored glasses?" Listen to their discussion as it will give specific how-to ideas that can be used right away.  Past frustrations will be understood and then dissipated. You will be able to win with any boss, sell more ideas, and get results that exceed expectations. Simply stated, we all see the world through three filters - future, people, and security.  We prefer to communicate with one filter.  This means, if we communicate through the future filter only people with the exact same filter will receive our message with clarity.  To attain total clarity, we must communicate through all three filters all of the time.  This also explains why we don't understand other people the way we really want to.  If they don’t communicate in our preferred filter we will be confused. Every communication needs to be 3-Filters™ compliant, and there are three simple questions to ask in any situation. 1- What do you think? 2- How do you feel about it? 3- Where can this go? Listen for some great ideas fo all Leaders.
Related Links:  Colorful Leadership ||  Amazon || Tough Teams ||  3-Filters Technology™ ||
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$100K in Angel Money and an Additional $650K with More to Come

"Here’s a piece of advice, don’t waste your time talking to a lot of west coast investors if you don’t have a pre-existing relationship.  Focus your attention on people that know you and have known you in the past, and you’ll find yourself with a lot more traction in a less time,” says Ari Newman and Tom Chikoore co founders of Filtrbox. Mark Weakley, Partner, Holme Roberts & Owen, Boulder has been working with Filtrbox and knew this was the type of story we like to cover. In late summer as TechStars was wrapping up Tom and Ari brought in about $100K in angel money. That carried them through the end of the year when Filtrbox started some serious fund raising for a seed round. "Fund raising takes way longer than most people think, it’s harder than most people think. It’s incredibly stressful and to actually try to run the business and be fund raising – it’s hard to put your head in two places at once. And if you’re a tiny little startup and you have no capital... flying around, trying to meet investors – ooh!  Travel and expense dollars can burn your development budget." So far they have raised around $620K. Their investors are both institutional investors and angels. They have quite a story...listen now..
Related Links: Filtrbox Home || HRO Named Go-To Firm || It's the Law Channel || Holme Roberts & Owen || > Bytes: 12801570 LISTEN 8/18/08

A Venture Capital Firm Targeting the Green Tech Industry

Here is Part 2 of 2: New Perspective on the 10 Immutable Laws for Raising Capital. David Moll was the President and CEO of Webroot and still remains on the board. Today he is the Founder and General Partner of Infield Capital, a Venture Capital firm targeting the Green Tech industry. Although David has his focus, his experience in manufacturing as well as high-tech companies guide his current thinking about raising venture capital. He mentioned to Larry and Pat that the 10 Immutable Laws are the same, but there is a new twist with some of them. His fifth law brings up a big question in the minds of many when they first hear it...it is, 'Don't be the first or last investment in a fund' (although there can be exceptions). The sixth is 'Make sure you have a strong bench' (the team will make the difference). The seventh is 'Make your numbers and the milestones while engaged' (have a strong CFO). The eighth is 'Negotiate everything' (valuation is only one thing). The ninth is 'know how much to take' (more is better). And the tenth is 'Think about the morning after (who is in your foxhole and what did you promise in the process?). David doesn't pull any punches...listen now.
Related Links: Infield Capital || Conscious Economy Channel || CORE || Venture Capital Channel || > Bytes: 15472329 LISTEN 8/18/08

New Perspective on the 10 Immutable Laws for Raising Capital

In 2005 when Larry interviewed David Moll he was the President and CEO of Webroot and still remains on the board. Today he is the Founder and General Partner of Infield Capital, a Venture Capital firm targeting the Green Tech industry. During that 2005 interview, David shared his "Ten Immutable Laws for Raising Capital". Now that David is on the other side of the isle, Larry and Pat wanted to ask him how he looked at those same 10 immutable laws for raising capital. Now that he is a venture capitalist, will his take on them be the same or is the new perspective changing his point of view? Infield Capital has built their fund around a model that really addresses some of the huge requirements of early stage clean technology companies. Recognize the nuances of commercialization of industrial products that wasn’t there for software and high tech. Infield Capital is built on the idea that they can provide unique assistance to the companies that are ready to move from the lab to the production floor. David's first immutable law is 'Make sure you need the cash'. The second, 'know what your options are' and the third, 'choose your investor like you choose your spouse' (David is a winner in both areas) and the forth 'check out the references of your investors'. Listen now in David's own words...
Related Links: Infield Capital || Conscious Economy Channel || CORE || Venture Capital Channel || > Bytes: 14370171 LISTEN 8/11/08

Female Serial Entrepreneur Raises Millions of Dollars

Here's a story about a female serial entrepreneur who literally fell into becoming a co-founder of a couple companies. Jean Kovacs has raised tons of money and in 2006 her company was bought by Sterling Commerce an AT&T company. Lucy Sanders, CEO and Founder of the National Center for Women & Information Technology and NCWIT board member, Lee Kennedy along with Larry Nelson interviewed Jean who had some very interesting replies to their questions. When they were discussing some of her best learning experiences Jean replied," I learned the most from bad managers." That's another way of learning vicariously. Today Jean Kovacs is the Senior Vice President of Corporate Marketing and Strategic Alliances for Sterling Commerce, responsible for driving global strategic alliances, including the AT&T strategic relationship, and all corporate marketing and communications. Kovacs has over 25 years experience directing technology companies and a track record of using her strategic business skills and background to deliver exceptional results with growing enterprises. Jean also is Chair of the board of BUILD, a non-profit that gives entrepreneurial experiences to under-served communities - she believes that all students have the same potential and drive to succeed. The reality, however, is that students in underserved neighborhoods begin with limited, and sometimes no, motivation or role models. Listen now.

Related Links: Sterling Commerce || E-Business Article || NCWIT Channel || NCWIT Practice ||
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Ambitious Companies Not Big Enough for an IPO Have Another Alternative

"Entrepreneurial companies tend to put in their financial plan that their first exit is that somebody will buy them out. And if they’re not going to be bought out, then surely they’ll do an IPO. Neither one of those really take into consideration what the real world is," states Leon Solomon, President and CEO of Premier Capital Alternatives. Our deal size is $2.5 M to $10 M. Our funding process is four steps. The first is to have the legal and accounting documents prepared for filing to the SEC for public trading.  The second step is file to the SEC. The third step is to use a Private Investment in a Public Entity known as a PIPE to raise the cash. The final step is to secure stock volume through the market makers. Premier Capital Alternatives offers an innovative funding mechanism for the developmental or early commercialization companies. Their areas of expertise are medical devices, alternative fuel (not alternative energy), banks, and proven companies seeking to expand their business. This makes their business unique as they fill the capital requirements for ambitious companies who are not substantial enough to qualify for an IPO (usually $25 M) but who seek a capital infusion and want all the advantages of a public company. Listen, there's more...   

Related Links: Premier Capital Alternatives || Venture Capital Channel || PodCast Directory ||
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HB1001 Provides 3 Different Dimensions or Components of Funding

  HB1001: Delighted that CBSA, the legislature and the governor’s office came together to pull an integrated program of bio science development and commercialization for Colorado. We have a 5 year funding, $5.5 mil/year and in almost all cases there will be matching funds, basically $11 million per year program for the next 5 years. It provides 3 different dimensions or components of funding. 1. Proof of concept funding.  2. Matching funding for companies (that’s any kind of non-founder matching. 3. A dimension to infrastructure as concerns University commercialization," said David Allen, Associate VP for Technology Transfer at the University of Colorado. David and leaders from TTO continued to share their insights Kate Tallman, Director of Technology Transfer, Boulder and Colorado Springs Campuses; Tom Smerdon, Director Of Licensing & New Business Development; Rick Silva, Director of Technology Transfer, Anschutz Medical Campuses. To be really successful at Tech Transfer, the organization that does it has to have 5 core competencies. The first is to develop relationships with the faculty such that the investigators will make disclosures to us, in that we can make judgments about a potential asset in that research. Second, Working to protect that intellectual property longer because maturation process is so long. But at the same time, if we get more proof of concept money the maturation period might not be so long. Third is leveraging. Fourth: is the whole notion of the technology maturation, relatively new for us, and we have to rely a lot on people outside.  Fifth: The last, we do an exceptional job, compared to other universities.
Related Links: 2007-08 Metrics Report || CU TTO Home || CU TTO Channel || Find It ||  > Bytes: 16327892 LISTEN 8/11/08

Colorado Success Stories; Industry; Education; Government

In part 2 of this series about the 2007-08 Metrics Report at CU TTO, a number of success stories are highlighted. Listen and you'll hear about Sierra Neuropharma, Precision Biopsy, Tissue Genetics, ARCA, Apoplogic, Barofold, Copernican Energy and more. Four leaders from TTO continued to share their insights: Dave Allen, Associate VP for Technology Transfer; Kate Tallman, Director of Technology Transfer, Boulder and Colorado Springs Campuses; Tom Smerdon, Director Of Licensing & New Business Development; Rick Silva, Director of Technology Transfer, Anschutz Medical Campuses. The transformation into renewable energy economy is having a great impact on CU. There has been some interesting leadership involvement with the Collaboratory. The Collaboratory has been active in the last couple of years  in bringing together several research centers among the four institutions (CU, CSU, Mines & NREL). CU TTO has also formed Over the past couple of years we’ve formed a strong relationship with the (BIC) the Boulder Innovation Center. Listen for more details...
Related Links: 2007-08 Metrics Report || CU TTO Home || CU TTO Channel || Web Community Calendar || Bytes: 13492039 LISTEN 8/4/08