Early Stage Financing Overview for Tech Startups

Early Stage Financing for Tech Startups Overview for SCORE Seattle May 11, 2010 Chris DeVore General Partner, Founders’ Co-op [email_address]

Agenda ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Chris DeVore ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Founders’ Co-op ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What I know (and don’t) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],“ Stick to a narrowly-defined circle of competence” - Charlie Munger, Berkshire Hathaway

What I believe ,[object Object],[object Object],[object Object],“ The probability of an entrepreneur getting venture capital is the same as getting struck by lightning while standing at the bottom of a swimming pool on a sunny day.” - Guy Kawasaki Raising $ ≠ Success

Who should try to raise $ ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Funding landscape (I) Low Friends + Family Angels + Networks Seed Funds Venture Capital High Early (Idea + Team) Late (Rapid Growth) SCALABILITY STAGE Bootstrap The Funding Chasm Bootcamps

Funding landscape (II) ,[object Object],[object Object],[object Object],[object Object],“ Hard” software startup costs  zero + VC fund sizes  $Billions = Terminal misalignment of goals + incentives

Definitions Type Description Examples Bootstrap ,[object Object],[object Object],Friends + Family ,[object Object],[object Object],Bootcamps ,[object Object],[object Object],TechStars Y Combinator Angels + networks ,[object Object],[object Object],[object Object],Alliance of Angels Bellingham Angels Seed Funds ,[object Object],[object Object],[object Object],Founder’s Co-op 2 nd Ave Partners Venture Capital ,[object Object],[object Object],Madrona Ignition

How to ask for $ ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Questions? ,[object Object],[object Object],[object Object],[object Object]

Local Resources ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Early Stage Financing Overview for Tech Startups

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