While the recession is taking its toll on jobs, there has been no shortage of good new technology-based business ideas. Simply having a great idea, however, is not enough. Taking an idea from conception to the creation of a successful technology company is no small feat. It takes a strong team and a diverse skill set to be successful. As Director of Entrepreneurial Services, I try to help entrepreneurs become successful. There is no guide book as each company and opportunity is unique. I draw upon my experiences of 25 years commercializing technology and upon a network of professionals. I have a strong allegiance to Akron, the city where I grew up, and a vested interest in seeing Northeast Ohio prosper.
In order to get a glimpse of my typical day, take a look at a few highlights. My first meeting is with a company whose vision is to produce high-value nutraceuticals from algae. I learn that these entrepreneurs know the young industry well, having studied both the organism and the markets their products can serve for over two years – most of it unpaid. They have come to see me not only because of the reputation I have developed for giving sound business advice but also because the price is right. The City of Akron and the State of Ohio combine to make consultants’ services like mine free so that young companies can get the advice they need without further financial obligations.
Today, I have arranged a meeting with an intellectual property attorney who provides free consultations for some of my clients. We spent an hour talking through a strategy for licensing negotiations with a major university. We discussed how to obtain the right to practice an enabling technology quickly without appearing overanxious and driving up the price. Next, I critiqued an executive summary which will be used to state the company’s need for investment to area Angel investors. The document is intended to pique the investor’s interest enough for a personal meeting, the first of a multiple step diligence process to secure seed funding. Typically $250 thousand to one million dollars are needed to get a technology company started. This is not to be confused with the millions still needed in subsequent funding to enable the emerging company to ultimately survive and be profitable.
The next meeting is with a young company that has already passed a validation test with the US Air Force demonstrating that their analytics software saves millions of dollars, and potentially lives, in their fix of a nagging operational problem for a trainer jet. A Pentagon general is now in their corner. Amazingly, this still isn’t enough to commence business. We are meeting today with a consultant who specializes in negotiating the maze of obstacles in the arena of doing business with the Government.
Next, I make a pitch to an area angel fund deal flow committee on which I serve on behalf of both companies I met with this morning via email. Tomorrow, the committee will choose the finalists to speak at their next event, a meeting at which selected companies can present their opportunity to a roomful of investors. I cannot be there to present my clients in person as I will be listening to seven companies make their pitch to a new cleantech fund. I craft my words carefully in an effort to convey the passion of those I represent. I am hopeful that they will be read in a thoughtful manner.
Finally, I learn that another client of mine who designs wireless network software received a “no” from an innovation fund offered through a regional college. This fund has become known as the place to go for entrepreneurs who are not quite ready to pitch to Angel investors. The opportunity to access $100K helping to bridge what is known as the “valley of death” to young technology companies has made this fund quite competitive. Not a great way to end the business day yet I remind myself that tomorrow is new day with fresh opportunities.
The key to success as an entrepreneur is persistence and hope that the victories outweigh the failures in the end. As a champion for these entrepreneurs, I will go to work tomorrow believing that we can achieve another victory.
Subscribe to:
Post Comments (Atom)
Hello! I think these information Will be helpful for you.
ReplyDelete8allafricagames.org
sportrodelnschweiz.ch
Thank you!
This is my blog. Click here.
ReplyDeletechateaubriantvoltigeursfoot"
stateronline"
A good blog is useful.
ReplyDeleteshalasha.net/หวยออนไลน์/
shalasha.net/ป๊อกเด้งออนไลน์/
Welcome to the new world.
ReplyDeletethidet
chelsea24hr
Your content is nothing short of brilliant in many ways. I think this is engaging and eye-opening material. Thank you so much for caring about your content and your readers Feel free to visit my website;
ReplyDelete야설
This website has very good content. Thank you for the great article I did enjoyed reading it, I will be sure to bookmark your blog. It is really very nice and you did a great job ! Feel free to visit my website; 한국야동
ReplyDeleteThanks for sharing.I found a lot of interesting information here. A really good post, very thankful and hopeful that you will write many more. Thanks for writing such a good article, I stumbled onto your blog and read a few post. I like your style of writing... Feel free to visit my website; 일본야동
ReplyDeleteYes i am totally agreed with this article and i just want say that this article is very nice and very informative article.I will make sure to be reading your blog more. You made a good point but I can't help but wonder, what about the other side? !!!!!!Thanksสล็อต 999
ReplyDeleteThis is my first time i visit here. I found so many interesting stuff in your blog especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the enjoyment here keep up the good workสล็อตวอเลท
ReplyDeleteI think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article.สล็อตแตกง่าย
ReplyDeleteIf you are looking for more information about flat rate locksmith Las Vegas check that right away.บา คา ร่า วอ เลท
ReplyDeleteNice to be visiting your blog again, it has been months for me. Well this article that i've been waited for so long. I need this article to complete my assignment in the college, and it has same topic with your article. Thanks, great share.บา คา ร่า วอ เลท
ReplyDeleteThanks for sharing the post.. parents are worlds best person in each lives of individual..they need or must succeed to sustain needs of the family.สล็อตเว็บใหญ่
ReplyDeletePretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I'll be subscribing to your feed and I hope you post again soon. Big thanks for the useful info.บา คา ร่า วอ เลท
ReplyDeleteYou make so many great points here that I read your article a couple of times. Your views are in accordance with my own for the most part. This is great content for your readers.สล็อต ฝาก-ถอน true wallet ไม่มี บัญชีธนาคาร
ReplyDeleteVery informative post! There is a lot of information here that can help any business get started with a successful social networking campaign.บาคาร่าวอเลท
ReplyDeleteI have read all the comments and suggestions posted by the visitors for this article are very fine,We will wait for your next article so only.Thanks!สล็อตทรูวอเลท
ReplyDeleteTook me time to read all the comments, but I really enjoyed the article. It proved to be Very helpful to me and I am sure to all the commenters here! It’s always nice when you can not only be informed, but also entertained!สล็อตแตกง่าย
ReplyDeleteHey what a brilliant post I have come across and believe me I have been searching out for this similar kind of post for past a week and hardly came across this. Thank you very much and will look for more postings from you.สล็อตxo
ReplyDeleteThank you for taking the time to publish this information very useful!เว็บสล็อต
ReplyDeleteI can see that you are an expert at your field! I am launching a website soon, and your information will be very useful for me.. Thanks for all your help and wishing you all the success in your business.เว็บสล็อตเว็บตรง
ReplyDeleteI read a article under the same title some time ago, but this articles quality is much, much better. How you do this..เว็บตรงสล็อต
ReplyDeleteIt proved to be Very helpful to me and I am sure to all the commentators here!เว็บ ตรง
ReplyDeleteMost of the time I don’t make comments on websites, but I'd like to say that this article really forced me to do so. Really nice post!เกมสล็อต
ReplyDeleteI learn some new stuff from it too, thanks for sharing your information.สล็อต เว็บ ตรง
ReplyDeleteInteresting topic for a blog. I have been searching the Internet for fun and came upon your website. Fabulous post. Thanks a ton for sharing your knowledge! It is great to see that some people still put in an effort into managing their websites. I'll be sure to check back again real soon.สล็อตออนไลน์
ReplyDeleteI can see that you are an expert at your field! I am launching a website soon, and your information will be very useful for me.. Thanks for all your help and wishing you all the success in your business.สล็อต 999
ReplyDeleteGreat write-up, I am a big believer in commenting on blogs to inform the blog writers know that they’ve added something worthwhile to the world wide web!..สล็อตวอเลท
ReplyDeleteI havent any word to appreciate this post.....Really i am impressed from this post....the person who create this post it was a great human..thanks for shared this with us.สล็อตแตกง่าย
ReplyDeleteI know your expertise on this. I must say we should have an online discussion on this. Writing only comments will close the discussion straight away! And will restrict the benefits from this information.บา คา ร่า วอ เลท
ReplyDeleteAdmiring the time and effort you put into your blog and detailed information you offer!..สล็อตเว็บใหญ่
ReplyDeleteVery nice article, I enjoyed reading your post, very nice share, I want to twit this to my followers. Thanks!.บา คา ร่า วอ เลท
ReplyDeleteThis article gives the light in which we can observe the reality. This is very nice one and gives indepth information. Thanks for this nice article.สล็อต ฝาก-ถอน true wallet ไม่มี บัญชีธนาคาร
ReplyDeleteReally a great addition. I have read this marvelous post. Thanks for sharing information about it. I really like that. Thanks so lot for your convene.บาคาร่าวอเลท
ReplyDeleteGreat Information sharing .. I am very happy to read this article .. thanks for giving us go through info.Fantastic nice. I appreciate this post.สล็อตทรูวอเลท
ReplyDeleteThis article gives the light in which we can observe the reality. This is very nice one and gives indepth information. Thanks for this nice article.สล็อตแตกง่าย
ReplyDeleteI haven’t any word to appreciate this post.....Really i am impressed from this post....the person who create this post it was a great human..thanks for shared this with us.สล็อตxo
ReplyDeleteI appreciate everything you have added to my knowledge base.Admiring the time and effort you put into your blog and detailed information you offer.Thanks.เว็บสล็อต
ReplyDeleteInteresting post. I Have Been wondering about this issue, so thanks for posting. Pretty cool post.It 's really very nice and Useful post.Thanksเว็บสล็อตเว็บตรง
ReplyDeleteI’ve been searching for some decent stuff on the subject and haven't had any luck up until this point, You just got a new biggest fan!..เว็บตรงสล็อต
ReplyDeleteI just found this blog and have high hopes for it to continue. Keep up the great work, its hard to find good ones. I have added to my favorites. Thank You.เว็บ ตรง
ReplyDeleteThis type of message always inspiring and I prefer to read quality content, so happy to find good place to many here in the post, the writing is just great, thanks for the post.เกมสล็อต
ReplyDelete