By guest authors Irina Patterson and Praveen Karoshi I am talking to Kerry Rupp, managing partner at DreamIt Ventures, which is an intense three-month location-based program where entrepreneurs receive seed funding, mentoring and peer support, and introductions to potential investors and partners. DreamIt’s goal is not only to support entrepreneurs’ efforts but to truly challenge
By guest authors Irina Patterson and Candice Arnold Irina: Do you have a preference for capital-efficient companies? Mark: For the most part. We’re in a couple of companies that haven’t been the most capital-efficient businesses, but they’re still great outcomes. We’re not a big enough fund to play in companies that raise $50 million or
By guest authors Irina Patterson and Candice Arnold Mark: It probably takes getting to $20 million or $30 million in sales before a larger technology company would be interested in acquiring a company. You’re going to have to get at least part of the way there. It’s hard to draw a line in the sand.
By guest authors Irina Patterson and Candice Arnold Mark: It’s never too early for an entrepreneur to come and spend time with us. We have an open door. That’s what we love to do. We’re in this business because we love working with any type of entrepreneur. As long as you’re attempting to build a
By guest authors Irina Patterson and Praveen Karoshi Irina: What is your incubator’s business model? How is it funded? Ebony: We get a lot of support from foundations and various grants. We’ve also taken a loan. Our goal is to become a self-sustainable nonprofit organization.
By guest authors Irina Patterson and Candice Arnold Mark: A fair deal has usually been reached when both sides leave the table equally dissatisfied. If one side feels like it leaves that table happy … it’s like a seesaw. Everybody’s got to be equally dissatisfied. If one team is more dissatisfied than the other, then
By guest authors Irina Patterson and Praveen Karoshi Irina: How is the Bizdom U program is different from what you offer? Ebony: They are not an incubator. They have a four-month accelerator program. They accept a small number of folks, and you have to have a full-time commitment. You couldn’t have a job. It is
By guest authors Irina Patterson and Candice Arnold Irina: What factors receive the most weight when debating whether to invest? Mark: It’s a combination of a large market opportunity and a great team. We’re looking for three things: a large market opportunity; a unique and compelling solution to that market opportunity; and a small team