At the very first Innovate! and Celebrate conference, cofounder of Malartu Funds and the TechCo Index Fund, Jon Spinney, sat down with panelists to talk all about funding: how to get it, where to get it, and when to get it done. The biggest takeaway from the panel: Stop focusing too much on venture capital — there are many other options out there.
Take Venture Funding Off the Pedestal
The panelists included Cheryl Foil, principal at Kidder Capital; Ari Newman, partner at Techstars; and Sarah Kunst, founder and CEO of Proday and an investor. According to Newman: From angel funding to crowdfunding, startups nowadays have a wide variety of options when trying to put together the capital needed to operate their companies. But regardless of whatever route they pursue, Newman adds that it’s important to think long and hard (like, really long) before deciding to raise money.
The Best Capital-Raising Practices
The investors on-stage also gave their pro tips on how to successfully raise that capital. While Twitter may not be popular with the general population, it’s key when trying to build relationships with potential investors. Outside Twitter, it’s important to build real relationships with potential investors. So, whether that’s going out for lunch or going out on a hike together, you have to fully invest in the relationship in much the same way you would your current friendships. Building these relationships ahead of time and updating them on your company’s status way before you actually plan to raise funding are imperative if you want your funding round to succeed. To learn more about what went down at the panel, you can watch our video recording of it below.
