For many entrepreneurs, the idea of actually doing the heavy lifting required to build a whole company is daunting. It often means getting out of your comfort zone and preforming tasks that you may not know how to do. If you're a first time CEO, it is difficult to understand the nuance of how to successfully raise investment capital. Do you know how to run a company off a P&L budget? Are you experienced at hiring the right people but also firing fast when they don't fit? How knowledgeable are you on creating and managing a banking relationship? And these are just the tip of the iceburg. If these are not the things you want to deal with, then an incubator may be right for you.
At Venture Velocity we can put an executive team in place, raise the seed round, and get a new product to market fast. That's because our members cover all the different business disciplines and have all "been there and done that." We then look for an exit event within 24-36 months.
What is the Process?
- We review the opportunity.
- We structure the capitalization of the company.
- We assign a CEO.
- We bring in the $250,000 initial seed capital.
- We build a board (Chairman, founder, investor).
- We assign tasks (operations, manufacturing, business development, marketing, etc.).
- We launch and build a whole company.
What is Required?
- The product must be complete or close to completion.
- The founder must agree to the terms of the structure and contract.
- There must be a substantial national or international market opportunity.
- There must be IP opportunities.
- There must be some distinct product benefits from the competition.
- The Venture Velocity members must vote to take on the project.