| The economy seems to be picking up, and business | | | | representing, with a room full of lukewarm angle |
| activity seems to be uplifted just slightly. Although | | | | investors. Of those four VC firms only two of them |
| commercial credit markets are still frozen, they are | | | | are really interested in making any kind of a deal. |
| also starting to see at least a little bit of signs of life. | | | | That means in the entire contest only two |
| Meanwhile, many small business entrepreneur types | | | | companies will be funded by the Venture Capitalists |
| have put together business plans and are looking for | | | | and your chances are not very good. |
| venture capital funding. Unfortunately, the venture | | | | Meanwhile, you've made a presentation and you have |
| capitalists realize that things are tough right now and | | | | now given your idea to everyone else involved |
| they don't have very much money in their | | | | including all beyond pursuers who came forth with |
| investment funds and therefore, they are not funding | | | | their own ideas, who might steal yours, modify it and |
| very many deals. | | | | try to go start their own business competing against |
| This will soon change, but right now for every 1000 | | | | your future enterprise. Getting venture capital is a |
| business plans only one is being funded by a venture | | | | major time commitment, and you are taking a risk |
| capital company. Even those people that enter | | | | every step of the way that your idea concept or |
| contests may be competing with two or 300 | | | | innovation will be stolen from you. |
| business plans, and that number is whittled down to | | | | If you do get funding, you better not love what you |
| 150, then to 75 or even fifty to see who qualifies to | | | | are doing so much that you want to do with the rest |
| be in the venture capitalist contest. Each one of the | | | | of your life, because venture capitalists want to |
| presenters goes before a small board of people, a | | | | make 500 to 1000% on their money and they want |
| committee if you will and they are either reject or | | | | to do it within three years and take it public to get |
| accept them into the contest. | | | | theirs. At that point you are out of the picture, so |
| Thus, there may be 25 to 30 that are actually | | | | you better have an exit strategy, and be able to |
| accepted into the contest, each one is allowed to | | | | walk away from your baby and creation. Please |
| give a 10 to 15 minute presentation in front of all the | | | | consider before wasting all your time chasing venture |
| venture capitalists, and there may be only four firms | | | | capital money. |