Making Entrepreneurship Easier
Transcript of Making Entrepreneurship Easier
Our mission is to help small businesses
grow and prosper in regions across the country by providing business owners easy access to needed services.
• Easy access to resources• Increased awareness of
resources• Solid partnerships to fill gaps• Measured impact
Make Entrepreneurship Easier
Make them Visible Strengthen Network
Calendar
Resource NavigatorHotline
Training
Capital
Work Space
Identify and Fill Gaps
Identify Assets
Building an ecosystem
• Social Media
• Referrals
Promote
• Community• Partner
Meetings
Engage• Hotline• Facilitated
discussions
Listen
• Identify and Report Gaps
Respond• Programs
to fill gaps
Collaborate
Finding and filling gaps
1 Build the Network Number of partnersMilestones
website, calendarResource Navigatorpartner meetings
2 Activate the Network Network Accessweb visitshotline calls
Resource Navigator searches
Network Strengthpartnerscalendar eventssatisfaction survey results
Network Reachfriends and followerssources of traffic
Measuring progress
3 Leverage the Network Gap reports
Collaborations
partner involvement
fundingJobs, starts, debt/equity, sales
4 Drive the ecosystem Data reports
Leveraged funding $$
New programs
Dashboard
Be the difference in your community
Gap
Partners
Collaborative
Funding
Program
Results
Measuring a Successful Collaboration
46 proof-of-concept projects
23 new companies
$17.7 million follow-on funding
181 new jobs created, nearly $5.5 million in total salaries
$7 million in total sales
18 patent applications
4 successful exits
…in two years
Proof of Concept
Funds
15
$2.1 Million
Product: We Create Capital Solving the Funding Gap for Early-Stage Companies
Information on “funding the funds” Review of debt and equity infrastructureFinding holesRecommendations of how to fill them
Source Loan Size
<$1,000 $0-50,000$50-
250,000up to
$350,000up to
$500,000up to $5M
Personal Emergency Loan x Secured credit cards x Credit building loans x Microloans x Community Advantage x SBA bank loan guarantees x
Small Loan Advantage x SBA Express x SBA Veterans Adv. x Export Express x 7(a) xCap Lines xInternational Trade xExport Working Captial x
SBA 504 Loans x
Non-bankable Bankable with guaranteesStrategically building early-stage debt infrastructure
Deals by year by series<$1M $1-3M $3-7.5M $7.5-10M $10-20M
2009 2010 2011 2012 2013 20140
20
40
60
80
100
120
Preseed Seed Series A Series BSeries C Mezzanine IPO
Sources of Funds 2009-2013<$1M $1-3M $3-7.5M $7.5-10M $10-20M
Note: not all investors are disclosed
KC Area MO/KS Nebraska Outside Region0
10
20
30
40
50
60
Preseed Seed Series A Series B Series C Mezz
Mezzanine
Series C
Series B
Series A
Seed
Preseed
0 5 10 15 20 25 30
Funded CompaniesWho Received Assistance
2014
None Assistance
IPO
Mezzanine
Series C
Series B
Series A
Seed
Pre seedDigital Sandbox KC, SBIR, MTC IDEA Funds, SparkLabKC
Angels, InvestMidwest, OpenAir, Five Elms
Angels, Individuals
October Capital
C3, TGP
Who is funding what?
Are you using every mechanism available to fund early-stage companies?
….U.S. Treasury
SSBICCDFINMTC
SBAMicroloanSBICSBIRLoan guarantees
BanksSmall business loans…