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Last chance for the KY Startup Weekend

November 18, 2008

You can still sign up, but you have to be fast.  The Startup Weekend in Lexington, KY is this weekend, starting on Friday evening at 6:00 PM through Sunday night.   Sign up here, and read more details here.

You can read more about the Startup Weekend concept in my recent post.

Written by Marc DeWalle · Filed Under Blog, Media, Start-Up Weekends, Startups |  

Council for Entrepreneurial Development to Support Microsoft BizSpark as Global Network Partner

November 6, 2008

Global Program Fosters the Success of Innovative Entrepreneurs and Startups

Research Triangle Park, N.C. (November 6, 2008) — The Council for Entrepreneurial Development (CED), today announced that it has joined the Microsoft BizSparkTM program as a Network Partner. Microsoft BizSparkTM is a new global program designed to accelerate the success of entrepreneurs and early stage startups by connecting them to a global network of entrepreneurial organizations, such as CED, which provides know-how, networking, mentoring and capital formation resources to new and existing high-growth entrepreneurs through annual conference and programs.

BizSparkTM gives startups fast and easy access to Microsoft’s current full-featured development tools, platform technologies as well as production licenses. These technologies paired with the support from CED will help startups develop and deploy innovative solutions driving the next generation of user experiences.

“Microsoft BizSpark helps remove many of the barriers of entry to the software development tools and technologies, and market resources that are critical components of launching a viable business,” said Joan Siefert Rose, president of CED. “CED is committed to helping entrepreneurs and startups take full advantage of BizSpark to transform their ideas into sustainable, dynamic businesses.”

The BizSparkTM Program provides startups with software, support and visibility at a time when they are most valuable and least affordable—during their first three years, with no upfront costs and minimal requirements.

“We’re really pleased to have North Carolina’s Council for Entrepreneurial Development as a BizSpark Network Partner. CED is located in the Research Triangle Park, which is the tech heart of the state, and they are the leading entrepreneur organization in the region“ said Cliff Reeves, General Manager of the Strategic and Emerging Business Team at Microsoft Corp. “CED works closely with universities like Duke, NC State and UNC, high-tech companies like Glaxo SmithKline, IBM and Red Hat, and dozens of investment companies to generate and nurture entrepreneurship. Microsoft is grateful for the advice, encouragement and support that CED has provided in developing the Microsoft BizSpark Program and we look forward to strengthening our relationship with them over time.”

To be eligible for the Microsoft BizSparkTM Program, startups must be actively engaged in development of a software-based product or service that is a core piece of their business model, have been in business less than three years, and have less than USD$1M in revenue. Startups may enroll in the program by obtaining sponsorship from CED by contacting Dhruv Patel 919.549.7500 x118.  More information about BizSparkTM can be found at www.microsoftstartupzone.com.

About the Council for Entrepreneurial Development
The Council for Entrepreneurial Development (CED) is a private, non-profit organization founded in 1984 to identify, enable and promote high-growth, high-impact companies and accelerate the region’s entrepreneurial culture. Headquartered in the Research Triangle Park, CED is the oldest and largest entrepreneurial support organization in the nation with more than 5,000 active members representing over 1,100 companies. CED provides know-how, networking, mentoring and capital formation resources to new and existing high-growth entrepreneurs through annual conferences, programs and web-based resources. For more information, visit www.cednc.org.

For more information, contact Cassandra Cranston at ccranston@cednc.org or 919.226.0460.

Written by Marc DeWalle · Filed Under Blog, Startups |  

CED Accepting Presenter Applications for the 26th Annual Venture Conference

November 4, 2008

Research Triangle Park, N.C. (November 4, 2008) – The Council for Entrepreneurial Development (CED) proudly announces the launch of the application process for their 26th annual Venture Conference. The conference will take place on April 22-23, 2009 at the Pinehurst Resort in Pinehurst, NC. The first application deadline is December 19, 2008. Final application deadline is January 30, 2009.

In the last four years, Venture presenting companies have raised over $732.31 million in venture capital. This year, CED searches for the same caliber of high growth businesses from North Carolina and across the Southeast looking to raise initial or subsequent rounds of private equity capital. The applicants selected will present their ideas in front of hundreds of venture capitalists, angel investors and other financiers from around the country. CED’s Venture 2009 will also include expert industry speakers, networking opportunities and exclusive investor-only events amidst one of North Carolina’s premier golf club resorts.

“CED’s Venture Conference has consistently been the best run conference on the east coast,” says Jeff Reedy, CEO and president of Overture Networks Inc. “We have been honored to make it through the rigorous selection process and found their advisory approach to preparation to be very helpful to create the most impactful presentation. The conference is a great networking venue and helped us close several fundraising efforts.”

Overture Networks Inc., a leading developer of converged packet access platforms, has closed several rounds of funding after presenting at CED’s Venture Conference. After presenting in 2004, Overture Networks closed a $6 million financing round and after presenting in 2006, they completed a $7.5 million third round of financing.

“Our goal at Venture 2009 is to showcase the very best in investment opportunities from across North Carolina and the Southeast,” said Steve Nelson, general partner with Wakefield Group and chair of CED’s selection committee for the conference. “We welcome any and all innovative and emerging growth companies to apply to present at this exceptional event.”

Because selection is highly competitive, companies are encouraged to submit their applications as early as possible so that they will have the opportunity to receive full consideration. A selection committee of qualified investors selected by CED will review each application. Selection of the presenting companies is competitive and based on the selection committee’s assessment of the company’s written application.

To complete the application online or for more information on the conference, please visit
www.cednc.org/conferences/venture/2009/presenters/.

About the Council for Entrepreneurial Development
The Council for Entrepreneurial Development (CED) is a private, non-profit organization founded in 1984 to identify, enable and promote high-growth, high-impact companies and accelerate the region’s entrepreneurial culture. Headquartered in the Research Triangle Park, CED is the oldest and largest entrepreneurial support organization in the nation with more than 5,000 active members representing over 1,100 companies. CED provides know-how, networking, mentoring and capital formation resources to new and existing high-growth entrepreneurs through annual conferences, programs and web-based resources. For more information, visit www.cednc.org.

For more information, contact Cassandra Cranston at ccranston@cednc.org or 919.226.0460.

Written by Marc DeWalle · Filed Under Blog, Startups |  

LinkingRaleighNC.com

November 4, 2008

Earlier this evening I attended a networking meeting of the LinkedIn group LinkingRaleighNC.com organized by Greg Hyer, the founder of LinkingRaleighNC.com.  The topic of the meeting was “LinkedIn Profile Best Practices for Job Searching” and was attended by 30-40 local LinkedIn users.  A large proportion of the people were job searchers looking for “the next thing” in their career.  Then there were a half dozen headhunters, either as sponsors or as attendees to make connections.  From the comments it seemed that about a third of the people were quite new to LinkedIn, something that totally surprised me since LinkedIn has been a daily part of my online life for several years now.  I think the tips and tricks for getting the most out of LinkedIn that Greg shared were very helpful for the newer users of LinkedIn, although there was nothing new in it for me (sorry Greg).

But the thing that struck me more than anything was that people that have lost a job just go and look for the next….well, job.  No comments about going out on their own, taking the opportunity to start something or getting a couple former colleagues together and competing with your former employer.  I know we’re all nervous about an economy that doesn’t seem to have a bottom and how long it may be till things pick up again.  But I happen to believe there is no bad time to start a business.  The opportunities and methods will vary, but if you just got laid off why not grab the opportunity to strike out.  Perhaps it isn’t for everyone, but then again… neither is working for the man.

Kudos to Greg for the initiative.  Check out his site, it’s a great resource for networking with 2100+ local members.

Written by Marc DeWalle · Filed Under Blog, Startups |  

Startup Weekend in KY set for November 21-23

October 30, 2008

As I mentioned recently, there is a Startup Weekend scheduled for Lexington, KY on November 21-23.   My fellow Startup Blogger Richard Stump of the KY Startup Blog is organizing it and wrote an article about it for the magazine Business Lexington.  There are still openings available: sign up and get all the details here.

Other options to participate in a Startup Weekend:

And if none of that is exotic enough, how about the Startup Weekend in Athens Greece on November 21-23.

Want to organize a Startup Weekend in your own city?  Find out how to do it here.

Written by Marc DeWalle · Filed Under Blog, Start-Up Weekends, Startups |  

Reflecting on the RTP Start-up Weekend

October 15, 2008

The RTP Startup Weekend took place in Raleigh on July 11-13 2008 and was widely reported on, not just here but also by the likes of MSNBC and CNBC.  It’s been three months since then, so I thought it would be interesting to look back and ask one of the participants to reflect on what happened.  I interviewed Taylor Barr, a self-professed social entrepreneur local to the area who talks about his experience with the startup weekend.

NCSUB: What made you decide to participate in the RTP Startup Weekend?

Taylor Barr: I have always been excited about the idea of  eventually creating a sustainable business, let alone in a matter of a few days.  I heard about the concept from a few friends and thought it would be an exciting challenge.

NCSUB: Thinking back, how different was the Startup Weekend from your expectations?

TB: Since this was the first time I had attended a Startup Weekend, and the first one of it’s kind in the Raleigh-Durham area,  I really had no expectations.  I assumed it would be a bunch of intelligent entrepreneurs looking to share ideas and build a useful product or service.  My expectations were exceeded by the amount of participants it drew to the area; some people even traveling from out of state to attend!  I was also amazed at the amount of organization and planning that went into the entire event (a well deserved thanks to organizers Wayne Sutton, Jess Martin, and Jason DiMambro for making it happen.)

NCSUB: How many people did you know going in?  How many friendships did you make that still last today?

TB: Going into the event, I knew some of the organizers and a few others that I met at local networking events.  I was lucky to work on a project with a diverse amount of participants with all types of backgrounds.

NCSUB: What idea(s) did you work on?

TB: I primarily worked on one project during Startup Weekend.  Our main goal and idea was to create the Barsforus.com website.  The website helped consumers take the guesswork out of finding bars and nightclubs that suited their needs.  Maybe the individual is looking for a jazz lounge with outside seating or a place that had great live music and a good wine selection.   The Barsforus.com website shows a map of all the bars in a specific area, allows you to choose criteria based on what you are looking for in a bar, and limits those down to the locations that contains your search criteria.

NCSUB: What role did you play on the team?

TB: I worked side by side in business development and also pitched in wherever I could.  One thing I quickly learned about Startup Weekend was that there were no clear definable roles in each team.  I believe as an entrepreneur you must be adaptable and pinpoint the areas of the project that need work.  Whether it be running around to bars to gather information for a database or just writing an initial pitch for the company, you must be flexible to jump in and contribute.  Most of my time was spent finding answers to questions such as “how can we drive traffic to the site?” or “what would be a sound revenue model for the business?”

NCSUB: What happened to Barsforus.com?

TB: The website is still running today and several of the original members of the team are working to expand the information listed to new cities.  I have since pulled away from the business based on time and my interest in a few other ventures.

NCSUB: Besides starting a business, what are the benefits from the Startup Weekend concept, for yourself and for the startup community?

TB: The Startup Weekend concept and many other events geared towards entrepreneurs are great in the fact that they encourage others to get out and test the waters.  Many entrepreneurs are stuck with the fear that barriers such as time, money, entry to the market, etc. will discourage their ideas from even coming to fruition.  Events such as  Startup Weekends allow individuals to pool together their thoughts and get others to help kick-start their ventures.   Beyond the individual benefits,  I believe Startup Weekend brings together a tremendous sense of community.  I have seen a positive outlook in the startup community both here in North Carolina, as well in other cities across the US.

NCSUB: Was there anything that did not work too well, that should be done differently?

TB: I think many of us who attended Startup Weekend could come up with a few things to do differently.  I myself thought the event came together quite nicely.

NCSUB: Would you participate again or recommend it to others?

TB: Sure.  I would recommend Startup Weekend to others, young and old, who are passionate about working with others to create innovative products and services.

NCSUB: Finally, one that’s a bit of a thinker.  I have found that the people most likely to succeed at founding a startup are strong-minded, individualistic people that don’t fit any structure or organization that is imposed upon them.  Not the type that would easily work in a team, allow their ideas to be diluted in any democratic voting process or follow someone else’s lead.  Yet cooperation, collaboration and team work are so essential to the Startup Weekend concept.   How do you see this potential conflict?

TB: I truly believe that there is not one set of behavioral traits that make a successful entrepreneur.  Many entrepreneurs are in fact, “strong-minded, individualistic people” and many are not.  I consider successful entrepreneurs to possess three traits: persistence, passion, and the ability to inspire others.  In addition to the three traits, they must be able to listen to others and delegate responsibilities (many people discount this part).  If you are able to work with others and share your passion, I think you will be much more successful in the long run.

TB: For most of the individuals I met at Startup Weekend, they truly embraced this concept without letting their personal motives get in the way.

###

If you participated in the RTP Startup Weekend, I welcome your comments and reactions.  And I’m especially interested in hearing what happened to the businesses that were started.

If you missed the RTP Startup Weekend, or can’t wait to do it again, there is a Startup Weekend coming up in Kentucky on November 21-23.  More news about that coming soon!

Written by Marc DeWalle · Filed Under Blog, Media, Start-Up Weekends, Startups |  

Highlights from the Startup Blog Network

October 11, 2008

To wrap up the week, here are a few highlights of what was reported this week across the Startup Blog network.

Next week on the North Carolina Startup Blog:

  • The role of social media in the startup scene
  • Looking back on the RTP Startup Weekend from July 2008
  • Upcoming events at the CEDNC


Written by Marc DeWalle · Filed Under Blog, Startups |  

Startup Profile: Local Eye Site (www.localeyesite.com)

October 9, 2008

I’m a big fan of niche startups.  It allows you to offer something that is very specific to the needs of a small group and people will find you if you make sure you can be found (think SEO).  One such startup in Raleigh, NC, is Local Eye Site (www.localeyesite.com), an online community for eye care professionals.  We spoke with Brad McCorkle, the President of Local Eye Site, to learn more about his new venture.

NCSUB: What is your 30 second elevator pitch?
Brad McCorkle: Local Eye Site is the premier online community for all eye care professionals.  Our mission is to support educational opportunities, foster professional development and enhance communication across all positions and specialties in eye care.  In the process of executing our mission, we’ve developed a significant following of eye care professionals.  The result for our customers is an outstanding place to raise the online awareness of your practice and it’s recruiting needs.

NCSUB: When did you start planning?  When did you launch?
Brad McCorkle: I started planning Local Eye Site(LES) in the summer of 2007, and left my previous job to go full time with it April of 08.

NCSUB: What is the background of you and your team?
Brad McCorkle: I spent 13 years in sales, the last 5 in the Ophthalmic and Optometric industry.

NCSUB: How are you funded?
Brad McCorkle: We raised private funds by selling equity shares in LES.

NCSUB: What is your revenue model?  Are you ad-funded?
Brad McCorkle: We use a recurring revenue model.  We sell annual memberships to eye care practices and organizations.  Members are allowed to post as many positions as they need during the year, as well as, access our database of potential “eye care job seekers.”  We do also sell advertising via banner ads.

NCSUB: How did you determine that there is a demand for the service you provide?
Brad McCorkle: During my time in eye care sales I observed the need for a more effective and efficient way to recruit the kinds of specific training and experience needed in eye care.  Sales reps are often leaned on for recruiting help because the traditional methods aren’t as effective as they need to be.  This experience made it clear to me that a resource like LES could be successful.

NCSUB: How many members do you so far?
Brad McCorkle: Site traffic so far is roughly 16,500 visits by about 10,200 individuals.
1,100 professionals in 33 states have registered for free accounts to our site.  We have 25 paying customers so far.

NCSUB: Is the plan to go national?
Brad McCorkle: Yes, we’re slowly expanding into other states and our plan is to go national.

NCSUB: When do you expect to be profitable?
Brad McCorkle: Our goal is to be profitable in year 2.

Written by Marc DeWalle · Filed Under Blog, Profiles, Startups |  

The inflation of ideas

October 8, 2008

I recently talked about your ideas being worth 2 cents and Jackson Miller’s story.  Turns out there’s a better offer out there and its been scientifically proven.   Fellow start-up bloggers Bradley Joyce and Alexander Muse both found evidence that ideas can be worth $20.

Why $20 and not 2 cents?  Here’s the “formula“.

What does it all prove?  I think if you take all these posts and their arguments together it shows that ideas are essentially worthless without execution.

So if you’re an “armchair entrepreneur” (not referring to someone who starts a business selling armchairs) or borderline disgruntled corporate cubicle occupant, spending many hours sifting through potential business ideas, stop!   Spend no more than 5% of your time picking the idea and the other 95% on executing the idea.  The idea part is the dreaming, the execution is the building.  Build. Build. Build.

Written by Marc DeWalle · Filed Under Blog, Startups |  

Entrepreneurial Training Program

October 6, 2008

I wanted to make you aware of the FastTrac® TechVenture™program at the Council for Entrepreneurial Development.  The next session starts Tuesday October 7th and will provide a great opportunity for those displaced from their jobs to explore a new career path.  Below are some details on the program below.  More than 800 companies have graduated from FastTrac® TechVenture™ since 1999 and have raised more than $400 million in funding. Alumni include:

  • Affinergy
  • Aldagen
  • AlphaVax
  • Advanced Liquid Logic
  • SciQuest
  • Sicel Technologies
  • Targacept
  • And many others!

FastTrac TechVenture is an entrepreneurial training program that addresses the needs of start-up entrepreneurs practicing and refining their business pitches and seeking to grow high-tech, life science, or other high-growth companies. The program combines one-on-one coaching from current and former CEOs and business executives, with top notch lectures from successful entrepreneurs, to create a unique and valuable experience. Qualified entrepreneurs will also have a chance to present their business ideas in front of a panel of angel investors and venture capitalists. FastTrac® TechVenture™ is a product of the Ewing Marion Kauffman Foundation.

The goal of FastTrac® TechVenture™ is to enable you to develop your elevator pitch, business plan and investor presentation in order to effectively communicate your:

* Market opportunities
* Business concept
* Financial plan
* Investment potential

CED’s FastTrac® TechVenture™: Be the Next Big Thing
Dates: October 7 – December 16, 2008 (Tuesday evenings)
Time: 5:30 to 9:00 p.m.
Location: CED Entrepreneurship Center, Suite 106, RTP, NC - Directions
Fees: CED Members $595; Non Members $695
Apply today: www.cednc.org/fasttrac

Written by Marc DeWalle · Filed Under Blog, Startups |  

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