by Art Seaborne
Chief Think Officer at American Venture Capital
We recently attended a StartUp event sponsored by a newly launched Innovation Lab. The day long event was well organized with over 500 entreprenuers, investors, students, mentors and presentors.
Like many Demo Days, the anxiety of the presentors was elevated by the participation of Kevin Harrington of the ABC “Shark Tank” TV program, as one of the judges.
As the day progressed, we watched six new start up companies pitch their ideas, and then watched six students present some early stage concepts yet to be developed. Each group was mentored through a boot camp process and then vetted and selected to present.
There were several interesting business models and all the presenters did a nice job of introducing their concepts to the audience.
However, something was missing! We call it “Rock Star” capital…………………….
The competitive landscape for capital is enormous, and new startups need an edge. Why not enroll some industry experts? These experts are your needed Rock Stars.
Most Venture Capital firms invest in people first and widgets second. Ideally, everything goes as planned and everyone makes lots of money. Alternativly, Murphy’s Law or some other disruptive technology creates an insurmountable obstacle and you have to abort your widget. You are still left with a fantastic team, supported by mentors, advisors and Rock Stars. What an opportunity to reinvent a new widget!
In summary; Rock Star experts are all around and love to give there professional advice. They can easily be found on LinkedIn or various industry panels. We believe these industry experts are open to sharing their knowledge and their connections. Simply ask,“If the right opportunity came along, would you be interested in being one of our advisors?”