"We have assembled an experienced group of speakers who will inform you about the individual investor market, the venture capital market, and the federal and state programs available for obtaining capital," continues McDermott. The speakers will be answering questions such as:
- Who really is getting the money?
- What types of companies and in what industries?
- How do I attract an investor?
- What do they look for in the management team, market growth, and exit strategy?
- What do I have to know about the terms?
- What will I give up for this money?
- What really is the current environment for financing and where do I find it?
- What types of state and federal government funding programs are available and how do I participate in them?
The speakers include Gordon B. Baty, Joseph J. Donovan, Jr., Noreen A. Dimond, and Carol Dillon. Baty is the general partner in Zero Stage Capital of Cambridge, Mass. Zero Stage is a pioneer in seed and start-up financing and has led to or practiced in over 50 new ventures since 1982. Baty both practices and preaches entrepreneurship. He spent the first 25 years of his career managing three high-tech start-up companies. He taught entrepreneurship at Northeastern university for several years and he is on the boards of several public and private high-tech firms. His most recent book is Entrepreneurship for the Nineties (Prentice Hall). He holds B.S., M.S., and Ph.D. degrees in Finance from MIT. Baty will discuss the different segments of the venture capital industry. He will also discuss the do's and don'ts of approaching venture capital firms. Finally, he will address the types of deals that are now being funded and the terms that a start-up company might expect when dealing with a venture capital firm.
Donovan is the director of Emerging Technology Development at the Massachusetts Office of Business Development in Boston. He was formerly the Executive Director of the Massachusetts Office of Business Development and was appointed by Gov. William F. Weld to the position of Biotechnology Industry Specialist. Donovan previously worked in the Office of International Trade, the Office of Financial Development, and the Office of New Business Development. He received his B.A. degree from St. Anselm College and his M.A. degree from the University of Nebraska. He will provide an overview of the services available to entrepreneurs and their start-up companies at the Massachusetts Office of Business Development which includes providing assistance in accessing federal, state, local, and private financing sources.
Dimond is a Physical Science Administrator for the U.S. Air Force at Phillips Laboratory, Hanscom AFB, Geophysics Technology Division, Plans and Programs. She is responsible for administering programs related to small business including: Small Business Innovation Research (SBIR), Small Business Technology Transfer (STTR), and Cooperative Research Development Agreements. Dimond will discuss these programs and how entrepreneurs can get involved.
Dillon is a partner in Innovative Capital Partners of Waltham, Mass. Innovative Capital Partners is a firm that manages a private venture capital fund which provides seed and early stage capital to start-up business. Innovative Capital Partners also works informally with a number of private investors. Prior to joining Innovative Capital Partners, Dillon worked in the Boston Office of Economic Development and was associated with the Bank of Boston Community Investment Department. She has worked as a consultant to cities and private individuals in creating new businesses and has taught courses in entrepreneurship at Boston University, Radcliffe College, Northeastern, Simmons, Harvard, and the University of New Hampshire.
Dillon's remarks will focus on the private investor or business "angel." She will discuss how entrepreneurs can find private investors and identify the characteristics these investors look for in funding a venture. She will also suggest how to best structure a deal as well as provide tips on how to find the right private investors.
The panelists will be available on an individual and group basis for questions throughout the evening. "This event promises to be valuable for anyone seeking funding in 1995," says McDermott.