LaunchPad Long Island Accelerator Officially Blasts Off

Lauch Pad Long IslandThe countdown for accepting applications for LaunchPad LI’s Summer 2013 Accelerator Program has begun. Applications are now being accepted thru May 17, 2013. We will review and select applicants to come in for interviews on a rolling basis. We will notify all accepted applicants by the end of May. The Summer 2013 Class will begin on June 3rd and launch with a Summer Blast Off Party!

What you will get out of the LaunchPad Accelerator Program:

  • Mentorship 
  • Seed funding
  • Free office space
  • Exposure and Access to investors
  • Legal, Financial, Business Development, Marketing & Sales Support
  • Fun Experiences & Lifelong Lessons

Suffolk IDA’s “Start-Up Connect” Event

Start-Up Connect an IDA EventJoin the Suffolk County IDA at their “Start-Up Connect” event on April 10 from 6pm to 8pm at the Paramount in Huntington Village.

You can RSVP at http://www.suffolkida.org/event-sign-up.

Start-ups will be able to “Connect to Capital, Connect to IDA Companies and Connect to Government”.

Our April 10 lineup includes County Executive Steve Bellone, Deputy County Executive for Economic Development Joanne Minieri, IDA Executive Director Anthony Manetta, Huntington Supervisor Frank PetroneMark Lesko from Accelerate Long Island, Venture Capitalist Investors David CaloneAndrew HazenMark Fasciano, the SBA’s regional director Walter Oden and a host of groups including the Long Island Angels, LISTnet, COMETS, Empire State Development Corporation (ESDC) and Long Island Forum for Technology (LIFT).

Also meet local tech companies in Huntington that are part of the iDA’s Boost Program including Jeff Leventhal from Work Market, Ryan Thompson from CooCoo and George Kafkarkou from VLI North America.

The first hour is open to venture capitalists, IDA clients and start-ups formed in the last 5 years in Technology, Bio/Life Science, Energy, Green, Product Development and High Tech Manufacturing. The second hour starting at 7pm is open to the general business community. There is no charge to attend this event.

Coming by rail? Bolt Bus is having a free shuttle from Huntington train station for a 5:40pm pick up to the Paramount. Let us know if you plan to use the free shuttle.

LaunchPad Long Island

Lauch Pad Long IslandThe brain child of co-founders Andrew Hazen and Richard Foster, LaunchPad Long Island is a 12,000 sq foot co-working space with an emerging business accelerator in Mineola, Long Island.

LaunchPad LI has cracked one of the biggest obstacles that has suffocated many Long Island entrepreneurial endeavors in the past… accessibility. By having their own parking lot, adjacent municipal parking and Mineola train station at their doorstep, LaunchPad LI and their tenants have the unique ability to efficiently draw talent out of Brooklyn, Queens and NYC as well as local residents.

Co-working

Judging from my walk through during the launch party, Andrew, Richard and Brian set out from the start to ensure all public and private spaces were designed to be equally fun and functional. The modern (read: brand spanking new) environment has wood floors, glass desks, leather chairs & couches and all the amenities needed to make the long days and late nights a little less taxing. Aside from the main benefits of peer support and collaboration that make co-working so desirable, LaunchPad Long Island also includes:

  • Peer Support & Collaboration
  • 24/7 access
  • No security deposit
  • Professional services support (legal, finance, marketing, insurance, etc.)
  • Networking opportunities
  • Storage lockers
  • Free coffee & water
  • Copy/Print/San services
  • Access to Hofstra Zarb Business School Speaker Series
  • Conference rooms with large TVs
  • Relax in the Blast Off Lounge

Private Office Suites

The second floor of LaunchPad LI has thirteen (13) brand new furnished Executive office suites for 1 – 6 people.

  • 24/7 Access
  • 95% of suites have windows (Amen!!!)
  • Receptionist services
  • No long term commitments
  • High Speed WiFi
  • Flex Space & “Writable” Idea/Strategy Walls
  • Conference rooms with large TVs
  • Free coffee & water
  • Copy/Print/Scan services
  • On-site parking

Business Accelerator

Unfortunately, at the time of this post, details are still a bit sketchy on the business accelerator side of things. There seems to be a seed fund of $250K with up to $25k being allocated to each team accepted to the program. 

Based on what they are seeking in applicants, it looks intentionally vague, which is natural for the first class of a new accelerator, but what concerns me more, is the lack of  program, such as class start/end dates, demo days, equity structure to the accelerator (if any), and other typical accelerator parameters.

Regardless, I recommend any Long Island based early stage entrepreneur check it out. Just do your homework on other top accelerators like Tech Stars and Y Combinator to best understand how LaunchPad LI stacks up to their peers. 

And There’s More…

There are also a handful of other programs and services that look like they will be coming into their own in due time. Here are a few of them…

  • Speaker Series
  • 30 Under 30
  • Movie Night
  • LaunchPad Cadets

In summary, Long Island now has a true hub for entrepreneurial talent that is easily accessible both geographically and financially. Andrew, Richard and their team have accomplished something very special, now it’s time to get involved to ensure it flourishes. 

NYC ERA Summer 2013 Applications Now Open

ERA Logo

The Skinny 

  • $40,000 investment
  • 4-month program
  • Follow-on investment in future rounds
  • Early application deadline: March 7th, 2013, midnight EST
  • Application Deadline: April 19th, 2013, midnight EST Interviews: April 22-26, 2013
  • Program starts on June 3rd, 2013 and ends on September 20th, 2013

Learn More & Apply (Remember the story about the early bird…)

About Entrepreneurs Roundtable Accelerator

ER Accelerator will provide all accepted participants an intensive experience in New York to help move their company forward.

Each accepted company receives a $40,000 investment along with follow-on funding and four months of:

  • Free collaborative office space in the heart of NYC’s Times Square
  • 200+ amazing mentors from the NYC startup community
  • Seminars and speaking programs lead by top entrepreneurs, technologists, and
    industry experts
  • Free legal and business services and support from our 25+ sponsors and partners
  • Access to experienced technologists, UI gurus and other product experts
  • Exposure to New York City’s leading seed investors and VCs
  • Demo Day, our end-of-session pitch day without equal: you’ll present to hundreds of angel investors and venture capitalists and continue to have access to the ER Accelerator network

Pitchcrawl 3.0 in NYC This Week

PitchcrawlFounders and investors, come to one of the most relevant events to build relationships in the industry. What is the Pitchcrawl like? It’s like a speed dating cocktail party, but more interesting.

Everyone pitches. Investors and Founders both get 30 seconds to say who they are and what they do to the group. Investors and Founders break up into one on one sessions. Food is served in-between.

Tickets online are reserved for Startup Founders only. Please do not register if you do not have a startup and are looking for funding, you will be denied entry. If you are a service provider and are interested in attending the event, please e-mail us at the following address to discuss sponsorship opportunities. Investors and media, please contact greg@dishcrawl.com. The event is free for investors and press to attend; investors do not need to buy tickets.

Please note – ticket prices will increase as we get closer to the event.

Confirmed Investors to date Include –

  1. ERA Accelerator
  2. Gen Y Capital Partners
  3. Solomon Wilson
  4. Hafooch Investments
  5. High Line Venture Partners
  6. DreamIt Ventures
  7. BOLDstart Ventures
  8. Metamorphic Ventures
  9. Rosemont Seneca
  10. First Mark Capital
  11. K2 Media Labs
  12. Genacast Ventures
  13. Star Angel Network
  14. New York Angels
  15. CanRock Ventures
  16. 37 Angels
  17. Founder Collective
  18. Arc Angel Fund
  19. RTP Ventures
  20. Golden Seeds
  21. BHV
  22. DFJ Gotham
  23. +Several independent angel investors

A few event logistics:

  • Do not bring Powerpoint files or presentations. Everyone will be pitching verbally only, this is an elevator pitch!
  • After the startups have pitched, the investors will give an overview of what they are looking to invest in. They will then announce which startups that they want to meet with. After those meetings other startups not called are free to approach the investors to discuss their business plans.
  • We will be sending an e-mail two days before the event with location details. The event is being held at a space in Midtown. 
  • When submitting your company description on the ticket page, please note that this description will be provided to the investors.

Also a special thanks to our sponsors!!!

Goodwin Procter LLP is a national law firm with a growing international presence. With offices in Boston, Hong Kong, London, Los Angeles, New York, San Diego, San Francisco, Silicon Valley, and Washington, D.C. At Goodwin Procter, there is a collective determination and an entrepreneurial spirit. As one of the nation’s leading law firms, Goodwin Procter handles some of the largest cases on record and also works with individuals and investors leading the way in new technologies and markets. Goodwin Procter’s award winning website, www.goodwinfoundersworkbench.com, is a great resource that provides free access to critical start-up forms, memorandum, best practices and other resources to form, operate and protect your start-up.

Trinet. TriNet is a trusted partner to small businesses, providing critical HR-related services on an outsourced basis. TriNet’s solutions help contain costs, minimize employer-related risks and relieve administrative burden to keep an entrepreneur’s focus on core business functions. From employee benefits service and payroll processing to high-level human capital consulting, TriNet’s expertise is integrated with every facet of a client’s business. TriNet specializes in serving fast-moving companies in fields such as technology and financial services, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit http://www.trinet.com

Also, thanks to MatchPuppy for their help with organizing the event. MatchPuppy is the OkCupid for dog playdates, a new way for dog owners and their dogs to meet new friends locally. http://www.matchpuppy.com/

Hack your way to Silicon Valley… on a bus

Startup BusStartupBus is an invitation-only community of hackers (coders), hustlers (marketeers) and hipsters (designers) passionate about startups. They are best known for their annual competition where they bring new people into our community, building and selling a product on a bus that’s traveling 60 miles an hour towards Austin, Paris, or other major cities around the globe.

Startup Bus is now taking applications for their Silicon Alley to Silicon Valley Route.

Applications are by invitation-only. To be invited, you can reach out to former Buspreneurs or @TheStartupBus and convince them that you’re the right kind of awesome or crazy (ideally both). You can also connect on the StartupBus website and make a lot of noise so that we notice and invite you.

College StartUp x LaunchPad LI: March 9, 2013

College Startup Launch Pad LogosCollege StartUp x Launchpad LI is a one-day college startup competition to create and pitch an idea for the chance to win $1,000 sponsored by DormFunding.com  

Undergraduates, Grad students, and recent graduates from all over are invited to share their talents to create an idea from scratch, form teams of 3-7 people, and present a pitch deck in front of an expert panel of experienced professionals. Passionate mentors will be available to the students throughout the event.  Learn more and sign up.

About College Startup

CollegeStartUp strives to connect students with educational experiences where they can grow into entrepreneurs.

LICA Healthcare Capital Forum Applications Open

Long Island Capital Alliance Logo

Applications are being accepted for presenting companies for Healthcare Capital Forum to be held March 8, 2013 in Melville, New York presented by the Long Island Capital Alliance.

Applicants should be:

  • Involved in the healthcare services, technology or devices
  • Seeking growth or expansion capital or a private equity investment

If selected, you will have an opportunity to make an 8-minute presentation to a group of investors, venture capitalists, private equity firms, investment bankers, lenders, and others.

Application Deadline is January 28, 2013

To apply, please  submit your executive summary via the Long Island Capital Alliance presenting company application.

The VC Across the Table is Sweating More Than You

sweating vc

When raising professional capital (venture capital, investment banks, etc.) it’s important to remember that, like you, the “investment professional” across the table is a component in a much larger system called Private Equity Investing.

When you’re not around, the VCs and Bankers (Managing Partners) are in your shoes asking for investment capital from their Limited Partners (LPs). The LPs are the individuals and institutions actually funding your company, while the VCs are paid to select the companies to invest in on the LP’s behalf.

For an in-depth look at the inner workings of a venture capital firm, we recommend reading “Chapter 8: How Venture Capital Funds Work” in Venture Deals, by Brad Feld and Jason Mendelson

Feeling the Heat

But venture capitalists aren’t sweating because they’re afraid you know the game, they’re feeling the heat because the economic returns of venture capital for the LPs who fund them are looking less than stellar when compared to Public Market Equivalent (PME) investments. The best assessment of the causes for this lackluster performance is detailed in the Ewing Marion Kauffman Foundation’s “WE HAVE MET THE ENEMY…AND HE IS US”: Lessons from Twenty Years of the Kauffman Foundations’s Investments in Venture Capital Funds and The Triumph of Hope over Experience (May 2012).

From a founder’s perspective, the 51-page review of the the Kauffman Foundation’s investment experience in VC funds might seem like overkill, but the executive summary alone should be enough of a confidence booster for future negotiations.

So the next time you find yourself in front of VCs who think they have the Midas touch, remember that in the eyes of their LPs, that’s rarely the case.

About the Kauffman Foundation

The Ewing Marion Kauffman Foundation was established in the mid-1960s by the late entrepreneur and philanthropist Ewing Marion Kauffman. Based in Kansas City, Missouri, the Kauffman Foundation is one of the largest foundations in the United States with an asset base of approximately $2 billion.

Kickstarter – The Power of Crowd Funding

Cap with moneyAn email from Kickstarter landed in our inbox that I thought best summed up the power of crowd funding. 

Watch The Best of Kickstarter 2012 >

If you aren’t familiar with crowd funding check out the dry but comprehensive overview on wikipedia. More importantly, each crowd funding operation has their own funding mechanics, and niches (from community development to pornography). Once again the most comprehensive list we know of is over at wikipedia: Comparison of crowd funding services.

Lastly, with the popularity and scale of crowd funding outpacing the current reach of the SEC, there are new rules and regulations coming down the legislative pipe to attempt to mitigate the risks associated with raising capital from investors the SEC does not consider Accredited.