This is the time-of-year where many markets are handing-out all manner of awards.
We recently saw several local companies (including clients of mine) receive various accolades. That said, we saw some head-scratchers out of Atlanta, New York and Minneapolis. So, I picked-up the phone and called one of my investing partners for his views on how these types of decisions are made. I’m glad I did it because the information is insightful, revealing, and should be very useful for my clients and readers:
“Hi Brian. I think there were a number of issues at play. [REDACTED] is a well-known tech entrepreneur involved with this venture. It is a consumer product and the team effectively used crowd funding to raise money and make some initial sales. Crowd funding (I know you are wary of crowd funding), minority entrepreneurs, b2c, cool product, highly innovative, probably has IP – all good for Atlanta, for example. Sometimes judges (and investors (; ] ) will pick a venture with sizzle over what may be most fundable (but in my opinion your focus on best practices remains critical to their longevity and funding).”
As startup companies evaluate their strategies and best options for angel and venture capital and also market approach, these words can be very beneficial.
Let’s be part of the Solution.
– brian patrick cork