Less than 1% of entrepreneurs get funded. Check out the statistics on our blog here and a discussion of the statistics here. So who does get funded? Frequently it’s entrepreneurs who have gotten funding in the past, often from the same VCs. So where does that leave you? If you’re not in that category of previously funded, you need help.
One place you used to be able to get help was Technology Ventures Corp (TVC), where I worked, helped entrepreneurs to raise over $1B in the last 15 years. About 40% of TCV’s clients got funded. TVC selected fundable companies as clients, helped them polish their materials, introduced them to appropriate investors and gave them warm recommendations. VCs knew the TVC clients would be well-prepared and fundable, and welcomed them in. While at TVC I sat through over 300 pitches and evaluated 8 -10 times as many executive summaries. Unfortunately TVC is no longer in the Bay Area.
An interview in the Wall Street Journal about 18 months ago with a San Francisco venture capital firm reported that the firm discovered that of the 1,800 start-ups they had funded, every one had come in with a recommendation. None were mail-ins. A smaller, newer firm told me they read the article and discovered that every one of their 400 companies also had come with a recommendation. Both firms were surprised and neither one had a stated policy of requiring recommendations, as some VC firms do.
A place where you can get the kind of help that TVC provided is BAE Workshop. It is based on the work of TVC, but with enhancements. We will
- Lead you in creating the plans and documents for your company that you need
- Provide, just as TVC did, graduates with introductions and recommendations to appropriate investors
- Provide mentors in a variety of areas
- Schedule informational seminars on topics chosen by Workshop attendees.
- Maintain office hours when BAE Workshop Staff can be contacted
BAE Workshop can change your odds, just as TVC did. If you want a fighting chance of being in the 1% or so who get funded, sign up for our next Workshop.