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Philadelphia Social Innovations LabFunding for Start Up Companies
February 17, 2015Clifford C. David, Jr.
Conservation EconomicsPresident & CEO
BOARDS
Pennsylvania Department of Conservation & Natural Resources
Temple Ambler Board of Visitors
Lacawac Sanctuary
Sustainable Business Network
West Laurel Hill Cemetery and Funeral Home
Delaware Valley College Presidents Advisory Council
IMPACT ASSESSMENT
Governance Corp Accountability – Transparency – Governance Metrics Workers Compensation, Benefits, Training, Worker Ownership, Work Environment
Community Community Practices – Donations – Supported Org.
Environment LEED, Water/Energy use/conservation
FUNDING
Personal & Credit Cards Friends & Family
Angel Venture Capital Initial Public Offering (IPO)
WHAT WE LOOK FOR WHEN INVESTING
• Impact – Blend Mission & Money
• New Ideas/Products/Services
• Intellectual Property – Patents, Copy write, Trade Mark
• Regulations that impact business
• Other funding sources
• Skin in the game
WHAT WE LOOK FOR WHEN INVESTING
• Company Advisors
• Key staff
• Competitors
• Are you offering stock, debt, etc.
• Time to exit
• Exit strategy
WHAT WE LOOK FOR IN THE BUSINESS PLAN
• Burn Rate
• How will you scale
• Who are potential partners
• What is your differenator
• Culture
• Business Plan
• No J curves
• Pro forma – Budget/Balance Sheet
• How much money do you want/need
• How will you use the money
• Pre Money Value
WHAT WE LOOK FOR IN THE BUSINESS LEADER(S)
• Business Experience
• Experience in the business sector
• Willingness to listen and be coached
• Experience with failure
• Passion/Can do attitude
• Honesty
WHAT WE LOOK FOR IN THE BUSINESS LEADER(S)
• Values
• Focused Flexibility – Things will change
• Surround themselves with smart people
• Acknowledge Mistakes
• Creativity
• Don’t be defensive
• Know the obstacles
WHAT WE WANT AS AN INVESTOR
• Return of our investment
• Profit
• Seat on the Board/Observer
• Impact
WHAT WE BRING TO THE BUSINESS• Money
• Experience
• Contacts
• Sources for additional investment
• Focus
• Stability
• Emotional support
OTHER FUNDING SOURCES FOR START UP COMPANIES• Investors Circle – Philadelphia
• Patient Capital Collaborative
• Ben Franklin Technology Partners
• Robin Hood Ventures
• Delaware Crossing Investors Group
• Mid-Atlantic Angel Group
• Good Company
• Mayors Office of Sustainability
• Sustainable Business Network