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Technology entrepreneurs in the Lone Star State who are seekingequity capital may be eligible for a bridge loan of up to $200,000through the new $2 million SeedStage Angel Club Fast Money fundmanaged by Silicon Valley Bank. SeedStage is an Austin-basedventure accelerator that prepares entrepreneurs to seek equitycapital. Here's how the loan program works:
Ideally SeedStage seeks entrepreneurs who have at least sixmonths of sweat equity invested in a venture. The business conceptmust be capable of producing at least $100 million in sales for thefirm in an industry with at least $500 million marketcapitalization. Additionally, the business should be capable ofyielding a 50-fold return on the investment. Begin the process byregistering for a $250 membership in SeedStage at www.seedstage.com. Registration isfollowed by an invitation to visit a SeedStage fast-pitch meeting,where you'll give a mock 15-minute presentation in front of apartner team. This is followed by 15 minutes of candid feedback,supplemented by videotaped and e-mailed commentary.
Applicants who have potentially fundable ideas are then invitedto participate in three- to four-month coaching programs. After 30days of intensive grooming, they can obtain a Fast Money loan withapproval from a simple majority of the SeedStage angel pool.
For additional details, visit the SeedStage Web site.
Technology entrepreneurs in the Lone Star State who are seekingequity capital may be eligible for a bridge loan of up to $200,000through the new $2 million SeedStage Angel Club Fast Money fundmanaged by Silicon Valley Bank. SeedStage is an Austin-basedventure accelerator that prepares entrepreneurs to seek equitycapital. Here's how the loan program works:
Ideally SeedStage seeks entrepreneurs who have at least sixmonths of sweat equity invested in a venture. The business conceptmust be capable of producing at least $100 million in sales for thefirm in an industry with at least $500 million marketcapitalization. Additionally, the business should be capable ofyielding a 50-fold return on the investment. Begin the process byregistering for a $250 membership in SeedStage at www.seedstage.com. Registration isfollowed by an invitation to visit a SeedStage fast-pitch meeting,where you'll give a mock 15-minute presentation in front of apartner team. This is followed by 15 minutes of candid feedback,supplemented by videotaped and e-mailed commentary.
Applicants who have potentially fundable ideas are then invitedto participate in three- to four-month coaching programs. After 30days of intensive grooming, they can obtain a Fast Money loan withapproval from a simple majority of the SeedStage angel pool.
For additional details, visit the SeedStage Web site.
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