RVC News Blitz – Spring 2013

 


In this edition:

 


 

Angel Capital Summit News

The Angel Capital Summit is scheduled for March 19 and 20th at the DU Campus in Sturm Hall. This is the same location as last year. Don’t take that to mean that we are repeating the same old conference! We’ve revisioned the ACS to include suggestions from last year’s suggestion box. All the seminars will occur on one stage. No more choosing between two awesome talks. Just relax and take it all in!  Similarly, pitching companies will not compete for attention; they too will pitch on one stage.

Local Legends, David Cohen, founder of TechStars, and Jon Nordmark, CEO of eBags will both be giving Keynote addresses at the ACS. We have confirmation that many angel and venture capital investors will be in the audience. We have a growing list of VCs who will be attending so they can browse our local seed stage companies.

Pitch applications are in Executive Review through February and companies will be invited to pitch in early March. We have seen some hot new companies come through both the Gust and Business Catapult application databases. Companies will be matched with trained Pitch Coaches and the Finalists will be chosen during the week of March 11 after we’ve seen the pitches in person.

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No Pitch Event in April

Since the Angel Capital Summit is late in March (corresponding with DU’s Spring Break), we will have a bye in April. Although we won’t have new pitches in April, the investor Forum will still meet in April. This allows the Investor Forum to fully digest the large number of companies that pitched at the Angel Capital Summit. A Bye in April is good for entrepreneurs and good for RVC staff. Whew!  We will resume our normal pitch event schedule in May.

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New RVC Staff Roster

We’ve been growing!  RVC is an amazingly complex organization at the cutting edge of angel investing and private equity community development. We are so thankful to have found some amazing new staff members so we can accomplish our goals this year. As a new non-profit, we are thankful to have the deep experience of executive-level interim staff. We really are lucky to have such a great team! Here’s what our roster looks like right now…

Peter Adams, MBA – Executive Director

Known as the brave soul who took over the Rockies Venture Club in Dec of 2011, Peter is the visionary force shaping RVC today.

Kevin Andresen – Interim Staff

Most recently VP at Urban Lending Solutions, Kevin is experienced with the crazy world we call Private Equity and Venture Capital.

Patty Laushman, MA – Interim Staff

Past CEO of the Uptime group, she now calls herself a “cashed out entrepreneur”, Patty is intimate with the inner workings of start-up operations and knows the path from zero to exit.

Nicole Gravagna, MS, PhD – Director of Operations

Just like the human brain strengthens useful neural connections and removes extraneous ones, Nicole is constantly developing new Standard Operating Procedures to keep RVC running smoothly as it grows.

Stacy Gregg, MA – Communications Manager

With two advanced degrees in education, Stacy is well-suited to managing the constant stream of three-way communications at RVC.

Rebecca Wiedemer, MBA – Events Manager

Senior Financial Analyst at Standard and Poor’s by day and master of Event Management by night. Rebecca is responsible for the high quality of our monthly Pitch Event these days.

Mimi Zheng – Analyst Intern

Soon-to-be-graduate of Metro State University, Mimi is involved with Analysis at RVC this year. She’s taking a deeper look at operations, revenue, and communications to make RVC a sustainable non-profit for Colorado.

 

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Writing Venture Capital for Dummies

We have a confession. We’ve been moonlighting. Peter and Nicole are writing Venture Capital for Dummies with John Wiley & Sons, Inc. publishing company. We were excited to take on the project when Wiley approached us in the fall since we already wanted to build extensive educational curriculum around fundraising. This book will walk founders through the process of fundraising in an easy-to-grasp “for dummies” format. VC’s for Dummies will be on shelves by September 1st of this year.

 

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RVC Classes are a big hit!

Speaking of educational curriculum (see above), we have been thrilled with the quality of education and the amount of energy that arrises from each RVC Academy class. We’ve had a couple of stellar classes so far, A Good Investment Deal, Marketing and Branding, and Due Diligence. Our thought leaders bring specific expertise to the table, and the small setting allows for amazing discussion around the issues facing everyone in the room. We will try to do 2 or three of these classes every month.

We’ve had a request for a class on Anti-dilution Clauses in term sheets. These are the sticky clauses that can help early investors feel safe in their investment, but can ruin the deal for future investors if done poorly. Does anyone else want to learn about this topic? Send Nicole an email or mention your interest in the comments section at the bottom of the page.

 

 

Pay to pitch?

[Clarification Note: See bottom of post for FAQ about which RVC services require a fee.]

Pitching companies contact me all confused about having to pay for Pitch Academy before they pitch to investors. Another thing I get a lot of guff for is the fact that we require pitching companies to pay for their conference tickets at the Angel Capital Summit. I was told that for a pitching company to pay for the conference is like the band having to pay to attend their own show.

We have a provision where we’ll waive your fees if you pay us back with your time. For ten hours of volunteer work, you can get through our system entirely cash free. This is a community organization, we have plenty of work for volunteers. One word of warning, if you want to volunteer, you have to actually try to be helpful. Playing with your phone for hours while I handle the deluge of event attendees at the door, like one CEO that will remain nameless, is not really helpful. Understandably, founders often find that they are busy with their company and would rather just pay for the class.

Why are we gouging entrepreneurs with these horrible fees for a simple 5 minutes of air time?

[pullquote align=”right” textalign=”right” width=”30%”]At RVC we spend two days talking with investors about each company after the pitch.[/pullquote]

Wow, that really does sound bad, doesn’t it? The pitch is only the tip of the iceberg. The pitch is the public part, and from the outside it looks like all we do is pitch companies every month and take their hard earned cash.

Actually, we do a quite a bit more than that.

 

 

 

Reviews

By the time a company pitches with RVC, we’ve already had reviewers vetting their company and determining if they are ready for investment. It would be a huge disservice for us to pitch companies randomly, or just have them get in line and pitch when they wanted to. Readiness is a big deal and if we pitch a company too early, investors get the message that it’s not a good company (right or wrong). Our reviewers are experienced volunteers, but it takes hours of administrative staff time to sort, manage, and account for all the applications that come in to make sure that everyone gets fairly reviewed.

Pitch Academy

I’m really proud of this class that Peter has put together. Pitch Academy is a 4 hour class that is a drink-from-the-firehose lecture that encompasses everything we’ve learned about angels, pitching to angels, and most importantly pitching to our angels. We know who is investing right now and we know the messages that they want to hear. After the lecture, companies pitch in class and get constructive comments.

This class is always full even when we run an extra class in the month. People take Pitch Academy before they even apply to pitch just so they know what they are getting themselves into with angel investing.

Attending Pitch Academy used to be optional. We quickly learned that it was very important. Audience members were having no trouble at all picking out the company who had not come to pitch academy and we determined that it was a disservice to pitch a company without giving them some extensive feedback first. Even good pitches seem bad when they haven’t been standardized with the current trends.

After taking the Pitch Academy class, every pitch your company does will be better, sharper, and more focused on the investment deal. We teach investor-speak.

Investor Forum

Founders may not realize that at RVC we spend two days talking with investors about each company after the pitch. Both Peter and I manage 6 hours of investor meetings each month acting as each pitching company’s agent. We go over the pitch deck, discuss the points that investors want to learn more about, and get to the nitty gritty about what they need to move forward with due diligence. It’s important that this is done without the founder present. That anonymity gives investors a chance to talk candidly and determine what it would take for them to get involved with the deal.

RVC Investor Forum exists because of thousands of hours of investor community building done by RVC staff. We spend a lot of time working with angels to teach the skills of investing so they are educated when they approach you for negotiation. An educated angel is much easier to work with when you are closing a round.

Some have argued that instead of the entrepreneur paying fees, the angels should pay for these services. They do! We divide the costs between the entrepreneur and the angels.

Entrepreneurs think that angels are the haves and the founders are the have nots. Therefore angels should foot the bill for everything in this process. It’s important to understand that although a founder might need an angel to grow his business, an angel never needs a founder. Angels don’t have a mandate to invest like VCs do. Angel investing is a hobby, not a job, or a requirement. If we add all the fees to the angel side of the seasaw, they’ll just take their ball and go home. Nobody wants that.

Referrals

If your company needs a lot of money, it makes sense for you to share your deal with High Altitude Investors in Colorado Springs or Colorado Angel Investors in Fort Collins. We often make phone calls to those groups to help get our companies on the radar in other angel communities. We are starting to form relationships with groups like First Funder and local foundations that will provide companies with non-dilutive grants that don’t require selling equity.

Metrics

We try to tally up all the investments that are done in our companies. This is extremely hard to do. Last year our companies raised around $15 Million. We don’t have a fund so RVC doesn’t directly do any of that investment. Entrepreneurs love to remind me of that. Our metrics are important to show investors that RVC knows how to pick great companies that get investment. This metric also helps put Colorado on the map. Angel deals are often so quiet that you’d never know they were happening. We try to pull out the bull horn so everyone knows great things are happening with entrepreneurship in Colorado.

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Frequently asked questions about RVC Fees

(more extensive FAQ)

Do I have to pay to apply to pitch? No

Do I apply through the “Coaching Cloud” which has a fee? No. “RVC Pitch Your Business” is our group in the Business Catapult. There is no fee. You can also apply through GUST.

Do I have to take the Pitch Academy to apply to pitch? No, but I have to admit it helps us to see that you are ready to pitch if you pitch in the class. If you take the class, then get accepted, you don’t have to pay for the class again. We do suggest you come back and pitch in class again (for free) to get more feedback.

How much is the Pitch Academy Class? $149 for non-members, $125 for basic members, free for keystone members.

Do I have to pay for Pitch Academy AND the ticket to the pitch event? No. When you pitch at a conference, you pay for the ticket and get coached through a volunteer pitch coach for free. When you pitch in a monthly pitch meeting, you pay for the class with Peter and Nicole and then get into the pitch meeting for free.

Do I have to take Pitch Academy to Pitch? Yes. This is non-negotiable. How you pay for it is negotiable.

Do you forsee making the Pitch Academy or the pitch process free for entrepreneurs in the future? No. We think it’s fair for founders to contribute with either their time or money. This is a community-based non-profit. We think everyone should give a little to keep RVC going for another 27 years.

RVC staff members are all angels and don’t need to take home a salary, right? Ha ha ha ha ha! Whew, that’s a good one.

Do you take a cut of the deal when investment happens? No. We can’t. It’s not legal to do that unless you are a broker-dealer. We think it’s more important to be a trusted intermediary than to become a broker-dealer or even to work with one.

Do you take a finder’s fee? Again, not legal. See above.

 

 

 

Crowdfunding in Colorado – Pitch Event

Location: American Mountaineering Center Theater, 710 Tenth Street Golden, CO 80401 (map)
Time: February 12, 5-7:30pm

Event Schedule

5:00-5:55 Networking Happy Hour
5:55-6:45 Updates on Crowdfunding Panel
6:45-7:30 Four great pitches

Crowdfunding Panel
Jonathan Benison, First Funder (Moderator)
Amy Bowler, Holland and Hart
David Milliken, Funding Launchpad
Gordon Nuttall, Couragent, Inc.

Register for Angel Capital Summit 2013

RVC presents a 3-D look at crowd funding. Our panel will start with the high level fundraising laws that are coming soon due to the Federal JOBS Act from Amy Bowler of Holland and Hart. We will also Learn about what funding portals are doing to prepare themselves for the coming crowdfunding revolution from David Milliken of Funding Launchpad. Finally, we will hear lessons learned from Gordon Nuttall, CEO of Couragent, a company that is currently fundraising using crowdfunding with an intrastate offering.

Pitches
P2Bi – A company that uses crowdfunding to raise money for factoring
Couragent – Maker of the FlipPad Scanner, and currently raising capital through crowdfunding
Tensegrity – A local company with a superior prosthetic foot raising capital for their go-to-market phase.
Crowdfunding Offerings – Their product ‘Mainstreet Crowd’ is a crowdfunding platform that focuses on local and regional offerings.

Please pre-register if possible.
$10 surcharge on door registrations.

Kickstarter Project Experience and Education

Tim Harvey, Software & Biotechnology Consultant

Joni Gale Kripal’s idea for a Kickstarter project began with just her and a friend, looking for something they wanted and couldn’t find on the market – an iPad attachment with practical organization and the elegant design they were looking for. Joni says simply, “I made it for myself because I wanted it,” and they saw the potential in the market as well as talent within themselves to build a business. Although her project wasn’t fully funded, she considers it a positive experience and has some thoughts for anyone considering crowdfunding.

Kickstarter (funded by Index Ventures and Union Square Ventures, among others) is a way for anyone in the world to fund creative projects and is open to creators from the US and UK. Kickstarter specifically requires that all projects be creative in nature, although other platforms focus on different areas. These types of crowdfunding platforms rely on “backers” not investors, people who find these campaigns online, believe in the idea, and agree to put in cash for the project at certain levels. Based on their level of support, backers get rewards, such as the products they’re funding, or a one-of-a-kind experience. There is technically no “investment,” so the creator(s) keep 100% of their equity. This also means an entrepreneur is not likely to find mentorship or guidance going through crowdfunding.

So far, Joni and her partner had just invested sweat equity and personal money, and as they were looking to scale the business they realized they needed more cash to do so. They chose Kickstarter over other services primarily because of the “all or nothing” premise. Other platforms, like Indiegogo or RocketHub have a “keep-it-all” scenario, where an entrepreneur keeps all of the money raised, even if the campaign hasn’t met its fundraising goals. With an all-or-nothing premise, if the goal isn’t reached by the deadline (as in Joni’s situation), no money is collected from the backers. In this case, they won’t expect anything else from you, which limits your risk and sets their expectations upfront. In addition, backers may recruit others before the deadline just because they want to see the idea succeed. For these reasons, ideas tend to be either popular and hit their goal, or don’t get very far – there is little middle ground on Kickstarter. Joni’s biggest take away from her experience was market research insight and real world feedback, and she also had some more specific recommendations as well.

If you’re considering crowdfunding, the first thing to do is to back a few projects that you find interesting to get a feel for how it works. It’s a good idea to have a solid website and a multi-channel social media campaign running prior to launching your project. Keep in mind that having established users liking, tweeting, and blogging about you prior to the project can create credibility for new people finding your idea. Twitter can certainly be useful, and Pinterest could be even more important, especially if your idea is visual in nature and/or is more targeted toward females, as they are 80% of Pinterest’s user base (TechCrunch on Pinterest). Be thoughtful with the rewards that you give backers, and structure the package levels simply. Rewards that are close to the heart of your idea are likely to do well, because backers resonated with them in the first place. Decisions made on social media tend to be fast, making first impressions ever more important, so if you use video (which is a good idea) don’t be afraid to spend some money on video production. It can also be helpful to overestimate your funding needs, as fees and unexpected challenges always come up.

There are things to be careful with as well. As always, read the fine print and keep up on any changes in your business environment. A platform’s rules may change during your experience with them, as Joni’s did, so pay attention to the ones that affect your project. When the JOBS act is implemented (Forbes infographic here), it will change some things in the industry, so be aware of that as well. Fees will cut into your margins, 10-15% in Joni’s case, since Kickstarter takes 5%, Amazon Payments 3-5%, and shipping for backer’s rewards are usually included. “You have to discount to get on Kickstarter,” she says. Competitors can see your ideas out in the open, so if necessary look into filing patents or other IP protection. As always, be careful in hiring any outside professionals, as there are shady “consultants” who cold-email to offer marketing, design, or other little services than are little more than a scam. Do your diligence if you hire someone, and if the offer sounds too good to be true, it usually is.

Joni sees her Kickstarter project experience and education as a good thing and something she would do again. She doesn’t consider it a failure, but a learning experience that is part of her entrepreneurial process. It gave her a new level of market insight as well as a chance for market exposure and feedback from potential customers. In the end, Joni’s positive attitude and learning from her project means that her experience is a valuable stepping stone in building her business.

About the author:

Tim is pursuing a Master’s from CU-Boulder in Engineering Management, after a few years working with entrepreneurs following an undergrad in Cognitive Neuroscience at U. of Denver. He started his first business at age 19 and currently consults for startup companies, primarily in software and biotechnology.

 

 

Crowdfunding Myth Busting Series – Quick Fixes

Peter Adams, Executive Director at Rockies Venture Club

Let’s tackle crowdfunding myth busting to better prepare for raising capital. What are the most commonly believed myths in crowdfunding? Here we look at crowdfunding as a quick fix.

Myth #6:

Once the SEC releases its guidelines, funding will become easy and freely available.

Reality:

Even if Crowdfunding portals do become popular, it will likely take years before people begin investing with them regularly. There are several factors that may slow the adoption:

Many “accredited investors” today do not even think of themselves as Angel Investors.  It is unlikely that the existence of a portal will change this perception. Accredited investors are individuals with a net worth of $1 million or more, not including their primary residence, nor an income of $200,000 or more a year with a reasonable expectation that it would continue. These investors are typically working with wealth advisers who are not motivated to move money to angel investments where there can be significant work in doing due diligence and risks with unknown investments. So, even though these people are qualified to make angel investments, few actually will engage in angel investing. It’s reasonable to assume that the same resistance to angel investing may exist among the non-accredited investors as well. While one upside of the JOBS act is that those who want to have the opportunity to experience the significant returns that angel investing can provide, it may take time for these individuals to get used to the idea of investing through a funding portal.

Platforms like E-Bay took years before people became used to the idea to bidding for things in an auction format.  People were simply not used to bidding for things and had concerns about whether they would actually receive the items they had won in an auction. It took E-Bay years to develop their buyer’s insurance program and for word to spread of the deals that could be had on their platform.

Even if Crowdfunding becomes as popular as E-Bay, it will take some time before it catches on in the mainstream. They will likely need to develop their own version of buyers’ insurance in order to gain investors trust.

 

 

Crowdfunding Myth Busting Series – Public Offerings to Non-Accredited Investors

Peter Adams, Executive Director at Rockies Venture Club

Let’s tackle crowdfunding myth busting to better prepare for raising capital. What are the most commonly believed myths in crowdfunding? Let’s look at many of them to find what’s truth and what to debunk. Here we look at how existing offering exemptions already allow for public offering to non-accredited investors. We’ll examine one more myth, so look for our final blog post in a few days.

Myth #5:

In Colorado, many of the crowdfunding opportunities created by the JOBS act are already available to entrepreneurs.

Reality:

The Colorado Division of Securities already offers SCOR and RL limited registrations for public offerings to non-accredited investors for in-state deals. These registrations are rarely used, even though in some cases they represent less work for the entrepreneur than filing with a crowdfunding portal.  Entrepreneurs can pay $50 and fill out a few forms and in a few weeks of regulatory review they may be legally entitled to publicly market their securities to accredited and non-accredited investors alike.

Many people confuse the two things that must occur for successful securities sales.  The first is that it must be legal. There has been much excitement about the SEC releasing the details the JOBS act, but since many of these opportunities for lightweight registration have already existed for years, there must be something else missing.

That second thing missing is the marketing effort that must be expended to raise capital.  Most companies seeking capital are not prepared for the process. They are promoting their companies without having put together a working team of people, without having done the detailed financial projections and analysis needed, and without having done the market research to gauge market demand and competition for their product.  Even those who have gone through these steps to prepare for raising capital are often not ready for the extraordinarily difficult process of marketing their securities.

Funding portals will help companies to some extent in that there will be a place where investors can look at a good amount of deal flow in one place.  Entrepreneurs will likely find that it takes more than a portal listing to sell securities and they will need to develop significant social networks and spend significant dollars and time in putting together presentations, traveling to meet investors, advertising and more.

 

Stay tuned for the next crowdfunding myth busting blog post on quick fixes

Crowdfunding Myth Busting Series – Due Diligence

Peter Adams, Executive Director at Rockies Venture Club

Let’s tackle crowdfunding myth busting to better prepare for raising capital. What are the most commonly believed myths in crowdfunding? Let’s look at many of them to find what’s truth and what to debunk. Here we examine the importance of due diligence. We’ll examine a few more myths over the next week, so look for subsequent blog posts in the coming days.

Myth #4:

Due diligence is a critical part of the early stage investment process. Most professionally prepared due diligence packages are no more than a collection of hundreds of documents, which is too much for someone to go through for a $500 investment.

Reality:

Unless crowdfunding sites find a way to crowdsource the due diligence process, it will not make sense for any one person to do all the research on a company, and many companies may be funded without receiving the scrutiny that they should. Even for Angel groups, Due Diligence is a time consuming and expensive process that sometimes threatens to eclipse the value of the investment in terms of the time it takes to do the research.  Groups have the opportunity to work together and split up the work so that no one person bears all of the burden. Crowdfunded Due Diligence will always be suspect when we don’t know who the other investors are and do not have a means to get to know them individually and develop trust relationships that face-to-face angel investors have.

 

Stay tuned for the next crowdfunding myth busting blog post on public offerings to non-accredited investors

Crowdfunding Myth Busting Series – Negotiation

Peter Adams, Executive Director at Rockies Venture Club

Let’s tackle crowdfunding myth busting to better prepare for raising capital. What are the most commonly believed myths in crowdfunding? Let’s look at many of them to find what’s truth and what to debunk. Here we consider whether or not negotiation is needed. We’ll examine several more myths over the next week or two, so look for subsequent blog posts in the coming days.

Myth #3:

Private placements and Angel groups have typically involved a back-and-forth negotiation that allowed deals to get done through discussion and creative deal making.

Reality:

With hundreds of investors involved, and a national scope where investors and entrepreneurs don’t have the opportunity to meet face to face,  it is nearly impossible to negotiate a deal once it has been offered and one or more investors have jumped on board. Typically all investors in an investment round will invest on the same terms with the same term sheet. The funding portals make an “offer” to sell securities at a particular price and it is up to investors to take it or leave it. The results of this kind of transaction, especially when it is not vetted by a professional investment banking or venture capital firm, is that either the entrepreneur will not receive investment or worse yet, they will receive investment, but they shouldn’t have received it at the terms offered.

The benefit of negotiation is that it gives parties a chance to test the premises upon which the valuation is based.  If the valuation is too low, then the entrepreneur gives up too much equity and they may be challenged in raising further rounds which may be necessary for the survival of the company.  If the valuation is too high, the investors may be pushed down in a “down round” where their equity is significantly diluted. Angel groups with experienced participants have benefited from using that experience to negotiate deals that are good for both investors and entrepreneurs alike.

Unless funding portals can find a way to crowdsource the negotiation process as well as investment, there will be many unhappy investors and entrepreneurs who are not getting what they had hoped for from the crowdfunding experience.  Unfortunately, many people will not realize what has happened until several years later when things go awry.

 

Stay tuned for the next crowdfunding myth busting blog post on due diligence

Crowdfunding Myth Busting Series – Fraud

Peter Adams, Executive Director at Rockies Venture Club

Let’s tackle crowdfunding myth busting to better prepare for raising capital. What are the most commonly believed myths in crowdfunding? Let’s look at many of them to find what’s truth and what to debunk. Here we ask if fraud is as concerning in crowdfunding as many believe. We’ll examine several more myths over the next week or two, so look for subsequent blog posts in the coming days.

Myth #2:

The SEC and others are concerned about the potential for fraud. It is a valid concern.

Reality:

We need to build in systems to prevent or minimize fraud, but fraud is the least of our concerns and will likely be a rarity. There is an even greater threat, however.  With unsophisticated entrepreneurs pitching deals to unsophisticated investors the opportunities for well-intentioned failure are enormous.
Funding Portals do not provide the vetting process that Angel Groups or Broker Dealers do, so unqualified companies will be on-line seeking funding. When unqualified investors invest in these sure-to-fail companies, everyone will be unhappy. There will be charges of fraud made, but in most cases the money will vanish due to poor strategy and mismanagement rather than fraud or intentional deception.

A majority of early stage companies are going to fail and the loss of money may look like fraud when the losses are due to other factors related to the operation of the business such as competitive pressures, regulatory changes, technological shifts, etc.  How are we going to be able to tell the difference when the time comes?

Just because money is lost does not mean that fraud has occurred.  If the company hired staff, developed product, and spent money on marketing, but never really took off, then that’s a simple company failure. If the company raised a first round and was depending on another round twelve months later that never was raised, then the company may have to shut down, even if its prospects were good. That’s not fraud either. There are dozens of scenarios where companies close – and in many cases shutting down sooner rather than later is the best option.

Investors need to be wary to protect themselves from fraud, but before they invest, they should be taking courses and workshops from groups like Rockies Venture Club in order to teach themselves about how companies are valued, how to identify risks, how to evaluate a deal and negotiate a winning term sheet.  Smart investors who invest with angel groups earn up to three times more on their portfolios than those who randomly point and click at crowdfunding offerings.

 

Stay tuned for the next crowdfunding myth busting blog post on negotiation being outdated…

Art and culture at Thrive LoDo

Guest post by Griffin Ignelzi, Thrive LoDo

Art in a Thriving Business

Art: Local Denver artist, Moses “Sonny” Valdez established his artistic roots over the course of 20 years working as a custom automotive painter. During his time as a renowned custom painter he has had more than ten cars featured in high profile national automotive magazines, most notably in Low Rider magazine, where he was honored with the cover and featured centerfold. His experience as an auto painter inspired the, “Contemporary Abstract Art,” he creates today. His work can appropriately be described as the fusion of sleek ‘industrial’ design that encompasses the flare and visual vibrancy seen inside elite showrooms on the custom body work of high-end vehicles. Using sheet metal as his canvas, Sonny creates unique and reflective modern artwork. The surface of each piece is uniquely etched with various grinding patterns that is then accented and finished with the experienced personal touch and masterful usage of a variety of vibrant, “candy coated” paint colors. The aptly named, “iCandy” artwork is currently on display at THRIVE.

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Venue: Rising local business, THRIVE– a premier LoDo Denver Co-working office space, has taken its appreciation for the arts and incorporated it within the daily business culture of its progressive workspace. THRIVE’s goal is to provide a creative and innovative environment that enhances membership and stimulates business growth by showcasing the inspirational works of local artists inside its walls. Thrive is currently displaying the vibrant, “iCandy” wall art by Sonny Valdez- the first of many local talents to be displayed within their within its energetic and rapidly evolving modern workspace.

In addition to enhancing the everyday experience for members and visitors with lively artwork, THRIVE stretches its daily operations past the monotony of the traditional workplace by regularly hosting after hour meet-ups, networking and social events designed to bring people from the professional community together in an appropriate setting to market, pitch, educate and expand their businesses.

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Event: Friday, February 22nd at 7:00pm- THRIVE will be hosting an Open House to promote local arts and bring together local business professionals, community and Denver nightlife. “iCandy” art will be on display, accompanied by a silent auction, music, food and beverages. [THRIVE at LoDo- 1830 Blake St. Denver, CO. 80202)]

Griffin Ignelzi is the Office Manager at THRIVE Workplace Solutions, when he isn’t writing blog posts for Rockies Venture Club, he just stares at the mesmerizing art on the walls.