HOTB Software Solutions
HOTB is a highly experienced software development company that provides in-kind angel capital to startup entrepreneurs with a viable technology based business. HOTB helps startups bridge the gap between their friends and family round and their venture capital round by subsidizing expensive technology needs. HOTB specializes in building custom software platforms to provide certainty of execution, experience, credibility, security and compliance. Additionally, HOTB Ventures has been formed for instances of passive investment when software development is not needed.

Manatt
Manatt, Phelps & Phillips, LLP is known for quality, for extraordinary commitment to clients, for integrated, relationship-based services, and for a range of capabilities typically found only in boutique firms. We are progressive and entrepreneurial compared to other major firms, and we are deeply committed to diversity, to public service, to involvement in the communities we serve and to excellence in all we do.

TriNet
Tech companies partner with TriNet Passport to compete for top talent by using our bundled HR products that cover the core services of payroll, fortune 100 benefits, risk and compliance, a scalable HR team all on a cloud platform. TriNet reduces the time businesses spend managing HR and administrative issues while providing enterprise-grade cloud capabilities. This enables entrepreneurs and management to focus on what’s important from raising funds to driving revenue. Join hundreds of executives in high tech who have experienced the TriNet Passport difference, working for companies in hardware, software, SaaS and telecommunications. Contact choy.chew@trinet.com for more information.

Eureka
The Eureka Building is a 3-acre technology campus in Irvine, California designed to help accelerate innovation. Founded in 2014 by Peter Polydor, our goal is to support local entrepreneurship by giving innovative companies and entrepreneurs in Orange County a home that is centrally located and easy to access. Through partnerships we are more than just a home, but are a support network hosting startup events while fostering mentorship relationships with our partners all within one of the most creative spaces in the region.

CrashLabs
CRASHLABS IS A VIBRANT COWORKING AND EVENTS COMMUNITY THAT ENHANCES WORK/LIFE BALANCE FOR THE NEW ECONOMY OF UNTETHERED WORKERS. CRASHLABS OFFERS CREATIVE AND FLEXIBLE SPACES SUCH AS OPEN DESKS, DEDICATED DESKS, PRIVATE OFFICES, AND EVENTS SPACE THAT SERVE EVERYONE FROM THE INDIVIDUAL TO CORPORATIONS.

Real Office Centers
At ROC you’ll find a cohesive and progressive working environment with professional support for entrepreneurs, innovators, and today’s leaders. Beyond merely providing the physical workspace, we contribute to your capital growth by facilitating innovation, inspiration, and collaboration. With professional support services, educational events, and a stimulating environment, ROC is where you and your company will grow. Our open-source work environment and friendly staff complete with private receptionists keep business running smoothly. ROC handles day-to-day operations and facility management so your company can focus on what it does best.

Six Reasons Your Startup WONT Raise Capital, by @DaveParkerSEA

Posted by Jonathan Greechan on 2013-10-30

Founder Feedback gives you insight from the startup trenches.

In a post from his blog, Dave Parker, VP of Product at UP Global and mentor for the Seattle Founder Institute, lists his top 6 reasons startups fail to raise capital. He says, before taking friends and family investments, make sure you aren’t making any of these 6 mistakes.

Below, Six Reasons Your Startup WON'T Raise Capital has been republished.


Here are Six Reasons your startup will never raise capital:

6. You’re a Services Business - services businesses don’t raise outside capital because they don’t have the potential return.  The reason is that you need to increase your staff every time you add a new customer. You need a scalable product business so that as you grow sales you aren’t required to grow staff proportionately. Don’t know if your business is a product or a service? Can you make money when you sleep? You have a product.

5. You don’t have a product - you have a “concept” or an “idea”. The Founder Institute runs a program called the Founder Showcase, and to even be considered for presenting to a group of 400+ people with around 100 investors, you must have a product – not slideware, a prototype or demo. Can a person or a business go to your product and place an order (even if it’s free) and then use the product? Landing pages and demos are great for proving your concept, but don’t plan on raising capital until you actually have a product.

4. You’ve picked a crummy market - because it’s small, not well-defined or incredibly difficult, like music (see Is Your Company Standing in a Graveyard). Your market doesn’t have to be multi-billion $$, but it can’t be small. I see folks pick non-profit markets for for-profit ideas, another bad idea.

3. You don’t have a team  - it’s just you, and sure you’re the smartest person you know, but you need a team. Many investors will tell you that they are betting on the team because they know it’s highly likely that your first idea isn’t going to be right. Then it’s all about the team pivoting to a new and better idea. Take Odeo becoming Twitter as an example.

2. You don’t have any market traction - you have a product, now the question is “do your customers care?”. Do you have registered users, letters of intent, actual sales or revenue? Even if you have two customers, that’s not validation of your product (unless they are $1M each). Are you making clear progress into a model that you can scale? Traction can be defined in a lot of ways - here’s a great blog post from Fred Wilson on Traction -

1.  You need the money - just because you need the money doesn’t mean you can raise any money. In the early stage you’re going to have to boot-strap your idea. That may mean you need to write a check or learn how to code.

But, but, “all those things don’t apply to me or my idea”! I know, you’re “special” and Aunt Millie will give you money. That may be true, but before you take “friends and family” money, increase your chance of providing a return by doing the above six things.

Dave Parker blogs at http://dkparker.comYou can also follow him on Twitter at @DaveParkerSEA. If you could benefit from expert training and feedback to launch a startup in Seattle, click here to learn more and apply today. Final applications are due Sunday, November 10.

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Six Reasons Your Startup WONT Raise Capital, by @DaveParkerSEA

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