#sevc

Everyone deserves some fun! 🐾

The age-old ‘East Versus West’ debate was a common theme at this year’s SEVC conference in Charlotte, NC.  And quite frankly, I am over it.  Not really a big surprise, I know, but after listening to practically every panel offering some kind of comparison or best practice, quite frankly it got a little old.  I am tired of making excuses or feeling that we don’t measure up. Don’t get me wrong; I respect our fellow entrepreneurs and their accomplishments on the other coast. But it also starts to become a self-fulfilling prophecy after a while.  Of course, if investors continue to focus their investments, resources, connections, etc. in that area then you are going to see more successes.  But look at we have done in the Southeast without that same kind of lavish attention.  Yes, we could use more folks in the “startup pool” that are willing to leave those lifestyle careers at SAS or Cisco but we need the backing of venture firms to create more companies so that when one startup fails there is another one to join.  Do you think Silicon Valley made it there overnight? Why don’t you share some of those resources and let us show you what we can do. 

Need more convincing?  Here are some figures that came out of one of the SEVC panels (my apologies as I can’t remember the source but thinking it was Trevor Kienzle at Correlation Ventures)…I think they speak for themselves:

East versus West (since 2000):

Returns have been even – both 1.5x on both coasts

Exit values are 93m on West and 60m on East

Valuations are 57m on West and 36m on East

All with lower capital raised on East (25m) and 30m on West

Bottom line: There is more capital efficient behavior on the East Coast

To take the words from some famous folks that worked hard to bridge the gap between east and west: 

You're all invited back a gain to this locality 

To have a heapin helpin of our hospitality 

Set a spell, Take your shoes off. 

Y'all come back now, y'hear?.

Most of the presenters at SEVC are already on the path to success. Last year's presenters had an average annual revenue of $5.9 million and $6.7 million in raised capital. But, that doesn’t change the facts -- the stakes are high and it’s not enough to just think you’re the next big thing.

Are you really ready to be exposed to the region’s top venture capitalists and private equity investors? What problem(s) does your company solve? How do you know someone isn’t already “copying” you? Do you have evidence of traction in your industry or customers? What does your team look like? Whether you are presenting at SEVC or simply attending, you need to be ready to answer tough questions from potential investors. 

As entrepreneurs serving entrepreneurs, we have several years of experience helping young companies secure funding, watching those companies mature after receiving funding, and working with investors to understand what it is they look for.  One of the best pieces of advice we have heard from investors, is not to waste a lot of time writing a formal business plan, and to keep your outreach to investors short and sweet.

Here are some other tips for SEVC presenters and attendees: 

Have your elevator pitch buttoned up - Start with strong key messages. Be prepared to talk about the problems you are solving, your target market, your unique competitive differentiators, market size, revenue/business model, financial projections, progress so far (including technology developments, customers, etc.) and how you plan to scale.

Be realistic – Have at least a basic understanding of your company’s valuation and how money you actually need to build that value/build your business. 

Do your homework - Which venture capitalists are relevant and would be interested in your potential investment? Do you have any mutual contacts that you can leverage? Don’t waste your time (or their's) if there is no relevance or synergy. 

Think about what you want/need from an investor, other than just money – Are you looking for hands on support, connections or relevant market experience? VC funding is much more than money. 

Be professional – Be the person they can believe in and want to invest in. Make sure you dress appropriately, speak articulately, demonstrate expertise and confidence, and share your passion. 

Now that you have an idea of what you should do, take some time to consider what you should steer clear from.  Just for fun, check out this video on how not to pitch a VC for some tips.  Hint – you might want to pass on wearing flashy gold jewelry and a red tracksuit at SEVC. Even Missy Elliot would disapprove.  

Crossroads Public Relations is eager to attend the Southeast Venture Conference (SEVC) this March. Crossroads Co-founders Shawn Ramsey and Kristi Lee John will be at the conference in Charlotte on March 13 – 14, and are ready for the two day discussion of the continuing growth of the tech industry.

SEVC will be highlighting more than 50 of the leading high growth technology companies from around the Southeast and Mid-Atlantic regions. Companies will range from Pre-IPO late stage firms to some of the most promising earlier stage high-growth firms.

According to the SEVC website, “The presenting companies are the present and future of the region’s innovation economy, representing some of the most promising technologies in the region from a diverse range of technology industries.”

Before the conference begins, we would love to hear from the presenting companies!

We are posting elevator pitches on Techpreneur Spotlight. This is a great way for your company to gain exposure to thought leaders, media and other entrepreneurial tech companies.

If you are interested in having your company represented, send us your elevator pitch and your answers to the following questions:

·      What is your company?

·      What makes your company different?

·      Why should your company get funding?

  Please email all submissions to [email protected].

Here's an excerpt from an email I received:

The deadline for companies to apply to present at the next Southeast Venture Conference is next Wednesday, December 21st.

Conference will be held Feb 29th - March 1st, 2012 at the Ritz Carlton in Tysons Corner, Virginia.

We'll have close to 60 presenters again this year from a range of industries such as Internet, Gaming, Bio-IT, GreenTech, Software, Communications, Medical Devices and Mobile.

If you think your company, one of your portfolio companies, a client or someone else you know is a good prospective fit to present, just have them drop us a line - we make applying super easy and quick.

We look forward to hosting some of the best emerging tech companies from the region again at SEVC 2012!

Southeast Venture Conference (SEVC) this week, keep a look out for Crossroads PR Principals, Shawn Ramsey and Kristi Lee-John. I just got word via Twitter that it's a sell-out event this year, so it might be tough to find them, but they're the ones currently cruising the Peach State event looking to meet B2B technology companies in attendance, and share some PR expertise - like how to reach their target audiences around the globe, how to leverage social media for thought leadership, the value of SEO, and more...oh, and they both have brown hair, Kristi's with blonder highlights.

If you do find Shawn and Kristi, make sure to ask about or keep a lookout for a customized Crossroads PR QR code to learn the top 5 PR mistakes early stage companies make and how to avoid them. That content is also available at http://www.crossroadspr.com/prmistakes. But it's much more fun to use the QR code scanner on your phone, trust me, I've done it and it's pretty cool.