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Money Hunt
Whip out your remote control, and tune in to Money Hunt, a public television program that gives entrepreneurs the opportunity to pitch their ideas to a national audience.
Entrepreneurs are chosen to appear on the show through a competitive process. Once on the show, they pitch their plans to a live studio audience and a panel of venture capitalists, as well as an audience of a million viewers. By watching this show, you can learn about what it’s actually like to pitch your plan to potential funders who are more than willing to shoot it full of holes (this is a good thing!) Learn more about the show, including when and where it airs, and how you can be a guest, by visiting the Money Hunt website.
Business plan competitions
If your school runs a business plan competition, you’re probably already familiar with the benefits of getting involved. Not only do you get the chance to win some hard cash for your business, you have the motivation to get your business plan written, and probably some guidelines to help you make it work.
Venture forums
A venture forum is an educational program designed to help entrepreneurs at various stages of development of their businesses. One of the best-known examples is the MIT Enterprise Forum. The Forum has 23 chapters nationally and internationally, and offers seminars and online publications.
Search the Internet for more venture forums, or call your local Chamber of Commerce to find out what’s happening in your area.
Venture fairs
Venture fairs have been around for years, but, according to David Freschman, President of the Delaware Innovation Fund and chairman of a venture fair known as Early Stage East, an increasing number of venture capital fairs are catering to early-stage businesses. These fairs are attended by individual angel investors, and early-stage venture capitalists. They help entrepreneurs increase the number of investors exposed to their companies, and compress the time frame for raising critical early-stage financing.
Venues for pitching to investors at venture fairs include social receptions, display booths, meals where tables are clearly marked as “owned” by entrepreneurs (investors get to choose whom they sit with), and formal presentations.
Talk to your professors
Although academics aren’t known for having access to a boatload of cash, try talking to your professors. Some professors are in fact interested in investing in student projects. Others may have contacts in the business world and be able to introduce you to potentially interested funders.
Talk with alumni
Ask the alumni relations office for help in contacting people in your field. If your school has an entrepreneurship club, some of these contacts may already have been made. Even if you don’t find immediate funding through alumni, the contacts you make may lay fertile ground for the future.
Your friends, your parents, your friends’ parents
Tell everyone what you’re up to. Getting the word out is key to getting what you need for funding. Let people know that you’re looking for funding resources, and make it clear what you’re expecting to give in return. People like to help people, and many people are natural connection-makers. The more you talk about your work and your funding needs, the greater the chances that you’ll stumble on the right person to help. |
