How To Write a DAO Constitution

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In setting up a DAO it’s important to write a constitution defining the governance and establishing the rules.

Here are some key steps in writing a constitution for your DAO:

Start with the vision of the DAO by stating its mission and values.

Describe the governance structure including roles and responsibilities.

Define the guidelines for the members including rewards for adding value and penalties for causing harm with mechanisms for enforcement.

Include rules for protecting the members, the treasury, and other key assets and stakeholders.

Invite input from the members to review and comment on the draft.

Add new rules as the need arises.  

Set up a process for updating the rules.

There are many other DAO constitutions available.

Review and consider what can be drawn from them.

All of this must work within the software framework for running the DAO.

Consider these steps in setting up your DAO.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Delegated Voting in DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs bring many benefits to online communities such as member control over the direction of the DAO.

One of the challenges with current DAOs is member voting.

Just as voters in political elections are susceptible to apathy and lack of engagement so members of DAOs suffer the same challenges.

Voter participation is a problem.

One solution is the delegated voter in which the members give their proxy to another to vote on their behalf.

Delegated voters can solve the time problem in that not every member has the time to follow each issue.

The political system uses delegated voters in which the citizens elect someone to vote on their behalf for each issue.

There are challenges with delegated voters.

Once someone becomes a delegated voter it’s difficult to remove them.

Potential solutions are term limits.  Each delegate can serve only for a limited time period.

Another is limiting the number of votes a delegate can control.

This reduces the chance of concentration of power in too few hands.

Finally, there’s bribery in which members give their tokens to delegates in return for support for the member’s initiatives.

Consider these issues in setting up delegated voters.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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VC Usage of DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs bring many benefits to the startup fundraise.

These include a community focused on supporting a common cause.

And software to track the results and execute the policies of the group.

Venture capital will find both aspects appealing for startup fundraising.

Since the regulatory laws behind DAOs are not yet defined in the US, it is difficult to use a DAO directly for raising and deploying funds.

Other tools such as Special Purpose Vehicles or SPVs can be used.

DAOs can be used to support a fundraise such as harnessing the community to invest in the startup.

Since investors fund causes they support, the DAO is an ideal tool for raising funds.

The software tools based on blockchain technology can also be used to track the community’s interest and actual engagement in a fundraise.

Smart contracts for fundraising can also be reused by the VC industry to raise and deploy funds into startups.

There are several DAOs that track the newly formed DAOs.

This makes it possible to identify the appropriate communities to pursue for startup fundraising.

DAOs provide not only potential investors but also software to track the community of investors and smart contracts to execute the fundraise.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Fundraising With DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs bring a new level of community engagement to startup fundraising.

The community within the DAO can support the startup not only with investment dollars but also by promoting and supporting the startup.

Here are some key issues with using DAOs for your startup.

The DAO in most cases is not a legal entity but rather an unincorporated partnership.

This means the members of the DAO are personally liable for any damages the DAO may cause.

DAOs use a network of people to constitute the DAO rather than a formal hierarchy of leadership.

This means there’s no one person to go to for a decision.

All decisions are made by community votes.

A startup fundraising campaign must be able to engage the community as a whole.

Most DAOs transact with their native token.

This means the value is not tied to a fiat currency such as the dollar and can swing in value drastically.

To fund a startup there needs to be a mechanism for moving the tokens into dollars for the startup to deploy for hard costs such as paying taxes.

Charitable organizations raising funding must also consider that distributing tokens for donations may not qualify as a charitable contribution.

Consider these issues with fundraising through a DAO.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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On this episode of Investor Connect, Hall welcomes Mario Vasquez, Founder and CEO at Vest Social. Located in Georgetown, Texas, Vest Social is a newly launched platform aimed at connecting individuals and businesses in the construction industry. The company addresses the significant challenge many face in hiring skilled labor by leveraging technology to create a user-friendly environment where contractors and job seekers can find each other easily. With the app recently launched, the focus is on building a strong user base and refining the platform's offerings to better meet the needs of the construction sector.

Mario has dedicated his career to the construction industry, and his extensive experience led him to identify the growing need for a dedicated hiring platform in this field. With a background in tech and construction, he saw firsthand the difficulties in recruitment and decided to create a solution that not only simplifies the hiring process but also caters specifically to the construction trades. Over the past year, he has assembled a talented team to develop and launch Vest Social, showcasing his commitment to innovation in the industry.

In this episode, Mario discusses the initial launch of Vest Social, the challenges of building a user base, and the strategic decisions made regarding marketing and funding. He shares insights into the importance of targeted regional marketing within Texas, highlighting his desire to create a community where tradespeople can connect effectively and efficiently.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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DAOs Bring a New MVP

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations are communities with a purpose using software platforms to coordinate and execute the policies of its members.

Startups traditionally bring an MVP or Minimum Viable Product to the market to test interest and demonstrate they can build and deliver a solution. 

In the Web3 world, the startup is part of a community and must test interest with that group.

This shifts the focus of building something that someone wants to building something that a particular group of people want.

DAOs bring a community together for a common purpose.

Their requirements are more specific and in some cases more demanding.

Those within DAOs are more collaborative and supportive and can be not only users but also investors and potential employees.

This creates a new dynamic in building an MVP.  

It must not only solve the problem but also appeal to the people who have a stake in a cause and want to see it grow and develop.

The MVP in a DAO must be more compelling and aligned with the interests of the group.

The connection among members of a DAO provides more information and feedback than traditional communities.

Consider what your MVP must achieve to be successful in a DAO.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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DAO Use Cases

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations are communities with a purpose using software platforms to coordinate and execute the policies of the members.

Here are some key uses cases:

Form a charitable group to pursue nature conservancy.

Create a political action group to pursue a political agenda.

Set up an education initiative to foster new learning.

Build a services firm such as legal support to carry out legal activities on the blockchain.

Gather a group of people to bid on an historic artifact.

Support those who are victims of war and plague.

Set up a lending fund and use the DAO to disburse and collect the funds.

Use a DAO to raise funding for a community of startups.

Employ a DAO to buy a piece of artwork.

Create a DAO to specify, build, and offer a software platform for various uses.

Use a DAO to set up a fund to disburse grants to projects in a sector.

Create a DAO as a membership organization for reputation purposes.

Setup a DAO to keep track of all the other DAOs as directory resources.

Join a DAO that supports an influencer and helps promote their values.

DAOs can be used for many purposes including social, governance, political and economic.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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The Challenge With DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations are communities with funding resources.

A DAO is a network of people coming together to pursue a joint cause. 

It’s easy to start a DAO by creating a mission statement, setting up a software platform, and inviting people to join.

Then offer tokens to incentivize users to further the mission. 

Now comes the hard part -- growing the community.

Here are some key challenges:

Growing the DAO with new members who believe in the cause.

Building out the community with processes and policies.

Setting up accountability to ensure the members adhere to those policies.

Identifying strategies to incentivize the members to continue working on it.

Similar to any community interest wanes over time. 

As the DAO grows it’s important to set up bots and other software tools to manage the community. 

Despite the use of software to execute the policies, member engagement remains the key challenge.  

In setting up your DAO consider how to maintain interest and engagement with the members. 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Benefits of DAOs for Fundraising

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations can be used for startup fundraising. 

Traditional ICO fundraises were susceptible to scams as they were controlled by a small number of people who made decisions on their own.

DAOs bring many benefits to fundraising as follows:

DAOs are controlled by all the members and not just a handful of people.

All funds are stored with the DAO.

DAOs deploy the funds based on the votes of its members.

This removes the scams that were prevalent with ICOs.

The members can choose to continue funding a startup project or not.

This motivates the startup team to achieve their promised milestones.

DAOs bring additional benefits such as transparency as all transactions are stored on the blockchain and made accessible to the members.

DAOs make the project available to fund by everyone as anyone can join as a member.

DAOs  can also bring a network of suppliers, vendors, customers, and other stakeholders to support the startup.

DAOs provide a major improvement to the startup fundraising process over traditional fundraising models.

Consider using a DAO for your next fundraise. 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Liabilities in Setting Up a DAO

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations bring people together to pursue a common goal.

Here are some liabilities in setting up a DAO:

Traditional companies use a corporate hierarchy for defining the company and making decisions.

Decisions are made by the leadership and people within the organization execute those decisions. 

DAOs are network organizations that use software code in the form of smart contracts to execute decisions and track the results on the blockchain.

DAOs use a voting mechanism with its members to make decisions and determine policies.

Traditional corporations limit the liability of its leadership and employees.

DAOs are unincorporated partnerships that provide no such protection.  

In most DAOs, the members are anonymous which complicates KYC/AML requirements for financial institutions.

DAOs should consider registering as a legal entity to gain such protection.

Each state treats DAOs differently as unincorporated entities.  

Look for a state or country offering recognition of DAOs as an entity to register your DAO 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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On this episode of Investor Connect, Hall welcomes Gabe, CEO of Gunter Medical. Located in Houston, Texas, Gunter Medical is focused on developing innovative medical devices aimed at improving surgical outcomes. Their flagship technology aims to enhance surgical precision while reducing recovery times for patients. Gunter Medical has made significant strides in its development, exploring partnerships and seeking funding to bring its transformative product to market. The company operates with a strong team, leveraging experience in medicine and entrepreneurship to navigate the complexities of the healthcare landscape effectively.

Gabe is a seasoned entrepreneur and medical professional with extensive experience in the healthcare sector. With a background in surgery and medical device development, Gabe has a deep understanding of the challenges faced by both healthcare providers and patients. Before founding Gunter Medical, he worked with various startups, applying his practical knowledge to innovate and improve surgical technology. His leadership and vision for Gunter Medical have positioned the company to address pressing needs in surgical care, aiming for significant impact across the healthcare industry.

In this episode, Gabe discusses Gunter Medical's unique pricing strategy, its capital and disposable components for the medical device, and how the company approaches hospital procurement. He highlights the importance of securing a strong physician champion to facilitate the sales process within healthcare institutions. Additionally, Gabe shares insights into the company’s pre-sale efforts and their plan for FDA submission through a 510(k) pathway, as well as their commitment to supporting surgeons and addressing pain points in surgical procedures.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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How To Setup a DAO

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations bring people together to pursue a common goal.

Here are the steps to set up a DAO:

Create the DAO from an existing platform that provides DAO structures.

Choose a template that best fits the function of the DAO such as membership, company, or fundraising.

Set a name for the DAO.

Configure the template for your DAO.

Adjust the settings for the performance.

Launch the DAO.

Attach a wallet for managing funds and transfers.

You can either attach directly to a network such as Ethereum or set up a testbed.

Invite others to join the DAO and contribute to the cause.

DAOs give everyone the opportunity to vote on the direction and policies of the group.

DAOs range from small-group initiatives to large-scale movements.

Start with a small group and test out your idea before setting it up for scaling into a large network.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Forming Capital With DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations align a group of people toward a common goal.

Forming capital is often part of the process of achieving that goal.

Here are some key points in forming capital with your DAO:

The DAO should coordinate the members of the community and help achieve their goals.

The members should control the code and not the developers.

There needs to be tokens distributed for work performed in addition to capital invested.

A fundraiser for a DAO must include the amount to be raised, the tokens to be offered, and the rights those tokens bring to investors.

Determine in advance what type of tokens will be used such as stablecoins or your own coin.

Stablecoins remove the risk that comes from your own coin.

The cap table is formed when the funds are raised and the tokens are distributed.

Once the funds are raised they must be allocated between the treasury, yield farming and operations.

Raising for a DAO is no different than raising for a startup.

First, access your network.

Second, draw the circle wider and access those related to your network.

Use the success of the first raise to fuel the second.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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DAOs As the Next-Generation Crowdfunding Platform

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAO stands for Distributed Autonomous Organizations.

DAOs hold the promise as the next generation of crowdfunding platforms.

Crowdfunding lets anyone raise funding from anyone else through online means.

Here are some key benefits of using DAOs for crowdfunding.

The blockchain provides access to anyone to post and raise funding. 

It removes any censorship or gatekeeping.

DAOs provide the promise of building bigger, more complex networks for fundraising.

Current platforms are general platforms in most cases with no incentives for the members to fund startups.

DAOs can provide incentives to those who fund startups of their members.

By providing tokens, the startup can give additional benefits such as the use of the product, access to the team, or additional compensation for helping the startup.

The startup can find additional support through the DAO by accessing the members to buy their product/service, providing support, or enabling the growth of the startup.

It’s the network the DAO brings to the startup that makes DAOs superior to current crowdfunding platforms.

The regulatory aspect of selling ownership stakes into an entity must still be worked out.

Just as it took several years for crowdfunding to gain regulatory approval with clearly defined rules, DAOs must undergo the same process with the SEC.

Consider using a DAO for your fundraising.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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DAOs Are Like Gaming Communities

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations are like gaming communities.

A gaming community forms around a mission or challenge.  

There’s a software platform that brings the participants together.

There are rules about how the game is played.

Those who play well receive rewards for their participation such as avatars which is a form of recognition or tokens which is a form of compensation.

The software platform prescribes the rules in advance and uses software to execute those rules automatically.

DAOs take the gaming concept and apply it to any group with a mission or purpose.

Any group of participants who want to pursue a common goal can create a DAO.

They can engage on the software platform to further the proposed goal.

DAOs are decentralized in that there’s no one person or group that controls everything.

DAOs are autonomous in that they use software platforms to encode the rules of the engagement without gatekeepers or intermediaries.

Participants can vote on how the DAO grows and evolves over time.

DAOs can be applied to social, political, or business objectives.

The lessons learned from building gaming communities apply to those building DAO communities.

Consider using a DAO to engage others to achieve a goal.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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Background of DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations define the rules for coordinating a group of people in pursuit of a common goal.

Consider a group of people coming together with the goal of reducing pollution in their local area.

A DAO focuses and coordinates their efforts.

It provides a governance framework for how decisions will be made and by whom.

Software is used to track the rules, the members, and their contributions.

This provides transparency to all the members about who did what and why they received compensation.

The results are posted on a blockchain which keeps track of all activities, decisions, and results.

The rules are encoded into the form of Smart Contracts which respond to the actions of the members.

In our example, if a member picks up trash in the local area, then they receive tokens which are digital assets that give the member rights, access, or an asset of value.

If the members want more activities such as picking up trash they can vote to provide more tokens to those who do so. 

All members have access to the data as to what each member did and how many tokens they received.

DAOs are a good way to coordinate a group effort and compensate them fairly for their work.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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On this episode of Investor Connect, Hall welcomes Alice Loy, General Partner at Relevance Ventures. Located in Nashville, Tennessee, Relevance Ventures is an early-stage venture capital firm dedicated to investing in startups that promote social, environmental, and individual wellness. With over $125 million in assets under management, the firm strategically invests between $250,000 and $2.5 million across various sectors, including fintech, edtech, healthcare, and consumer packaged goods (CPG). The company is committed to supporting innovative entrepreneurs who aim to create positive change while delivering financial returns.

Alice Loy is an accomplished entrepreneur and thought leader with a strong academic background in entrepreneurship, holding both a master's and a PhD from the University of New Mexico. Before joining Relevance Ventures, Alice founded Creative Startups, the world's first accelerator focused on creative entrepreneurs, where she worked to empower artists and innovators worldwide. Throughout her career, she has cultivated deep connections with Native American communities, championing economic development and sustainable practices within those networks. Her unique perspective on impact investing has been shaped by years of experience working with diverse entrepreneurs and organizations.

In this episode, Alice discusses the mission of Relevance Ventures and its commitment to investing in wellness-driven startups. She highlights the firm's focus on transitioning from a traditional sick care system to one that promotes preventative health and well-being. Alice emphasizes the importance of supporting entrepreneurs who are motivated to solve significant issues within their communities while also building successful businesses. She shares her vision for cultivating a supportive network of investors and entrepreneurs who can drive impactful change in the wellness landscape.

Visit Relevance Ventures at www.relevanceventures.com, LinkedIn, and on Twitter. Reach out to Alice Loy at https://www.linkedin.com/in/aliceloy/  and on Twitter. You can also contact her via email at aloy@relevanceventures.com.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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What Are DAOs For?

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAO stands for Distributed Autonomous Organizations.

DAOs facilitate people's coordination toward a common goal.

DAOs give collective ownership to the members including decision making.

A DAO uses Web3 software to provide the coordination, voting, and governance rights of the members.

DAOs can be used for many types of goals including social, economic, and political.

Here are some example use cases:

A DAO can be used as a legal entity instead of an LLC or C-Corporation.

A DAO can provide compliance for meeting certain requirements such as environmental standards.

A DAO can be used to launch a social initiative to raise people out of poverty.

A DAO can be used to create an artistic movement and propagate the creative output of its members.

A DAO can be used to create a political action committee to further a group’s political agenda.

There are many more use cases for DAOs.

Consider using a DAO for your next project.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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What Are DAOs?

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAO stands for Distributed Autonomous Organizations.

A DAO is a group of people who join together for a common purpose.

A DAO is run by its members and uses tokens to incentivize and reward the members for their contributions.

Tokens give the members rights such as voting, governance, or access. 

DAOs are different from crowdfunding portals in that they create a group that has the ability to determine the policies and direction of the DAO.

The laws around securities for DAOs are not yet finalized so it’s unclear how the SEC will treat a DAO that raises capital for an ownership interest.

DAOs can be considered the next generation of companies with a new legal form, governance, and compensation structure.

DAOs can move faster than traditional companies, and serve the needs of its members more effectively by giving them control over the direction of the entity.

DAOs can be used for social, political, and economic initiatives.

In the early days, many DAOs were scams in which the members lost money.

DAOs hold the promise of providing an internet that serves everyone and not just a few.

It can provide a fairer place for doing business and providing content creators a fair wage for their work.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Capturing Their Attention

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In pitching an investor it’s important to gain the investors' attention.

The timespan for a pitch continues to shrink.

Here are some key points for how to gain their attention:

Get to the point fast.

Avoid spending time building context and use only what is necessary.

Start with something unexpected.

This makes them do a double take and focus on your presentation.

Involve them in the pitch by asking questions.

This generates interactivity which increases attention.

Make it about them.

People are always interested in how it impacts them.

Use interesting stories to make your point.  

Again, keep the story short and to the point.

Make sure the pitch is relevant to as many people as possible including both experts and novices.

For complex topics use analogies that people are familiar with to explain how it works.

Connect with first principles as these stand the test of time.

Help the listener see the problem in a new way and change the way they think about it.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Preacher Prosecutor Politician

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In pitching your startup you can frame the pitch in several ways.

Consider the preacher, the prosecutor and the politician as a framework for how to position your pitch.

Preacher mode is when your basic beliefs are in jeopardy.    

You deliver a sermon to protect and promote your ideals.

In the startup world this viewpoint is used in pitching an impact investment.

Your thesis is that the world needs to be improved and your startup is a part of that movement.

Prosecutor mode is used to prove something wrong. 

You make the case that your solution is better than the existing standard.

In the startup world this viewpoint is used in pitching in a competitive market. 

You need to make the case that the competition is not succeeding but your startup’s solution will do so.

Politician mode is used to win over the audience.

You play to their interests.

In the startup world you show how your startup will be successful and make a great return for the investor. 

This technique is most often used with startups that are  in a growth sector.

One in which the investors believe the sector will continue to grow.

Consider how to position your startup and which of these frameworks will work best. 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Research Question Frameworks for Biotech

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Biotech startups must show the efficacy of their solution.

Here are several research frameworks that biotech and medical device startups can use:

PICO 

P -- Population/Problem

I -- Intervention/Exposure

C -- Comparison

O -- Outcome

This is useful for quantitative research.

Here’s an example:

Our prosthetic limb (intervention) compared to the competition (comparison) improved mobility by 2X (outcome) for elderly amputees (population).

SPICE

S -- Setting

P -- Perspective

I -- Intervention

C -- Comparison

E -- Evaluation 

What are the benefits (evaluation) of preventing pneumonia (intervention) for elderly patients with cancer (perspective) in the hospital (setting) compared to no support (comparison)?

Finally, 

SPIDER

S -- Sample

PI -- Phenomenon of interest

D -- Design

E -- Evaluation  

R -- Study Type

What are the outcomes (evaluation) of children (sample) undergoing COVID vaccinations (phenomenon of interest) using multiple vaccines (design) in a double-blind clinical trial (study type).

Consider using these frameworks to present your results to investors.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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On this episode of Investor Connect, Hall welcomes the CEO of Vimers. Located in San Jose, California, Vimers is a Y Combinator-backed startup focused on transforming static images into engaging animated videos. The company aims to help brands, creators, and designers connect better with their target audiences by providing an innovative solution that enhances storytelling through visually dynamic content. Vimers allows users to animate their photos effortlessly, thus improving engagement across social media platforms and reaching potential customers in a more compelling way.

Basil is an ambitious entrepreneur with a strong background in technology and digital content creation. He has been pivotal in leading Vimers since its inception, focusing on product development and market fit while ensuring the company meets the growing demand for more interactive digital media. His leadership has helped Vimers achieve significant milestones, such as generating over 100,000 videos monthly and securing partnerships with major platforms like Canva, Adobe Express, and Shopify. These integrations position Vimers to be a leader in the animated content space for both B2C and B2B markets.

In this episode, Basil discusses Vimers' innovative approach to animation and its competitive advantages over rivals in the industry. With an attractive pricing model and unique features like batch processing capabilities and API integration, Vimers differentiates itself by offering customized motion controls that cater specifically to the needs of B2B clients. Basil also shares insights into the current funding round, aiming to raise $3 million to support the company’s growth and marketing efforts, and discusses the valuation criteria that potential investors should consider.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Mistakes in Synthesizing Answers

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In providing synthesized answers to the investor, here’s a list of key mistakes to avoid.

The most common mistake is summarizing instead of synthesizing.

Summarizing is not synthesis.

In this case, one recounts what was said but doesn’t create any new information.

The second most common mistake is citing facts, telling stories, and recounting general information without any particular point.

Synthesis creates a new concept from the facts and contextual stories that was not known before.

The third most common mistake is reciting the history of the startup rather than giving a synthesized answer.

The founder mistakenly believes that telling the backstory provides enough information to let the listener draw what conclusions they want.

Stories take a great deal of time and don’t answer the questions directly.

In a fundraise the main point is to show the company solves a significant problem with a meaningful solution and the founder has built a fundable company to deliver it. 

Instead of summarizing, focus on the main point and show the support for it.

Instead of citing facts, combine them into a coherent case that supports the main point. 

Investors look for short and to the point answers to their questions.

Finally, avoid using the story form for most answers.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Synthesizing the Components for a Fundraising Pitch

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In formulating a pitch for a fundraise, you must synthesize several sources of information.

Here are the steps to synthesizing the components for a fundraise pitch:

Start with the topic stating you have a fundable startup.

State the problem you are solving.   

The problem must be big and compelling.  Small problems don’t justify funding.

State the solution.  

The solution is what the company will use to solve the problem.  This is often the basic technology or approach to solving the problem. 

Show the product you will bring to market.  

The product shows the solution in action.

Show the team you have assembled and why each of the top level people are the right ones for the task at hand.

Outline the business model showing how the business makes money.

Show the current traction with customers.

It helps to state a customer ROI with the product.

List the nearest competitors and how the startup's solution is superior.

Show the financial projections at a high level, showing revenue, cost, and profits.

Show the fundraise amount with the deal terms.

Finally, show the proposed path to an exit.

Use synthesis to combine the information from several sources to show the startup is fundable. 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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More Best Practices in Answering Questions

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Here are more best practices to consider in answering investor questions

Take a moment before answering the question to show you are giving a proactive response.

Watch your body language and make sure you are not giving non-verbal cues.

Repeat the question back so you confirm you heard the question correctly.

Offer to find the answer if you don’t have it already.

If you can’t answer the entire question, then break it down into parts and answer what you can.

Ask for clarification on words that can have multiple meanings.

Keep your answers short and to the point so they can ask more questions.

Inject some humor into the response to lighten the mood.

Prepare answers to commonly asked questions so you have those ready to go.

Ask questions in return to help guide the conversation such as 

“What is your primary concern about the deal?”

“What do you like best about this deal?”

The more information you can gather the better you can answer the questions. 

Use these best practices to respond to investors.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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Best Practices in Answering Questions

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Founders answer many questions during the fundraise process.

Here are some best practices in answering the investors questions.

Answer the question asked directly and to the point.

Avoid long winded stories.

Anticipate what questions will be asked and have a response ready.

If the question is unclear then rephrase the question to see if that’s what they are looking for.

For example, “When you ask about margin are you asking about gross margin?”

Find out what they already know.

For example, “How familiar are you with AI generation systems?”

Avoid using acronyms in answering questions but rather spell out all the terms.

Ask if your response answered their question giving them an opportunity to refine their question.

Turn weak questions into good ones by expanding the answer to provide new and relevant information.

Adjust the answer for the skill level of those asking.

For example, if the investor is not a technical person, then provide a non-technical answer to questions using plain English.

Use these best practices in answering investors questions.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

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For Investors check out: https://tencapital.group/investor-landing/ 
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