First Flight

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100 Steps to Building a Company

Let’s talk about….angel funding

First Flight Calendar

Advanced Animal Diagnostics – FFVC Grad – raises $6M

admin — Fri, 17 May 2013 17:20:01 +0000

The gator was awesome (and again, we ran out).
Raleigh Brewery showed off a fine trifecta of beer (hosted by Olive Law Group)
Attendees devoured the shrimp, crawfish, and fixings until almost 8 p.m.
The Sap Boilers once again staged a fine evening of music

All in all, 300 people came, ate, drank and networked!!

admin — Tue, 30 Apr 2013 18:01:13 +0000

I’ve seen long articles, extensive powerpoints (overkill), list after list, diagrams and articles galore on the steps needed to start/build a company.

Here is the most concise list I’ve seen thus far – feel free to share, re-post and remember to cover these steps!

http://startupguide.com/entrepreneurship/steps-in-review/

admin — Wed, 24 Apr 2013 13:19:16 +0000

Negotiating with investors for money requires some degree of research, time and thought. It’s not enough to just take the first deal offered, and many times your first money will come from friends and family or angel investors.

The community at large often teaches start-ups to pitch to VC’s. The likelihood is the first round of money will be raised from F&F or angel, not VC’s. These individuals and groups have a different set of metrics and objectives, ones that are critical to understand when raising and negotiating these rounds.

Brian Cohen is a successful entrepreneur and angel investor (first investor in Pinterest). He has written a valuable book, crammed with insights about angels and the reasons they invest. He provides an overview of the differences, including the view that while VCs are investing money that has been trusted to them by their Limited Partners (LPs), angel investors are betting their own capital. That changes how they look at investments, and how they feel about the companies they do end up funding.

I see quite a few people a day who are starting companies. A couple a week who are pursuing funding and LOTS who are trying to work with angel groups as the VC’s move down the food chain to later rounds. I’m not generally into promoting books – but read this one, and this article www.fastcompany.com/3007974/what-every-angel-investor-wants-you-know.

admin — Thu, 11 Apr 2013 19:01:50 +0000

31
Events on May 31, 2013
Ptich Practice - open to all

Starts: 8:00 AM

Ends: May 31, 2013 - 11:00 AM

Location: First Flight Innovalyst Conference Room

Description: Open to anyone with a new idea, someone formulating Powerpoint slides, submitting grant applications or looking for input. Come with what you have - let's see what we can do to help!

More details...

admin — Wed, 10 Apr 2013 15:32:17 +0000

Congrats to the Advanced Animal Diagnostics (AAD) team!

Advanced Animal Diagnostics (AAD), a developer of rapid, on-farm diagnostics to improve animal health and productivity, announced today that it closed a $6 million tranche of Series B financing from Intersouth Partners, Novartis Venture Funds and private investors.

Funds will be used to launch AAD’s Qscout™ automated on-farm lab system and Qscout™ MLD rapid on-farm test for mastitis in dairy cows. Proceeds will also develop new tests to detect disease-causing pathogens in hours instead of days required by current tests.