Initiative Assists Entrepreneurs and Startup Management Teams to Become Strong Candidates for Growth Financing
HERNDON VA, November 28, 2000 -- LaunchFuel, Inc., a premier venture services provider that works closely with venture capitalists, angel investors and incubators to move Internet and technology startups more quickly and successfully to market, today announced a program called VentureBoost. VentureBoost assists qualified entrepreneurs as they prepare to raise formal rounds of capital. As a prerequisite for VentureBoost consideration, LaunchFuel requires that candidates have, at a minimum, completed an early round of financing such as "friends and family" or an angel round.
The first VentureBoost session was successfully held on November 14, 2000 with participation from members of the LaunchFuel Alliance Network. The next session,
scheduled for December 14, 2000, will be held at LaunchFuel's corporate offices in Herndon, VA. LaunchFuel plans to hold monthly VentureBoost sessions throughout 2001.
Under the VentureBoost program, entrepreneurs have an opportunity to present their business concepts to a panel consisting of LaunchFuel professionals and experts from venture service companies selected from the LaunchFuel Alliance Network, each of whom understands the unique challenges encountered in the formative stages of building a business. After each presentation has been made, the panel provides direct and immediate feedback related to several key areas of their business idea including:
[corporate identity/communications - brand position]
[technical assessment - product management]
- Business Development/Alliances
[channel strategy - sales and distribution]
[business model refinement -- market opportunity]
[pro-forma financials - profitability - exit strategy]
- Overall Presentation
[structure of materials - content - delivery style]
LaunchFuel firmly believes that this type of prompt and direct interaction is most beneficial to entrepreneurs as they refine critical areas of their businesses - particularly as the investment community has become increasingly discerning.
"We found LaunchFuel's VentureBoost activity to be a great forum for straightforward analysis and constructive feedback as we prepare to position our company for growth financing," stated Tom Harsanyi, vice president of business development for Intermobilenet, a wireless voice and data communications platform provider. "In our case, the VentureBoost panel included a CTO, CFO, COO, and CEO from successful startups and the advice that we received was extremely valuable."
"LaunchFuel's VentureBoost initiative provides an efficient, yet formal, platform for entrepreneurs that are preparing to raise formal rounds of venture financing," said Mary Knebel, president and chief executive officer for LaunchFuel, Inc. "LaunchFuel serves as a 'deal flow' hub for investors, entrepreneurs and service providers - this community is replete with proven expertise and our goal is to leverage our position with these groups to help entrepreneurs become stronger candidates for investment," Knebel added.
About LaunchFuel, Inc.
LaunchFuel is a venture services provider that offers strategic guidance and operational expertise to Internet and technology- related startups. The LaunchFuel team has years of hands-on experience working at companies such as AOL (NYSE:AOL), AppNet (NASDAQ:APNT), Ciena (NASDAQ:CIEN), MicroStrategy (NASDAQ:MSTR), Proxicom (NASDAQ:PXCM), PSINet (NASDAQ:PSIX), and Qwest (NYSE:Q). In addition, through its Alliance Network, LaunchFuel brings to bear expertise outside of its core competencies in areas that are also critical to Internet and technology start-ups. LaunchFuel was founded in August 1999 and is headquartered in Herndon, VA. For more information regarding LaunchFuel, please visit www.launchfuel.com, contact us directly via telephone at 703-736-0252, or via electronic message to
email@example.com. For more information regarding the VentureBoost program, please send an electronic message to