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How To Find a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Most investors do not lead the fundraise round but rather follow-on. There’s a great deal of work and…

What Is the Value of a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor can be an important resource to a startup. Here’s a list of values lead…

Role of the Lead Investor After the Fundraise Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor has a role before, during and after the fundraise. Here are some key…

What Are Co-Lead Investors? Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor typically takes up to half of the round in return for leading the diligence and setting…

Disadvantages to Being a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. While there are many advantages to being a lead investor there are also disadvantages. Here’s…

Advantages to Being a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. While the lead investor has many responsibilities there are also advantages. Here are some…

Attributes of a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor leads the process of negotiating the terms of a deal with a startup. Here are some key…

Responsibilities of a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor leads the diligence and negotiations with the startup. Here’s a list of…

What Is a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. A lead investor is an individual or a group that leads the startup funding round by performing the diligence…

Managing the Grant Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. After winning the grant, the work begins. The research must be carried out and the grant providers must be kept…

Best Practices for Writing a Grant Proposal Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The grant proposal will be read by many people of varying background and technical skill….

How To Write a Compelling Abstract Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In applying for a grant, it’s important to include a compelling abstract. Not everyone involved…

Mistakes in Applying for a Grant Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Grant applications are complex and come with many challenges. Here is a list of common mistakes in…

How To Write a Grant Proposal Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. There are many sources of grants beyond the government such as family offices and foundations. These…

How To Prepare a Grant Application Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The grant application process can take over three hundred hours to complete. Take these steps to…

Conditions for Using a Grant Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. SBIR grant funding comes with requirements for how to use it. SBIR funds for phase 1 are focused on…

Success Rates for Grant Funding Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Grant funding is challenging to obtain. Only a fraction of applications receive funding. Over the…

Where To Find Grants Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. There are many sources of grants for startups. The main funding source for government grants is the SBIR and STTR…

Lifecycle of Grant Funding Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The grant funding process goes through a well-defined lifecycle. Here’s the lifecycle process: Planning…

Pros and Cons of Grant Funding There are pros and cons to grant funding. Here is a list of pros: The funding does not need to be paid back. The funding is non-dilutive as no equity is given. Grants are easy to identify. Grants won can help in raising funding…

Checklist for Writing a Grant Application Before writing a grant application make sure you have these things ready to go: A clear statement of the status of the technology and how it works. A value proposition of the technology and how it can provide benefits. A clearly defined goal for…

How To Use Grant Funding After winning a grant, you’ll need to apply the grant funding to your project Consider these best practices on how to use grant funding: Build a rapport with your grant representative. The grant representative is your contact point with the granting organization. Find a way…

Applying for a Grant In applying for a grant consider these factors: Set aside time for writing the grant application. It takes over 300 hours to properly write an SBIR grant. Make sure you are giving it the time and attention it requires. Understand the grant review process. Each granting…

Should You Pursue a Grant? Grants provide seed money to startups. Consider these points in determining whether or not you should pursue a grant. Grant funds can only be used for the stated purpose in the grant proposal. If you need funds for operations, inventory, or administrative tasks, then you…

What Is a Grant? A grant is funding to a startup to further the business but does not take equity nor must be paid back. The government provides grants to startups to help commercialize the technology and foster economic growth. Federal grants are given to startups to promote specific technology…

Mistakes in Commercialization Commercialization of technology requires key skills in market research, product development, and customer engagement. Avoid these mistakes in commercialization: Focusing on researching the technology only. Set aside time for selling, marketing, and product development. Failing to maintain commitment. Tech commercialization requires several years of work to achieve….

How To Engage Academics Into Commercialization Universities often encourage academics to commercialize their technology to advance their research. Here are some key steps to engage academics into commercialization: Focus on the impact of the research rather than the revenue generated. Encourage the researcher to promote the technology into other groups….

Best Practices for Commercialization In commercializing technology here are some best practices to consider: Educate the market about the problem you solve and the solution you offer. It’s often the case the technology founder assumes the world understands the problem. You must educate the potential customer about the problem and…

How To Build an MVP Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. A minimum viable product or MVP is a usable product that has minimal but must-have features. Here are the key steps to building your MVP:…

Using Prototypes To Raise Funding In raising funding, a prototype is invaluable. Here are some reasons why investors fund projects that have a prototype: The prototype demonstrates you can build it. It gives you a tool to engage customers.   Prototypes help you define the product better by observing how the…

Steps to Creating a Prototype A prototype is an early model of your technology to show proof of concept and gather feedback from potential customers. Prototypes can also be used to raise funding from investors. For building a prototype keep these key issues in mind: The current market for your…

Purpose of Prototypes in Commercialization In commercializing your technology one of the most important elements is building a prototype. Prototypes provide several benefits and should be a high priority to complete as soon as possible.  Many inventors use their resources to write another white paper or run another experiment. The…

Best Practices for Grant Writing Raising grant funding is a key step in commercializing your technology. Here are some best practices for grant writing to consider: Research the goals and objectives of grants to understand what is currently of interest. Make sure you have set up a legal entity for…

Funding Options for Tech Commercialization There are several options for funding the commercialization of technology. Here’s a list of sources to consider: Self-funding — consider putting some of your own funds into the business. This proves to others your commitment to the project. Make sure this funding goes to key…

Finding Anchor Customers An anchor customer is one that provides a substantial amount of business on a recurring basis. These customers are important as they give you a base level of business each month. You save the time and cost of prospecting for the customer as they are already signed…

When Should You License Your Technology Instead of Building a Startup In commercializing your technology there are two primary paths:  building a startup or licensing the technology to others. You should consider licensing your technology when the following conditions exist: The development cost of bringing the final product to market…

How To License Your Technology Licensing your technology to another company provides another path to commercialization. Here are some key steps to licensing your technology: Prepare information about the technology including an introduction, product description, and manufacturing information. Also document the product benefits, market research, and pricing. The product information…

What Is Licensing in Commercialization Licensing in commercialization is the right to manufacture and sell a product with the technology of another company.   In return for the right, the licensee pays a royalty fee for each unit sold. Licensing brings the following advantages to the licensee: You gain the know-how…

Key Legal Documents Used in Commercialization There are several legal documents used in the commercialization process Here’s a list of key documents to know: Non-disclosure agreement — referred to as an NDA, this document requires the signatories to confidentiality with regards to information about the project. Material transfer agreement —…

Different Paths of Commercialization There are different paths of commercialization. These paths include startups and licensing. Founders license the technology from the source and then establish a company to create a product to sell for a profit. The startup requires a team to build, sell, and support the product. The…

Innovation Models Technology commercialization applies new technologies to the formation of a business. Innovation drives technology commercialization. To grow your business you may need to foster the development of the technology and its supporting functions. Here are several innovation models to consider to grow your technology. Open innovation model. Some…

Intellectual Property in Commercialization A key component in commercialization is intellectual property. Intellectual property refers to work or invention that comes from the creativity of the mind such as a design, literature, or artistic works.  It comes in several forms including patents, copyrights, trademarks, trade secrets, and industrial designs. Government…

Testing Your Idea for Commercialization Before commercializing your technology, test the idea with these questions: What product should you build? There are many ways to apply technology to a problem. Who is the target customer and can they pay for it? It’s important to gain clarity on your target audience…

Key Steps in Commercialization Once you start down the path of commercialization, there are some key steps to accomplish. Determine patent strategy. There are several ways to protect intellectual property including patents, trade secrets, trademarks, and more. Review each option for your technology. Gain a Freedom to Operate opinion. This…

What Is Commercialization Commercialization is transitioning technologies from the lab into products in the marketplace. It is important because it brings new technologies to solve problems. Technologies and products bring new capabilities and can also reduce the costs of existing solutions. Commercialization requires refactoring the technology into a product that…

Key Questions for Succession Planning Succession planning is a key part of running a family office. Here are some key questions to consider in planning your succession program. Do you need a succession plan? All family offices need a plan to help transition the business to the next management team….

Succession Planning for Family Offices In running a family office, succession planning is an important function. Here are some key considerations in succession planning: Understand the generational differences in the family and how it may impact the future leadership. Some generations do not want to continue a family office but…

Best Practices for Running a Family Office In running a family office here are some best practices to consider: Set up a mission statement that captures the values of the family. Tie that mission statement to the operational goals and financial results. Set up the legal entity and the operations…

Best Practices for Setting Up a Family Office In setting up a family office consider these best practices: Build an investment strategy that leverages the strengths of the family including their skills, resources and network. Set up a formal diligence process to screen incoming deals in a rigorous manner. Assess…

Drawbacks to Starting a Family Office There are drawbacks in starting up a family office. Consider these challenges in setting up your family office. The upfront and ongoing costs can be considerable. These costs include the following: Hiring professionals and operational people can cost a great deal in today’s market….

Operational Objectives for a Family Office In running a family office there are several key operational objectives for the family office to achieve. Here’s a list of key areas to consider: Governance. This includes leadership, board management, communications and succession planning. The leadership should continuously improve the operational efficiency of…

Choosing a Leader for a Family Office In setting up a family office, one must choose someone to lead it. There are several types of leaders to consider: Operations — focuses on the day-to-day tasks of running the business. This leader provides oversight over all aspects of the business including…

Problems in Family Offices There are challenges in running a family office. Here are some key problems to watch out for: Treating the family office as a hobby rather than a business. The family office is a legal entity with employees, investments, and tax filings. It’s important to treat it…