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  • Billie Guinto

Capital Funding

Thank you, Al Bsharah, for speaking to All Source Events LLC and InstaRateUs teams at REC Innovation Lab under Director Tanya Hertz about how Interlock Capital is working to revolutionize funding for early-stage ventures and founders. Who before, might not have had actual access to funds and making it possible for us to get funded. Many founders and companies fail at raising capital and blame it on all kinds of things. Some come to the realization that they might not be ready. And that's okay. Founders are stubborn because that passion that drives us to do the crazy things sometimes blinds us a little bit. And so, there's a bunch of things that we must do to prepare and to get to the point where we are ready to raise money. First up is a network, a group or system that’s interconnected. Angels and VC’s that we are already talking to and building relationships with makes it easier to raise money when we are ready. This is like a dating process, especially if you're in the pre seed early stage of a business because you don't have as many metrics or proof points. So, figure out whatever it is that you’re doing and be the one to realize that you’re going to have to find a way to do better. Just like you don’t ask to get married on a first date, though some people probably have, that’s not how it works, so don't ask for money when you've just met somebody either. Give regular updates to show progress and show execution to build their confidence in you and what you're doing so when you're ready to raise money, they will be ready to fund you as well. Meet with people to grow and expand and improve upon your network, update them on your accomplishments. Update your list, monthly, when you're not raising, and weekly when you are. You can adjust that to your own needs as a rule of thumb.

#innovation #entrepreneurship #startups #building #network

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