Financing Sources Panel;
Tuesday, January 26, 2021
6:00pm to 9:00pm Eastern Time, Room: Virtual - Zoom
Part 1: Financing Sources Panel
You have identified the product/service and the market. You have settled on a business model and have done your financial projections. How will you finance the plan?
This session will cover: Bootstrapping the early stages. Funding from the 3 F's- Friends, Family and Fools. Angels- who are they and what are they looking for? Private placements. Customer financing. Consulting- getting someone else to pay for the development, provide a beta site and endorse your idea. Venture capital. Bank financing.
You will learn about the institutional constraints and needs of various funding sources. As a result you will be in a better position to determine if, when and how to approach these sources for financing.
This part of the program will feature a panel of experts discussing different financing sources.
The Financing Panel for 2021 has not been chosen. The Panel for 2020 was:
Experienced Technology Innovator and Investor
Read her bio here.
Part 2: Financial Projections
Armed with an understanding of the market for your products how do you figure out what financial resources you will need to bring a product to that market? This portion of the program will introduce some financial projection techniques based on actual business experience.
- Chapter 10, "Figuring Out Financials" and Chapter 11, "Forecasting and Budgeting" from Tiffany, Paul and Peterson, Steven, Business Plans for Dummies, IDG Books Worldwide, Inc. 1997. Students Registered For Credit See, Course Reader.
- Review the financial projections in the Virtual Ink plan.
- Download a copy of the Financial Template shown in the lecture.
- Download a copy of the Equity Distribution and Dilution spreadsheet shown in the lecture.
Former MIT 10K Participant; Serial Entrepreneur
Read Charlie's bio here.