This Is A Game Changer For Entrepreneurs…

At FundingUniverse (a company I work closely with and plan to continue to help grow their incredible mission in a variety of ways), they pride themselves on doing everything they can to help entrepreneurs. This is a rather broad statement, but it’s true. They work with over 7,000 thousand of businesses a month, all around the USA and sometimes beyond, to help them with the variety of needs their ideas and businesses face on the way to financing.

Equity and debt are the two ways to get outside financing, and I dare say Funding Universe offer more options, and a higher success rate, then any other option available to entrepreneurs today. So far this year, they have helped entrepreneurs receive over $30MM in financing, and that number will grow strongly between now and year-end.   That is particularly impressive in this economy.  And it gets me excited personally because my passion is to help entrepreneurs.

In 2010, Funding Universe will be opening physical offices in Seattle, Portland, San Diego, Sacramento, San Francisco, Las Vegas, Boise, Phoenix, Austin, Boulder/Denver, Chicago, Boston, Miami and probably a few more yet to come. The model they have for helping entrepreneurs find the right path to the financing they need is one they have spent countless years/hours on. I have seen it first hand, and it is an impressive and successful process for entrepreneurs to go thru.  Their team is there everyday thinking of ways to help entrepreneurs be more successful.  I love that!

One of the coolest things that Funding Universe does in regards to their relationships with entrepreneurs is the hosting of events designed to help them get the funding they seek. CrowdPitch, just such an event, is a ‘Shark Tank / American Idol’ style pitch featuring 5 great companies in front of a live audience and a live panel giving real time feedback. The winner of the event (announced at the event) can go home with as much as $5K – $10K in prizes. Audience members ask questions, write down feedback, and vote along side the panelists by placing FundingUniverse money in the hands of the presenting companies at the end of all presentations. The winner of the grand prize is the one with the most investment dollars.  A funny sidenote, a second place company last year was sold to Disney this year for a strong exit – so the caliber of companies presenting at these events is very high.

The panel of experts provides real time feedback as well – and in combination with their additional written feedback and the summarized written feedback gathered from the audience, Funding Universe provides a detailed summary of all these thoughts to each of the 5 companies within 48 hours of the event. The presenting companies get tremendous value from the panel, the audience and the practice.  Some would say the experience has been “invaluable”. In fact, it sounds like Funding Universe, following the lead of Brad Feld and David Cohen, agree.

Along those lines, and in partnership with our friends at TechStars, the fee for the 5 companies selected to be at CrowdPitch will now be $0. That’s right, zero. Nothing. Nada.

Funding Universe wants to help lead the charge that Brad and David have started and really live up to our mission of helping entrepreneurs. I think this is clearly one way that they can!  Funding Universe will still charge a fair fee for other services that many find valuable (business plan writing, coaching, financing help, etc.), but they will not charge their entrepreneurs to present at CrowdPitch.  I am sure this will cause even more talented entrepreneurs to apply for CrowdPitch.

Spread the word, CrowdPitch is coming to a city near you!  Funding Universe can help you and your business get the funding you need – equity or debt. If you aren’t selected to pitch, come watch. It’s free as well! And did I mention free food and drinks too? It’s become a free-for-all it appears. I look forward to seeing all of you at the upcoming events.  I will be at many of them and often times hosting (no hecklers, please).

In the meantime, way to go Brad and Dave for leading the charge here and lets hope others will follow.

Tags: Entrepreneur, Favorite Links, startup