Programs

Venture Coaching Program

With sponsorship from:

and their Strategic Planning Program

A Boot Camp for Technology Entrepreneurs and Early Stage Companies

 

And in partnership with:

______________________________

 

presents the TCN Venture Coaching Program (VCP)

 

The Venture Coaching Program is a new program that TCN is introducing to the Boston entrepreneurial community in Fall 2009, to coincide with the start of TCN's 2009-2010 programming season. The Venture Coaching Program replaces the Funding Expedition as TCN's intensive program for coaching entrepreneurs starting new ventures for the first time.

 

The TCN Venture Coaching Program is a series of tailored coaching and mentoring sessions with entrepreneurs designed to accelerate a Venture's ability to successfully raise early stage capital.  The program includes the assignment of a group of entrepreneurial/industry veterans as “Mentors” and the opportunity to meet with various industry related advisors to provide specific expertise and feedback on various topics such as the business model, the value proposition, the team, the pitch and presentation materials, and the fundraising strategy.  In addition, participants have access to top educational programs taught by key industry experts on tax, accounting, legal, marketing, and other relevant emerging business topics on issues surrounding early stage finance. The TCN Venture Coaching Program is only available to entrepreneurs actively seeking early stage funding.

TCN’s tailored Venture Coaching Program helps entrepreneurs:

  • understand how to employ their business and personal networks to find sources of capital
  • build a clear and strong strategic business message and materials targeted to potential customers/investors
  • prepare to successfully meet their goals and grow their business

TCN Coaches are experienced professionals in the funding of seed and early stage companies and include entrepreneurs, senior leaders at larger strategic partners, lawyers, bankers and auditors.

 

The Introduction

Prior to entering into the Venture Coaching Program, the Venture meets with TCN and the VCP Head to discuss the Venture participant’s goals. TCN then determines whether the Venture fits within the Coaching Program and potential mentors.  Once the Venture has been approved for the Coaching Program, the Venture will sign an Agreement of Understanding with TCN in order to set expectations from both parties. A Venture not accepted into the Coaching Program will received oral feedback as to the status of their application and be eligible to reapply after [90] days. 

 

Phase 1 – Mentor Meetings

The Venture will meet with an assigned Mentor where the Venture will provide the following, in whatever current form they exist: the Business Plan, the Executive Summary, a 1 page company description, any investor oriented PowerPoint Presentation and the written form of the Venture’s elevator pitch. The Mentor reviews the following areas to determine the company’s suitability for funding:

  • Problem Solved
  • Markets Served
  • Product/Service Offered
  • Development/Manufacturing Plan
  • Marketing and Sales Plans
  • Current Customers and Revenues
  • Financials, Cash Position and Financial Management
  • Corporate Structure
  • Critical Service Providers
  • Intellectual Property
  • Funding Requirements and Sources
  • Liquidity Plans and
  • The Team

Mentors then provide positive/negative constructive feedback about the Company, strategy, structure, marketing, team, and market readiness.

 

Phase 2 – Outside Advisors

Once the Mentors have deemed the Venture has progressed and successfully executed the agreed upon recommendations, the Venture will be moved to Phase 2. During Phase 2, TCN will assist the Mentor in identifying additional complementary advisors for supplementary meetings on an as needed basis. In addition, should it be deemed beneficial TCN and the Mentor will assemble a team of panelists for the Venture to practice their pitch; the Panelists then provide positive/negative constructive feedback about the Venture, its team and its presentation, including issues relating to business strategy and market readiness.

 

Phase 3 – Best Practices Reviewed

Once the Venture hits the 6 month mark, the Venture and Mentors will meet to discuss any other feedback and takeaways from the program.  At this point the Mentors and Venture together may determine if an extension of the program would be beneficial or if the Venture has successfully completed all steps and is ready to close out the session. A Venture’s program may be extended up to an additional 6 months at no additional charge; any extension beyond a year will require a nominal renewal fee to the program. In a small number of cases, the TCN Venture Coaching Program may be terminated early as a result of the Venture’s business stagnation or lack of market viability as determined by the TCN VCP Committee.

 

Legal Day

In additional to the Mentoring sessions, the Venture, subject to certain restrictions, will have an opportunity to meet 1-2 times for a 1-2 hour meeting with sponsoring TCN lawyers. The sessions will be informal meetings where the Venture will be able to seek counsel for their legal issues.  To be eligible, Ventures must satisfy certain conflict check processes and intake procedures.  Appointments will be scheduled through the VCP coordinator.

 

Accounting Day

In additional to the Mentoring sessions, the Venture, subject to certain restrictions, will have an opportunity to meet 1-2 times for a 1-2 hour meeting with sponsoring TCN Accountants. The sessions will be informal meetings where the Venture will be able to seek counsel for their accounting issues.  To be eligible, Ventures must satisfy certain conflict check processes and intake procedures.  Appointments will be scheduled through the VCP coordinator.

 

Pitch Day

In addition to Mentoring sessions, the Venture, subject to approval from the assigned Mentor, will have an opportunity to present a practice pitch in front of a panel of experts and receive valuable constructive positive/negative feedback on their presentation, business strategy, and market readiness.  The purpose of the practice pitch is to get the entrepreneur's investor pitch in the best shape possible for when the entrepreneur finally meets with prospective investors. The practice pitch panel will consist of a combination of successful entrepreneurs, angel investors, industry experts, and venture capitalists, who have volunteered their time to help entrepreneurs hone their investor presentation.  Note that while the panelists may have interest or expertise in the markets served by the ventures whose investor pitches they critique, they do not necessarily have an interest investing in the companies nor have an obligation to champion them.   The panel's primary role is simply to help entrepreneurs get their pitches ready for future presentation to prospective investors.

 

Program Fees

Mentor-Mentees expect to commit between 20-40 hours of development meetings over the course of the 6 month Venture Coaching Program.  The exact amount of time is dependent on the stage and level of commitment by the Venture.  The fee for the Venture Coaching Program is regularly $250 per venture, $200 per venture for members of organizations affiliated with TCN, and $100 per venture for those who are already TCN Season Pass holders. VCP membership renewals are $100 per year after year 1. 

 

For More Information

Interested entrepreneurs should contact TCN by email.

 

 

______________________________

 

 

A confidential environment is guaranteed as part of our commitment to helping entrepreneurs succeed.

 

 
TCN

Join our Email List!