Month: September 2020

Anti-Dilution Provisions: Which One is Best for Founders?
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Anti-Dilution Provisions: Which One is Best for Founders?

Venture capital investors invest in startups in the hopes that later rounds of investment will increase the company’ valuation. As more investors invest, the percentage of the company that each investor owns decreases, an effect called dilution. As important as avoiding dilution is for an investor, specific provisions can impact on founder and employee ownership unfavorably. Why do investors ask for anti-dilution provisions? As long as subsequent investors invest at a higher price per share, the overall dollar value of the previous investments increases, even if their percent ownership decreases. But what if shares sold in later rounds of investment are sold at a lower price per share? In such a down round scenario, the earlier investors have a decrease in ownership and a reduc...
Applications Open for SAMMI, a San Antonio Biomedical Seed Fund for Military Medical Collaboration
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Applications Open for SAMMI, a San Antonio Biomedical Seed Fund for Military Medical Collaboration

San Antonio is investing in innovators who are commercializing discoveries in medical devices, new drugs, and biotechnology and biomedical software that can meet military medical mission needs. The San Antonio Military Medical Innovation (SAMMI) Fund has opened applications for its bioscience startup seed fund. If chosen, each company will receive up to a $50,000 award in the form of a convertible promissory note with a three-to-five-year term, depending on the loan amount and current stage of the company, said Corey Levenson, the city's military medical innovation director. Levenson helps coordinate and align economic development strategies with San Antonio's unique military medical assets. The financial terms will be determined on a case-by-case basis, depending on the maturity of ...
Spend Time on Doing the Right Things for Entrepreneurial Success
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Spend Time on Doing the Right Things for Entrepreneurial Success

Are you spending your valuable time doing the right things for entrepreneurial success? "Due to lack of internal controls, documented processes, and no reconciliation function between two disparate systems, we inadvertently spent almost $1 million of our members' fees for no reason," said Rob Roberts of San Antonio Board of Realtors.   "It took us hours to collect time and process our payroll every two weeks, and then another several hours to upload the Excel spreadsheet into QuickBooks and create all the appropriate journal entries," said Cindy Hawkins of Little Engine Homecare.   These are the stories we hear every day from local businesses that are struggling to manage operations while growing.   When I built my company in Mexico, I was hyper-focused on client acquisition an...
Geekdom 2020 Pre-Accelerator Startups To Pitch at Virtual Demo Day
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Geekdom 2020 Pre-Accelerator Startups To Pitch at Virtual Demo Day

For the startups participating in this year's pre-accelerator program, Geekdom did what practically everyone has done since the COVID-19 pandemic closed down public gatherings starting in March. The downtown San Antonio co-working community improvised.  That means that the 2020 Geekdom Pre-Accelerator Demo Day will be viewed online Sept. 18 from 6 to 8 p.m. Register to view the pitches from the seven startups here. For the third year of the startup program, Geekdom delayed its typical spring start until July 23 and ran the program until Aug. 27. Adapting the pre-accelerator program into a virtual mentoring curriculum helped broaden Geekdom's local mentoring network, said program manager Joyce Deuley. Investors from Active Capital, RealCo Longterm Accelerator, Dura Software, and Li...
Watershed Idea Foundry ‘One-Stop-Shop’ Helps Biotech Startups Get Ideas to Market
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Watershed Idea Foundry ‘One-Stop-Shop’ Helps Biotech Startups Get Ideas to Market

An enterprising healthcare professional can now get a biomedical device idea developed, prototyped, tested, and manufactured all in one place at the Watershed Idea Foundry in northwest San Antonio. Watershed helps aspiring entrepreneurs incubate and accelerate the development of innovative technologies from all industries that can advance patient care. The idea started after San Antonio-based venture capital firm Fountainhead Investment Partners transitioned from an angel fund into a venture capital firm focused on early-stage companies in 2015. By 2017, Fountainhead had invested in Nvision Biomedical Technologies, a medical device and biologics company that works with surgeons on medical implants.  Fountainhead has since been expanding its portfolio investments (ranging from $2...
VelocityTX Launches Bioscience Accelerator Program, Co-Working Space
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VelocityTX Launches Bioscience Accelerator Program, Co-Working Space

The innovation hub taking root on San Antonio's Eastside has launched an accelerator program for bioscience startups. VelocityTX is accepting applications for its new BioGlobal Accelerator, a 16-week accelerator program for early-stage bioscience companies. VelocityTX's mission is to support the development of more early-stage life science and technology companies in San Antonio. Its BioGlobal Accelerator is designed to help local, national, and international companies with innovative, scalable business ideas accelerate the launch of their business. The program will run from February to June 2021. A panel of 42 local industry experts from bioscience and healthcare sectors will facilitate the 21 planned modules over four months. The curriculum plan includes modules spanning concept an...