About Jim D. Ray Expertise Jim Ray is coordinator of a regional venture capital network, serving entrepreneurs and investors seeking funding relationships. Ray is an experienced entrepreneur and is presently involved in the operations of several business concepts, including a national commercial real estate company and a web design firm. Areas of expertise include the overall startup funding process; writing venture capital proposals; and win-win exit strategies for existing private funding relationships.
Expert: Jim D. Ray Date: 4/2/2004 Subject: start up business
Question Dear Mr. Ray,
In some of your writing you said that finding a venture capital relationship takes time. What would you say the average might be? I have an original idea about a product which I would like to launch at Special Olympics and Senior athletic events. I have never seen any product like it and don't see why it wouldn't be successful with the right expertice behind it. I am not a business person, however, but have expertice in other areas. I would give more details about the product but I would like a non-compete statement. Where should I begin to find a venture capital relationship? May God bless you.
Sincerely, Kenneth Hightower
Answer Saturday, April 03, 2004
2:04 AM DST
Hello, Kenneth:
Excellent questions! Let's get right to them --
Ultimately, the time required to secure a venture capital partnership depends on how aggressively you market the concept to potential investors. I recommend approaching as many investors as possible when seeking first-round funding, to maximize your potential for success.
Locating investors can be a difficult task. To begin, I suggest searching Google (http://www.google.com) for "venture capital organizations" and similar key terms, to locate VC websites. Each site will provide instructions for submitting a proposal to the organization's membership, for initial review.
Kenneth, I hope this information helps point you in the right direction. Should you think of other questions or need further guidance, please feel welcome to write me again anytime.
