Business owners, who need capital to grow their company, gained insight in September during a new workshop presented by Maui Economic Development Board’s (MEDB’s) Technical Assistance Series. “Venturing Out: Exploring the World of Venture Capital” provided a panel of experts from the venture capital industry to discuss how to attract needed capital to expand and grow companies. The workshop series, part of MEDB’s grassroots effort to help small businesses in the community, offers tools and programs to help build a solid foundation for success.
“Often the steps involved in securing capital to grow one’s company may seem overwhelming, especially for startups trying to raise money for the first time. That’s why MEDB was excited to offer this informational workshop to help business owners and entrepreneurs take the guesswork out of successfully attracting and securing venture capital,” said Frank De Rego, Jr., Director of Business Development Projects at MEDB.
The focus of discussion was on Silicon Valley-style venture funds. Participants gained insights into what venture funds expect in an investment, what motivates them internally and externally, how to secure a meeting with a venture fund, how to prepare for a meeting and how to structure their company to attract venture capital. The team of experts enlightened the participants in all aspects of potential and active investments including areas of corporate and securities law, mergers and acquisitions, startups and licensing agreements. In addition, advice was offered about driving growth for top consumer brands which culminated in a survey session entitled “Why should I seek Venture Capital?”
“This workshop provided valuable advice on how the pitch process works,” said Marjorie Mroz, an owner of The Maui Adventure Rent-A-Local. “We discussed insights into how to prepare for a meeting with a venture fund and how to continue to structure our company to attract venture capital. In fact, with information we received at the MEDB workshop we applied for and recently obtained finances to expand our business with hopes of being the largest web-based tour guide agency in the world.”