On 5/22 Thursday evening, OLC attended Meetup event “FundaVision: Smart Money Funding” organized by FundaVision andSan Francisco Entrepreneurs for Coworking at Sandbox Suites’ San Francisco office on Bryant Street.
Marshall Childs, Founder of FundaVision, kicked off the Meetup by raising audience’s attention that currently only 4% of all companies who are funded use Venture Capital or Angels, the rest of other 96% get their funds through different financial channels.
Childs pointed out that extremely few startups are funded by Venture Capital or Angels helping only 3-4% of all companies. The efficient ways to get funding that successful companies use repeatedly to start businesses and provide money in the growth stages when cash flow gets tight include overseas investors, loans, business plan contests, crowd funding, microfinancing etc.
Among the speakers also include Alex Kurosawa from Start-up101, Inc., Wendy Hanson from WendyHansonConnects, and Joe Larkins from Sereno Capital LLC. Larkins addressed an alternative financing channel “Factoring and Account Receivable Financing” to businesses. Larkins’ expertise is to advise businesses on how to get cash by transforming invoices into cash, as many people cannot qualify for traditional bank financing such as loans or lines of credit due to less than a year in business or size.
FundaVision empowers business entrepreneurs by matching the ideas, skills, and resources (supply) to what buyers want (demand). Their process is designed to educate financiers about you. Their learning resources that FundaVision calls a Competency Management System (CMS) uses a multidimensional and comprehensive approach that and includes, skills-gap analysis, succession planning, financing and profiling. FundaVision focuses on creating an environment of sustainability and tracking with learning resources. FundaVision provides business support. They look for people who want to create a product or service for profit. What makes them different is they match the idea to sources people otherwise would not have access.