The NVA Blog

Techstars, the Boulder based startup mentorship program, is now accepting applications for the 2008 session. Check it out here. Filtrbox (a content monitoring company I started last year) was one of the 2007 Techstars companies and we had a great experience.

Techstars is an impressive program, and the 2007 inaugural edition was well run, and surprisingly smooth for its freshman effort. If you’ve got a great idea, a team, and a prototype (or you could in a few months) it’s worth your consideration. Yes, Techstars takes an equity stake (5%) and gives you some early seed capital ($5k per founder). You might be wondering…Why give up a chunk of your company? Why move to Boulder for the summer? Does the 5k get you anywhere?

• Techstars is like a linear accelerator for your idea; you are given the resources, advice, and help you need to get from “coming along” to “going mach 10″. You either get it together and come out the other end far ahead of where you’d be w/o the program or you get to failure faster. Either way there’s a big benefit.
• If you don’t already have a strong network (or a firm like NVA helping you), Techstars creates opportunities to meet advisors, investors, and service providers you
  probably could never get in front of, or know how to find.

• The summer program happens in Boulder, and it’s a full-time gig. We thrived in the work-hard/play-hard environment. Starting a company is exciting, nerve-racking, and quite a ride…sharing that experience with 9 other companies and 30 other people is amazing. Boulder is an awesome spot and the intellectual capital here and “buzz” that happens throughout the summer is refreshing and motivating. Not to mention the weather is great and there is tons to do when you aren’t heads-down working.
• Validation: there is something to be said for the validation you get when being selected to participate in the program. The selection process is carefully managed, and in the first year there were over 300 applicants. By no means does being selected mean your company is pre-ordained to be successful, but it does mean you’ll have many advantages and resources at your disposal if you are smart and capitalize on them.
• If you are wondering about the equity and cash element, I suggest looking at the big picture. Sure, 10 or 15k isn’t much but it might be just enough to cover your moving costs to Boulder or to get your prototype built. Giving up 5% of the company may seem like a lot up front but realize that if you become a real business, raise more capital, or even carve out an option pool this means you are creating far more value in the business (and of course suffering much more dilution). Down the road if you are lucky enough to be running a start up with customers, revenues, and investors the 5% you gave up to help get you off the ground and get you funded will seem well worth it. Just ask any of the other Techstars companies.

My co-founder at Filtrbox, Tom Chikoore, has some awesome advice for the 2008 class here. Don’t miss it.

Also, if you are in the bay area and want to learn more, the David and Brad and bunch of the Techstars mentors are hosting a party in the valley on Thursday.

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techstars, startup, venture capital

Now that Dan Primack at PEhub has covered the story, we’d better make it official. We are thrilled to announce that Jerry has joined NVA as Senior Parnter. Jerry brings over 39 years of experience in investment banking, venture capital coverage, as well as institutional, principal and sales trading to NVA.

Jerry began his career at Merill Lynch and has also held managing director and executive positions at Hambrecht and Quist, Cowen & Co., JP Morgan and most recently Bear Stearns. Jerry is based in the bay area, so we are also announcing the opening of our “Silicon Valley” office. NVA services clients nationwide, and we now have two primary bases of operation, SF and Boulder, CO. Contact information for the two of us can be found here.