http://startrocket.com/Exploring high-tech entrepreneurship from an "outside of Silicon Valley" perspectiveenFri, 29 Feb 2008 12:19:49 -0600Movable Type 4.1 http://www.sixapart.com/movabletype/high,tech,entrepreneur,angel,investing,venture,capital,startupBusinessTechnology/Tech Newschipgriffin@gmail.comStart RocketStart Rocketnohigh,tech,entrepreneur,angel,investing,venture,capital,startupHigh-tech and web entrepreneurship from an "outside Silicon Valley" perspectiveHigh-tech and web entrepreneurship from an "outside Silicon Valley" perspectivehttp://feeds.feedburner.com/~r/startrocketradio/~3/235094965/charles-best-explains-donorsch.htmlProfilesStart Rocket Radiocharlesbestdonorschoosenonprofitchipgriffin@gmail.com (Start Rocket)Thu, 14 Feb 2008 11:56:31 -0600tag:startrocket.com,2008://5.1054

DonorsChoose.org is a non-profit organization that lets public school teachers post requests for contributions for specific projects. People who are interested can find projects that "really speak to them," as founder Charles Best told Start Rocket Radio. He proves that high-tech entrepreneurship takes place not just in companies looking to turn a profit, but in charities looking to do good.

(Click here to listen to the 11 minute interview.)

Each teacher receives a disposable camera to photograph thank you notes from students that will then be sent as a laminated packet to contributors. Every donor can choose how to contribute to projects. They can fund all or part of a request. They can also decide whether to have 100 percent of their contribution dedicated directly to the project, or they can elect to add on a 15 percent fulfillment fee to offset the costs of DonorsChoose.

Best was a social studies for 5 years in the Bronx, and DonorsChoose grew out of conversations he had with other teachers. He saw "students going without" the resources needed for a great education, and suspected that "a lot of people out there who wanted to help improve our public schools, but they needed a way to choose where their money was going to go."

Best notes that others have taken to the idea of creating an "eBay for philanthropy." Ultimately he sees it giving the same level of choice and accountability for small dollar donors that has been typically reserved for the Bill Gates of the world.

The initial web site cost only $2,000 for a programmer. Best's students helped write letters enticing visitors and donors, while his teaching colleagues were "bribed" by his mom's desserts into submitting the first proposals.

For nearly five years, Best taught during the day and ran DonorsChoose at night, but for the past two years he has been full-time at the helm of the non-profit. He has been gratified by the response, and says that a number of projects stand out to him. In particular, one that stood out was a teacher who organized a campaign for smoke detectors for her students' homes after one of her pupils tragically died in a fire.

Best notes that there are projects for virtually any interest. He mentions someone who was interested in protecting salmon and thought there would be no way to use DonorsChoose to further that personal interest. In fact, it turned out that there were several schools creating projects centered on salmon that would fit this donor's interest.

(Click here to listen to the 11 minute interview.)

]]>DonorsChoose.org is a non-profit organization that lets public school teachers post requests for contributions for specific projects. People who are interested can find projects that "really speak to them," as founder Charles Best told Start Rocket Radio. He proves that high-tech entrepreneurship takes place not just in companies looking to turn a profit, but in charities looking to do good.noDonorsChoose.org is a non-profit organization that lets public school teachers post requests for contributions for specific projects. People who are interested can find projects that "really speak to them," as founder Charles Best told Start Rocket Radio.Start RocketDonorsChoose.org is a non-profit organization that lets public school teachers post requests for contributions for specific projects. People who are interested can find projects that "really speak to them," as founder Charles Best told Start Rocket Radio. He proves that high-tech entrepreneurship takes place not just in companies looking to turn a profit, but in charities looking to do good.high,tech,entrepreneur,angel,investing,venture,capital,startuphttp://startrocket.com/2008/02/charles-best-explains-donorsch.htmlhttp://feeds.feedburner.com/~r/startrocketradio/~3/224830951/reaching-for-the-techstars.htmlAngel InvestingStart Rocket RadioVenture Capitaldavidcohentechstarschipgriffin@gmail.com (Start Rocket)Mon, 28 Jan 2008 16:10:29 -0600tag:startrocket.com,2008://5.1011David Cohen of TechStars recently took some time out to talk with Start Rocket Radio about the success of his group's initial class of startups, as well as the application process currently underway for the summer of 2008. Based in Boulder, Colorado, the group hosts startup teams for a summer of learning and growing their companies.

(Click here to listen to the 10 minute interview.)

Cohen launched Techstars because he was "frustrated with the traditional model" of angel investing. After a couple of successful startups (and one failed one that he says he "learned a lot" from), he "wanted to use my expertise and the expertise of my network and get involved." He decided to create something with less cash up front and more hands-on help.

Describing the effort as a "mentorship-driven investment model," Cohen explained that the 10 companies selected last year heard from more than 55 mentors over the course of the summer. In return for office space, mentorship, and a "small amount of seed capital," Techstars takes an equity stake equal to 5% of founders stock in each company. Cohen stressed that the investment carries "no special rights."

Techstars seeks early stage companies with "no limit to that as long as the value proposition we're putting out there appeals," according to Cohen. Founders must be willing to spend the summer in Boulder, though they are not required to work out of the office space provided. Mentors will come and make group presentations and offer individual advice over the course of the program.

Cohen says some have called Techstars a "hatchery" rather than an "incubator" because "we don't incubate over a long period of time ... we focus tons of resources on these companies for the 3 month summer period and after that they go off and run the company."

The goal is to find startup teams from all over the country (only 2 of 10 last year were from Colorado originally) and the emphasis is really on "team." All of the groups admitted last year had at least two founders, with the program including a total of 26 founders for the 10 companies. The individuals ranged in age from 19 to 40 and were heavily focused on consumer Internet applications.

The first class has experienced solid success already.  Of the 10 companies, 7 have already received additional funding (largely angel) and an 8th is already profitable and turning away potential investors.

Techstars seems similar to Y Combinator, another "hatchery" style program, and Cohen said that while "on the surface [it is] a similar program," Techstars focuses more on the broad-based mentorship approach.

When the program is done, Techstars still keeps up with alumni, especially since it maintains that small equity stake. In addition, some mentors may invest in the companies individually, though Cohen emphasized that is a case-by-case situation.

Cohen said if you're interested in Techstars don't wait to see if you get in before you move ahead with your idea. "We love entrepreneurs who don't wait for people to give them to permission to work on their ideas." He stressed that "the majority of the teams morphed during the summer" and are "doing pretty different things" than what was on their application.

The deadline for 2008 applications is the end of March. The focus will be on the "group of people that you've put together ... the team that's going to found the company," says Cohen and they will ask the question, "do they have the skills to pull off what they're proposing in their application?"

For more information or to apply visit http://techstars.org.

(Click here to listen to the 10 minute interview.)

]]>David Cohen of TechStars recently took some time out to talk with Start Rocket Radio about the success of his group's initial class of startups, as well as the application process currently underway for the summer of 2008. Based in Boulder, Colorado, the group hosts startup teams for a summer of learning and growing their companies.noDavid Cohen of TechStars recently took some time out to talk with Start Rocket Radio about the success of his group's initial class of startups, as well as the application process currently underway for the summer of 2008. Based in Boulder, Colorado, the Start RocketDavid Cohen of TechStars recently took some time out to talk with Start Rocket Radio about the success of his group's initial class of startups, as well as the application process currently underway for the summer of 2008. Based in Boulder, Colorado, the group hosts startup teams for a summer of learning and growing their companies.high,tech,entrepreneur,angel,investing,venture,capital,startuphttp://startrocket.com/2008/01/reaching-for-the-techstars.htmlStart Rocketnonadult