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    2 Replies Latest reply on Apr 10, 2009 12:45 AM by phanio

    Seeking Funding: Energy Consulting Software

    kwhours Newbie
      I am looking for information on available sources of financing for $400k in seed funding. The focus of the startup is developing a business optimization tool for professional energy service companies. I am an energy efficiency consultant, and having negotiated access to 25 years of IP from my previous employer for the purpose of developing the product am ready to get off the ground. My team and I have developed a business plan, pitch deck, executive summary and after participating in several business plan competitions to hone our message we are ready to raise funds and build out our product.

      This seed funding will be directed primarily to hiring software engineers and graphic designers. We are uniquely positioned with a respected energy service company with over 25 years of industry contacts as a stakeholder, prepared to market the service to other professional service firms. My team and I are bright (including 2 top-tier MBAs), committed, and will not take salary until we are generating significant revenues.

      Thank you for your thoughts and suggestions,

        • Re: Seeking Funding: Energy Consulting Software
          kwhours Newbie
          Sorry, didn't mean to post this twice. There was a delay, and I figured it hadn't been submitted.
          • Re: Seeking Funding: Energy Consulting Software
            phanio Pioneer
            Couple of suggestions - try to find investors locally. Get out in your community and network - go to your chamber of commerce and ask them for a list of networking events and groups. Attend them and talk to everyone. Try to seek out CPAs, lawyers, other business owners - if they don't invest - they may of some will. Even your previous employer may know of some investors in the industry. This does work - helped a local company raise $1.4 million from 15 local investors - it does work.

            You can also try searching for angel investor or angel groups that portfolio energy companies - try to approach them or better yet find someone that knows them and try to get them to introduce you to the investors.

            Might also look into SBICs - go to the SBA website - and search their site for SBICs in your area.

            In any case - make sure you have a solid PPM in place - it would behoove you to hire a CPA and attorney to look over your documents.

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