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On December 19th 2012 I responded to an invite to a YSV event with the following: I have a few questions: How many startups that have been funded as a direct
by dgmistry 13y ago
On December 19th 2012 I responded to an invite to a YSV event with the following:
I have a few questions:
How many startups that have been funded as a direct result of this and
prior events hosted by New England Venture Summit?
What is the ratio to startups presenting and startups getting funded?
Why do the investors not bear the cost of startup entry fees? Is there the
option to waive the fee?
What is your vetting process to ensure the quality of startups?
Here was the response I received from Kineret Weiss, note the sample of success cases and a reluctance to track the only metrics that matter for an organization like this - how effective are your conferences:
Hi Dinyar – Thanks for your interest. We evaluate each company based on the components of the summary outline (management team, business model, market potential, financials, etc.) which is needed to apply.
As far as stats, we don’t have the manpower or ability to track that information, but we do know of several companies (such as Mojiva, Peminic, UTest, etc) that have received funding as a direct result of our programs.
At the same time your question and outlook is flawed and I’ll tell you why.
Say I take your company today and sit you in front of the three most active VCs in your space. After the meetings they each get up telling you that they appreciate you coming by but that it’s not a fit for them at this time. According to your data request, we would be offering you no value but the fact is we placed you in front of the three most active VCs in your space.
Additionally, there is always a good mix of returning and new investors in attendance, pointing to the fact that investors see great value in the high level of startups that present at our conferences. You can view the video highlights at the end of this email to see several top VCs (who I’m sure you’ll recognize) who have found our summits to be of great value.
I have included further details below about the venture summit and the opportunity to be showcased including pricing, benefits, testimonials and a link to the conference website etc.