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    The web home of Scott Burkett: Serial-entrepreneur, tech-geek, dad.

    Blogging, opining, ruminating, and pontificating on entrepreneurship, venture capital, process improvement, technology, online communities, business networking, IT Management, online social networking, and other things that melt in the warm Atlanta sun.

    "Beneath the noble bird, between the proudest words, behind the beauty, cracks appear ..."


    The Answer is Blowin’ in the Wind

    9 February, 2010 (16:15) | Atlanta Business Scene, Venture Capital, angel-investing | By: Scott Burkett

    Every few months or so, various Atlanta startup thought leaders are corralled together on a panel or round-table to discuss what can be done to improve our startup ecosystem.  Invariably, the outcome is the same: a regurgitated list of things we already know all too well.

    Examples:

    • Lack of local funding sources for early-stage companies
    • Lack of management talent to take a company from startup to growth stage
    • Georgia’s legal inability to invest state pension funds into alternative class investments such as venture capital funds
    • Too many smart people are leaving the state
    • Lack of this
    • Lack of that
    • Blah.

    Undoubtedly, we all want the Atlanta startup ecosystem to improve (or continue to improve, as I believe is the case).   But for the past few years,  there have been two distinct threads running in parallel.

    Read more »

    The South Shall Raise Again: Raising Early Stage Capital in Georgia and the Southeast

    21 February, 2008 (10:07) | Atlanta Business Scene, Venture Capital | By: Scott Burkett

    My good friend and StartupLounge.com co-conspirator, Mike Blake, is going to be presenting a very “unique” presentation at the upcoming TAG/ATDC Entrepreneurs gathering on March 6th. Sadly, I will be out of town, and won’t be able to attend, but trust me, you will want to attend this one. Mike has put together perhaps one of the most compelling and thought-provoking presentations I’ve seen in a long time.

    Please join us for TAG/ATDC Entrepreneurs “The South Shall Raise Again: Raising Early Stage Capital in Georgia and the Southeast” with Michael Blake, CFA and managing director of Adams Capital, Inc. This session will focus on the challenges early stage companies in the SE are facing in respect to raising capital. Mr. Blake will also convey success stories and address his thoughts on best practices. Finally, he will forecast the fund availability outlook going forward, and discuss what GA needs to do to be competitive with the SE and the most successful parts of the USA.

    The event details are as follows:

    • Organization: Technology Association of Georgia
    • Event Name: TAG/ATDC Entrepreneurs “South Shall Raise Again: Raising Early Stage Capital in Georgia and the Southeast”
    • Date: March 6, 2008, 7:30am to 9:00am
    • Entrepreneurs Only Roundtable:* 9:15am to 10:00am
    • You MUST attend the presentation in order to attend the Roundtable*
    • Location: Centergy One Building
    • 75 5th Street NW Atlanta, GA 30308
    • http://www.tagonline.org

    Cheers.

    Nice uptick for GA Early-Stage Companies

    15 December, 2007 (16:46) | Atlanta Business Scene, Venture Capital | By: Scott Burkett

    ga_cash.jpgI’ve been so busy with PlayMotion over the past few months that I hadn’t realized that there was a bug in PWC/MoneyTree scripts that generate the cool dashboard on my home page showing Georgia venture capital activity.

    The bug is fixed, so the data is now accurate. The other good news, is that there was more of a focus in early-stage and expansion-stage deals over Q2/2007, and a decrease in later-stage activity. Now that we are approaching the end of Q4, I’ll be curious to see those #s when they get published in Jan or Feb.

    Cheers.

    Signup Now for CapConn/Q4

    19 October, 2007 (09:11) | Atlanta Business Scene, Venture Capital | By: Scott Burkett

    Q4 is upon us, and it is time for the next StartupLounge.com Capital Connections Event. There were over 200 entrepreneurs and investors at our last event, and the fun fest continues on Tuesday, November 27th!

    To our knowledge there have been at least 10 deals that have gotten investor traction from our first two events, including a possible $3M series-A and many, many angel deals. Of course, the relationships and connections that have been formed through the event are worth far more than the capital. However, nothing serves our cause better than to hear the successful networking stories from entrepreneurs and investors – so if you have feedback, or a story to tell, let us know!

    The quarterly StartupLounge.com Capital Connections event now routinely draws a solid base of investors. Past attendees have included UPS, Imlay Investments, Croft-Bender, Southern Capitol Ventures, Chrysalis Ventures, Noro-Moseley, Atlanta Technology Angels, Smith-Hoffman Capital, Kinetic Ventures, Grotech, Leader Ventures, EGL Ventures, Monolith Capital Partners, and many others.

    If you are a fast-growth entrepreneur in the Southeast U.S., or an investor who’d like to network among such innovators to scout for new deals, you won’t want to miss it.

    For this next event, there will be some changes to the format:

    1. Based upon feedback from both entrepreneurs and investors, we are introducing something new to the event. Investors will be let in an hour or so before entrepreneurs. This will afford investors with an opportunity to network among themselves prior to the event. Additionally, the StartupLounge.com team will hand-select a group of deals that will participate in a 2-minute “fast-pitch” on the microphone. No slides, no frills. Just two minutes presenting your deal to a room full of investors. After an hour of private networking and fast-pitching with the selected deals, we’ll open the venue to all attendees. Our goal here is threefold. First, we want to provide investors an opportunity to connect with each other, in a “less frenetic” environment. Second, we want to provide our investor attendees with a quick look at a handful of fresh (qualified) deals. Finally, the benefit to the entrepreneurial community is obvious.
    2. Due to the logistics involved in throwing a party for 200-300 people every quarter, we are now going to close off registrations for the event a week or two before the actual event date. This will give us ample time to get name badges ready, and will allow the venue staff to prepare accordingly.
    3. We are capping attendance from here on out. Fortunately (and I suppose unfortunately), the CapConn events have taken on a life of their own. And this means the venue is on the brink of getting filled to capacity. This has the side-effect of making it fairly difficult to navigate the room and find deals or investors. Therefore, we’ll be capping the attendance at around 225 people. What does this mean for everyone? It means you need to sign up sooner rather than later, in order to hold your spot!

    The cost is still free, of course, and the room will be free of job-seekers and service-providers. However, we are seeking a few more sponsors to augment the sponsors we currently have. If your firm (or someone you know) is interested in helping us sponsor this event each quarter, please have them get in contact with us. Service-providers are welcome sponsors – in fact, it is the only way they can get in the room.

    To apply to attend as an investor or entrepreneur/company, click here.

    Cheers.

    Capital Connections Post Mortem (Fall 2007)

    30 August, 2007 (00:58) | Atlanta Business Scene | By: Scott Burkett

    capital-connection-logo.gif

    Here it is, midnight, and I just got home from our quarterly Capital Connections event. Wow, what a night. I am completely spent, so I’ll make this post brief!
    We’ll have a full wrap-up posted in the next few days (along with tons of photos), but here are a few short observations:

    • Despite the really terrible weather and apparently horrible accidents that backed up traffic on most of the major highways, we still managed to get over 200 people in the door – not bad. We had over 300 on the RSVP list, but I got calls from several investors and entrepreneurs shortly before the event telling me that they had diverted planes from Hartsfield Airport, and that the roads were seriously backed up. Several out of state VCs had their flights to Atlanta sufficiently delayed or cancelled. Yay. :( Nevertheless, 200+ entrepreneurs and investors in a room filled with gourmet crab cakes is never a bad recipe. It is probably a good thing – had the weather and traffic permitted, we would have quite likely been elbow-to-elbow. I think we may need to cap attendance at 250 or so for future events. 300 would have been brutal.
    • It was good to see new deals and new investors in the room. Keeping the event “fresh” is something that is always at the top of our mind.
    • It was also very encouraging to see established Atlanta entrepreneurs such as Chris Klaus coming to participate. We need more of this. Guys with ideas rarely become emerging growth companies without the mentorship, guidance, and wisdom that can be provided by those that have tread before them. Those of you who have experienced a great deal of success, and who are not sufficiently engaged, know who you are.
    • The happy moment for me came when I looked across the demo area and saw literally dozens of entrepreneurs hunched over their laptops showing investors and other entrepreneurs what they were up to. This sort of transparency is very healthy.
    • I saw some folks who participated in our recent PitchCamp showing off their new pitches and one pagers. Very cool!
    • Despite repeated invitations, the Atlanta Journal Constitution still refuses to attend (or even write me back for that matter). Too bad. You would think that something as revolutionary, grassroots and impactful as these events would be newsworthy. Oh well. Thankfully, there is the Atlanta Business Chronicle, who realizes that this event represents a unique nexus between ideas and capital.

    Thanks to everyone who came out and participated! A thanks to our sponsors as well! Your collective support allows us to continue providing a remarkable quarterly opportunity to drive change. The event continues to evolve, and we are grateful for your patience!
    We’ll soon begin planning our Q4 event, which will be in early December. Should be a great time to gather around the holidays ….

    Cheers.

    Unethical Bootstrapping & Investor Liability – Pirated Software

    25 August, 2007 (10:36) | Entrepreneurship | By: Scott Burkett

    pirates.gif

    I have been contemplating writing this post for about 2 years, and have been jotting down various notes for it for at least a year.

    There are lots of ways to unethically nudge your fledgling company along. For example, you can artificially inflate your numbers. “You’ll love our site! Millions of other people are already using it!” Faux-Guerilla marketing, is another example (e.g. posting a message on a forum somewhere pretending to be a user in love with your product or service). “Procuring” copies of your competitor’s proposals by pretending to be a customer is also something I’ve seen before. The sky is truly the limit when you operate with little or no regard to ethics.

    However, the widespread use of pirated software among startups is probably the most prevalent problem that I’ve seen.

    Read more »

    A New Fund Cometh … Hopefully

    16 August, 2007 (09:08) | Atlanta Business Scene | By: Scott Burkett

    Stephen Fleming organized a roomful of 20 kindred spirits last night. The purpose? To discuss a new seed fund to be based here in Atlanta. We tossed around a lot of ideas on the structure of the fund, the investment model, the target markets, etc. The discussion was lively and I think we all walked away with a broader view of things.

    A great deal of discussion focused around Y-Combinator, Techstars and other similar models. While the group served up varied opinions on the details, we all agreed to the need, and our collective desire to make this a reality here in the Southeast.

    It will be interesting to see how this continues to evolve. Whatever form this thing takes, it will serve to fill a big gaping void in the regional venture market.

    Kudos to Stephen for taking the lead and organizing this thing … someone had to do it!

    More soon …

    Cheers.