Geek Night - October 27
Start Up Connection - November 4
ITEN 2nd Thursday - November 11(We are returning to Maggiano's in November)
The Killer Deal Boot Camp - November 17
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ITEN presents the "Killer Deal" Boot Camp
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Ted Feierstein, co-founder of PrimeMetrix, experienced VC, angel investor and investment banker has developed a comprehensive, exhaustively complete and interlocking series of financial modeling tools specifically targeted at the finance needs of early-stage IT, software, web 2.0 and Platform-as-a-Service ventures. On November 17, he will present a day-long "Boot Camp" that will show you how to replicate and use these financial modeling tools to maximize your control, view, and future projections of early stage tech ventures. You will leave with a working model of your forecast and structured financing, your valuation, terms, and structure. In short, your "Killer Deal." You'll also receive "The Killer Deck," a stunning, highly graphical, best-of-breed investor pitch deck covering all the basics investors want to see in an introductory deck presentation.
A traditional investment bank or financial advisory would charge a larger company $50,000 to $100,000 to do this work for their client. In the lean and efficient Web 2.0 world, PrimeMetrix will teach you to do this for yourselves using cool proprietary tools and know-how!
The Boot Camp is ideal for entrepreneurs, CFO's, seed and angel investors and anyone seeking to understand the financial side of early-stage technology ventures from the point of view of the sophisticated investor. The cost is only $99 and includes lunch. Registration and additional information can be found at www.itenstl.org/events. If you're a tech entrepreneur, finance professional, or investor in early deals, the Boot Camp is a not-to-be-missed opportunity.
Ted will be a guest panelist for the MVF's "Outlook on Capital for 2011" on November 18. ITEN is offering a special deal if you'd like to attend the Boot Camp and then go to the Outlook event the next day: $120 for both, a savings of up to $20.
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Start-Up Connection, November 4, 2010
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You are invited to Start-Up Connection - The St. Louis Event to Connect Entrepreneurs, Start-Up Companies, Talented Professionals and More!
THURSDAY NOVEMBER 4th, 2010 4:00PM - until 6:30PM ITenterprises, 4633 World Parkway Circle (off Natural Bridge just east of Lambert Airport)
Register for this free event to:
- Learn what's new in the St. Louis innovation community
- Engage with entrepreneurs about their start-up technology companies
- Network with entrepreneurs, scientists, CEO's, investors, tech professionals, students and talented people in transition
- Create awareness about your new company or idea
- Connect with experts/mentors/advisors/talent
- Explore resources in the community to help
- advance your company or idea
Sponsored by ITEN, Nidus, Innovate St. Louis, RCGA's Bounce Back St. Louis and the Biogenerator
Please visit the website at http://www.itenstl.org/events for a link to more information and the registration site.
Register as a COMPANY to reserve a table to showcase your company or as an INDIVIDUAL to attend the event and network with everyone!
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Deadline is Near for Washington U's Olin Cup Competition
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If you wish to enter your venture into this competition, the first deliverable is the executive summary, which is due by email to olincup@olin.wustl.edu by noon St Louis time on Monday, October 25. Please also complete the online entry form at http://www.surveymonkey.com/s/Olin_Cup_entry
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Apply Now to InvestMidwest Venture Capital Forum
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InvestMidwest will be in Kansas City in 2011, March 30-31. Over 270 attended the 2010 InvestMidwest in St. Louis including 63 venture capital professionals. The event showcased 44 companies representing 13 states from throughout the Midwest in the three industry tracks of life sciences, IT/general business and cleantech/alternative energy. The 2011 InvestMidwest will feature these same industry tracks.
InvestMidwest encourages high-growth companies (revenue projections of $20 million or higher within five years) from throughout the Midwest to apply. Information regarding the application process is on the InvestMidwest web site at www.investmidwestforum.com . Companies that apply by the early application deadline of November 12 will receive preferential consideration by the selection committees.
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SBIR/STTR Information October 28 at ITe
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Explore the status of the SBIR/STTR programs and how they can be utilized to fund your technology innovations.Francis Chmelir, State Director of External Operations for MoFAST, will present:· Overview of current program structure· Proposed changes in the program for 2011 and beyond· Status of SBIR/STTR congressional reauthorization· Successful strategies for leveraging SBIR/STTR awards· Current state efforts to support technology innovation· Register and info at
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Contact Info
Jing Wang
314-783-6395
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ITEN Teams with Missouri Venture Forum to Create Value for Entrepreneurs
ITEN has established a cooperative relationship with the Missouri Venture Forum that will bring immediate benefits to ITEN Companies, Investors and Mentors in a couple of important ways.
Firstly, ITEN is supporting the Missouri Venture Forum's Outlook for Capital 2011 event to be held on Thursday, November 18, 4:00-7:00 p.m at the Sheraton Clayton Plaza, 7730 Bonhomme, in Clayton.
Speakers will present their opinions about what we can expect in capital availability for the coming year. The panel of experts will discuss the outlook for angel capital, venture capital, bank and other sources of funding for next year.
ITEN has arranged for Ted Feierstein, VC, investment banker and angel investor from Chicago to be on the panel for this event. Ted will be in St. Louis presenting the "Killer Deal" Boot Camp described elsewhere in this newsletter. The other investors on the panel are Steve Callow, M&I Bank; Doug French, Sante Investments, and Jim von der Heydt, St. Louis Arch Angels. Nathan Pettyjohn, CEO of ITEN Mock Angel Graduate Aisle411, who has been actively fund raising for his venture will share his views as well.
The cost is $40 for non-members and $32 for MVF members. To register for "Outlook for Capital 2011," go to www.missouriventureforum.org.
Please Note: To register for the "Killer Deal" Boot Camp and "Outlook for Capital 2011" combined $120 for both, a savings of up to $20. See www.itenstl.org/events for additional information and the link to register.
Secondly, in order to give our emerging tech ventures the opportunity to create greater buzz in the community, ITEN Director Jim Brasunas has joined the MVF Two-Minute Forum screening committee. The Two-Minute forum gives new ventures an uninterrupted audience in front of 100-plus members and guests at the MVF monthly meeting held the first Friday of each month. Two-Minute presenters also get a display table during the networking time to showcase their new ventures and talk individually with interested members and guests. A summary of the company's information will appear in the Missouri Venture Forum newsletter, which is sent to MVF members and potential investors. The Two-Minute Forum is an important way a new venture can get their message out to a very influential regional community.
To qualify for an upcoming presentation, a company completes the application found on the MVF website and submits a $75 fee. This fee entitles one person to attend three consecutive MVF meetings. ITEN companies applying to present should also alert Jim Brasunas (jbrasunas@itenstl.org) that they have applied so he can assist in the committee evaluation and help prepare the company for their presentation.![]()
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Company Spotlight
Yurbuds is proud to announce the nationwide launch of the Yurbuds Ironman Series into 600 Best Buy locations in their new Health & Fitness department. This department will carry fitness equipment such as weights, workout videos, machines and electronic accessories and will expose a wide variety of amateur athletes to Yurbuds. Yurbuds are ergonomically fitted earphones that are guaranteed never to hurt or fall out that were developed by St. Louis endurance athletes, Seth Burgett and Richard Daniels.
The Yurbuds Ironman Series launched on September 6th and Yurbuds Sales Team members are visiting store locations to meet Best Buy staff and encouraging general managers to purchase additional product for stand-alone displays before the holiday shopping rush. In the St. Louis area alone, 3 stores have committed to bringing in stand-alone displays each containing 96 pieces of product.
The Ironman Series joins the Yurbuds product offering already available in 910 retail locations. To find Best Buy locations that carry Yurbuds Ironman Series visit the store locator at
www.yurbuds.com. The Company has raised $3.5M in private investment and has continued to create value for its shareholders by its accomplishments.
Some of the Company's milestones:
April 2008: Burgett resignation from Bausch and Lomb and launch full time with venture
June 2008: Best Buy business model developed as an MBA project at Washington University
October 2008: Company joins ITEN and enters Mock Angel Program
December 2008: Partner Richard Daniels joins the Company as Chief Operating Officer
December 2008: Graduates from ITEN's Mock Angel Program
February 2009: Announced as Olin Cup winners
April 2009: Raise first capital from EMBA classmates.
September 2009: Selected as Forbes 9th Most Promising Company in America after raising $1M in outside capital
November 2009: Launch Yurbuds in Best Buy Mobile stores - 65 locations. Team adds Peggy Stohr, former VP of Finance at Stereotaxis to company as Yurbuds CFO. (Seth and Peggy worked together at Stereotaxis from 2000-2005.)
February 2010: Close initial offering which was oversubscribed at $2.3M including multiple EMBA classmates and 2 Olin School professors. $950k from Olin relationships in total.
June 2010: Close agreement for Ironman license from World Triathlon Corporation
Summer 2010: Company adds former CFO of Stereotaxis Jim Stolze as the first outside member of Yurbuds' Board of Directors. Mr. Stolze has raised more than $700M in public offerings.
September 2010: Begin launch of Yurbuds Ironman Series in 600 Best Buy stores nationwide
October 2010: Raised $3.5M since April 2009
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Mentor Spotlight
Greg Christoffel
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Greg's startup mentoring experience began when he joined the board of directors at the time of formation of the Technology Entrepreneur Center. Since then he has mentored a wide variety of IT and other companies through ITEN, Venture Mentoring Service and direct relationships with entrepreneurs. His work with ITEN includes focus on the Mock Angel Training Program, in which he can use his expertise and years of experience as a co-founder of startups and as a venture capital fund manager.
Greg observes: "These days assisting startups in their search for capital is like coaching a long-distance runner for a race where the distance is unknown at the outset and the finish-line is constantly moved back. The best help is to remain encouraging and continually strive for solid, creative business plans."
From a variety of in-house general counsel, private law practice and business executive positions, Greg has served as legal counsel and business development advisor to a broad range of clients, from large publicly-traded firms to entrepreneurial startup companies.
Greg's last corporate counsel position was General Counsel of Diveo Broadband Networks, Inc., a startup telecommunications company developing wireless broadband telecom networks in Latin America. Previously, Greg was Senior Vice President and General Counsel of Brooks Fiber Properties, Inc., a publicly traded competitive local exchange carrier. His initial position with the Brooks telecommunications group was President and Chief Operating Officer of Brooks Telecommunications International, Inc., where he was responsible for development of business opportunities, negotiating agreements and implementing business plans involving advanced telecommunications projects in China and elsewhere in the Asia-Pacific region.
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Coworking Takes Off Downtown
St. Louis Coworking opened less than two months ago in downtown St. Louis and already entrepreneurs, start up businesses and those who work from home are flocking. The 11th floor of the Shell Building located at 1221 Locust Street is the first official downtown coworking space in St. Louis.
Coworking is the idea of shared workspace for people who are not necessarily in the same line of work but crave coworkers and someone to spend lunch hour with. It can be anything from banding together with a group of people by setting up a card table in someone's living room to sharing the overhead costs of high rise office with office amenities like a copy machine, fax machine and a printer. Coworking originated in San Francisco in 2005 and has now spread to a worldwide phenomenon with coworking spaces in locations including Brazil, Pakistan, Nebraska, and Mexico.
In St. Louis, the coworking concept hit downtown this summer. St. Louis Coworking offers a variety of packages anything from a daily $15 "drop-in" rate for unlimited coffee and wifi (or $100/month) to your own personal desk for $450 a month.
Tom Hart attended ITEN's Geek Night, which is hosted monthly in the coworking space, and decided to give St. Louis Coworking a try. "The morning of my 4th day I had an idea for a new website. I pitched it to a developer also working there, had mockups done by the end of day, and hope to launch in under 3 weeks from the day of the idea."
It is not all about networking. Abby Schwarz is the only employee of Yelp.com in the St. Louis region and she likes using the coworking space a few times a week to get out of her house, "Coworking gives me a reason to shower and wear real people clothes."
An entrepreneur and father of two Eric Castelli says, "I commute 25 miles to come down here every morning because it is great to be working downtown and in this environment."
St. Louis Coworking also focuses on building the downtown community. This includes walks around Lucas Park, happy hours on Washington Ave, Speed Networking in the Coworking space, and the weekly tradition of pancake breakfasts for all Shell Building tenants.
More information can be found at http://theshellbuilding.com/saint-louis-coworking/ or by calling 314-932-4511.
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