How to Finance Your Business Idea
The SACC New York Entrepreneurs Club met on May 12 for an informative session on what it takes to finance a business idea. Held at the offices of Nixon Peabody, the panel discussion featured Richard F. Langan, Jr., Partner, Nixon Peabody; Joshua Siegel, General Partner, Rubicon Venture Capital; and Viktor Karlsson, President and CEO, Premune. Moderator Tina Larsson, Chief Investment Officer, Pendo LLC, guided the conversation, which covered a broad range of topics— from registering a company and finding an angel investor to preparing for an IPO.
“The most difficult step when starting a business is daring to take the leap,” said Karlsson. He talked about the importance of crafting the story behind the idea. Siegel agreed, adding “flexibility is really key when you have an idea.” Siegel stressed the importance of putting together a team, “because no one wants to invest in one person. ” Langan reminded the audience that every start-up needs a good lawyer, and that first-round funding is always tough. “It’s hard to convince professional investors to invest in the earliest stages of a company.”