The Nexus of 2024

The NWEN First Look Forum: early-bird advice

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by

jon
in

Update: the final deadline is August 23.
Rebecca Lovell’s The Art of the One-Page App has some very helpful advice
Don’t delay! Apply today!

  • If you’ve launched an innovative business with growth potential….
  • And you’re looking for expert coaching and some exposure to the investment community….
  • And you have not yet presented your plan to an angel group membership or VC partnership…

…then NWEN’s First Look Forum could be the perfect opportunity for you!

Indeed!  Dog food, e-forks and other ideas in TechFlash, Software Vs. Medical Startups: Online Travel Is the Winner in XConomy , Why We’re Shouting “Thank You” from the Rooftops, and For the Love of the Craft on Qworky’s blog tell the story of April’s finals, where Mikal’s awesome 5-minute presentation got Qworky to the top five.  We also participated last fall, when we made it to the round of 20 and got some great feedback, calibration, and connections.  It’s a great event, and was really worth the time and energy we invested.

The next FLF is fast approaching, and the application deadline is August 18 has been extended to August 23.  Submitting by the early-bird deadline of August 2 gives an extra round of feedback and a bonus shmoozing opportunity at the “Early-bird reception”. If you’re potentially seeking for angel funding in the next six months or so,  it’s worth investing the time to put together a one-page executive summary.  The application form and the full schedule are on NWEN’s site.

Event chair Rochelle Whelan and NWEN executive director Rebecca Lovell asked me to be part of the volunteer organizing committee to represent the entrepeneurs’ perspective.  My pleasure!  And when I think back on my perspective back when Sally, Mikal, and I were first thinking about applying application, the word that springs to mind is “uncertain”: did it make sense for us to participate?   If we went for it, how to maximize the value we get from participating and our chances of doing well?  Presumably others are in the same boat.

So I’d like to pass on some excellent advice we got from our advisors and a learning from our own experience.  And if other past participants have suggestions, please drop them in the comments.

But first, a public service announcement.

Guys talking to guys about guys surveys some excellent recent discussions in the business press about the challenges women entrepeneurs face getting access to funding even though women-run businesses are more likely to be successful.and one consistent theme that emerges is that women often aren’t in the loop to find out about opportunities.*

So please, if you know women who have launched innovative businesses with growth potential, and could benefit from expert coaching or exposure to the venture community, let them know about the First Look Forum.

Thank you kindly.

And now, onto the tips in the comments.

jon

* To verify this myself, I dropped by the CRAVE Seattle buzz party last night at Wallingford Center, with sponsors including Trophy Cupcakes and Girly Girl Wines.  Quite a few of the women there are involved with companies where participating in FLF could be really valuable.  Sure enough, a lot of them had heard of the event.   Ah, if only all diversity research involved wine, shopping, and cupcakes!

Comments

6 responses to “The NWEN First Look Forum: early-bird advice”

  1. jon Avatar
    jon

    The first tip is from Vin Ricci of Foster Pepper, who gave us some great advice last summer when we weren’t sure whether or not we are ready. He explained to us that entire point of the forum is to provide coaching and mentoring to extremely early stage companies, and the goal is to get assistance to companies/entrepreneurs who can most benefit from it — not necessarily the ones that are farthest along. His suggestion?

    Go for it, and do your best.

    It was the right thing for us. Doing the first revision of our business plan highlighted a couple of areas where we didn’t understand things as well as we though, and as we revised it our understanding of our business improved significantly. It was also a great chance to engage with our advisors; Doreen of Kamikaze Creative, who had just started working with us, stepped forward in a huge way, and Kelly had some valuable insights from her funding experiences. And we came out of it with a great connection: our first-round meeting was with Geoff Entress, who we had heard repeatedly was #1 with a bullet on our list of investors we should meet.

    Your mileage may vary, of course, but Vin’s advice was 100% on target for us.

    Reply
  2. jon Avatar
    jon

    A suggestion I’d make to any company thinking about FLF is to approach FLF as a team effort. Involving your advisors and community as well as founders, friends, and family. Get feedback on the most important sections of the summary; schedule a review meeting; reach out to community members for quotes to highlight.

    Because it’s a competition, people are more likely to rally around for FLF — and share in your successes.

    Reply
  3. Mary Alice Avatar
    Mary Alice

    Jon – I’d be glad to forward this link to my women’s networks.

    Reply
  4. Rebecca Lovell Avatar
    Rebecca Lovell

    Thanks so much for the insight and all of your energy, Jon! Couldn’t agree more. And yep, I’ve got a bias, but can say that First Look Forum has been a great entre into NWEN for so many participants, regardless of the outcome. If you apply, you *will* get feedback on your summary. You *will* get a 2-hour workshop on how and what to pitch to investors. You *will* get plugged into this entrepreneurial ecosystem. We’ve stayed in touch with past “non-selected” applicants, who have gone on to pitch at our Pub Nights or Breakfasts, have made connections with advisors, have used the feedback to refine their value proposition…or all of the above! All disclaimers aside, I’d like to think everybody wins. We know it’s scary to push your idea out of the nest and into the fray. And it can be really really hard to distill all those great ideas into an executive summary. But we are here to help and even have some fun along the way! Hope to get the chance to work with the readers of this blog, your constituents (Mary Alice), and the most diverse and innovative companies in our region!

    Best,

    Rebecca Lovell
    Executive Director, NWEN
    206-902-4079

    Reply
  5. jon Avatar
    jon

    Thanks, Mary Alice — and my pleasure, Rebecca!

    jon

    Reply
  6. Liminal states :: Go Seattle! The Innovate 100 Pitch Slam at pii2010

    […] And props to the Innovate 100 team and pii2010 for getting a more diverse group of participants than we often see in events like this.  As well as good racial diversity, two of the speakers were women — quite a contrast to the all-male feel of TechStars, Y Combinator, or last spring’s NWEN First Look Forum. Shameless plug: speaking of the First Look Forum, we’ve extended the application deadline for the fall event to August 23.  If you’re an early-stage startup, please check it out!  If you’re thinking of applying, there’s some tips here and here. […]

    Reply

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