Friday, January 30, 2009
Senior Analyst/Associate*, PureTech Ventures
PureTech Ventures creates and funds ground-breaking life science companies with a focus on pre-clinical and early clinical stage therapeutics, medical devices and research tools. PureTech’s team collectively has hundreds of years of experience, has created billions of dollars in value and has developed some of the most important drugs of the last twenty years. After sourcing best-in-class technology for a company, PureTech runs the company while assembling permanent management, establishing the required infrastructure and driving clinical, intellectual property and business strategy development.
The Senior Analyst/Associate* will support PureTech’s portfolio companies and team members, as well as conduct sourcing and due diligence of early stage life science deals. This includes:
- Driving venture creation activities and operations for portfolio companies
- Structuring and executing scientific and market opportunity analyses
- Crafting and developing business plans and presentations
- Managing project plans and timelines
- Sourcing opportunities and conducting due diligence on potential deals
- Participating in deal negotiations
- Graduate degree in life sciences from a top-tier institution required (MD or PhD)
- Business experience in a life science related company preferred, but not required
- Strong presentation and communication skills; candidate should feel comfortable presenting to groups
- Excellent quantitative analysis and research skills
- Entrepreneurial and self-motivated work style
The position is full time with a competitive salary and benefits. This is a unique opportunity to join one of the most innovative companies in the venture/life sciences space while getting hands-on startup experience in our portfolio companies. Please send a cover letter and your resume/CV to email@example.com. Please mention the job title in your correspondence. For more information on us, please visit www.puretechventures.com.
*Title to be determined based on experience
Thursday, January 29, 2009
Monday, January 26, 2009
Thursday, January 22, 2009
Do you have an idea for a great startup? Are you trying to raise funds for your startup?
I'm working with an alumnus that has had a couple of successful exits and is now looking to invest in Duke entrepreneurs. He is working with a couple of friends and they have agreed to look at a few opportunities.
So we've created the following simple form. If you're interested, please fill the form out.
Tuesday, January 13, 2009
Duke alumnus, David Cummings, contacted me about Shotput Ventures, which hopes to launch startups during the summer. Below is more information.
David has two successful comanies, Hannon Hill, and Pardot.
Shotput Ventures, a technology startup accelerator fund, will launch a three-month program this summer to give entrepreneurs a shot at converting passion into profit.
The group, which includes MFG.com’s Mitch Free, will invest up to $250,000 in eight to 10 potential companies. The deals will be small -- $5,000 per team and $5,000 per founder -- and focused on what the eight partners know well: capital-light, Web companies.
The concept is to help people with ideas, who might not have access to a small amount of money needed to get the idea off the ground, Shotput partner and architect David Cummings said.
“You have an idea and you can put 110 percent into it for three months, build something [and] prove it,” he said. “After three months you’ll have something tangible, you’ll have some beta customers.”
Cummings likens the selection process to applying to grad school.
“We are really trying to understand the person, what they want to do, why they want to do it,” he said. “The talent, and the ambition is much more important than already having something done.”
During the summer, the entrepreneurs will get mentoring from Shotput partners and access to veteran entrepreneurs, bankers and investors at weekly dinners. For the final exam, the class must pitch to the money men -- VCs and angels.
Cummings expects about a third of the class to walk away with institutional money and another third to bootstrap their way forward.
Investing in companies is riskier business, investing in mere ideas can be financial suicide. Shotput hopes to burn some of the risk by betting only on those sectors its partners are familiar with -- social networking applications, business-to-business marketplaces, e-commerce and marketing automation.
“If we don’t understand the idea or the space,” Cummings said, “we’re not going to [invest in it.]”
Making the right deals defines the success of any venture fund, said Mike Blake, managing director at valuation firm Adams Capital and co-founder of StartupLounge.
“It’s really tough to overcome a mediocre deal,” he said
For its effort and money, Shotput will get 5 percent to 10 percent in common stock in its portfolio companies.
“If we get five-times our money back,” Cummings said, “we’ll have done extremely well.”
Shotput Ventures addresses an unmet need for seed stage capital, said Greg Foster, partner at Atlanta-based Noro-Moseley Partners. Foster, however, suggested it might be difficult for Shotput to make a significant return given the relatively small stakes.
“It’s also more difficult for common shareholders to achiever a higher return multiple on their investment,” he said. “The [portfolio] company would have to be really successful to the degree that common shareholders receive a significant benefit.”
Regardless, Atlanta’s tech investors will be watching the Shotput model. By helping transform ideas into companies, Shotput creates future investment opportunities for the guys higher up the food-chain.
That, in the end, could be the legacy of the Shotput boys.
Thursday, January 8, 2009
This is run by our friends at NC IDEA. If you have a startup idea, and are looking for money, it's worth your while to investigate this.
NC IDEA Grants Program
The NC IDEA (North Carolina Innovative Development for Economic Advancement) Grants Program provides funding for start-up technology firms headquartered in NC to fill the gap between government and private equity support. Following a mission of job creation through commercialization of technology innovation, NC IDEA implements the Grants Program for companies in the fields of Information Technology, Medical Devices, Material Sciences, and Green Technologies.
The initial “pre-proposal” application process opens Friday, January 9th and pre-proposals must be submitted online by Friday, January 30th. Approximately 20 companies submitting “pre-proposal” submissions will be selected to participate in a subsequent full proposal submission and review period. This process will include submission of a more comprehensive proposal and prioritized budget for use of grant proceeds. The comprehensive proposal submission period will end in mid March. A final round of applicant companies will be selected to present their proposal to a NC IDEA Grants Program advisory committee comprised of entrepreneurs and early-stage business advisors. Grant recipients will be notified in May.
Please visit the website for more information and eligibility details: http://www.ncidea.org/index.asp?mid=4.
About NC IDEA
NC IDEA provides grants, loans and traditional venture capital to help young companies between seed funding and Series A financing. The non-profit company further supports these companies by leveraging strategic partnerships and alliances to help companies through research phases, business challenges and growth goals. NC IDEA is committed to supporting North Carolina’s economic development by ensuring young, innovative companies grow, create jobs and become contributing business leaders. For more information, visit www.ncidea.org.