Texas

New high-tech bridge loan fund
This story first appeared in the December 2000 issue of Entrepreneur. To receive the magazine, click here to subscribe.

Technology entrepreneurs in the Lone Star State who are seeking equity capital may be eligible for a bridge loan of up to $200,000 through the new $2 million SeedStage Angel Club Fast Money fund managed by Silicon Valley Bank. SeedStage is an Austin-based venture accelerator that prepares entrepreneurs to seek equity capital. Here's how the loan program works:

Ideally SeedStage seeks entrepreneurs who have at least six months of sweat equity invested in a venture. The business concept must be capable of producing at least $100 million in sales for the firm in an industry with at least $500 million market capitalization. Additionally, the business should be capable of yielding a 50-fold return on the investment. Begin the process by registering for a $250 membership in SeedStage at www.seedstage.com. Registration is followed by an invitation to visit a SeedStage fast-pitch meeting, where you'll give a mock 15-minute presentation in front of a partner team. This is followed by 15 minutes of candid feedback, supplemented by videotaped and e-mailed commentary.

Applicants who have potentially fundable ideas are then invited to participate in three- to four-month coaching programs. After 30 days of intensive grooming, they can obtain a Fast Money loan with approval from a simple majority of the SeedStage angel pool.
For additional details, visit the SeedStage Web site.

View Comments (0)