Idea Stage Startup Funding

I frequently complain about the lack of idea or seed stage funding available for Utah entrepreneurs. Sometimes, especially in the open source software era, and in era of internet marketing, a venture can be started with just a few thousand dollars. (FundingUtah.com cost only $2,000 to launch phase I. We\’re now finishing phase II and working on a couple possible revenue streams. We also own 70 more domains, so that if this site works in Utah, we may roll it out elsewhere. We already have more than 100 entrepreneurs and 49 angels signed up, representing almost $30 million in available funds.) There has never been a better time in history to start a company.

Phil Windley blogged this week about a program back east called Summer Founders. He said he wished we had something like that in Utah. I checked it out and it looks way cool. Back in Cambridge, MA there are 4 guys who have started a seed stage fund called Y Combinator. Their summer program is designed to provide seed capital to entrepreneurs (hackers mainly) who might be able to make a go of a company if they had a little financial support.

But Phil, we have Junto here in Utah, thanks to Greg Warnock.

I think Junto is structurally superior to the very laid back Summer Founders program. You end up with a team of five who are committed and incentivized to help each other succeed, each with their startup company. I attended a Firepoll advisory board meeting today with Greg and the five Junto entrepreneurs (and Craig Bott from Grow Utah Ventures, a $5 million private VC fund). There is a lot of energy there and I think we\’ll see some great entrepreneurial developments coming from these groups. I applaud Greg for his vision and his willingness to teach young college grads to take the entrepreneurial path.

One thought on “Idea Stage Startup Funding

  1. Junto is providing more than just seed money for talented entrepreneurs. Greg is passing a vision of success to over twenty individuals in each session, and the skills learned are invaluable. While only five participants will get funding, each will take away a robust set of applied skills and a valuable network of like-minded entrepreneurs – which will increase their chances of successfully finding and launching venture opportunities on their own.

Leave a Reply

Share:

More Posts

Soar.com Logo Design

Some of you know that my partners and I are launching a new company that aims to help a billion or more people soar with

Cold Showers Can Benefit Your Health

I hated what I read in the Harvard Business Review last Friday: Cold showers have health benefits. I’ve always ignored people who advocate taking cold

People Like Me Need People Like You

“People Like Me Need People Like You” Someday I’ll write a book about Ancestry.com. I’ll highlight the people who built Ancestry from the ground up–unsung

The Team Coaching Zone Podcast

To listen to this podcast, click HERE. Announcer: Welcome to the Team Coaching Zone podcast. Join your host Dr. Krister Lowe and today’s leading organizational

My Favorite Artist

Artists, poets, and prophets can help us make sense of the craziness that we experience in the world. My favorite artist is Regina Spektor. When

The Coach You Need

When you need a helping hand in life or at work you might decide to hire a coach. There are many amazing executive, career, leadership,

Beware of Taking Advice

Next Friday I get to deliver a keynote at Phoenix’s biggest startup event. But beware of taking advice from me–or anyone else. Startup events are

An Entrepreneurial Superpower

One of my entrepreneurial superpowers is asking questions at scale. Before I started Ancestry I went to libraries and conferences and asked questions. I learned

Paul hopes to bring the strengths message to all 50 states and to 50 countries by 2025.
Contact him so he can help you spark a strengths movement in your area, company, or industry.