IRVINE, Calif., Sept. 13, 2016 /PRNewswire/ -- VCNetwork.co, a comprehensive database of independent venture capitalists around the world who are seeking viable startups to fund, launched a worldwide mentorship program that's first-of-its kind. It aims to help startups secure funding, while increasing scalability through one-on-one time with the founders of VCNetwork.co, Jenny Q. Ta and Shinta Witoyo Dhanuwardoyo.
The leaders of VCNetwork.co will mentor one to two startups, at no cost, per month to start. The selection process will be at random when startups submit their information to VCNetwork.co's platform, effective immediately. Startups from all over the world will be considered; the mentorship process is via digital communication. Startups wanting to secure their spot in the program have the option to pay $199 for half an hour of one-on-one time. Founders of VCNetwork will also mentor startup founders for free at local events they speak at, upon request.
Alongside the mentorship program, VCNetwork.co accepts business plans from startups and personally reviews them, offers feedback and shares select ones with their network. So far, VCNetwork.co has received a few hundred business plans worldwide. However, in the process of accepting business plans, the leaders of VCNetwork.co realized that more than 60% of startups applying for funding desperately needed guidance in creating "fund-worthy pitch decks and ideas." Hence, the idea for the Mentorship Program was born.
VCNetwork.co is proud to kick off the program with the founders mentoring startups personally. They plan to expand the program with mentors from their network of VCs, professionals and investors in early 2017.
"After reviewing many new business proposals in our first few months of business, what the VCNetwork.co leadership team noticed immediately is what 'wantrepreneurs' need, more than anything, is direct one-on-one time with VCs worldwide to learn precisely what funders are looking for in startups, from an interpersonal and professional level," said Jenny Q. Ta, Founding Partner and CEO, VCNetwork.co. "Our mentorship program is going to hugely impact the startup community because my Co-Founder, Shinta, and I are giving a rounded approach to promote successful startups, offering our expertise in business and the tech ecosystem, while helping them understand what VCs are looking for before we fund a startup. We want to give knowledge that helps startups raise money from VCs in the US and abroad, and push them beyond the bubble for startups to make better decisions and find the next level of success, beyond borders."
Ethan Montoya, CEO of Koowalla, a free mobile app for video editing and storytelling, is one of the first startups in the program. He shares his experience with VCNetwork.co's Mentorship Program and how his startup was able to pivot for a global audience.
"Jenny coached me to stop thinking about going after small checks and focus on building the right plan to ask for what I really need to move my business forward," said Montoya. "Drawing from her own experience as an entrepreneur, she gave me her personal tips to get more value from my network."
VCNetwork.co's mission in breaking the "good ole boys club" and their bold top-down approach - a reverse model of competitors' bottom-up - promotes higher fund ratios to help startups break through. VCNetwork.co's Mentorship Program is another way they're bringing change to shake up outdated VC models; truly going beyond borders for startups and VCs worldwide to connect.
How does VCNetwork.co work?
Entrepreneurs create a profile on VCNetwork.co, which includes the founder's and team's information, as well as how much funding the startup is seeking. Once they submit a business plan and select the industry they're most closely related to, VCNetwork.co's intelligent system pairs them with the best business match for their funding needs.
To protect the privacy of individual VCs and firms, email addresses and phone numbers are not shared with the public. Business plans are securely emailed from VCNetwork.co to each paired VC's point-person. The startup then receives a notification that their profile/business plan have been shared with that particular VC, and they can then refer to the VC's website for further information. Good news for entrepreneurs: the first submission is free (each additional submission requires a flat fee of $99).
Co-founded by Jenny Q. Ta – serial entrepreneur, former Founder / CEO of two Wall Street Broker-Dealers & Investment Banks, and Founder / CEO of Sqeeqee.com, the world's first "Social Networthing®" platform – and Shinta W. Dhanuwardoyo (aka Shinta Bubu, Founder / CEO of Bubu.com), VCNetwork.co was conceived to help forward-thinking VC firms and individual VCs find the startups that have what it takes to succeed. The award-winning partnership between these two innovative women makes it clear that both understand that VC investing is all about connections. Facilitating such connections, both large and small, is what VCNetwork.co is all about. All entrepreneurs are given the opportunity to submit their business plan through VCNetwork.co for the chance to be considered by one of more than 1000 VCs in this highly coveted database. To learn more aboutVCNetwork.co, visit https://vcnetwork.co/. https://vcnetwork.co/