Startup Progression Example Two

Yesterday I also had a chance to meet with another new startup in town. This startup took a very different path from the other startup I met with as it is a spin-out from a large, established company. Here are some of the details:

• The founders have worked together for two years at a publicly traded company in town
• The CTO was the CTO of the company the publicly traded company had acquired at a strategic valuation
• They spun out with a handful of high profile clients as well as four employees (inclusive of the founders)
• They are in a fast-growing industry that has a lack of market awareness
• The team has an excellent technical background but doesn’t have experience building a sales and marketing machine

This is a team that will have an easy time raising money locally if they choose to do so. I’m looking forward to watching their progress.