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DayOne Ventures
Blacksburg's Lean Startup Program
Doug Juanarena
DayOne Ventures MentorVP - Blacksburg Site Leader, Rackspace Hosting
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Rackspace Hosting
Leader in hosted IT and cloud computing Acquired Webmail.US in 2007
3,300 employees with worldwide locations
RAX: $800M revenue - $4.6 B market cap
2011 Forbes: 7th fastest growing technology company Top 100 best places to work
100+ in Blacksburg development center
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The Cloud
The Cloud
Online Available Inexpensive
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The Cloud and Web Startups
Cloud is helping to tilt the balance of power in
favor of the entrepreneur
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The Cloud and Web Startups
Faster and less expensive to start a company
Hosting on cloud
Open source software PR- Twitter or Facebook
Sales- Google adds
Customer service- blogs & forums
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The Cloud and Web Startups
Companies can be launched without VC fundingFounders retain more equity and control
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Seed Mentorship Programs
Provide seed funding & startup environment for
launching companies
Typically 3 months in duration
Program provides seed funding
Mentors guide founders and open doors
Successful graduates are positioned for funding
Program receives 4 to 6 % of the founders equity
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YCombinator
Formed in 2005 by Paul Graham
Located in Mountain View, CA.
250+ startups Many successful exits: Loopt, Reddit, Clustrix, Wufoo, Scribd, Xobni, Weebly,
Songkick, Disqus, Dropbox, ZumoDrive, Justin.tv, Heroku,
Posterous, Airbnb, Heyzap, Cloudkick, DailyBooth, WePay, andBump.
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Blacksburg Startup Ecosystem
Intellectual capital: Virginia Tech Approx $500M/ yr in sponsored research
World class research park: CRC 2010 - Ranked #1 University research park 140 companies
2200 employees
Startup assistance: VTKW
Recognized as a top business accelerator Angel Capital: 460 Angels
Technology advocate: NCTC
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DayOne Ventures
We fund great teams with great ideas
We write the first, most risky check Up to $16K per team (2 to 4 members)
Mentors guide founders and provide advice
Office space & staff support provided by VTKW
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2010 Mentors
Bill Boebel
David CatalanoMike Drzal
Jim Flowers
John Hodock
Doug Juanarena
Pat MathewsKevin Minnick
Bob Savage
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Working Hard
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DayOne Ventures 2011
Recruiting companies for the class of 2011
Program to run throughout year
Recruiting additional mentors
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Class of2010- Heyo
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Class of2010- Nomad Mobile Guides
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Startup Ecosystem Contacts
www.dayoneventures.com
www.vtip.org
www.vtcrc.comwww.vtknowledgeworks.com
www.460angels.com
www.thetechnologycouncil.com