"...if you’re still in the 'idea' or 'product-market fit' stage of your company, think of your runway as a set number of complete experiments you can afford to test before you run out of money. I stress 'complete' because a half-finished experiment is even worse than no experiment at all."
St. Pete Catalyst • Last week, Embarc Collective released its Glaring Gap report, with the support of JPMorgan Chase, to outline the state of tech entrepreneurship for women in Florida. Among the findings, we learned that just 15% of Florida-based venture firms have a woman on the team. Additional coverage in Tampa Bay Inno.
Tampa Bay Inno • RxLive, a St. Pete-based Embarc Collective member, is leveraging the rise in telehealth to help patients get access to medications by connecting them with trained pharmacists. The team raised $600K from angel investors last June, which enabled the startup to partner with clients in Oregon, North Carolina, Texas, New York and Illinois.
Tampa Bay Inno • Wedding industry veteran and Embarc Collective member, Jennifer Burns, has beta-launched Wedzee to sell and ship new, used and custom wedding items. The platform drives exact shopping recommendations and product suggestions to meet both style and budget.
Elevator Pitch: An energy on-demand marketplace that enables utilities and businesses to trade energy capacity driving efficiency in buildings and balancing the electric grid.
Position: Enterprise Account Executive
Position Highlights: COI Energy is looking for a dedicated Enterprise Account Manager to educate and convert our largest prospective customers. You will serve as the face of COI Energy for our Enterprise Accounts as we take the company to the next level of growth and help combat climate change.
Running out of money is one of the top reasons that startups fail. This week we look at resources to better calculate your startup burn rate and runway so that you can better manage the cash you have.
🔢 Startup Burn Rate Calculator - you can use this tool from Pilot to calculate your burn rate and compare your runway to startups at a similar stage.
How a Startup’s ‘Burn Rate’ Influences Its Success
Wharton's Ron Berman and NYU Abu Dhabi's Pablo Hernandez walk through their research to understand how a startup's burn rate impacts its outcome. While we expect that startups with high burn have a higher likelihood of failure, it's interesting to note that startups that do not spend enough also have a higher failure rate.
PitchCollective is a virtual pitch event that allows founders to pitch multiple investors at once, without an introduction. Past participating investors have included January Ventures, Precursor Ventures, Hustle Fund, Unshackled Ventures, Equal Ventures, Unpopular Ventures and Founder Collective. Pre-seed and seed stage software startups are encouraged to apply.
mHub, a hardware startup hub partner of Embarc Collective, is hosting an Industrial Startup Pitch Competition. The program is designed to give a leg up to underrepresented startups by connecting founders in the Industrial Internet of Things sector with investors and industry leaders.
The B2B Accelerator program takes an “inside-out” approach and prepares your business for investment and to execute your plan. Scalable B2B tech ventures that are post-MVP/Proof of Concept, have raised less than $2M in capital, and are able to commit to a 12-week program are encouraged to apply.
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