075. Getting Funded On Proof and Winning Grants feat. Kat Weaver
Men get funded on potential and women get funded on proof.
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About SpringTime Ventures
SpringTime Ventures seeds high-growth startups in healthcare, fintech, logistics, and marketplace businesses. We look for founders with domain expertise, forging a path with a truly transformative technology. We only invest in software-based businesses in the USA. We bring a people-focused approach, work quickly, and reach conviction independently. Our initial check size is $600k. You can learn more about us and our approach.
About Rich Maloy
Rich’s mission is to rebuild the American dream through entrepreneurship. He believes technology gives all people the opportunity to grow, learn and earn. He is a Managing Partner at SpringTime Ventures and the host of the VC Minute podcast. With prior careers in finance and sales, he's been focused on the startup ecosystem for over a dozen years. He's a father of two young children and loves sci-fi, skiing, and video games.
This has been a great week and I've really enjoyed listening to Kat and hearing her fundraising advice.For today's episode,we'll finish up with two final thoughts that are incredibly powerful,but just weren't long enough to be their own episodes.Here they are.
Kat Weaver:For female founders,2%of women ever get venture capital and2%of women ever reach a million dollars.The way that women and underrepresented founders position themselves has to be different and a lot stronger in terms of the facts and traction versus this big vision.And that's actually been proven in Harvard case studies when underrepresented founder,female founders,are pitching for venture capital.There was this one woman,her quote was,and I can't think of who it was to credit her appropriately but,"men get funded on potential and women get funded on proof."
Rich:I hadn't heard that quote before,but it moved me so deeply.It bears repeating.Here it is again.
Kat Weaver:Men get funded on potential and women get funded on proof.To wrap things up for,for any founder struggling out there during the fundraising process,we advise that you actually go after grants at the same time that you're fundraising.No matter your stage and journey there are actually so many grants available right now.Shout out to the Guilty Grape girls because we just helped them win an$85,000grant in a weekend at the same time that they were fundraising.By Googling based on your stage,industry,there are so many out there to take advantage of,and it might only take you an hour or so to apply.And funds range anywhere from a thousand dollars to$50,000even a hundred thousand dollars.If you're struggling,there's a whole nother avenue of getting even non-dilutive cash,which is great for any founder at any stage.
Rich:I absolutely agree with that point.And I'm a huge fan of SBIR and STTR,America's Seed Fund.They put more than$4billion of capital to work per year.You can find more at sbir.gov.And like Kat said,there are other grants that are available,you just have to search for them.Thank you so much for being on the show.Where can people find you?
Kat Weaver:People can reach me either on LinkedIn at Kat Weaver,k a t w e a v e r,or you can apply for our program at Powertopitch.com two pitch,And thanks so much Rich again for having me.
Rich:That was amazing.What did you think about our first guest on VC Minute?Hit me up on LinkedIn and let me know.Thanks and have a great weekend.
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