News

The Venture Atlanta Edition

By September 17, 2019 No Comments

Happy Tuesday Everyone!

We had some big news yesterday, maybe you saw it… Eletype was selected as a Presenting Company at Venture Atlanta 2019! Read all about it.

This will be our second trip to Venture Atlanta and it is an honor to be attending this year as a select group of 36 Presenting Companies. Hundreds of companies applied from all over the southeast and, as a presenting company, we will be on the big stage with the other “rising stars”.

So what is Venture Atlanta? 

On October 16th and 17th, Venture Atlanta is the Southeast’s premier event for connecting technology innovation and investment capital. With representation of over 200 national investor funds and an expected attendance of over 1,000 technology entrepreneurs, premier investors and key executives from across the country, Venture Atlanta has served as a launching pad for hundreds of companies over the past 12 years, connecting them with game-changing capital and opportunities to drive significant growth.

In 2018 Eletype participated as a Showcase Company reserved for early stage companies that are “companies to watch” in the Southeast. Being back this year is an incredible way to build on last year and while capping off our Techstars journey.

Note: Techstars Demo Day is the same week on October 14th. We will have a lot more information on that in the coming weeks. Dear, investors, we hope to see you at both! 

So this week I wanted to share some tips for Venture Atlanta and recognize our friends that were also selected to participate.

Props to our friends

We are all in this together, so let’s start by giving some shoutouts to some local companies we love.

Cove.tool – Congrats to our TechSqaure Lab family. If you recall, Cove Tool and Eletype both won investments from Atlanta Startup Battle 4.0 back in April of 2018. #BuildSomethingFromNothing

Mile Auto – Congrats Fred! We had the pleasure of traveling to the west coast with Fred and MileAuto earlier this spring. Go team ATDC!

OncolensAnju Mathew is the CEO of one of my favorite ATDC healthcare companies. Congrats!

Voxie – Nice job Bogdan! Voxie is part of our conversational AI and message app meetups in Atlanta. We love seeing messaging-centric apps being recognized at Venture Atlanta.

Worthix – Gui and his team at Worthix have been on fire for the past two years. Another ATDC Signature Company.

Toucan AIArjun and Vishnu!! Congrats! Also ATDC family and part of the growing messaging-centric application ecosystem here in Atlanta.

Finally, our Techstars cohort is well represented by Coworks, RentCheck, StreetMetrics. Love these guys! Congrats DeShawn, Marco and Drew!

How to get the most out of Venture Atlanta

Being a Presenting or a Showcase company is great PR, but, at the end of the day, that doesn’t mean much. So while we were honored to participate last year, we actually received some very tangible benefits directly from this event.

We of course met a lot of great people, companies and investors, but we walked away with a new advisor and 2 investments.

How did we do it?

It all starts with prep work and we laid down a pretty thorough few weeks of pre-event preparation.

Tip 1 – Do the social grunt work.

You’ll have three lists available before the event: The participating companies, the investors and the sponsors. Organize a master spreadsheet and identify all of their Twitter and LinkedIn profiles. Then follow everyone from your personal and corporate profiles. For LinkedIn, send a note with the connection request. For Twitter, engage with their tweets. Why is this important? Social connections are an easy ask and it has the combined effect of creating a soft connection while also boosting your social media credibility.

Tweet and post in the days leading up to and during the show. This will keep your company top of mind.

Tip 2 – Review investors and identify ones that seem like a good fit. Don’t worry if they don’t invest in your stage just find the ones that invest in companies like yours and have an investment philosophy you agree with. Investor relations is something you should always be doing. Very few investments occur after only one (or two or three!) meetings. This is all about relationship building. Make the connections early by sending personalized LinkedIn messages. Don’t make a hard ask, only express interest in meeting them at Venture Atlanta. Tell them why their fund is interesting to you and include some high level information about your company.

If possible, schedule 1:1 meetings during Venture Atlanta. Even if you aren’t ready to raise money. Schedule the meetings. Face-to-face meetings are infinitely better than video calls and it lays the ground work for regular communication as you nurture the investor relationship. Don’t worry if you can’t get a formal 1:1, try to at least grab coffee so you can put a face to a name. In person meetings, no matter how short, will be memorable and pay dividends later on.

Tip 3 – If you are in the Showcase, make sure you have a demo! Investors like to play with things. Have something you can show! We had a demo video playing on a monitor and live versions of our app on our phones and tablets.

Tip 4 – Create opportunities for random encounters. Marc Andreessen talks about this in Luck and the Entrepreneur. This is more than just random mingling during cocktail hour. Have a plan to create your own luck. Know who is there, who to talk to and who can make introductions. Be in motion. No one every ran into someone sitting down. You never know who you will meet and you never know when people you met will come back later with an opportunity.

I met someone who would become an investor and advisor randomly in the elevator on the way out of  the Venture Atlanta reception. Turns out he was at the Showcase earlier and had received a demo from our team and was interested in our solution.

Also, we had unknowingly talked to investors from 11-11 Ventures. A few months later we got a call saying they were interested in investing and a few weeks after that we got a check. This was totally random as they weren’t on our radar, but random encounters turned into real dollars. It happens, but you do have to make it happen by creating as many opportunities for chance encounters.

Tip 5 – Follow up. All of those business cards, all of those LinkedIn messages, all of those conversations, you have to follow up. It’s on you to close the loop and keep key prospective investors updated. Send a personal note after and then add them to your blog posts, your investor updates and your general announcements. Use Mailchimp or HubSpot so you can see if/when they open your communication. You never know who is really interested until you track it. There are great tools out there to help.

Well, we had success with Venture Atlanta last year and I’m certain that the ground work we laid then will continue to pay off this year!

Until next week!

I hope you enjoyed the update!

– Michael

 

About Eletype

Eletype is a leader in team-based digital marketing technology. Eletype is working with digital advertising agencies, specifically with search and social media teams to help automate their campaign monitoring. Our 100% messaging-first approach is what we call ‘last-mile’ analytics. We turn insight into action so marketing agencies can save time, reduce mistakes, and improve performance for their clients.

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Michael Sengbusch

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