CONNECT FrameWorks Workshops present The Art of the Start-up
Program Overview: For entrepreneurs, deciding to form a company, or become involved with a start-up, presents enormous challenges. Navigating around legal, fund raising and other issues can often seem overwhelming, and traps for the unwary or uninformed are numerous. However, successfully avoiding the most common pitfalls made by entrepreneurs can make a significant difference as to whether or not a company is fundable, the sources and types of capital that will be attracted, who controls the company, the economic impact on founders upon exit, and a company’s likelihood of success. In this interactive half day workshop, Roger Rappoport will discuss these and other issues in three interactive sessions.
What you will learn:
• Start-up Issues Generally—including, choices in entity selection; an appropriate capitalization table, including how much stock to set aside for employees, consultants, board and advisory board members and the perils of Section 409A; Founders’ issues, including amount and allocation of founders’ stock (including Series FF Preferred Stock), vesting, assignment of intellectual property, employment/consulting agreements and more;
• Developing and Executing the Right Funding Strategy—including a discussion related to seed, angel and venture capital funding, appropriate funding instruments for each round, including the pros and cons of selling equity, convertible debt, and venture debt; selecting, and gaining access to, the right funding partner; and valuation, and things to do to increase the pre-money value of the company.
• The Anatomy of a Term Sheet— a brief discussion on the anatomy of the term sheet, including, understanding the structure of, and the provisions that will most likely be included in, a convertible debt and venture financing term sheet; how to arrive at a realistic pre-money valuation; the economic impact of certain terms on existing shareholders; the provisions that affect the degree to which current founders and management will have to relinquish control of major and/or day-to-day decision making; and the most recent trends relating to liquidation preferences, participation rights, anti-dilution provisions, pay-to-play provisions, redemption rights, registration rights, rights of first refusal and co-sale rights, and more.
Who should attend:
Founders, CEOs, and managers who are looking to start a company and develop and implement a funding strategy or are seeking funding, as well as scientists and technology experts considering a business start-up in need of financing.
Event Details: Date: Wednesday, September 14, 2011 Time: 8:00 a.m. – 11:30 a.m. (Registration begins 7:30 a.m.) Location: Sanford – Burnham Medical Research Institute 10905 Road to the Cure San Diego, CA 92121 Note: A light breakfast will be provided for participants. Contact: Linda Wells Email: firstname.lastname@example.org Phone: 858-964-1319 Fees: Pre-Registration $45. At the Door $65. (subject to availability) *Registration will close on or before September 13.