The Venture Edge

Recently Peter posted an interesting piece on Mark Cuban's solution to stimulating the economy.  While I agree in principle that entrepreneurship is the way to make things happen, one could question Cuban's motives in his approach.  Actually last night one of USC's great grad students did question those motives, so I'm sharing his thoughts in my post. 

Last week Mark Cuban -- the billionaire entrepreneur and owner of the Dallas Mavericks NBA basketball team -- announced an interesting new approach to stimulating the U.S. economy: an open source funding environment that he would fund with his own money. Says Cuban, "Rather than trying to be a Venture Capitalist, I  was looking for an idea that hopefully could inspire people to create businesses that could quickly become self funding. Businesses that just needed a jump start to get the ball rolling and create jobs. I'm a big believer that entrepreneurs will lead us out of this mess. I just needed a way to help." Here's how it works: Simply post your business plan on Cuban's blog, and he will personally consider it for funding. There is no minimum and no maximum funding limit, and with a couple billion dollars in the bank, Mark can clearly afford some serious funding.

While I generally don't post information that will be stale in a few months -- much preferring timeless pearls of wisdom that will stand the test of time (*cough*) -- in this case I'm going to make an exception. I just found out about a competition that -- if you qualify -- you're going to be very interested in. It's called Pitch 2009: Women 2.0 Startup Competition, andthe prizes are nothing short of awesome.

The other day I sat in on an angel investor screening where two entrepreneurs were pitching their businesses for capital.  If you ever get the opportunity to do that you should, because it’s a great learning experience.  As many times as I’ve heard people pitch their businesses and as many times as I’ve coached people in their preparation to pitch, I always either learned something new or reminded myself of something I had forgotten.  This session was an eye opener.