We want to congratulate Unparalleled Energy, the winner of last week’s Phoenix CrowdPitch!

We had the opportunity to have a Q&A session with Cary Lovins about the company and the experience they had presenting at this event:

• FundingUniverse – Tell us a little about your company.
• Cary – We produce the world’s only protein bread, an energy drink (which tastes fantastic and lowers cholesterol and tryglercides), and a delicious energy/protein bar.  After receiving the funding we need, we will launch our products to over 5 Billion people.

• FundingUniverse – That’s impressive.  How did you get started?
• Cary – I have always been good at formulating things.  I made the ingredient list for three other energy drinks.  Two years ago, I started another healthy energy drink.  It translated very poorly in other countries, so I sold it.  I then created another energy drink.  4 months later, I created the protein bread and the energy/protein bar.

• FundingUniverse – Why do you feel your product is unique?
• Cary – Our products are the only ones like them in the world and cannot be reformulated.

• FundingUniverse – What funding challenges did you face as you were trying to get your idea off the ground?
• Cary – I had no challenges really, I used all of my own money from the sale of the other company.  I am now just having a problem with getting an investor to make the product.

• FundingUniverse – How did you hear about FundingUniverse and the Phoenix CrowdPitch event?
• Cary – While online looking for angel investors.  Thanks to a gentleman in your company named Darren, I was penciled into CrowdPitch.  I honestly believe Darren is a true asset to your company and should be commended.

• FundingUniverse – Describe your experience pitching your idea in front of a live audience and panel of experts at the CrowdPitch event.
• Cary – I loved pitching the idea, because I truly believe in my products and want the world to be a healthier place.  My heart and my mind are 150% committed to this.  However, it was very scary and I had never done anything like that
  before.  I really did not know whether to look at the panel or the crowd.

• FundingUniverse – Did you get any new insights or ideas from the Q&A portion of the event?
• Cary – Everyone loved the product and the pitch, however I could have spoken a little louder.  The other companies I heard received a lot of help though.

• FundingUniverse – How does it feel to know that those in attendance liked your idea and gave their “funny money” to you?
• Cary – It made me feel great to have complete strangers enjoy my products.  The funny money is an excellent way to determine the winner by being unanimous.

• FundingUniverse – What is the next step for your business?
• Cary – Upon completion of funding, we will begin filling our orders to get these three products out to the world and have people eating healthy food that is very good for them.

Thanks again to Unparalleled Energy and all the other companies that pitched at this event.  We are already looking forward to similar upcoming events in Utah, Seattle, Portland, and San Diego (to name a few).

If you are in the Phoenix area, get excited.

FundingUniverse is expanding every day and we are taking Arizona by storm!  One of our first orders of business is the Phoenix CrowdPitch this Wednesday, October 28th.  This FREE event will bring pitching to a whole new level as the best-of-the-best entrepreneurs pitch their big ideas to a panel of expert investors and a live audience (think Shark Tank meets American Idol!)

Everyone (including the audience) will get to invest play money into the company of their choice, and the winner will get some fabulous prizes.

It is all topped off with a FREE networking luncheon.  You can’t go wrong!

To RSVP and for more information go HERE

Click HERE to watch the podcast discussing what FundingUniverse is doing to bring entrepreneurs and investors together in the Phoenix Area.

Not sure if you have heard the news, but President Obama unveiled initiatives to help small businesses get more access to lines of credit.

“There is still too little credit flowing to our small businesses. There are still too many entrepreneurs who can’t get the loan they need to open their doors and start hiring.  There are still too many who are struggling to make payroll and stay open. And there are still too many successful small businesses that want to expand further and hire more but just don’t have the capital to do it.”

I’m singing to the choir here, but this welcome news!  The first government attempt to help small businesses with the current economy was the ARC loan.  Unfortunately the ARC loan has really been a weak band aid without a lot of results.  The amount of paperwork that was required to be able to apply for the $35k-max loan was over the top.  As a result, there were very few banks that really ended up pushing the loan.  We work with hundreds of banks across the United States and very few of them were approving the government-created loan.

Here are the rumored proposals of this change:

• The maximum size of the SBA 7(a) loans would rise from $2 million to $5 million
• The maximum size of the SBA 504 loans would rise to $5.5 million
• The maximum size of SBA microloans would increase from $35,000 to $50,000
• Community banks with less than $1 billion in assets (which make the bulk of small-business loans) could receive new capital at an initial dividend rate of 3% (the current rate is 5%)
• Community Development Financial Institutions (they do the bulk of their small business lending in under-served rural areas) would get access to capital at a 2% rate

I’m stoked to hear of the new plans and have been long awaiting an announcement like this.  I, for one, believe that the economy is 99% dependent on the success of small businesses — and so that’s where our focus should lie.  Growing businesses create jobs –> jobs create income –> income purchases homes, consumer products, etc. –> economy gets back on track.

Unfortunately, they haven’t announced a time frame to the roll out.  Let’s hope that it comes sooner than later!

FundingUniverse’s next Utah CrowdPitch event will be a little bit different than most.  We will be focusing on social entrepreneurship, and we’re looking specifically for profit-based social ventures that aim to improve our community.  There are two criteria that every pitching company must meet:

1 – You must be a viable, for-profit company

2 – Your business model must benefit the Utah community by solving local social problems, for example:

• Green energy and environmental solutions
• Local sustainable agriculture & small-scale agri-products processing
• Address social and economic problems using private sector approaches as an alternative or complement to non-profit approaches
• An organization set up to incubate, mentor, and create more for-profit companies run by minority or women entrepreneurs.

The rest of the event will go the same as our other CrowdPitch events

• Entrepreneurs pitching their business to a panel of experts & a live audience, with feedback from the experts (think “Shark Tank” meets “American Idol”)
• Everyone “investing” $100 of Monopoly money into the company of their choice
• The winner will be awarded the opportunity to pitch to Innoventures Capital Partners.
• It will all be topped off with a free networking luncheon for all in attendance!

We have a great panel of experts set for this event, and if you want to apply to pitch or RSVP as a spectator (both free!) go HERE!

When & Where:

• November 4th
• 11:30 am – 1:30 pm MDT
• Lone Peak & Red Pine Rooms
• Karen Gail Miller Conference Center
• 9750 S 300 W
• Sandy, UT

This past Tuesday (October 6) FundingUniverse hosted another SpeedPitch event in Utah, with a record number of investors and entrepreneurs in attendance

Investors from The Utah Angels, Staker Ventures, BYU Center for Entrepreneurship, University Venture Fund, Utah Fund of Funds, Innoventures Capital Partners, Park City and Olympus Angels, and Blue Diamond Capital were represented, among others.

During each of nine rounds, the presenting companies had 4 minutes to pitch their idea, followed by 3 minutes of Q&A. The investors voted and the three favorite companies were invited to do a second round of Q&A with the entire group. The companies chosen this time were Zoobies, Dr. Tim’s, and Heated Coating.

The event concluded with a networking luncheon catered by Tucanos Brazilian Grill. It was a great success and we wish everyone the best of luck as they move forward in the funding process!

We recently had the opportunity of working with Monica Beeman to help her secure debt financing for her new company. The company, called Vines to Vino, is Baltimore’s only winemaking establishment where you make the wine! Using grapes from the world’s finest vineyards, you crush, press, barrel, and bottle the wine under the guidance of a master winemaker.

Monica dropped us a line and talked about the positive experience she had with FundingUniverse:

“I found FundingUniverse while searching for a way to connect with angel investors and peer-to-peer funding websites. I quickly called and spoke with Darren Lunt (he made such an impression on me that I will never forget his name!) to ask questions about which level of service I should consider, as I was still unsure of how to structure investments in my business.

I knew I had major obstacles to overcome because I had a bankruptcy 5 years earlier. Darren very bluntly instructed me to consider debt financing, which is what I wanted to pursue anyway. He suggested that I purchase the risk profile report. Having lost my job back in February and living on unemployment (with a newborn baby), I had NO money to purchase this. After begging a family member to borrow the money, I started my process with FundingUniverse and purchased the Risk Profile Report.

I was a little disappointed to read information that I already knew (I stay very current on my credit reports), but I was somehow energized to make the necessary changes to go from an 11% chance of funding to a 90% chance. Once again I was at a speed bump, as I now needed actual cash to make the changes to my personal credit and start building the business credit. I spoke with Jordan in the Finance Dept and we made arrangements for me to start pursuing a microloan to accomplish this.  We did this, understanding that with these changes, I would have a better chance of getting the funding I really need.

I have since secured a $5,000 loan through and have been able to incorporate the business, build a website and print marketing materials, and I am now working with the legal group to dispute the negative information on my credit.  Shortly, I will return to FundingUniverse and re-apply for financing for a larger amount to bring Vines To Vino to operation!”

We wish Monica the best of luck in her new venture!

Check out the website here – http://www.vinestovino.com

At FundingUniverse we pride ourselves on doing everything we can to help entrepreneurs in any way that we can. This is a rather broad statement, but it’s true. We work with thousands of businesses a month, all around the USA and sometimes beyond, to help them with the variety of needs their ideas and businesses face on the way to financing.

Equity and debt are the two ways to get outside financing, and I dare say we offer more options, and a higher success rate, then any other option available to entrepreneurs today. So far this year, we have helped our entrepreneurs received over $30MM in financing, and we expect that number to grow strongly between now and year-end. In 2010, this number will increase dramatically as we open physical offices in Seattle, Portland, San Diego, Sacramento, San Francisco, Las Vegas, Boise, Phoenix, Austin, Boulder/Denver, Chicago, Boston, Miami and probably a few more yet to come. The model we have for helping entrepreneurs find the right path to the financing they need is one we spend countless years/hours on. Our team is here everyday thinking of ways to help entrepreneurs be more successful.

One of the great things (and we would humbly submit that there are many) of what we do in regards to our relationships with entrepreneurs is the hosting of events designed to help them get the funding they seek. CrowdPitch is a ‘Shark Tank / American Idol’ style pitch featuring 5 great companies in front of a live audience and a live panel giving real time feedback. The winner of the event (announced at the event) can go home with as much as $5K in prizes. Audience members ask questions, write down feedback, and vote along side the panelists by placing FundingUniverse money in the hands of the presenting companies at the end of all presentations. The winner is the one with the most investment dollars.

Our panel of experts provides real time feedback as well – and in combination with their additional written feedback and the summarized written feedback gathered from our audience, we provide a detailed summary of all thoughts to our 5 companies within 48 hours of the event. Our presenting companies get tremendous value from the panel, the audience and the practice. Some would say the experience has been “invaluable”. In fact, we will agree.

Along those lines, and in partnership with our friends at TechStars David Cohen and Brad Feld, the fee for the 5 companies selected to be at CrowdPitch will now be $0. That’s right, zero. Nothing. Nada.

We want to help lead the charge that Brad and David have started and really live up to our mission of helping entrepreneurs. This is one way we know that we can. We will still charge a fair fee for other services that many find valuable (business plan writing, coaching, financing help, etc.), but we will not charge our entrepreneurs to present at CrowdPitch. We hope this is something that will bring us even more talented entrepreneurs to help and evaluate.

Spread the word, CrowdPitch is coming to a city near you! Let us help you and your business get the funding you need – equity or debt. If you aren’t selected to pitch, come watch. It’s free as well! And did we mention free food and drinks too? It’s become a free-for-all it appears. Again, we look forward to seeing all of you at our upcoming events. In the meantime, we again thank Brad and Dave for leading the charge here and we hope others will follow.

FundingUniverse has always been known as a great source for connecting entrepreneurs with active VC’s, angel investors and other lending sources. We’re passionate about helping people get their ideas off the ground, but the people we connect are also very passionate. Here are some of our favorite quotes collected from both entrepreneurs and investors. Follow us on Facebook, Twitter, and Linkedin, where we will continue to post new quotes as we collect them.

-“FundingUniverse continues to be a great source of deal flow for me. I’ve become a regular at the SpeedPitch events over the past couple of years and don’t plan on stopping anytime soon!”
Damon Kirchmeier—investor

-”The speedpitch got us in front of more investors in 90 minutes than we had gotten in front of the entire year prior. We landed our first meeting just 30 minutes after leaving the event. Anyone who is seeking funds and has absolute confidence in their idea needs to prepare for and attend a speedpitch event.”
-Alan Martin, Founder / CEO
CampusBookRentals.com

-“The UtahAngels have attended SpeedPitch since the beginning, and six of us were there yesterday! Typically, we invite one or two of the SpeedPitchers to present at our monthly meeting. Thank you FundingUniverse.”
Scott Frazier, Utah Angels

-”For a small company needing capital infusion, the SpeedPitch event was invaluable. Not only were we able to establish productive contacts within the investor community, but we also refined our investor pitch. The process of preparing for and participating in the rapid-fire presentation format challenged us to clearly articulate why Simplifile represents a compelling investment opportunity. Very worthwhile.”
-Rob Moore, Simplifile

-“I have been extremely impressed with the quality of the pitches I have heard through FundingUniverse. The coaching received from FundingUniverse helped entrepreneurs deliver their pitch in a clear and cohesive manner.”
R. Andrus, Investor

-“We walked away with $375,000! FundingUniverse helped us with our pitch and put us in front of the right investors to get a deal done quickly. We had 10-12 investors that were interested in our investment opportunity. It was a great experience.”
N. Alder, Entrepreneur

-”Funding Universe’s virtual/real-world hybrid method of introducing entrepreneurs to investors is more personal, more interactive, and more effective than any other method I have seen.”
D. Thorpe, Investor

-”Funding had been the biggest obstacle to starting our business when we inquired into the services that Funding Universe offered. It took time but we were able to find the investors we needed and start our business even during a world financial crisis. The most important contribution that Funding Universe gave us was the ability to understand and approach investors, which helped us make the changes we needed to move forward.”
S. Walker, Entrepreneur

As a result of some confusion between our Speedpitch and LivePitch events, we’ve changed the name of our LivePitch events to CrowdPitch.

What is a CrowdPitch?

Well… have any of you seen the new TV show on ABC called SharkTank? Well, the CrowdPitch event is a nice mix between SharkTank and American Idol. Essentially, 4-5 companies pitch their business to both a panel of 4-5 investors and a live audience of 100-200 other business owners. After the presentation, the panel will provide real-time feedback (Simon Cowell style) to the entrepreneur.

In addition, the audience plays a large role in the event: we give each member of the audience $100 of monopoly money that they can “invest” in their favorite presentation. After all the “investments” have been made, we count up the monopoly money and provide a nice $2-$5k prize pack to the winner!

What is the difference between CrowdPitch and Speedpitch?

This is a question that we get asked on a regular basis. The main difference between the 2 events is the audience. The Crowdpitch event is intended to attract a large audience — networking is an important component of the event. However, the Speedpitch event is a very exclusive/intimate event where only the 6-10 presenting companies, the 20-45 investors, and a handful of select sponsors are invited/allowed to attend.

Coming to a place near you…

I guess that I should let you know that we have announced our events for the remainder of the year and, if you are in the west, it’s likely we’ll be coming to a location near you! (If you’re out East — don’t worry, we’ll be coming their soon enough). Here is a brief overview:

September 30 – Denver – CrowdPitch
October 7 – Utah – SpeedPitch
October 14 – Boise – CrowdPitch
October 28 – Phoenix – CrowdPitch
November 4 – Utah – Social Entrepreneurship CrowdPitch
November 18 – Seattle – CrowdPitch
December 2 – Utah – SpeedPitch
December 16 – Portland – CrowdPitch

If you are interested in being a part of any of these events, let us know (send an email to members “at” fundinguniverse.com).