Saturday, May 26, 2007
The Weeks Following the BCVC
We are eager to catch everyone up to the present so that posts will be updates concerning current rather than past events. The aim of the this post will be to fill the gap between the end of the BCVC competition to the end of school.After the competition, the end of the semester and finals quickly approached. As a result, we were not able to spend too much time working on the venture. In all honesty, I am not even sure if we were all 100% sure that we wanted to actually pursue the venture at that time. Regardless, it was impossible for us not to continue thinking about it and how we might execute the idea. Joe Colasuonno, who placed 1st for his concept of campusnites.com, (an upgraded eaglenites.com that many of you may be familiar with), approached us about potentially forming a partnership. We both had a vision that our product/application could be more valuable when used and launched together. (Anyone that would came exposed to campusnites.com would also become exposed to our application and vice versa.) Miles and I were not only excited about the increased potential, value, and synergy that could be created through the partnership, but we were also excited about simply working with another motivated and intelligent entrepreneur. During finals, Joe and I met to further converse about how we envisioned a partnership and how the applications could benefit one another. We had similar views and both contributed new ideas. In summary, we concluded that our application would be one of the components and features on his website. Both of the websites would promote eachother through the process of new user registrations. When one user registered for his site, they would also be given a user profile on ours. The integration of our applications would generate increased traffic to both of our sites. We also discussed possible loopholes regarding advertising that we would have to address further down the road. We will go into more detail later about the partnership as we continue discussions. Also, check out his current site, EagleNites.com. Let us know what you think about it or if you have any suggestions or ideas.We continued our search for more funding by applying to an opportunity that Highland Capital Parnters was hosting, (A VC firm that was backing the competition). They were offering office space and an additional $15,000 for 8 college student startups. They ended up receiving over 150 applications from Harvard, MIT, BC, BU, and other schools in the area, so the competition was very tight. Although we were not accepted, we were invited back to their office for a networking event. They were still interested in our idea and learning more about us. I will be attending this June 4th and will let you know how it goes.These were the major happenings during this time. After the end of school, we immediately began to focus on finding web developers and examining various options to build our team. If anyone has any questions along the way, or would like us to discuss something, please let us know and we'll do our best to talk about it.
Subscribe to:
Post Comments (Atom)

0 comments:
Post a Comment