Want Kleiner Perkins iFund VC? Business Plans Required!
By DONNA BOGATIN • Feb 23rd, 2008 • Category: DEAL TRACKERThrow out your business plans! So goes the public facing (not so) wisdom of new fangled Web 2.0 “friendly” venture capitalists.
Business plans do indeed STILL rule the VC world though, just ask Kleiner Perkins Caufield & Byers (KPCB), if you want to ask for some of their $100 million iFund kitty for iPhone and iPod developments!
In collaboration with Apple, KPCB will identify “innovators pursing transformative, high-impact“ ideas for iPhone /iPod touch platform applications, services and components and will then determine which such ideas iPhone and/or iPod related ideas may realistically be developed into independent durable companies. How will KPCB evaluate stand alone business potential worthy of from $100K of iFund seed capital to $15 million of iFund expansion capital? By obtaining and reviewing business plans!Apple CEO Steve Jobs::
Developers are already bursting with ideas for the iPhone and iPod touch , and now they have the chance to turn those ideas into great companies with the help of world-class venture capitalists.”
KPCB partner John Doerr:
A revolutionary new platform is a rare and prized opportunity for entrepreneurs. We think significant new companies will emerge as this new platform evolves, and the iFund will empower them to realize their full potential.
To seek entrepreneurial empowerment via the iFund, submit a business plan to KPCB. KPCB offers handy business plan presentation tips for all iFund hopefuls:
1) Describe the market opportunity as you see it. Include information on the unmet market need, market size estimates, and unique features of the market that are relevant to your venture.
2) Describe your solution. Focus on how it is unique and distinctive from other similar solutions.
3) Describe your technology stack and any proprietary intellectual property you have developed or intend to develop. Focus on how it is unique or different from other similar technologies.
4) Describe the competitive landscape. Include details on how you are different from each of the competitors named.
5) Include company founder bios.
6) Indicate company stage: Per-launch? Early revenue of XX US$ per month? Usage as measured by XX monthly actives or XX total downloads.
GOOD LUCK!
GOT A BUSINESS PLAN? PITCH IT HERE!
DONNA BOGATIN is the Founder & CEO of STARTUP ALPHA
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