For nearly two decades Roger Andrus has been instrumental in helping 1,000's of entrepreneurs secure the capital they need to start and stay in business. Through the years Mr. Andrus established and led several national commercial lending divisions and companies; one of which gained national promine... More
For nearly two decades Roger Andrus has been instrumental in helping 1,000's of entrepreneurs secure the capital they need to start and stay in business. Through the years Mr. Andrus established and led several national commercial lending divisions and companies; one of which gained national prominence and was sought out and acquired by AT&T. In 1996 he founded Commerce Capital Corporation; a commercial lending and leasing company. Currently he serves as the Executive Director of the Business Development Corporation of Provo; a non-profit entity sponsored by Provo City's Economic and Redevelopment Agency. Provo's BDC provides early stage seed capital and functions as a small-business growth accelerator.
Business Development Corporation of Provo - Ideal Startup Investment
The BDC funds early stage companies and is looking for companies that have the potential of creating high-quality jobs in Provo.
What We Are Looking For
1. Founding Team The management team should consist of the key individuals that can execute and achieve the critical milestones to the next stage of funding. It should ideally have a CEO that can lead the team even if the individual is not the long term CEO. In any case the team should be committed to building a company, passionate, accomplished, work well together, and be well referenced.
2. Market The opportunity to build a company really starts with the attractiveness of the market opportunity. The size and growth rate are the most important metrics but there are other factors that are also important. The industry structure, barriers to entry, customer switching costs, competitive landscape, behavior of incumbents, etc. all play into the attractiveness of the market. Small markets seldom deliver the opportunity to build big companies. We prefer companies that can deliver revenues of $1M to $100M within a four to five year period.
3. Product/Service The product or service offered should be disruptive and unique and solve a customer problem or meet a need. The value propositions should be clear and the product should not require significant behavioral change on the part of the customer.
4. Business Model The business model is the means by which you can develop a profitable business in a repeatable manner. We prefer businesses with high growth potential and sustainable gross margins.
5. Competition The management team should appreciate the competitive landscape and understand both its present and future direct and indirect competitors. They should also have a grasp on the sustainable competitive advantage that it can build through various means.
6. The BDC is primarily interested in teams that wish to build a company that can independently thrive and have the potential of creating quality jobs in Provo.
Business Development Corporation of Provo Invests In These Industries
• Marketing / Advertising
• Business Products and Services
• Media and Entertainment
• Clean Technology
• Medical Devices and Equipment
• Computers and Peripherals
• Electronics / Instrumentation
• Networking and Equipment
• Internet / Web Services
Business Development Corporation of Provo Invests In Companies That Have Reached The Following Milestones
Concept Only - $1M in Trailing 12 Mo. Revenue
Concept OnlyProduct In DevelopmentPrototype ReadyFull Product Ready$500K in Trailing 12 Mo. Revenue$1M in Trailing 12 Mo. Revenue$3M in Trailing 12 Mo. Revenue$5M in Trailing 12 Mo. Revenue$10M in Trailing 12 Mo. Revenue$20M in Trailing 12 Mo. Revenue$50M in Trailing 12 Mo. RevenueMore than $50M in Trailing 12 Mo. RevenueMore than $50M in Trailing 12 Mo. Revenue ►◄ Concept Only
Business Development Corporation of Provo Invests In Companies With These Funding Needs
Pre-money Valuation: USD100,000 - USD2,500,000
Capital Seeking: USD10,000 - USD100,000
Previously Raised: USD10,000 - USD100,000
Business Development Corporation of Provo Expects Their Investments To Generate
Business Development Corporation of Provo Investment Portfolio
Invested in past 12 months: $0
Average investment size: $82,903
Average days until invested: 92
Applications in last 30 days: 0
Days average screening time: 103
Until first view: 11 hours
Member log ins in last 30 days: 11
Active members: 2
New members last 12 months: 0
Average views per deal: 2
Deal Funnel - Last 12 Months
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