Blog

Mention the term “business plan” and the image that likely comes to mind is a thick document generated by a business consultant for you to give to a banker or investor and then forget about. But since these days everyone worships at the altar of the lean startup, it’s common knowledge that a business plan is “old school” and completely useless. All you need is a slide deck and a great team, right? Wrong!

Good news for startups building from within New York State! New York State Small Business Credit Initiative (SSBCI) and it's venture capital management arm, NY Ventures is providing support and capital of $30 million for it's Pre-seed and Seed Matching Fund Program to help early stage startups who are registered in New York. The program will offer early-stage businesses growth assistance starting from $50,000 and up to $250,000 for every matching dollar investment from a private sector investor (there must be at least $1 of private sector investment for every $1 NY Ventures invests). The program is also aiming to help businesses who are typically socially and economically disadvantaged and do not normally have access to this type of support.

So, you’ve got a great idea for a startup. But there’s just one catch; Your startup requires machine learning (ML), and to you, that feels a bit, well, overwhelming. We’ve got some great news for you! ML doesn’t have to be either complicated or time-consuming. In fact, there are a number of ML SaaS platforms on the market today that are intentionally designed to do the heavy lifting for you.

Any company incorporated in the State of Delaware, regardless of ownership, must file every year by March 1st, or receive an automatic penalty. Learn more about the Delaware Franchise Tax.

Convertible notes are a great tool for venture financing. They are primarily used for early-stage financings, but they are also a good solution for a bridge round when a company isn’t quite ready for the next equity financing round. The actual mechanics of converting convertible notes (in other words – calculating conversion shares) is not a simple task and requires great care.