
Start-Up Silicon Device Company
RESULTS: Raised $1.5MM of bridge and refined sustaining capital needs ($5MM). Delivered “first article silicon,” proving the viability of a micro-electro-mechanical device for heating, ventilation, and air conditioning (HVAC) markets. Defined job requirements and selected two (2) critical team members to demonstrate the authenticity of the business plan and generate enthusiasm for the product. Identified qualifications for longer-term CEO candidates, led job description effort and assisted in the interview process for CEO recruitment.
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CHALLENGE: Raise early-stage, proof of concept capital for the micro-electro-mechanical (MEMs) device and prove application in multiple markets. The company lacked resources (capital and staff) to accomplish near-term goals.
ACTIONS: Created and vetted business plan with market estimates and commensurate budgets. Defined go-to-market applications and partners. Assisted with the execution of the first test customer (GM-Delco). Construct and gain board approval for a $1MM bridge capital plan. Normalize relationships between founders and board.