Many startups face similar struggles as they work to define their own brand, develop products and secure investment. But as one Milwaukee investor points out, not all entrepreneurs have access to the same resources and support systems.
Dana Guthrie is the managing director and founder of Alchemy Angel Investors, as well as a product manager for Johnson Controls. She moved to Milwaukee from St. Louis about 13 years ago to attend the Milwaukee School of Engineering.
As she progressed through her education, Guthrie began researching the process for launching and growing companies. That eventually led her to create Alchemy Angel Investors, but only after she realized the deck wasn’t exactly stacked in her favor.
“I learned about this thing called the friends and family round, and this was one of the biggest things that stood out to me,” Guthrie (pictured here) said at this week’s Wisconsin Entrepreneurs’ Conference in Milwaukee.
According to her, the average ‘friends and family’ early-stage investment round brings in between $50,000 and $100,000. Startups often use those funds to jumpstart some revenue, so they can obtain additional money from venture capital firms and continue growing. Read the full story here.