StartOut - Building and Supporting Gay and Lesbian Entrepreneurship

One of the most common concerns and interests of StartOut participant entrepreneurs is finding funding for their respective businesses. Some StartOut members are looking for small capital infusions to kickstart their business concept; others are looking for later-round financing for an established business to fund expansion.

Whether an LGBT entrepreneur is looking for seed capital or growth capital, StartOut’s Capital Connection Program is designed to bring together Venture Capitalists, Angel Investors, and other sources of funding with the StartOut community.

StartOut’s Capital Connection Program has several elements. The first is building and maintaining a list of VCs, Angels and other investors who have an interest in supporting entrepreneurship in the LGBT community. Second, StartOut is actively engaged in encouraging participation of these sources in StartOut activities – this includes attending our networking events, being part of the educational programming of StartOut University on issues related to funding, and participating as speakers as part of our Major Speakers Program.

Another element of the Capital Connection Program is our Mock Pitch Day. For Mock Pitch Day, selected startups are chosen to present their businesses before a panel of Venture Capitalists and Angel Investors. The panelists will engage with these startups just as they would any other company that was pitching to them for funding. After the presentation is over, the panelists will provide feedback on what the entrepreneur did well and what needed improvement. Mock Pitch Day is open to the public as well, in order for non-participating entrepreneurs to gain important tips and tricks on how to prepare for meetings with potential providers of capital.

Many investors, whether VC, Angel, Corporate or otherwise, have shown an interest in helping minority-owned businesses succeed. StartOut’s Capital Connection Program seeks to capitalize on this interest by bringing gay and lesbian-owned startups to the table, and to showcase the incredible business talents that members of the LGBT community have to offer.