Elevating a Sequence A is difficult for a founder. Particularly when you think about they’re often doing it for the primary time, whereas the VCs on the opposite facet of the desk are primarily skilled negotiators getting pitched and doing offers every single day.
So to assist in giving founders a leg up Justin Kan’s new authorized tech startup Atrium is launching a program to assist founders develop into higher fundraisers.
Known as Atrium Academy, the free two-day program pairs new founders with seasoned entrepreneurs and VCs to study finest recommendations on negotiation, constructing demand and a story and elevating basically. It’s nearly like YC’s startup faculty, however as a substitute of bringing in enterprising college students and convincing them to begin an organization Atrium is bringing in established corporations and serving to them increase a Sequence A or first main spherical of funding.
The startup ran a trial program final month and had 130 purposes that had been whittled right down to 12 founders from around the globe who flew in for this system. Whereas there’s no set variety of what number of this system will settle for, Kan made it clear that founders needed to be working profitable corporations on observe to quickly increase a spherical.
Accepted founders had been in a position to spend time in workplace hours with VCs from corporations like Accel, Normal Catalyst and Initialized Capital and in addition see shows and hearth talks from entrepreneurs who’ve had success elevating Sequence A rounds.
Startups additionally had been in a position to meet with Atrium’s legal professionals for counseling and authorized preparation particularly for the financing course of. All attendees additionally obtain discounted authorized providers in the event that they select to make use of Atrium as their legislation agency. In fact some could say that that is all only a lead era tactic to get extra corporations utilizing Atrium as their lawyer once they resolve to boost a Sequence A.
Kan didn’t completely dismiss this concept – as a substitute saying that it’s extra realistically “very oblique lead era”. Actually Atrium received’t be capable to enroll all of those corporations – some could have already got legal professionals from a seed spherical, and different could by no means find yourself elevating or simply resolve to not use Atrium. However Kan sees this system as a good way to construct goodwill for his firm whereas on the identical time getting to assist the startup ecosystem basically, no matter how a lot direct payback it ends in.
Atrium plans on internet hosting 4 batches a yr going ahead, with the primary being January 13th, 2018. Functions are open now.