Capital ReadinessDESCRIPTION
The HTR Capital Readiness Program provides entrepreneurs with the best foundation, support, and guidance when preparing to raise capital to grow their business. To effectively raise capital, HTR staff works closely with the company to identify the right source and scope of funding needed and assists management in developing a clear message that will appeal to the right investors.
Due to the large effort required to successfully execute this task, this premium service is offered to select companies only, requiring a commitment on the part of the client's management to work closely with our staff on this hands-on engagement, in addition to completing the prerequisite step of Company Assessment.
PROGRAM FEATURES
Non-Resident Client Services
Your company will receive assistance normally reserved for resident Clients of HTR's high tech business incubator, the Lennox Technology Enterprise Center (TEC), including: - Ongoing review and critique of your company's Business Plan
- Ad-Hoc counseling from HTR staff and Entrepreneurs-in-Residence
- Up to two hours per month of assistance in drafting specific public relations releases
- Participation in TEC's "Infobytes" monthly luncheon series
- Participation in TEC's "CEO Roundtable" monthly luncheon series
- Eligibility to receive additional consulting services, exceeding the services described above, at a preferred rate to HTR's standard hourly fees
Capital Services
PREREQUISITE
Successful completion of HTR's Company Assessment program, which includes:
Review and critique of the company's existing business plan Validation of the target market An analysis of the company's Strengths, Weaknesses, Opportunities and Threats in pursuing the targeted opportunity
Your company will receive a report detailing the outcomes of HTR's Company Assessment. The results of the Assessment will determine the compatibility of HTR's offering to the capital raising opportunity at hand.
Cost: The Company Assessment program is priced at $3,000.
CONSIDERATION
Non-Resident Client Services Fee
The fee for engaging the non-resident Client Services is $875 per calendar quarter or $3,000 annually if paid upfront in a lump sum. Under this Program, the company will engage a minimum of four consecutive calendar quarters of Readiness Services. The fee for the Readiness Services may be used as a credit toward rent for companies that are, or become, TEC Resident Clients.
Capital Services Fee
Upon successfully raising a minimum, pre-determined amount of capital per funding round, the company will pay HTR a royalty equal to 2% of its revenues, up to a pre-determined limit. The royalty limit will vary according to the specifics of each client engagement, but will typically range from $35,000 to $75,000 per funding round.
Policy Notice
HTR is a not-for-profit private economc development support organization dedicated to assisting technology-based economic development efforts in the Finger Lakes Region. HTR offers and covers the costs of its programs and services through broad funding sources including federal, state and local government agencies, private donations, membership fees and nominal service fees. HTR's service and success fees are not designed to generate profit or cover the actual cost of the services rendered but rather to earn some recovery of funds for reinvestment in its economic development mission and to the benefit of other firms in the region.
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