Awesome Jonathon Perrelli: Fools Are A Necessary Part Of The Economy

Here is an awesome inspirational message by Jonathon Perrelli with Fortify.vc to those who are as fool as me, currently struggling to find employment, and have at least 10% entrepreneurial DNA. Given our current economy and unemployment rate, I don’t think I need to remind you that most of the existing successful companies including Google, Microsoft, and GE launched their ventures during the poor economy. So, his message below is SIMPLEMENTE PERFCTO!

Message to Fools:
“If you have a day job, and you love it, shout hooray! If you woke up and realized that you are being pimped by an evil corporation and not being treated fairly, or you are bored out of your mind, or too smart to be locked down, get up and grab your red stapler and walk the F out the door. Fools are a necessary part of the economy and I too have been a fool more than once in my career, so I too “get” that it is quite difficult to leave the day job, etc. So either explore your business as a hobby (but not for too long) or live vicariously through your Founder and Farmer friends. Turn your dream into an innovative product or service. Be bold, but be careful. Know your personal financial situation and speak with others who have made the jump from Fool to Founder, prior to grabbing your stapler”  Jonathon Perrelli with Fortify.vc.   Read more of this post

Types of People received Funding this year



CB Insights
, a corporate information and research firm, released a report this week listing the types of founders who have received funding this year so far – in terms of their age, race, gender and education. Read more of this post

DC Streetcar Project Saved by the Bell



Beginning last week, there has been mixed messages flying around DC about possibility of no funding or low funding for the DC Streetcars we covered earlier this month.

Just yesterday I heard the D.C. Council Chairman Vincent Gray’s budget proposal axed the majority of funding for the planned H Street/Benning Rd. streetcar line.

Later on the night, Council supporters and DDOT officials went to sleep with the understanding that the final budget negotiations had preserved the streetcar.

I just saw this on Twitter feed from the council member, Jim Graham:

“After careful deliberations and explanations and conversations, another $47 million was found to fund the streetcars.

Shortly after I saw this from the Washington Post reporter Mike DeBonis‘s Twitter machine: Read more of this post

State of the VC Scene


by Elias Shams
On the heels of MAVA’s Capital Connection next week, here is another event you may want to attend. It is the annual Tech Venture Center (TVC) tradition hosted by Deloitte later this month titled “State of the VC Scene.”

You will hear from several active, local VCs who will have some interesting market observations to share, and hopefully, positive outlooks for the future of the VC and entrepreneur market!! Read more of this post

New Federal Funding Opportunity for Teen Pregnancy Prevention Programs


by Elias Shams
Wanted to pass the word on about a new discretionary grant opportunity (and funding) through the U.S. Department of Health and Human Services, Office of Adolescent Health.  I heard the deadlines were postponed. So, you may want to double check on both.

Tier 1: $75 million – 150 Cooperative Agreements for Replication of Evidenced Based Teen Pregnancy Prevention Programs. Letter on Intent due May 3rd, Proposal due June 1st

Tier 2: $10-$25 million – 45 Cooperative Agreements for research and demonstration grants to develop, replicate, refine, and test additional models and innovative strategies for preventing teenage pregnancy. Letter of intent due May 10th and proposals due June 8th.

Announcements and application kits

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Economic Recovery Not Far Way


by Elias Shams
As a serial entrepreneur, I’m excited to share some data I just read on Dow Jones. Looks to me  economic recovery – in particular in tech sector, is not that far way. As private equity investment has been going down, venture capital funding has been going up:

Throughout 2009, funds for early-stage companies and multi-stage funds saw significant growth — optimistic signs heralding the return of venture capital. Funds fluctuated from quarter to quarter last year, but the year still ended strongly and Q1 2010 is robust compared to the beginning of last year. see more…

The Washington DC based Startup, HelloWallet Raises $3.6M


by Elias Shams

HelloWallet, the DC-based personal finance website with 3.5 million user community launched in March has raised $3.6 million in its first round of funding, led by Grotech Ventures and followed by AOL co-founder Steve Case and his wife Jean. About $1 per user :-)

Not sure how they managed to get 3.5 million users in three month with no funding. If the number is true, I guess they have the potential to become even bigger than Facebook and Twitter someday :-) see more…

AOL Beginning To Be Saved by Googlers?


by
Elias Shams
I have been following AOL on and off since their new CEO, the former Googler, Tim Armstrong took over a year go. It does look like he has been kicking ass and taking names since his take over! The company which has been doubling down on its own local efforts past several months, is now setting up a $10 million venture capital fund to invest in the local space – specifically “local content” services. The new venture fund headed by Jon Brod which operates as part of AOL Ventures will be targeting early-stage startups developing complementary technology and services with a local focus.

Did you hear that DC and NYC startups in “local content”  space? read more…

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