tag:blogger.com,1999:blog-5724930802169463212.post5002686418147983051..comments2022-07-04T09:03:16.720-07:00Comments on Bill Fulton, former Mayor of Ventura: Let's Make Ventura "One Big Accelerator"Bill Fultonhttp://www.blogger.com/profile/10833863247431014699noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5724930802169463212.post-30218317709919454902011-11-17T11:29:13.875-08:002011-11-17T11:29:13.875-08:00It sounds like you got a lot of positive reinforce...It sounds like you got a lot of positive reinforcement for the V2TC initiative you created in Ventura. I wish our state and national leaders would be as willing to invest in promising, yet politically risky, long-term outcomes as you and other Ventura council members have been. Thank you for actually leading!<br /><br />One idea I have that might further accelerate the creation of high-tech startups in Ventura (that also stay in Ventura), is to provide additional financing alternatives. Currently there are some funding opportunities with regional venture capitalists and angel investors, and even some assistance from the City through the Economic Development Collaborative (EDC). These sources are based on financial models that seek a return on investment within 3-5 years and often result in the sale of the company to pay off portfolio investors before the hiring potential of the business and the full benefit to the local community has been realized. Unfortunately, the sale of a Ventura start-up may mean loosing the jobs gained during this development period and future jobs as the company and/or its functions are moved elsewhere.<br /><br />A possible alternative to these sources of funding would be to create a financial services collaborative where local venture capitalists and angels, banks, insurance companies, financial advisers, accountants, and EDC managers form a funding and services pool specifically for early stage Ventura start-ups. The mission would be to provide quick access to low-interest rate loans that most local banks (even SBA affiliates) operating alone would not offer to businesses with no revenue history or assets. This approach would not only help keep the return on investments, growing corporate assets, jobs, and taxes in Ventura, but also potentially cut 6 months off the usual time it takes to find venture funding and for founders to really begin the work they need to do to create a viable business.<br /><br />We have the climate (beach, weather, City incubator, universities), the culture (creative, well-educated, risk-reward optimists), and we are working on the critical mass of startups to sustain growth. Now all we need is a new kind of “startup bank” for Ventura whose mission is to provide a financial foundation for your vision. <br /><br />David Lantrip, a Ventura serial entrepreneurDavid Lantriphttp://www.linkedin.com/in/davidblantripnoreply@blogger.comtag:blogger.com,1999:blog-5724930802169463212.post-50756148367735977142011-11-15T11:37:19.108-08:002011-11-15T11:37:19.108-08:00I agree that it's too bad we didn't get th...I agree that it's too bad we didn't get the Cal State. But that's water under the bridge -- 20 years ago. Time to work with the assets we have now!Bill Fultonhttps://www.blogger.com/profile/10833863247431014699noreply@blogger.comtag:blogger.com,1999:blog-5724930802169463212.post-38051396862869364502011-11-14T18:16:35.652-08:002011-11-14T18:16:35.652-08:00Too bad Ventura turned down Cal State-probably the...Too bad Ventura turned down Cal State-probably the only city to ever fight to keep a university out.Anonymousnoreply@blogger.com