Resolution 010-17RECORD OF RESOLUTIONS
Dayton Legal Blank, Inc., Form No. 30045
Resolution No. 10-17 Passed , 20
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO ENTER INTO AN AGREEMENT WITH REV1 VENTURES
WHEREAS, the City's dynamic local economy is the direct result of an
entrepreneurial spirit; and
WHEREAS, the City recognizes that in addition to its efforts to retain, expand
and attract business, the City must also set the conditions for new business,
technology and job creation; and
WHEREAS, Revl dentures is the lead agency responsible for accelerating
business growth, job creation and prosperity for the 15- county Central Ohio
region with a focus on operating a regional technology business incubator,
working with entrepreneurs and investors to develop and launch technology
start -up companies and growing young companies that will provide the jobs of
the future; and
WHEREAS, the City and Revi dentures must facilitate entrepreneurship in
order to increase the level of entrepreneurial activity and improve the chances
of establishing successful technology enterprises by honing their skills and
providing access to necessary tools, technical and financial resources, and
working proactively to enhance the local entrepreneurial environment; and
WHEREAS, it is the goal of both the City and Revl dentures to accelerate the
successful development of start -up and fledgling companies by providing
entrepreneurs with an array of targeted resources and services in order to
produce successful companies that will be financially viable, freestanding and
create quality jobs for the region; and
WHEREAS, Revl is designated as the lead agency in the Central Ohio region
responsible for the administration of grant funding from the Ohio Third Frontier
network and local public and private matching funds; and
WHEREAS, the City intends to continue its support of the regional effort to
create new companies, technologies and jobs by providing $200,000 in 20-1-Y as
matching funds for the entrepreneurial grant programs; and
WHEREAS, the City has previously supported the Entrepreneurial Signature
Grant Program and the Regional Capitalization Program since 200Y in
partnership with Revl, experiencing a nearly 30:1 return on investment in
Dublin -based companies; and
WHEREAS, the City and Revl desire to enter into an Agreement memorializing
the responsibilities and commitments of each party to efficiently and effectively
execute the program.
NOW, 74, EREFORE, BE IT RESOLVED by the Council of the City of Dublin, State of
Ohio, of the elected members concurring, that:
Section 1. City Council hereby authorizes the City Manager to execute the Agreement
with Revl Ventures, in the same or substantially the same form as attached hereto.
Section 2. The City commits to a total of $200,000 to be paid to Revl Ventures in
Fiscal Year 2017 as its local match towards grant programming and in exchange for
the services outlined in the Agreement to be executed by the City Manager.
RECORD OF RESOLUTIONS
Dayton Legal Blank, Inc., Form No. 30045
Resolution No. 10 -17
Passed Page 2 of 2
,20
Section 3. That this Resol n shall take effect and be in force on the earliest date
permitt by law.
Pa se this � Lt 1�l.LG� -Y , 2017.
7
ayor- Presidjpg Officer
ATTEST:
Clerk of Council
I
Office of the City Manager
5200 Emerald Parkway # Dublin, OH 43017-1090
,iTv ol"--- Dub in Ph.ne: 614-410-4400,o Fax: 614-410-4490
kcit
'0V
Too, Members of Dublin City Council
rom: Dana McDaniel, City Mana
Date: February 9, 2017
fill
milmoolmal
'-- : Resolution No. 10-17 — Revl Ventures Agreement
.. 111f�� : 4:
Resolution No. 10-17 authorizes the City Manager to enter into an Agreement with Revl Ventures.
This Agreement represents a continuation of services provided by Revl focused on new company,
technology and job creation in exchange for the City providing matching funds for the Third
Frontier grant funding program.
The State of Ohio's Third Frontier grant program is the primary funding mechanism to support this
effort. Revl is designated as the lead agency in the Central Ohio Region responsible for the
administration of the grant program. This program is funded by a combination of the State of Ohio
and local (private and public) matching funds. City Council has budgeted $200,000 in the City's
2017 Operating Budget as its local match.
The proposed agreement is consistent with previous Agreements approved by Dublin City Counc
and provides for the continuation of services to include the following: i
•
7
Staff recommends Council passage of Resolution No. 10-17. Please address any questions to
Colleen Gilger,
low
PSA
City of
Dublin
OHIO, USA
PROFESSIONAL SERVICES AGREEMENT
Rev1 Ventures Partner Program
This Services Agreement ( "Agreement ") is made and entered into and effective on this
day of 1' 2017 ( "Effective Date ") by and between the City of Dublin,
Ohio ( "Dublin "), an Ohio Municipal Corporation, with offices located at located at 5200
Emerald Parkway, Dublin, Ohio 43017 and Rev1 Ventures ( "Service Provider "), with an
office and principal place of business located at 1275 Kinnear Road, Columbus, Ohio 43212.
Recitals
WHEREAS, Dublin desires to engage Service Provider to perform the services as more fully
described in the attached Exhibit A (the "Services "); and
WHEREAS, Service Provider desires to perform the Services and desires to be so engaged.
NOW, THEREFORE, in consideration of the foregoing and of the covenants and agreements
herein contained, the parties, intending to be legally bound, agree as follows:
Provisions
I, Performance of the Services, Service Provider shall:
A. Perform the Services as set forth in Exhibit A.
B. Complete, sign and return the Ohio Public Employees Retirement System
C'OPERS') Independent Contractor Acknowledgement form.
C. Give prompt notice to Dublin should the Service Provider observe or otherwise
become aware of any fault or deficit in the project or any nonconformance with
the Agreement.
D. Remit to Dublin after the termination of this Agreement, all files and documents
pertaining to the project that have been obtained or produced including, but
not limited to, permits, licenses, applications, codes, drawings, site plans,
photographs and similar materials. Service Provider shall be entitled to retain
copies for the Service Provider's files.
PUBLIC WORKS 6555 Shier Rings Rd Dublin, Ohio 43016 phone 614.410.4600 fax 614.761.6506 dublinohiousa.gov
0127206.0607934 48497758- 4192v1
Iis Obfigati'ons of Dubfin, Dublin shall:
A. Assist the Service Provider by placing at its disposal all available information
pertinent to the Services for the project.
B. Use its best efforts to secure release of other data applicable to the project
held by others.
C. Make all necessary provisions to enter upon public and private property as
required to perform the Services.
D. Give prompt notice to the Service Provider should Dublin observe or otherwise
become aware of any fault or deficit in the project or any nonconformance with
the Agreement.
A. Service Provider shall be compensated in an amount not to exceed Two
Hundred Thousand Dollars ($200,000).
0127206.0607934 4849-7758-4192v] 2
include information describing the percentage • each phase of the work whic
has been completed, and a summary of billings and payments made to date.i
A 1-
VII. Insurance,,
A. The Service Provider shall secure and maintain, at his/her/its own expense,
errors and omissions insurance in an amount not less than One Million Dollars
($1,,000,000.00) per claim/annual aggregate to protect himself from any claim
0127206.0607934 4849-77.58-4192vi 3
arising out of the performance of professional services and caused by negligent
acts, omissions or negligent acts for which the Service Provider may be legally
negligent. The Service Provider shall maintain said coverage for the entire
contract period and for a minimum of one year after completion of the work
under the contract,
C. The Service Provider shall secure and maintain, at his/her own expense,
General Liability insurance in an amount not less than One Million Dollars
($1,000,000.00) per occurrence.
D. The Service Provider shall secure and maintain, at his/her/its own expense,
Property insurance for protection from claims or damages because of damage
to or destruction of property including loss of use resulting therefrom in an
amount not less than Five Hundred Thousand Dollars ($500,000.00).
E. Dublin shall be held harmless for any damage to the Service Provider's property
and/or equipment during the course of performance under the Contract.
A. Service Provider guarantees that the individuals employed by the Servic
working on this project are authorized to work in the United States. Th
Service Provider will upon demand provide Dublin with appropriat 11
documentation (Form 1-9) for any Service Provider employee performin9
services for Dublin.
0 2720. 607934 849 -77: 8 -41922 4
B. The Service Provider agrees to indemnify Dublin in accordance with Section VI
of the Agreement for any issue arising out of the Service Provider's hiring (Yr
retention of any individual who is not authorized to work in the United States.
D. The Service Provider shall receive Internal Revenue Service for 1099 from
Dublin for income tax reporting purposes.
X16 Assignment, Neither party may assign this Agreement without obtaining express-,
written consent from the other party prior to assignment.
No discrimination for reason of race, color, national origin, religion, sex,
genetic information, pregnancy,, age,, ancestry, military status, sexual
orientation, gender identity, marital status, veteran's status, or disability shall
be permitted or authorized by Dublin and/or Service Provider in connection
with the Services.
Nothing in this Agreement shall require the commission of any act contrary to
any law or any rules or regulations of any union, guild, or similar body having
jurisdiction over the Services of Service Provider.
0127206,0607934 4849-7758-4192vl
XVx Paragraph Headi*ngs. Paragraph headings are inserted in this Agreement
for convenience only and are not to be used in interpreting this Agreement.
[signatures appear on following page'l
0127206.0607934 4849-7758-41920 6
NA A
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
of 2017.
BY -0
Date
Colleen Git
Director of Economic Development
Date
Donna Goss
Director of Development
Date
Dana McDaniel, City Manager
REV1 VENTURES
BY:
Date
ITS
Jennifer D. Readler, Law -1-1.. D , i - rectol
0 127206.060793 )4 4849-'7758-4192vl 7
1 1
U04
I hereby certify that the funds required to meet the City's obligation, payment, or expenditure
under this Agreement have been lawfully appropriated or authorized for such purpose and
2re free from any obligation now outstanding
Angel L. Mumma / Director of Finance
X112720 x.0607 34 4849-7758-41922 l
E."X"OHIBIT A
Scope of Services
Servi"ces. Revl Ventures, as the manager of the Central Ohio Third Frontier Network
program will, in a partnership with the City, provide the following services:
a. Physl'cal Presence. Revl Ventures will establish a physical presence in the Dublin
Entrepreneurial Center ("DEC") and provide a designated lead contact from the Revl
Ventures team who is responsible for coordinating Revl Ventures services within the
Dublin community. Revl Ventures will be responsible for the cost of its own office(s) ani
all related expenses in the DEC.
b. Desi"gnated Lead's responsiffifolitt"es. The designated lead will have responsibility
for the following:
i. Provide Entrepreneurial development and outreach in Dublin and the counties of
Delaware, Morrow, Marion, Logan and Union and will serve as Revl Ventures'
11gateway" to the Northern and Western Central Ohio region.
Identify prospective entrepreneurial start-up companies best suited for program and
capital assistance with the assistance of the Rev1 Ventures team
Coordinate and communicate with both City Economic Development staff and its
associated consulting team regarding Dublin-focused programming.
iv. Attend, at a minimum, a monthly staff and consultant meeting and semi- monthly
DEC coordination meeting, unless otherwise determined by the parties.
v. Provide input to and when possible and appropriate provide resources in support of
DEC programming, as determined by Revl Ventures.
vi. Provide the City a Qual-terly Activity Report summarizing the type and amount of
activity in Dublin, where the fourth quarter report also reflects a year-end summa
The format and specifics of the content to be included in the report will be mutuall
agreed upon between the City and Revl Ventures. I
0127-9).06.0607934 4849-7758-4192vl
d. Coaching and mentoring. Revl Ventures will provide to promising entrepreneurs and
high-growth companies access to its experienced and successful team of in-house
mentors, including: CFO in residence, CMO in residence, Customer Acquisition expert,
technology commercialization experts and startup coaches in order to create high-return
commercialization ventures and take promising ideas to market.
e. First Connect Network. Startups with advisors raise 7X more money and have 3.5X
better user growth, according to the Startup Genorne Project. Revl will provide access
its industry-leading network to support our regions' high-growth startups in these four
critical areas:
In addition, Revl Ventures will also work to recruit Dublin companies and individuals to
provide services as part of the First Connect Network.
9. Access to capital. Through its coaching and mentoring services, which are the entry
point to all Revl Ventures funding sources, the City and regional companies will have local
accessto:
Concept Fund: Equity investments to assist capital efficient companies with marke,;
entry and to validate early tech ideas based on intellectual property (IP), validate IP,,
0127206.0607934 4849-7758-4192vI
10
build prototypes, complete marketing studies, etc., for the most promisin
opportunities. I
Catalyst Fund: Seed stage convertible debt funding for the most promising I
opportunities. With each investment, RevI Ventures will assist the company to reach th
goals of growth and follow-on, institutional or angel funding. I
Ohio Tech Angel Funds,,, local angel funds managed by Revl Ventures which mak
equity 'Investments in Ohio tech startups.
iv. X Squared Angel Fund: local angel funds managed by Revl Ventures which focuses
on companies with at least one woman at the C level who owns significant equity in
the company.
v. Revl Ventures and SBDC expertise and access to SBA loan opportunities for small
businesses.
Acknowledgement, RevI Ventures agrees to acknowledge the City in its sponsorship
opportunities, website and other opportunities as a Third Frontier Partner.
Central Ohio Third Frontier contribution, The City agrees to pay to RevI Ventures
$200,000 in matching funds in 2017.
0127206.06079334 4849-7758-41920
11
r
rev ventures
forCOLUMM)S
DUBLIN PARTNERSHIP REPORT
REVI VENTURES - Q4 2016
�IVA=1e&TIl41A
Rev1 is a seed -stage venture development
organization that combines investment capital
and strategic services to help entrepreneurs build
products people want and companies that succeed.
Our seasoned, data - driven team delivers early
market validation for startups, helping them lay
the foundation for scalable growth with the skills
to evolve their product, sell to customers, and
build the right team. Rev1 manages a continuum
of investment support from corporate, community,
and innovation partners, as well as the Ohio Third
Frontier. Rev1 was named the Most Active VC in
Ohio in 2016 by CB Insights.
BUSINESS METRICS
41° Quarter (October 1, 2016 - December 31, 2016)
3
0
LL
m
v
D
Y
Y
U
Q
Y
v
E
v
m
0
0
Qualified Leads
First Meetings
Companies Engaged
Positioned for Funding
Rev1 Ventures Investment
Total
External Investors
Angel
Corporate /Private
Founder Capital
Friends /Family
OTAF Member
Venture Capital
State Sources
Total
TOTAL INVESTMENT
43
21
6
18
$2,813,569
$2,435,582
$1,447,941
Id:Z•Zc717_1u1.1
Rev1's Startup Program helps entrepreneurs and
corporate innovation teams identify, build and scale
disruptive products that are redefining industries.
Leveraging Rev1's seasoned, data - driven team, the
program delivers a strong foundation for innovators,
with the skills to validate their product, build a
viable business, sell to customers, hire the right
team, and access growth capital. Companies that
take advantage of the breadth of the program have
a stronger foundation for growth, power through
milestones more efficiently and are more capital
efficient.
First Connect services delivered in Q4:
Experts: Delivered $223,274 in expert services
(legal, accounting, development, marketing, etc.)
provided by the central Ohio community.
Advisors: More than 95 hours of time delivered
from national experts.
Customer Acquisition: 11 qualified opportunities
accessed for the portfolio and $240,000 in
revenue closed.
Talent: Promoted 51 job openings.
In Q4, Rev1 launched two pilot Customer Acquisition
projects that matched an outside consulting firm
with two of our portfolio companies. The results
from these pilots will help us in our goal to create
highly scalable customer acquisition services that
accelerate our clients' business model validation and
market entry by providing qualified opportunities
on a national level. Both firms provided a discount
to our clients, and Rev1 shared 50% of the remaining
cost.
$617,121
Sapper Consulting + T -Pro Solutions: Sapper
$119,985
Consulting provides qualified 1st meeting
$444,242
scheduling via email campaigns. They worked
with T -Pro for two months. T -Pro found the
$7,998,227
engagement to be very educational but will not
$1,200,000
continue with Sapper as they have an internal
$14,263,098
employee who is tasked with this activity.
• Evolve Growth + Ambassador Software
$17,076,667
Works: Evolve Growth provides sales strategy
consulting, management, and inside sales. The
goal with this engagement was to set qualified
1st meetings for Ambassador Software Works.
They worked with Ambassador for two months
and Ambassador will continue the service for a
minimum of three months going forward.
rev ventures
for COLUMBUS
We will continue to offer engagements with both consulting firms to our portfolio companies to further
prove out the program, sharing the discounted cost.
MOMENTUM
Portfolio Buzz
Trendshift Acquires Health Data Intelligence - Yahoo Finance & Venture Beat
Assurex: Gene Rush: Investors of All Types Spot Opportunity in Genomics - CB Insights
Fast 50 Rankings Revealed (Updox) - Columbus Business First
Prevedere Makes List of Enterprise Startups that Will Boom in 2017 - Business Insider
Could a Single Mistake Cost 35% of Your Holiday Customers? (Refill) - Forbes
Columbus e- Commerce Software Maker Raises Nearly $2M (nChannel) - Columbus Business First
Clarivoy's Proprietary TV Analytics Solution Wins DrivingSales 2016 Innovation Cup - EIN News
Digital Ticketing, Virtual Reality Sensors Land Job Creation Loans from the Ohio Third Frontier
(Ticket Fire) - Columbus Business First
1 -Hour Alcohol Delivery Service Rebrands as Refill, Starts Courting Bars and Restaurants - Columbus
Business First
Columbus Chamber cbuzz: Dan Fronczak of Healthy Roster - Metropreneur
Jifiti - Columbus CEO
Rev1 Buzz
Here's Why Rev1's Startup Incubator is Hosting a $1.513 Company - Columbus Business First
The Great Midwestern Tech Startup Surge - Entrepreneur
Rev1 Ventures Reloaded With Money From Ohio Third Frontier, Civic, and Corporate Backers - Columbus
Business First
Local Tech Efforts Receive Millions in Funding - The Columbus Dispatch
6 Sales Myths Debunked - American Express
Paul Singh's Tech Tour Visits Columbus - Columbus Business First
Rev1 Ventures Launches Entrepreneur Giving Fund to Cultivate Culture of Giving Back - PR Web
A VC Puts on His Equity Crowdfunding Hat - Young Upstarts
lou
Dublin 2016 Quarter 4 Impacts
GENERAL DEAL FLOW
JANUARY 1, 2016 - DECEMBER 31, 2016
DEAL FLOW
Investment by Dublin in Rev1
INQUIRIES BY INDUSTRY
QUALIFIED LEADS
10
IT 6
FIRST MEETINGS
8
OTHER 5
CLIENTS
2
$2,144,044
POSITIONED FOR FUNDING
2
$1,299,998
EXPERT SERVICES
AMOUNT
INVOICED Concept Academy
ACCOUNTING
Other Grant or Debt
$15,136 Dublin Rev1
LEGAL
Total
$8,989 Start -Ups Completed 6 127
MARKETING
Dublin Companies Performance
$465 Became Rev1 Client 16.7% 20.5%
HR /RECRUITING
Revenue Generated
$16,250 Raised by Grads - $530,000
TOTAL
Jobs
$40,840
INVESTMENT ACTIVITY
INVESTMENTS RETURN ON INVESTMENT
January 1, 2016 - December 31, 2016 Investments Made Over All Time
Rev1 Investment
Total
Externallnvestors
Angel - Group
Angel - Individual
Corporate
OTAF Member
Venture Capital
Total External
TOTAL INVESTMENT
Investment by Dublin in Rev1
$1,000,000
Total
$2,000,000
Investments in Dublin Companies
$650,000
Rev1 Ventures
$2,144,044
$380,009
OTAF
$1,299,998
$75,000
Other Investments
$50,913,211
$50,000
Other Grant or Debt
$5,514,355
$150,000
Total
$59,871,608
$1,305,009
Dublin Companies Performance
$2,305,009
Revenue Generated
$46,588,752
Jobs
124
TOTAL INVESTMENT + REVENUE
$106,460,360
TOTALLEVERAGE
53:1
INVESTMENT CAPITAL LEVERAGE
30:1
lou
Dublin 2016 Quarter 4 Impacts
0
COMPANY AND PROGRAM UPDATES
X.311 :1_ 1. V L I J U BY-174 r d ;9
Brand Thunder interactive themes are available for some of the most recognizable brands
in the world. With Brand Thunder, you can engage your audience every time they browse
the web. In Q4 the company leveraged a strategic partnership with VisiCom to expand its
business. Brand Thunder can now sell directly to companies, in addition to connecting with
clients online for branding their webpages.
CropZIIIa provides farm management and productivity software that helps farmers create a
master plan for their fields, making the farm more profitable. In Q4 the company:
Moved into the DEC in Dublin.
Raised $BOOK in seed funding from a group of individuals and corporate partners.
The funds will be used to expand CropZilla's sales and marketing efforts following the
successful roll -out of their farm operations /decision support software package during
2016.
Healthy Roster's product, Virtual Athletic Trainer, is an app and injury communications
platform designed to give parents peace of mind when their child first suffers a sports injury
and afterward. In Q4 the company received an investment from Cincinnati -based Queen City
Angels. The company plans to use the investment to scale its sales efforts and to continue
product development.
Innovator Health is a telehealth solution connecting major hospital hubs to smaller rural
hospitals so that displaced patients can have better access to specialists and expert doctors.
Rev1 engaged with IH in October 2016 and has since connected the founder, Darren Sommer,
to advisor Wes Strickling through our First Connect Advisors program. Wes is taking on
greater and greater roles with the company and is likely to join them full time. Innovator
Health is also in the process of closing deals with several hospital systems around the U.S.
Rev1 is hoping to position IH for investment in the next 30 -45 days.
Updox provides a fully- integrated communications platform for independent physician
practices, offering several features including: electronic communication, patient portal,
document management, and EHR /EM integration. In Q4 the company announced the renewal
of its full accreditation with the Direct Trusted Agent Accreditation Program (DTAAP) as a
Health Information Service Provider /Registration Authority /Certificate Authority (HISP /RA/
CA) from DirectTrust.org and the Electronic Healthcare Network Accreditation Commission
( EHNAC). Accreditation by EHNAC certifies that an organization's direct secure messaging
services meet HIPAA and HITECH requirements, industry standards, and Direct Project
regulations.
COMMUNITY ENGAGAMENT
Rev1 provided speakers and content for entrepreneurial education, and 1 -1 coaching at the
DEC's monthly networking events. Following are the topics of the sessions lead by Rev1:
Event: Creating a Minimally Viable Product
Date: October 20, 2016
Program: Customers are at the center of every successful product and high - growth company.
Understanding what core features are needed to satisfy customers is the starting point. Rev1
Ventures' Matt Veryser led a hands -on session that helped entrepreneurs to:
Map out their user experience;
Determine core "features" to build into their first MVP: and
Understand how to iterate on their product, leveraging market feedback.
lou
Dublin 2016 Quarter 4 Impacts
0
Speaker: Matt Veryser is Director, Venture Acceleration at Rev1 Ventures. Matt works with
the earliest stage startups to help them validate (or disprove) market assumptions. He helps
clients save time and money by getting the right solution in front of the right customers. He
comes from a family of entrepreneurs —his dad, uncle, and both grandfathers — and has a BS
in Finance from the University of Dayton.
Event: Healthy Roster Building a Startup by Building Sales
Date: November 17, 2016
Program: Interactive Q &A with Nathan Heerdt, serial entrepreneur and co- founder of Health
Roster. Healthy Roster is a growing Columbus startup that connects parents of kids who are
injured in youth sports quickly and easily with certified athletic trainers from local hospitals
they know and trust.
Tips and Takeaways:
How to narrow the focus to the markets most likely to yield first customers.
How Health Roster founders figured out what it takes to sell their solution (who to call on,
what to say, how long it takes from first contact to close) by rolling up their sleeves and
doing it themselves.
The "smarts" of developing a sales approach based on benefits, not features: "We give
parents peace of mind and healthcare providers a direct line to new patients."
How to improve the efficiency of the startup's sales cycle and scale it up.
Speaker: Nathan Heerdt, Healthy Roster co- founder and CEO, and his co- founders Shawn
Price, CTO, and Dan Fronczak, president, were part of the turn - around team at Digital Scout.
In just three years, the team sold the company for a 5X multiple. Together this team knows
how to build and scale an app company in the youth sports space.
Charles Hill, Rev1 director of community outreach, leads Rev1's efforts to leverage the region's
willingness to support entrepreneurs through cohesive partnerships. He also engages to
expand inclusive entrepreneurship across our region.
Event: Inclusive Entrepreneurship CBUS Style
Date: December 15, 2016
Program: Companies with more diverse leaders and teams are more successful and create
better solutions to problems. The program provided insights for those thinking about
diversifying their company and /or looking to connect with local resources.
Speakers:
Charles Hill, Director of Community Outreach, moderator: In his role with Rev1, Charles i�
focused on connecting the diverse organizations in the region to support startups.
<BLK Hack >, whose mission it is to fill the deficit of black minorities in the technical field.
i.c.stars I *Columbus, a powerhouse that gives bright, committed young adults who face
bleak futures, the opportunity to develop advanced IT skills.
Bunker Labs - Columbus, the first expansion location of this national network of
entrepreneurs founded by military veterans to help other veterans start and grow
busineses.
lou
Dublin 2016 Quarter 4 Impacts
DEAL FLOW TERMS
DEAL FLOW: all new business ventures that are submitted to Rev1 Ventures.
QUALIFIED LEADS: opportunities that come through deal flow that align with our
commitment to serve companies that are within our region, scalable, and tech enabled.
FIRST MEETINGS: the initial meeting held with entrepreneurs for Rev1 Ventures to
vet out the business model. The main topics covered in the first meeting generally
revolve around the problem and solution a business is addressing, the market, revenue
potential, competitors, milestones /goals and needs moving forward.
COMPANIES ENGAGED: startup ventures with a signed engagement letter with Rev1
Ventures and using Rev1 Ventures resources.
INVESTMENT TERMS
ANGEL GROUPS: investment funds that are pooled by a collection of high net -worth
angel investors. These groups all form a part of the Angel Capital Association, a
national network of angel groups.
INDIVIDUAL ANGEL INVESTORS: high net -worth individuals who meet investing
criteria established by the Securities and Exchange Commission. Currently, the SEC
defines an angel investor as someone who, excluding the value of their residence, has a
net worth of over $1 million or has an annual income over $200,000.
OTAF MEMBERS: part of the Ohio TechAngel Funds, an angel fund operated by Rev1
Ventures. More than 340 high net -worth accredited investors contribute to the funds,
which invest in high potential IT, software, bioscience, medical device, and advanced
material startups in Ohio.
VENTURE CAPITAL: investment that comes from individual investors, investment
banks, venture capital firms or other entities that pool investments. Whereas the Ohio
TechAngel Funds invests in early -stage companies, venture capital is often secured
once companies have started to attain customers and revenue. Venture capital, like
angel investment, is aimed at high - potential, high - growth companies.