The RealCo Seed Fund Program, founded in January at Geekdom, is helping business to business startups succeed.
“We are vested in their success,” said Teresa Evans, a partner in the RealCo Seed Fund Program.
The goal is to help the companies scale and get to a point where they can raise a Series A round of funding. The 15-month long program focuses on providing networking, capital, mentors, co-working space at Geekdom, access to investors and more. Startups in the program receive $100,000 in funding.
Michael Girdley, co-founder of Codeup and co-founder of Geekdom Fund, is heading up the RealCo team along with Evans, co-founder of San Antonio Science and associate director of the San Antonio Angel Network and Chris Saum, co-founder, and director of business development of MUD Geochemical.
In this episode of Ideas to Invoices, Saum and Evans discuss the attributes they look for in an entrepreneur, the path to success in the SeedCo program and more about the growing San Antonio technology industry.
RealCo’s portfolio companies include Dauber, a software company that lets construction companies monitor and dispatch trucks and drivers to job sites in real time, Mr. Presta, a microfinancing site aimed at the Latin America market, and Funnel.ai, a software system that harnesses social media to find sales leads for companies.
“We’re really excited about the idea and the idea is so important but we’re also really excited to work with these entrepreneurs who are leading their industries and all have amazing stories and lots of experience,” Evans said.
Startups can apply for the RealCo Seed Fund Program on Angellist and on its website and other funding sites. It accepts applications on a rolling basis, Saum said.
RealCo provides the structure and framework for its startups to tackle the task at hand, Evans said.
“We work to make sure they are working smarter, not harder,” she said.
Ultimately, RealCo seeks to get the startups to a level of traction or $1 million in recurring revenue on an annual basis and 30 percent month or month growth, Saum said.
RealCo is looking for entrepreneurs with startups tackling big ideas that seek to transform the industries they are working in, Saum said.
The average age of the entrepreneurs in its program is in the mid-30s, which is telling of the niche of business to business, Saum said.
For more on the RealCo Seed Fund Program, listen to the entire podcast and please subscribe, rate and review Ideas to Invoices on iTunes.