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100K Ventures: A Discussion with Entrepreneurial Students

My most recent attempt to get venture capitalist funding was here in Flint at 100K Ventures, a Flint Accelerator. I had applied to other accelerators, but I was thrilled to hear of one here in Flint! Surely, they would be interested that one of their own would be trying to improve our healthcare system.

 

I made my appointment to give them my pitch. When I got to the office in downtown Flint, I was so impressed! I felt like I was in Silicon Valley or the Google offices…it was laid out with a coffee shop in the front and signs of all the companies they have started in our area. There were open work areas all around the second-floor balcony. The main desk was a display of development stages as an idea went through the program marked by silver circles.

 

Functional and brilliant! 

 

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A business college student met with me, and I explained that I already had a business plan and a marketing plan, and all I wanted was to see if I could pitch the venture capitalist (the people on the top floor). She said I needed to go through the whole process (and pay a small fee) to see if I qualified. Well, ok, let’s do it.


I made a follow-up appointment to meet with a marketing team, consisting of three college students (about 20 years old) and one older student who was probably 32. I passionately explained my idea, and they were helpful, but they didn’t seem to get it.  


I was picking up this vibe and asked them, “what are your concerns about your healthcare?” Both of the younger people said, “I’m covered under my parent’s insurance, and I don’t go to the doctor really, so I don’t have any concerns.”


UGG…I was in trouble. The other gentleman asked how my program could help his mother, who had a chronic health problem. This question was my savior. He could at least recognize the problem with our health care system. I got an enjoyable experience and service from the team, but I didn’t qualify to meet the Venture Capitalist team upstairs. 


Every experience teaches us how better to reach our target market, which is 30-60-year-old women who are trying to keep them and their families healthy. But I also realized that I need to find a way to reach the Millennials. 


Anyway, I did get to see Integrity on the board!

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