Dear [with]tv supporter,
Here is the September Update. So much has happened since our last update. While none of us will be happy until the day we actually launch our channel, myself included, I must tell you in all honesty that we are closer than ever to that day. While it may seem a long time in coming, and I agree, it certainly is, we must recognize the tremendous struggle we have when one considers all the factors aligned against us.
The one constant in all of this however, has been, and remains, that everyone with whom we discuss and explain [with]tv to responds positively. They all accept our premise and agree with our mission no matter whether they are in the disability community, investment, business, or media world.
We continue to add supporters. I urge everyone to continue to visit our Blog, read our articles, post your own, and to visit our support letter and register your support. The more of your friends and relatives, etc. you can get to do so, the better off we will be.
Mitch, Anna, and I have been holding meetings with a CT based law firm regarding serving as our corporate counsel. We anticipate coming to a resolution soon. We are also in conversation with two CT based accounting firms about providing us with those services as well.
We are now beginning our full-scale search for investment in [with]tv. This is easily the most difficult aspect of our development and the most pivotal. Without funding, obviously, we can go no further. With funding, we cannot fail.
I am beginning a series of meetings with Jeff Block, a financial advisor recommended to us by our friends Kathy Slater and Liddy Karter at our incubator IPA. I will be meeting soon with Mr. Matt Nemerson of the CT Technology Council. We will be making additional contacts with CT Innovations and CVG. These are organizations all dedicated to assisting start up companies like [with]tv meet their needs to succeed.
This meeting with Mr. Block and others will examine CT State tax credits, R&D Credits, and other important issues that will determine the class of corporation we will become.
The key now though is funding. We have responded to one group of private investors who requested a proposal from us with our entire five-year budgetary needs. One other small group of CA investors took a look at a proposal of first year budget needs only, and we have sent some preliminary information off to one other potential financial advisor in IL.
That is only the beginning. We anticipate contacting a plethora of Venture Capital and Angel investors and others. Some of these potential sources of funding will be investors who historically have invested in media, broadcast and cable companies. We will look toward CT based investors and others as well. We will hope to involve those interested in socially responsible investment opportunities and those with either a personal or commercial connection to the community of people with disabilities, personal and private wealth, corporate sponsors, fellow companies headquartered in CT, and large media concerns.
I have no idea how long this process will take but I know it is our last hurdle. I will be videotaping a Power Point Presentation on October 9 that will be posted on our IPA web site. We are being considered for a program called InSITE that is based in NYC and connected with Columbia University. This program lends its help to start ups that are trying to get venture capital. If selected, I would meet with a team of law and MBA candidates. They and some venture capitalists would help polish and shape our pitch and paperwork. This would then culminate in a formal pitch to Venture Capitalists in late November of this year. Also, a recent contact is working on getting us invited to a pitch event sponsored by the CVG of CT.
In terms of individual investments, we are not sure yet what our final corporate entity will be. Many of you have suggested we start asking for money feeling confident that our community would be quick to respond to such a request and opportunity. I agree, but being able to accept small contributions is a very tricky legal question, and can be very expensive in terms of legal and accounting fees. We are considering all avenues however. With a community of 54 million people in the U.S. alone, if we received one dollar per person we would be sitting pretty. We all know that will not happen though. But by the same token we also know that many of us consider a media voice for people with disabilities so pivotal and important for our community we are quite willing to put “some” of our money where our mouths are. It goes without saying no one should ever invest any money they cannot afford to lose and never see again.
I will end the update for now and get back to raising money. Please support the blog and support letter. Spread the word and attempt to add to our supporters. Think always about funding and if you have any personal connection to potential investors, or know someone who does, please make the contact for us. We have a great idea; we have a great team in place. We have unlimited passion and energy. Our community offers boundless talent and creativity. Couple all that with those in the industry who would welcome the opportunity to work with us, and those advertisers who want to sell things to us and show us they support us, and we are fail safe. Forward then to the day when our update will consist of just one sentence, “We are funded!”
Howard Renensland
CEO & Founder
[with]tv
[email protected]
