Most VCs don’t have time to look at the thousands of unsolicited deals that are sent to them "over the transom," an interesting phrase defined by Wikipedia. Most only look at deals that are referred to them by people they know and trust.
So when VC Forum comes to your town looking for local deals that are promising, the Forum requires them to be submitted by a local VC firm that has of course screened the deals.
So local companies that want to pitch at the VC Forum events will need to have already gotten in front of credible people and started telling their story. You have to get noticed, you have to have a good team and a good story, and then you get the referral you are looking for.
The team at FundingUniverse.com has been very grateful for the support of hundreds of angel investors, VCs, sponsors, and entrepreneurs in Utah that have turned its online angel investor matching service and its Speedpitching events into key components of the Utah funding scene.
We heard today that all of the deals but one that were featured at Utah VC Forum event last week had previously attended FundingUniverse.com Speedpitching Events.
Many of the best deals that I have seen at the Speedpitching Events were looking for more money than is usually available from angel investors; so I’m glad to see that some of these are moving on to the VC arena. I hope the coaching and feedback they have received at the Speedpitching Events will help them land the venture capital they are looking for. I bet that it helped some of them get the referral they needed to present at this prestigious VC Forum event.