BizStarts lands AARP seed cash for entrepreneurial startup program

The entrepreneurial startup organization BizStarts is launching its third BizStarts Institute program on Saturday, this time in collaboration with AARP Wisconsin.

“AARP Wisconsin has provided BizStarts with $ 20,000 worth of seed money to help entrepreneurs in the institute program get their businesses up and running,” BizStarts said in a statement.

The BizStarts Institute is a program launched in 2020 that teaches entrepreneurs from underserved areas the basics of business management.

The program wants to help Low-income entrepreneurs are making their dreams come true – and improve the Milwaukee neighborhood at the same time.

The first part of the program takes place at St. Ann’s Center for Intergenerational Care and takes place every Saturday for six weeks. After the entrepreneurs go through the program, they are matched with a mentor and student counselors to help them start their business.

“I can’t tell you how excited we are to be working with AARP,” said Patrick Snyder, Executive Director of BizStarts, in a statement. “These companies only need a small amount to get started and generate positive cash flow.

“Most of our entrepreneurs are customer-financed – they grow when more people buy from them,” said the organization’s statement. This means that “with just a little start-up capital, you will never feel the pressure to take out a loan.”

More:Northwestern Mutual launches a $ 100 million impact investing fund for black communities

More:5 angel investors set up Milwaukee Venture Partners to support startups in the region

The bootcamp program, which starts on Saturday, ends with a competition in which the participants can pitch their business plans.

“The winner of the pitch competition will be rewarded with $ 1,000 in prize money,” said Snyder. “The rest of the starting capital will be divided equally between the rest of the cohort.”

You can find more information about the BizStarts Institute at https://bizstarts.com/bizstarts-institute/

Asking pals for seed cash | Life

DEAR READERS: You’ve got what you think is a great new business idea, you’ve done preliminary research, and you’re ready to go – except for one important step: you need seed capital to get started. How can you offer a compelling pitch to friends, family members or business partners who might want to invest in your new business? Are the dos and don’ts to be observed?

Financing is always a challenge for any business – and it can be the crucial aspect of starting your own business.

According to Lorne Noble, Founder of Simple Startup, the good news is that friends, family members, and trusted coworkers – the people who typically attract new business owners to invest – want the best for you.

“You will have a higher risk appetite than an investor who doesn’t know you,” says Noble.

Getting close to people you know can also have an added benefit.

“It’s a good litmus test,” says Noble, who explains that if you have trouble raising money with family and friends at the beginning, you could face even more financial problems.

If you’re in the process of raising funding for a new business, there are a few tips you can follow to get you off to a great start.

  • Make your pitch professional. “You want to show (a potential investor) that you are treating them as a normal third-party investor, not just a donor,” says Noble.
  • Make sure investors have done their due diligence. Give them what they need to understand business – what it is now and what it may be in the future. “Display an official pitch deck that supports financial data and future financial opportunity,” says Noble.
  • Ask for honest feedback. Family and friends may not be comfortable expressing doubts about your idea. Make sure you encourage them to be open and honest. “Don’t allow them to make you feel false,” says Noble.
  • Make the agreement legally binding. If someone decides to invest, make sure you have legal documents showing the agreement between the parties. “You want to show them that this is a formal investment,” says Noble.

U.Ok. fintech Monavate will get $7 million in seed cash; Starbucks pushes PayPal in promo

The information you need to start your day, from PaymentsSource and on the web:

New child

UK company Monavate has raised $ 7 million in seed money to create a platform for other companies to quickly issue payment cards, reports Finextra.

Monavate will be the BIN sponsor allowing third parties to launch payment solutions through partnerships. Leeandrajae Vaile, founding member of Revolut and Curve, is the company’s co-founder and CEO.

An unnamed institutional investor based in the USA has launched the first financing round for Monavate based in Cambridge.

Good business

Starbucks awards additional loyalty points (stars) to customers who use PayPal for purchases and reloads within the Starbucks app in April.

In a promotion that runs through April 30th, Starbucks customers who select PayPal as their funding method in the app will receive an additional star for every $ 2 spent through PayPal in addition to the existing rewards.

Starbucks emphasized on its website that customers paying with the Starbucks Rewards Visa credit card can still earn stars during the promotion by using them within PayPal to add value to the Starbucks app.

From the lot

The final phase of online car buying – annoying DMV paperwork – was knocked down by the first fully digital vehicle purchase.

The California New Car Dealers Association partnered with California’s DMV and Vitu’s digital signature service to complete the country’s first secure, 100% paperless transaction, including vehicle label issuance. This emerges from a press release.

Vitu’s platform, which supports e-commerce and point-of-sale payments for government agencies and car dealers, plans to partner with other DMV operations in the US to roll out digital service nationally as car sales grow online go.

Local allies

Singapore and Seoul-based cross-border payments technology specialists Nium and SentBe have teamed up to streamline money transfers to South Korean banks and businesses.

The move will offer a simplified approach to sending payments to South Korea that traditionally involves several steps, according to a press release.

Nium supports the collection and withdrawal of funds in local currencies in over 100 countries via an API-based platform. SentBe offers payment services in more than 50 countries and already has partnerships with Moneygram, Ripple and Samsung Pay.

From the web

The Japanese central bank starts experiments on the issue of digital currencies
REUTERS | Monday April 5, 2021
The Bank of Japan (BOJ) started experiments on Monday to examine the feasibility of issuing its own digital currency. It has joined the efforts of other central banks aiming to match the innovations in this area that the private sector is making.

Indian social commerce Meesho is valued at $ 2.1 billion for a new $ 300 million fundraiser
TECHCRUNCH | Monday April 5, 2021
Meesho said Monday it raised $ 300 million in a new round of funding led by SoftBank Vision Fund 2 as the Indian social commerce startup works to become the “only ecosystem that all small businesses can use.” enables you to be successful online “.

Coinbase is approved by the SEC and is preparing the conditions for the listing of groundbreaking cryptos
REUTERS | Thursday April 1, 2021
Coinbase Global Inc, the largest US cryptocurrency exchange, has received approval from the US Securities and Exchange Commission to list its shares on the Nasdaq, paving the way for a groundbreaking victory for proponents of the cryptocurrency.

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