Entrepreneurs: Do NOT pay to present to VCs
I was recently "invited" to present at the New York Venture Summit (run by youngstartup.com) as I'd been "recognized as a Top 50 Innovator". I asked for more info, and then was I told that I'd need to pay $1500 to present. It didn't look like a complete scam (SAP seems to back it somehow) so I took the time to tell them that, on principle, I will not support any organization that tries to solicit money from entrepreneurs for the "privilege" of giving VCs an opportunity to invest.
From: Adam Negnewitzky <adamn@youngstartup.com>
Date: Fri, Apr 30, 2010 at 1:06 AM
Subject: RE: Confirm
To: Henk Kleynhans <henk@skyrove.com>
Hi Henk,
You will really be missing out. We're bringing together over 80 VCs and for a company seeking funding something like this can be of tremendous value. It would take years to setup meetings with all of these investors and we are bringing them all together for one day. We've had many success stories and it's truly a shame that you aren't able to recognize that we are running a business which is providing tremendous value to both entrepreneurs and investors.
The fact that you won't be joining us will not have a negative affect on the summit - we will sell out and have a waiting list....it's completely your lose!
Adam
Adam Negnewitzky
Senior Associate
youngStartup Ventures
Phone: (212) 202-1002
Email: adamn@youngstartup.com
URL: www.youngstartup.com
