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An Interview With Ron Miller, CEO Of Los Angeles Based Accelerator StartEngine

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Los Angeles based StartEngine is a startup accelerator focused on helping tech startups with resources and mentorship. They know how hard it is to start a startup, especially your first one, so they will try to make it as easy as possible, giving you access to the two things you’re probably missing – the right network and money to get started. Below is our interview with Ron Miller, CEO of StartEngine:

Ron-Miller-170Q: What are the core benefits of the StartEngine program?

A: The first advantage is the ability to leverage our extensive mentor network. StartEngine currently has over 230 mentors committed to helping promising young entrepreneurs develop and refine their business models. Mentors help our teams with specific experience and guidance and open their Rolodex for finance, marketing, distribution, technology and strategy support.

Another core benefit of the StartEngine program is assistance with raising capital. StartEngine has developed a state of the art investment crowdfunding portal that will help startups raise initial seed capital to launch their companies. Through its experienced customer service team and network of affiliates, StartEngine provides entrepreneurs with an turnkey solution to raising startup capital under the new crowdfunding rules.

Related: Startup Investormill – Find Economic And Financial Data In Seconds!

Q: What qualities do you look for in a startup? Do you have an industry preference?

A: Our market focus is exclusively on digital technology and media markets. The qualities we look for in startups are primarily based on the entrepreneurs themselves. We look for people with strong academic backgrounds, we require a co-founder to be a technologist or engineer and we vet the relationship between co-founders. We also require that there be more than one founder for each business that we invest in.

Start Engine-Los Angeles

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Q: At what stage of development should companies be when they apply for your program?

A: We work with entrepreneurs who are at the very earliest stages of developing their business concepts. We provide support to help companies prove their market validation and develop the product or technology as well as the business plans necessary for execution.

Related: AppVested – Connecting Serious Investors With Carefully Vetted, Mobile App Ideas

Q: How do you process your applications?

A: We direct all inquiries to submit online through our portal. After completion of the initial application, one of our partners reviews each application to determine whether the business plan or idea is a good fit for StartEngine. If we believe it is a potentially good fit, we then conduct an in person interview that focuses primarily on the qualities of the team, and less so on the qualities of the company.

Q: What are StartEngine plans for the future?

A: StartEngine’s plans for the future are to disrupt our own business model. We are displacing our judgment about a team and a concept with the wisdom of the crowd.

Going forward, all StartEngine applicants will be required to first raise capital on our investment crowdfunding portal. StartEngine will then select  the companies with the highest potential and will co-invest to match that amount raised and offer acceptance into our accelerator.

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