Recipe for a company
Post-Disptch article highlighting local start up company run by a DBBS alum, Jarrett Glasscock
When a group of Washington University scientists decided to start a gene sequencing company, conventional wisdom said they should go after big money.
They headed for California and talked with several venture capital funds. Those investors didn't exactly say no, but the founders of Cofactor Genomics got a financial education in a hurry.
"We realized how much control we would be giving up, and it was an eye-opener," recalls Jarret Glasscock, Cofactor's chief technology officer. "It really wouldn't have been our company anymore."
After their West Coast tour, the group scaled back their business plan and decided to start with one-tenth the money they originally had envisioned. They launched Cofactor in November 2008 with their own money, an equity investment by one out-of-town angel investor and vendor financing from the maker of their half-million-dollar sequencing machine.
Read the David Nicklaus Article here
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