Founders N’ Funders hosted a networking event at Pelion Venture Partners. The event featured a panel discussion on venture capital, emphasizing funding challenges, investor expectations, and startup growth strategies.
Draper, Utah, January 29, 2025
As part of Utah Tech Week, on January 28, 2025, Jeff and Inger Erickson, co-founders of Founders N' Funders, hosted a networking event at headquarters of Pelion Venture Partners in Draper, Utah. The well-attended event brought together nearly 300 founders and investors in one of the area's most stylish settings to delve into the venture capital landscape.
The event was a success for first-time attendees like Judd and Sarah Ellis, who found it a valuable opportunity to establish connections that could lead to future fundraising. Jacqueline Lensling, a Michigan-based investor, also highlighted the importance of connecting with Utah’s local community. "Coming to events like this is great because I’m able to connect with the local community here in Utah and create beneficial relationships in a fun, casual setting," she said.
The Founder N’ Funders events play a pivotal role in creating traction for startups. Caitlin Probst, a founder of an app aimed at early detection and prevention of postpartum depression, shared how she was able to network and receive valuable feedback to help her as she prepares for her seed round. "I couldn't think of a better place to network with founders and get some feedback on my ideas," Probst said.
A panel discussion about venture capital was the highlights of the event, featuring experts like Trent Mano from Convoi, Kristy Muir from Pelion, Zac Kerr from Tandem, Emily Applegarth from Paiv, and Zach Barney from Mobly. The panel began by discussing the integral role venture capital plays in scaling startups. "Venture capital is rocket fuel; it’s meant for companies that can go from zero to a hundred really fast," explained one investor. Beyond the financial backing, VCs offer critical support in the form of industry connections and strategic guidance, helping startups accelerate at unprecedented speeds.
The panelists emphasized the importance of a strong founding team when making investment decisions. Investors typically look for resilience, market expertise, and execution capability. "We bet on people first, and the idea second," one investor said. Investors also seek founders who are deeply knowledgeable about their market and who can adapt as needed. As one investor pointed out, "If a founder doesn’t know their numbers cold, that’s a huge red flag for us." Successful founders stand out with clear vision and purpose rather than just flashy presentations.
When discussing the challenges of securing funding, the panel acknowledged how highly competitive the process is. Many startups face challenges, including misalignment with investors or insufficient traction. "Not every VC is right for every startup," one investor warned. Founders are urged to do their homework and find investors who understand their space. A common mistake is overestimating the valuation of their startup. "If a founder comes in with an unrealistic valuation, it tells me they haven’t done their homework," said one investor. Beyond valuation, investors are looking for a clear, viable business strategy.
The event also highlighted the evolving venture capital landscape. Inger Erickson, one of the event's hosts, pictured above left, emphasized the value of educating new entrepreneurs on this subject "The goal is to teach new entrepreneurs the resources they have available and the best way to reach them," she said. This event helped startups connect with the right investors while fostering a strong sense of community and gain insights into the venture capital landscape.
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