A cum laude graduate of the University of Oregon in finance and marketing, Dominic O’Dierno has more than 23 years’ experience in finance and is the co-founder and former senior vice president of Eid Passport, Inc. Currently the CEO of Amare, LLC, a consulting firm, Dominic O’Dierno has helped raise more than $100 million in funding for early stage companies and continues to consult with startups on funding opportunities.
Here are some tips for startups looking for funding during the COVID-19 pandemic:
Exhaust government support
Governments around the world have implemented measures to provide emergency funding and support to businesses. They vary considerably in their forms, ranging from rent exemptions to covering part of employee salaries. Startups should tap into such resources to stay afloat.
Leverage existing networks for funding
Many investors have limited their funding of new businesses during the pandemic. For startups that already have traction in the market, founders can talk to their existing investors, suppliers, creditors, and even customers for financing. These people all have a vested interest in the success of the startup, so they may be willing to help.
Pitch to active investors online
Not all investors have tucked their check books away. Some are still investing in promising ventures. Startup founders can pitch active investors online and present their cases for funding through Zoom calls. This will require that they invest in good audio and video equipment as well as software tools to enable sharing elaborate pitches.
Dominic O'Dierno 