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Reference no. BAB156
Prize winner
Published by:
Babson College (2009)
3 May 2009
16 pages
Data source:
Field research
Shane Eten is passionate about being an entrepreneur and finds an opportunity in managing food waste, a clean technology start-up. Shane develops a plan for an anaerobic digester that will convert grocery store food waste into energy and organic fertiliser. The case explores Shane's entrepreneurial journey, from working in a high tech start-up, a low tech candle maker, an MBA student to gaining recognition in business plan competitions for the anaerobic digester. At the point in time of the case, Shane needs to raise some capital to develop a prototype and prove his concept. Shane struggles in identifying sources for the $250,000 he needs to launch his dream. Although Shane has garnered lots of interest from potential investors during his success in business plan competitions, his venture is too early and the capital needed is too small for venture capitalists. He could seek angel capital, but how can he identify these 'hidden' angels? Friends and family are a possibility, but Shane isn't sure that his contacts have enough capital available for him. Besides, he would like to preserve as much ownership as possible at this point in time, because he recognises that he'll need to raise more capital to build up the company if the prototype is successful. This is a good case to explore alternative sources of capital. The teaching objective is to search for alternative sources of capital for launching a new venture.
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