Last week I had a virtual run-in Simeon Simeonov, a member of MITX who is now the founder of FastIgnite, Inc., where he helps entrepreneurs shape promising ideas, raise capital, build teams and execute. Sim is also co-founder and interim CTO of San Francisco-based Plinky and (in his spare time) a technology advisor at Polaris Venture Partners in Boston -- among (undoubtedly) many other things. Since FastIgnite is his most recent project, I thought I'd ask him a few standard questions and find out 'What's Next.'
Q. In a nutshell, what is your company all about?
A. FastIgnite provides executive advisory services to entrepreneurs and companies. We help entrepreneurs shape promising ideas, raise capital, build teams and execute.
Q. How was your company founded, and what inspired its creation?
A. For the past seven years I was a venture capitalist at Polaris Venture Partners. Capital is not scarce but there is a scarcity of people who can help entrepreneurs turn ideas into funded companies and then revenue. At Polaris I actively partnered with entrepreneurs and helped start five companies, three of those as co-founder. I wanted to become more entrepreneurial and started FastIgnite.
Q. What makes your company different than other companies in your market space?
A. We know both the entrepreneur and the investor side of the equation extremely well.
Q. What is your greatest asset?
A. Our network. We have collected an impressive number of relationships since the early days of the Web, through multiple startups and seven years in venture capital. If we don't know the answer (we often don't!) we probably know someone who does. Our address book has 10,000+ names in it and we have 2,500+ connections on LinkedIn which we put to use in the service of our companies.
Q. What is the biggest challenge you face in the marketplace today?
A. Too many companies, too little time.
Q. Why are you a MITX member?
A. Many of the cool new companies of tomorrow will come from the digital media and marketing industry. MITX is the fabric connecting these businesses and the smart, hungry people inside them.
If you're interested in learning more about Sim and his excellent adventures, check out his blog HighContrast. And if you're not a MITX Member (what are you waiting for?), click here to learn more about membership and it's perks.