Frequently Asked Questions
Working at the Intersection of Business & Technology
Employees with product ideas orphaned or ignored by their organizations. If you are a 'entrepreneur at heart', have maintained close links to the organization you have worked, and are looking for a new beginning, we can relate! If you own your ideas, [we may require a Waiver from the corporation you are leaving if IP is involved], we want to meet you.
BRITE helps CORPORATE BURNOUTS take their products to market, find the right customer/user segments, implement the right business model, generate revenue and user growth, develop scalable/profitable distribution channels, augment their teams with complementary skills, and when appropriate, raise venture capital from investors who believe in their vision. BRITE is also not an investment bank -- we do not broker financing for our companies. While we believe fundraising is one of the many hurdles that any new venture must overcome, we do not believe fundraising is the end goal of building great products or companies. In fact, most BRITE Corporate Burnout clients do not kick off their fundraising process until they have met pre-determined product - market fit milestones for their respective businesses. Therefore, we provide an agreed to set of deliverables for a fee, and work with you as long-as-it takes to get you to your first institutional financing.
- The Corporate Burnout pays for these deliverables, typically a fee plus an equity component of between 3%-5%.
- Contingently, BRITE Ventures invests at a pre-seed stage, between $100,000 to $175,000 in exchange for an additional 7% to 15% equity stake.
Product Development: 3RD party or independent product development organizations offer engineering and product development services to corporate clients for a fee. Often, these companies do not offer product scaling services, but do have deep trusting relationship with their corporate clients. R&D and Advanced Technology Groups: internal to companies, having a budget, owning the political will to advance a product, but lacking the entrepreneurial culture required to advance or defend the advancement of the product idea quickly. Confidentially is a core need.
We provide an agreed to set of deliverables for a fee, and work with you as long-as-it takes to achieve a set of Milestones. Fee ranges based on deliverables, typically a modest retainer + a fee attached to a deliverable.
Spin offs typically originate within companies having revenues greater than $10,000,000 and involve non-core intellectual property (IP) and assets (human or otherwise). Sometimes, the IP and assets need to be re-purposed, have fallen out of political favor, and/or the company lacks the entrepreneurial culture to evaluate or scale.
We engage as advisors; provide an agreed to set of deliverables for a fee, and work with you as long-as-it takes to achieve a set of Milestones. Our fee ranges, based on deliverables, typically comprised of a modest retainer + a fee attached to a deliverable.
- BRITE Ventures will contingently co-invest with corporate into operational and strategically independent new ventures.
- BRITE Ventures invests in roll-ups around themed emerging technologies or markets.