Seedlings

Sharing Industry Experience

The advice doesn't stop after the barn raising. At many ofits startups, EVentures sets up advisory boards ordesignates a personal adviser to help the new company keepthe voice of experience alive and well. For example,Rooster.com has built what it calls a founders' operatingcommittee (FOC), made up of businesspeople who represent theinitial investors.

The FOC members function as resident experts on the needs ofthe industry. "They participate in the day-to-day businessdecisions," says Arndt. "And they can connect [the startup]quickly with the right people to collaborate on projects orobtain information."

Arndt also says the FOC's contacts are invaluable -and so isits understanding of the sometimes complex agricultureindustry. For example, FOC members from Cargill have helpedRooster executives gain access to business units that couldultimately wind up as customers, like the Animal Nutritiongroup. "The value of the FOC is the access it provides tokey decision makers within its own organizations to help usconfirm which new products and functionality to develop, andwhich ones we should enhance," says Arndt. He says that theAnimal Nutrition group's early feedback ultimately helpedRooster refine its products to fit the market more quickly.