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Jill Card, IBEX Process Technology PDF Print E-mail

Ask Jill Card, founder of IBEX Process Technology, Inc., what it takes to get a venture capitalist's attention and she'll most likely say it's learning to do the woogy woogy dance. A brilliant scientist, mathematician and engineer, Card designed and developed a dynamic advanced process control software solution for the semiconductor manufacturing industry using state-of-the-art artificial intelligence algorithms.

After six months in business with money from friends, family and angels, Card was close to broke. She had even resorted to taking out a personal equity loan to cover salaries. Card knew she had to raise at least $2 million and saw the Springboard Women's Venture Capital Forum as the perfect opportunity to gain funding in the fall of 2000.

"I'm a scientist who has been doing technical presentations for 20 years," said Card. "So, when it was time for my practice presentation to my Springboard coaching team, I thought, 'I can do this. I don't need coaching.'"

Karen Copenhaver, a partner in the law firm of Testa, Hurwitz & Thibeault was assigned as Card's coach. With 14 years of experience at an IBM semiconductor facility, Copenhaver instantly understood the value of Card's product and the need it addressed in the industry.

"Jill had done a fabulous job on her business plan," said Copenhaver. "She was doing all the right things for her business and was obtaining beta testing for market legitimacy. However, when it came to her presentation, she was losing everyone's attention by the second slide."

Card was told that she needed to make her story compelling and understandable in 10 minutes. "Karen told me that I had to do the woogy woogy dance - that I needed to engage the audience and show why IBEX was a good company to invest in," said Card. "Without creating excitement in my presentation, I might miss out on this great opportunity to attract investors."

Card returned with a more animated presentation, which she gave to a group of 10 coaches and critics. One of the critics, Oliver Curme from Battery Ventures, began drilling Card with questions.

"At the end of my presentation, Oliver followed me out the door and asked if he could start talking to me about funding right away," said Card. "They did their due diligence in a week and on the day of the Forum, I signed a term sheet with Battery to fund a majority of the $2 million I needed. It was an amazing lift for us."

"Karen and the other coaches showed me how to hit them quick and fast and make the presentation attractive," said Card. "I'm forever indebted for the pleasant way in which they showed me how to do this right."

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