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Founder Profile
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Why Kiva’s Co-founder Struggled to Find Her Great Idea
A few years out of college Jessica Jackley decided she wanted to be a social entrepreneur, but didn’t know what that meant exactly.
“What did being a social entrepreneur look like? The motivation, values, and energy were all there, but the specific context was missing.” Without a specific idea to implement, she felt lost. “I felt like someone who wanted to be an author but had no idea what the book should be about, or someone who dreamt of going to the Olympics but hadn’t chosen a sport,” she says.
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Hot Startups of the Week
Urbandig
A novel approach to discovering unique experiences in local areas; download the app to find curated tours from indie experts.
It’s an interesting new way to travel and find off-the-beaten-trail recommendations. The company was founded by a group of entrepreneurs including ex-MySpacers.
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Qidiq
Get ongoing feedback from targeted groups you care about. A great tool for real-time voting at conferences, the company was founded by Jonathan Abrams and Elan Dubrofsky.
Use invite code SPROUTR to get early access.
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Zite
A personalized magazine for iPad that gets smarter the more you use it. Designed to learn your preferences, the app suggests stories that fit your tastes and past behaviours.
Founded by Ali Devar of Vancouver.
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drchrono
A startup that focuses on helping doctors be more effective. The iPad app locates electronic health records, displays lab results, sends prescriptions direct to pharmacies and gives searchable data for doctors to be better informed about each patient.
The company was founded by Michael Nusimow and just raised a second round at $650k.
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Founder’s Note
In the early days of a startup, it’s easy to be dismissive of documentation.
When all you have is an idea and a passion for executing, it can seem silly to fuss over corporate structure and other legalese.
Limited funds seem better justified going into product development rather than into a lawyer’s pocket.
Many founders underestimate the importance of maintaining official documents until a moment where that’s all that matters.
From taking on investment, to handling an exiting co-founder to being acquired – each situation relies on the company having kept proper records.
What state are your books in? Have you prepared yourself adequately?
Don’t get caught off-guard: take the necessary steps now to ensure you’re prepared for the unexpected.
Until next week,
Sarah Prevette
Founder & CEO
Sprouter.com
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