"What actions are you taking to strengthen your cash runway and for how long?”
As many businesses are doing, I’m reevaluating planned investments for the business and taking cost-cutting measures to weather the current state of our economy. - Adriana Vela, Founder, MarketTecNexus
Our portfolio companies have taken advantage of programs such as PPP in order to keep the teams in place and many have made significant reductions in budget. - Eric Breese, Investment Manager, Evonik Venture Capital
We are pursuing a Series A round sooner that we had planned to increase our cash runway in uncertain financial times. - Kristin Taylor, CEO and Yelena Kann, CTO, Radical Plastics
We continue to keep true to our core mission but we have delayed some new hires. - Tim Mueller, VP of Science and Technology, Director - Research Institute, Delaware Innovation Space
Startups are furloughing or laying off people, asking for longer payment terms and applying for bridge funding. - Vanessa Z. Chan, Professor, University of Pennsylvania
"How are you keeping your employees motivated and productive during COVID-19?”
We are doing significant amounts of work doing customer discovery and are also building relationships with potential partners. People are more willing to get on the phone these days which is great for business development. - David Mackanic, Founder, Anthro Energy
We continue to search for good deals and believe some excellent opportunities will present themselves in the coming months. - Eric Breese, Investment Manager, Evonik Venture Capital
Frequent webinars, Zoom and GoTo meetings, providing opportunities for online courses / learning. - Mukund Chorghade, President and Chief Scientific Officer, THINQ Pharma, Serial Entrepreneur
Virtual socials, personal development and lots of touch points. - Tim Mueller, VP of Science and Technology, Director - Research Institute, Delaware Innovation Space
This article has been edited for length and clarity. The opinions expressed in this article are the author's own and do not necessarily reflect the view of their employer or the American Chemical Society.
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