New York City’s Silicon Alley has claimed a place among the ranks of top tech-hubs across the country such as Boston, Dallas, Seattle, and of course, its namesake and the “mothership”, Silicon Valley. While each of these start-up communities boasts its own set of advantages, Silicon Alley benefits from New York’s buzz and density people, which, in the past few years, has played into the hands of the social media phenomenon. Yet in many ways, the most important feature of any tech boom-town is the availability of funds.
Enter: the venture capital firm. Steve Schlafman is a principal investor at one of these firms, Lerer Ventures, which focuses on funding companies in the “seed-stage”. That is, Lerer trudges through the weeds of all start-up hopefuls to find entrepreneurs with “product vision, consumer insight, focused execution, and unwavering ambition.” Although he is now in the position of the lender, Steve is no stranger to the experience on the other side of the table. His work experience spans from startups such as Stickybits and Turntable.fm, to more traditional environments such as The Kraft Group and Microsoft.Read More