Unbank Ventures is one of those venture companies that participate in a variety of networking events. A major job they have is to attract and bring people into those networking events; it is basically about sales and operations. They build a global platform to provide education, advisory, and investor connections to startups, financial institutions, and service providers. They have three major programs which are called Unbank Incubate, Unbank Accelerate, and Unchain Ventures. But right now they are focusing one hundred percent on the Unbank Incubate program. It is an eight-week program. Unbank Ventures and its cohort companies covers three topics which are product/market fit, sales/marketing traction, and investment traction. This program meets weekly at standard chartered studios in San Francisco. The program also includes developing three key metrics that will drive the company to the next level. In the end of the program, Unbank Ventures will give their partners, or sponsors, the opportunity of pitching at the Unbank Conference.
They don’t have a fixed office and therefore, I work in a big place with people from other companies. there are approximately 60 companies in the same workplace and Unbank Ventures is one of them. So, basically, they are working with their competitors in the same place. The major competitors are usually other venture companies that are trying to drag people into other networking events or conferences like Unbank Ventures do. And now they are trying to attract more people into their events .
I can see lots of challenges in this industry. The process of the program is not going very well. They have so few people work for the company, so they don’t usually have time to do the research on all the companies that they want to contact. For example, if they want 1000 people from 1000 different companies to participate in their networking event, they have to get their email addresses and do a research on the companies. But even if we say it takes about 5 minutes to do a research on a company, it will take 5000 minutes to email all 1000 companies. They use CRM programs that are called Hubspot and Salesforce. The CEO doesn’t want to send them emails at once, so I had to find out about the company and sent them emails one by one. Plus, there are four emails to send to one company in a sequence. This becomes a huge problem because it takes too long and they have few workers. One opportunity can be hiring more unpaid intern so they reduce work.
Unbank Ventures is a small company with a short history. But when I go to work, I see how hard the CEO works. He is an intelligent man and I believe he and his colleges will reach their goal very soon.