CONGRATULATIONS on your recent initiative to host a boardroom lunch to discuss the current state of affairs with WA’s research and development efforts. I found the articles informative, insightful and most timely.
The company of which I am CEO, Lateral Sands, has been providing specialised electronics (hardware) design services to Silicon Valley for the past four years, and we have seen first-hand just how effective the coupling of pre-seed networks and commercialisation-focused universities can be.
The depth of preseed investors in the valley is astounding. Even our San Francisco-based lawyer is part of an Angel Investors network that listens to the pitches of five or six developers every month.
In the past six months, Lateral Sands has been working on a strategy that partly addresses the gap between research and funding, mentioned as one of its primary findings in your article.
Lateral Sands is looking to commercialise both our internal ideas as well as other third party ‘pre-seed’ projects using our electronics hardware and software experience coupled with our commercial and project management depth.
We are well placed to facilitate the development of an electronics related idea beyond proof of concept and thus under the radar of the VCs.
However Lateral Sands now finds itself on the cusp of a curious choice. For the next phase of funding and infrastructure requirements, does the company approach the well-oiled (but short-term shy) networks in Silicon Valley, or does it stick with the developing and small Perth market?
It is surprising that there are so few serious pre-seed investment networks in Perth, given the individual wealth and entrepreneurial attitude that exists within the State.
It is timely that we review the existence of these networks as they form an essential part of the step to bridge the VC funding gap.
Scott GoodheartLateral Sands, Subiaco