South by Southwest has spun off its famous Austin conference, launching a smaller gathering in Las Vegas this week called V2V centered on entrepreneurs and investors.
SXSW is purposely vague in explaining what V2V stands for, saying that it could be Visionaires to Vegas, Vision to Venture or Venture to Vegas. But the conference's has two clear aims: to help entrepreneurs navigate their often-contentious relationship with investors and to build start-up communities around the country.
Someone has an idea; someone has money. How entrepreneurs manage that relationship can mean the difference between success and failure. That's why a number of panels and speakers are addressing that topic.
Idea people and money people are often at odds: Start-ups need capital but are wary of giving up too much control, and investors want the biggest slice at the least risk.
Thomas Knoll of ClippPR, a start-up that provides tools to public relations agencies, said the relationship can be perilous. "If you're always trying to beat the other person and get the best value or the best valuation," he said, "then you don't have each other's best interests' in mind."
VegasTechFund partner Andy White advised looking for a long-term relationship with individuals. "It's all about the team and their ability to execute on their passion for solving that customer problem."