New Group Focuses on Helping Startups Commercialize Their Products

Morrisville, N.C. — A pair of Raleigh professional advisors has teamed up to launch a new business development advisory program that they hope will improve entrepreneurs’ chances of success.

The RTP Product Development Guild is the brainstorm of Thomas Vass and Montie Roland.

Vass is president of The Private Capital Market and an author. Roland is president of Montie Design.

The purpose of the Guild is to provide consultancy services to startups and small companies across a wide variety of specialties. Guidance will focus on commercializing product ideas and technology.

Based on his years of experience in working with entrepreneurs, Vass believes the Guild fills a need within the entrepreneurial community.

“Visualize a large funnel, called the new venture funnel,” Vass told WRAL Local Tech Wire. “At the top of the funnel are latent entrepreneurs who have an itch to start a company or some product idea.

“Out of every 100 who move forward, only about 50 make it to year three. The pipeline gets empty pretty fast and as you know from your perch watching the venture capital community, they do not have a lot of companies right now to select,” he added. “The poor ole guys trying to invest the tobacco money claim in three years they have not seen even one deal worthy of investment. The entire economic future of N.C. and the U.S. depends on a huge rate of product technology commercialization. It is the one great advantage the U.S. culture and society have over the rest of the world.”

Vass’ “tobacco money” is a reference to money from the Golden LEAF Foundation that has yet to be invested in venture startups. The LEAF funds come from lawsuit settlements with tobacco companies.

The Guild has already lined up commitments from several other consultants to provide a variety of services. They also have secured office space in Morrisville where they can work with entrepreneuers.

Vass and Roland are working with the Product Development Management Association to expand their product offerings. Roland is president of the Carolinas PDMA chapter.

“Our goal is to have70 members of the Guild giving advice on six member teams,” Vass said.

The Guild will offer consulting advice for approximately six months, and no charge or fee will be assessed. Once the initial period is over, Guild members will provide services at reduced rates and/or equity options.

“Many of us in the product design community have known that if we could cooperate among ourselves, we could be more effective in increasing the success rate of new product development,” said Roland in a statement.

“Our challenge has been to find the right organizational structure to allow us to cooperate in an effective manner,” he added. “Our new Guild, with its meeting facilities … gives us a platform to deliver consulting advice to entrepreneurs and small companies.”

The Guild plans a formal launch event at its offices on Aug. 4.