When Kate Dilligan started Cooler Heads in 2018, the business had limited resources. The entrepreneurial journey began with only Kate and the initial investment she secured after winning Quick Pitch at San Diego Startup Week. The challenge was the need to scale the company from its startup stage with minimal funding and support. Cooler Heads had to navigate the additional hurdle of limited access and success in fundraising
The support from The Brink SBDC included invitations to various events and networking activities, creating opportunities for Cooler Heads. Networking efforts led to acceptance into the Ad Astra accelerator, follow-on investments, engagement with NuFund for investment, and recognition as one of Connect’s Cool Companies for 2023. These strategic moves helped overcome the challenges associated with fundraising for diverse founders.
Cooler Heads has overcome these challenges and emerged as a promising player in San Diego’s business landscape. With their innovative technology, they are not just a business success story but a company making a significant impact in the lives of cancer patients undergoing chemotherapy. Their journey showcases the importance of strategic partnerships, financial planning, and overcoming barriers for diverse founders in the startup ecosystem.
Cooler Heads achieved significant growth through their dedicated efforts and strategic planning. Closing funding rounds totaling $8.2M and securing $2.1M in non-dilutive funding from the National Cancer Institute were pivotal in supporting the company's scaling efforts and revenue generation.
The business's challenge was securing startup capital and navigating the process of registering and establishing a new business. The client, Carlos, wanted to launch a Spanish news website, CGN-Noticias, catering to the Spanish-speaking population. However, he faced the initial hurdles of obtaining the necessary funds for startup capital and lacked awareness about the available resources, notably the Small Business Development Center (SBDC).
The solution to the challenges faced by the business involved the assistance provided by the Small Business Development Center (SBDC). The SBDC was pivotal in guiding Carlos to secure $100,000.00 in startup capital. Additionally, the SBDC team provided valuable expertise in the processes of business registration, marketing strategies, and other essential aspects of business development. The collaboration between Carlos and the SBDC proved to be instrumental, as it not only facilitated the successful launch of CGN-Noticias but also impressed Carlos with the amount of knowledge possessed by the SBDC team. Carlos acknowledged the "incredible & free" support provided by the SBDC, emphasizing its role in overcoming the challenges and fostering the success of his new business venture.
The SBDC's assistance extended to helping Carlos secure a $100,000.00 Small Business Administration (SBA) loan through San Diego CDC Small Business Finance, enabling significant business growth.
Ramon Ozuna faced the initial challenge of securing financial support to kickstart his business. Recognizing the potential of his business, he turned to the Small Business Development Center (SBDC) for assistance.
With the support of the SBDC and the infusion of capital, Ramon's business, Imperial Pipe and Steel Supply, experienced remarkable expansion. The loan facilitated the establishment of multiple warehouses, enabling the company to handle larger volumes of inventory and meet the demands of a growing client base. Imperial Pipe and Steel Supply's success story extends beyond local boundaries, as the company now engages in international trade, shipping its products to clients worldwide. This expansion solidified the business's position in the market and paved the way for future growth and the prospect of opening additional facilities to enhance its reach and capabilities further. The SBDC's strategic assistance played a pivotal role in transforming a small business into a thriving, globally-oriented company.
Ramon successfully obtained an $8,000 loan that was the cornerstone for his business's growth. This financial boost allowed him to overcome the initial hurdles, establish his business, and lay the foundation for future success.
