We got our results back from the GRA/TAG competition this past week. While we made it to the semi-finals, we didn’t make it into the final four. Overall, the process was a great experience and we learned a lot about ourselves (and we were forced to write a business plan.)
One thing I learned about myself is that I really hate suits. I’m glad I wasn’t born 20 years earlier where wearing it at work was the norm. Maybe that means I would have been a hippie - I dunno.
Anyway, now that other distractions are over, we are moving forward with web and business development. We got a lot done w/o any significant funding and I think we’ll be able to continue our momentum by getting a lot more done in the next two months without any significant funding.
At that point, things should look pretty awesome.
Wei on May 12th 2008 in Business Competitions
AlphaLab in Pittsburgh has now joined yCombinator and TechStars as a startup launch program. (We really need one of these in Atlanta!) AlphaLab’s deal is slightly better than TechStars since you receive $25,000 for only 3% equity in the company. TechStars takes 5% equity in your company for $15,000 and yCombinator gives you $15,000 for about 6% if you have 2 founders.
From a pure money standpoint AlphaLab has the best deal. Similar to the other programs, your startup will also receive services, advisers and office space in Pittsburgh, Pennsylvania. Having had a high school friend launch a successful web business from Pittsburgh, it does seem like the city is suitable for these kinds of incubators. However, the program does expect you to stay in Pitt past the six month build period - which isn’t very accommodating for startups who have already established themselves elsewhere. Overall, the location is probably the biggest drawback unless you’re a college student.
The deadline for the Summer/Fall program is March 31st. Program starts on June 2nd.
If you are looking for another way to get your startup noticed, sign up for Startup Riot and pitch your business. While nothing has been posted on the official site, you can check out a detailed description of the event at Sanjay’s Bilgistic blog.
The schedule for this event seems pretty tight so make sure you get your entries in before it’s too late.
Wei on March 11th 2008 in Business Competitions
I got a tip from
Andrew Hyde, most recently famous for
VC Wear - clothes for VC’s about another business competition that’s currently accepting applicants.
TechStars.org is a different kind of business competition that doesn’t focus as much on the prize money as much as education and networking. On the surface, the deal is:
- a summer in Boulder, CO
- 40 educational dinners/seminars
- $5,000 per founder (up to $15,000) in seed money
- a hip incubator work area
…in exchange for 5% of your company.
Below the surface, there are priceless networking opportunities and coaching that exists to help you succeed - all of which seem like a great deal if you can spend a summer in Colorado.
There’s only about 22 days left for 2008’s program if you’re interesting in applying for this opportunity. If your loved ones won’t mind you taking a 3 month journey to find yourself, this program is worth checking out.
As we all know, there’s nothing sexier than a confident, smart and knowledgeable woman who can take the helm and run the show. If your current startup happen to have these women as a part of your co-founding team, you may want to consider participating in Pitch 2008, a business competition for women based start-ups.
I participated in the 2007 version of this contest with another business idea I had and even though our team didn’t make it all the way to the top, I did learn a great deal about the business we wanted to start. Through the application process, I also met some really cool people whom I will be connecting with once our current project takes flight.
The only criterion for this competition is that at least 50% of your startup has to be owned by a female. Depending on what you’re working on, this probably won’t be an issue. So check it out… meet some cool people, (possibly VC’s) and get your idea started!
Deadline is April 1, 2008.
Wei on January 23rd 2008 in Business Competitions
