Acoording to an article run over at Tech Journal, 2008 is going to be a great year to talk with angels about your business. A survey performed by the Angel Capital Association (ACA) shows that angel investment groups are planning on makin any where from just a few investments this year to some as many as 10. Start polishing up your bplan DC, and make some dinner dates! The article can be found here.
Well, you will officially have no excuse anymore not to start a business in the Washington DC area. LaunchBox Digital just raised 250K to help fund the early stage startups of their liking. The startups must however be based around mobile or web technologies.
Instead of sinking a lot of money into these early stage startups, LaunchBox Digital will provide a few companies with a small amount of capital, but instead will invest in a lot of care and attention to help the businesses grow. The caliber of individuals who are currently sitting on the executive team and the board of advisors are definitely the individuals that your business wants care and attention from. Big wigs from all likes of technology related companies will help you to fine tune your pitch and set you up with meetings from investors on both the east coast and the west coast. If your company can’t survive after being selected for their 08 term, then go find a job somewhere because you weren’t cut out for entrepreneurship.
The way this investment company is run reminds me a lot of YCombinator, which shocked me when looking up their “graduates” just how many of the companies I already knew of. Reddit and RescueTime both are sites I use everyday that came from YCombinator.
Its going to interesting to see what new tech businesses LaunchBox will bring to DC’s emerging startup scene. If you are interested in applying (deadline is March 14th), you can do so here.
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