7th Annual IdeaFest Business Pitch Competition - Postponed
Danville, VA, July 21, 2020 – After much evaluation and consideration due to the COVID-19 pandemic, The Launch Place has decided to cancel IdeaFest 2020 which had originally been postponed in March.
The IdeaFest pitch competition not only introduces the Dan River Region to entrepreneurs and investors, it also exposes The Launch Place’s services and investment funds to start-up companies that are seeking early-stage capital. The Launch Place could potentially invest in IdeaFest competitors from its Seed and Pre-Seed Funds. IdeaFest attendees also learn about the region's entrepreneurial ecosystem resources, have the opportunity to network with a wide range of business professionals, and can explore entrepreneurship as a career option. Since most of the above cannot be accomplished by organizing a virtual event, The Launch Place made the difficult decision to cancel the 2020 competition and will seek to hold it in 2021. Applicants for the 2020 IdeaFest pitch competition will automatically have their applications transferred to the 2021 competition.
Nonetheless, The Launch Place is developing ways for our entrepreneurs to gain insights on how to pitch to investors. A new virtual event will be held replacing the annual Big Launch Challenge business plan pitch competition set for November 10, 2020. More details coming soon!
IdeaFest is a Business Pitch Competition where 20 finalists will pitch their startup idea to a panel of judges and a live audience. The top three competitors will be awarded $5,000 for first place, $3,000 for second place and $2,000 for third place.
Winners of the competition will also be eligible to receive twenty-five hours of free business consulting from The Launch Place. The Launch Place, assists with business formation, job creation and retention through its business consulting services and investment funding, while having a dual responsibility to recruit and retain entrepreneurs to the Dan River Region. The IdeaFest competition exposes The Launch Place’s services and funds to start-up companies that are ready to establish or seeking early stage capital. The Launch Place could potentially invest in the company from its Seed and Pre-Seed Funds.
- 1st Place $5,000
- 2nd Place $3,000
- 3rd Place $2,000
IdeaFest is free and open to the public. Attendees are encouraged to attend any part of the day’s activities. Community members of all ages and professions are invited to attend to learn about the region's startup development resources, to network with a wide range of business professionals and to explore entrepreneurship as a career option.
Deadline EXTENDED to Apply: March 15
The applications will stay open until March 15th. Applications will be reopened for updates and additional applications 6 weeks prior to the newly selected date.
For additional information, contact Varun Sadana at firstname.lastname@example.org.