July 21, 2020

DANVILLE, VA – July 20, 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!