Even in this environment, there are great opportunities for capital-efficient businesses to disrupt industries and create significant value
Washington, D.C. (PRWEB) February 2, 2009
The entrepreneurial spirit is alive and well at LaunchBox Digital, a Washington, DC based business incubator and investment firm launched last year to help early stage entrepreneurs build and grow successful startups.
LaunchBox Digital is announcing that, beginning today, it is now accepting applications for its Summer 2009 business accelerator program, LaunchBox09. LaunchBox Digital provides entrepreneurs an accelerated path to getting early-stage businesses critical early financial support, as well as advice and practical guidance on how to best bring their ideas to market or enhance traction for products already in the market.
Founded by three technology industry veterans, and supported by a roster of great advisors who have built successful digital businesses and tens of billions in value, LaunchBox Digital is dedicated to helping entrepreneurs overcome obstacles and succeed.
The initial LaunchBox08 class of nine portfolio companies continues to successfully push forward. To date, six of the nine LaunchBox08 portfolio companies have raised additional funding totaling approximately $6 million.
Up to ten successful applicants to LaunchBox09 will receive seed investment and help in establishing and building their new business. Then, during 12 intensive weeks in Washington, D.C., they will gain from the day-to-day advice and guidance offered by the firm's founders and advisors, as each team works to develop or advance an initial product/beta, craft its business plan and launch its business. At the end of the program, each company will be given an opportunity to present their business to angel investors and venture capital firms, strategic partners, bloggers, and the media on the East and West Coasts.
Applications for LaunchBox09 are being accepted now. For more information on LaunchBox Digital, LaunchBox09 and the application process, see: http://www.launchboxdigital.com/.
The founders of LaunchBox Digital are Sean Greene, who was Founder and CEO of The Away Network; John McKinley, who was President of Digital Services and CTO of AOL, and previously CTO and member of the Executive Committee of Merrill Lynch; and Julius Genachowski, who was Chief of Business Operations and a member of the Office of the Chairman at IAC/InterActive Corp.
"It is great to see our first of program graduates continue to succeed. They are a really talented group of individuals, and to see the progress they have made, in the face of today's market, is inspiring. Six of the first nine graduates have secured funding to date, and their products keep getting better and better. With all the new innovation catalysts and platforms out there, Android, Twitter, Yahoo Boss, etc., I can't wait to see what this year's applicants come up with", said LaunchBox Digital Co-Founder, John McKinley.
"Even in this environment, there are great opportunities for capital-efficient businesses to disrupt industries and create significant value," said Sean Greene, Co Founder of LaunchBox Digital. "LaunchBox is a great platform to help entrepreneurs both launch new businesses and accelerate the development of early-stage companies that are already up and running."
LaunchBox Digital's advisors include key people behind some of the most successful technology companies of the past decade. It includes founders who started with ideas and turned them into companies sold for billions of dollars, key operating executives at multi-billion dollar digital media and commerce companies, and two former chairmen of the Federal Communications Commission. Companies represented on LaunchBox Digital's advisor group include: Advertising.com, AOL, Daily Candy, Feedburner, Fox Interactive, Glu Mobile, Hillcrest Labs, Lightningcast, Millenial Media, The Motley Fool, Object Video, Overture, Proxicom, Washington Post-Newsweek Interactive, Webs.com, WildSeed, Xfire and others. The complete roster of advisors is below.
LaunchBox Digital is also supported by sponsors who add tremendous value to LaunchBox09, and provide participants with world-class services that would not otherwise be available to such new companies. The LaunchBox09 sponsors include Cooley Godward Kronish LLP, Viget Labs, iStrategyLabs and Square 1 Bank.
LaunchBox Digital Advisors
Greg Ballard - CEO, Glu Mobile
Jim Bankoff - Special Advisor, Providence Equity Partners; Chairman, SportsBlogs Nation; Emmy Award Winner (Live8); Former EVP, Programming & Products, AOL
Mike Cassidy - Founder Xfire and Direct Hit
Dick Costolo - Cofounder & CEO, FeedBurner
Tom Des Jardins - Co-founder and ex-CTO of Lightningcast
Eric Engstrom - General Manager, Microsoft Mobile; Founder and ex-CEO of Wildseed; co-creator of Microsoft DirectX
Scott Ferber - Founder and CEO, TidalTV and Advertising.com
Raul Fernandez - Special Advisor, General Atlantic; CEO of ObjectVideo, Founder and ex-CEO of Proxicom
Tom Gardner - Co-founder, The Motley Fool
David Gardner - Co-founder, The Motley Fool
Adam Hanft - Founder and CEO of Hanft Unlimited
Reed Hundt - Senior Advisor, McKinsey & Co; Board of Intel; Former FCC Chairman; Board of multiple startups; Author of You Say You Want a Revolution and In China's Shadow, The Crisis of American Entrepreneurship
Ted Leonsis - Chairman of SnagFilms, Clearspring Technologies and Revolution Money; Vice Chairman Emeritus of AOL; Majority Owner of the Washington Capital; Founder of Redgate Communications
Steve Lerner - Founder and Chairman of FGI, Chairman of Capital; Strategies and Managing Partner of Blue Hill Group
Ross Levinsohn - Partner Velocity Interactive Group; Former President of Fox Interactive Media
Dany Levy - Founder, Editor-in-Chief and Chairman, Daily Candy
Caroline Little - Special Advisor, Guardian News & Media; Former CEO and Publisher of WashingtonPost.Newsweek Interactive
Ted Meisel - Senior Advisor, Elevation Partners; Chairman of Veoh Networks; Former CEO, Overture
Jon Miller - Partner Velocity Interactive Group, Former Chairman and CEO of AOL
Haroon Mokhtarzada - Co-founder & CEO, Webs.com
Rick Morrow - CEO of NexGenVS, former principal of Virginia Cellular, which was sold to Alltel
Paul Palmieri - Founder & CEO, Millennial Media; former Executive Director, Programming & Business Development, Verizon Wireless
Shervin Pishevar - President of Webs.com, co-founder and CEO of Social Gaming Network (SGN), formerly the founder of Ionside Interactive and WebOS
Michael Powell - Senior Advisor Providence Equity Partners; Former FCC Chairman; Cisco Board member
Scott Rafer - Founder and CEO of Lookery, ex-CEO of MyBlogLog, co-founder of Mashery, and Chairman of Winksite
Chris Schroeder - CEO, the Health Central Network; former CEO, Washington Post.Newsweek Interactive
Cal Simmons - Founder and Chairman Five Star Alliance, Adcision Networks, Blue Cotton Tech Services. Co Author of Every Business Needs an Angel
Dan Simpkins - Founder, Chairman & CEO, Hillcrest Labs