“At DayOneVentures @ VT KnowledgeWorks, we roll up our sleeves and help you to build and grow your business. We act as a member of your team with the same motivation, risk, and reward.” – Bill Boebel
Blacksburg, VA (PRWEB) March 17, 2010
DayOneVentures @ VT KnowledgeWorks is an invitation-only seed stage investment and mentoring program for technology-based startups, funded and operated by experienced, successful entrepreneurs who are also angel investors. It is housed at the VT KnowledgeWorks Business Acceleration Center, located in the Virginia Tech Corporate Research Center in Blacksburg, Virginia, home of Virginia Tech.
Each spring, DayOne engages with up to three early stage enterprises through a competitive evaluation process. Winning teams receive a generous stipend to cover personal and business expenses related to participation in the summer mentoring program, plus class A office space and high-speed internet access during their stay. Throughout the summer, each team receives regular mentoring by successful entrepreneurs who have built and sold technology businesses. The program typically begins in late May and concludes in late August. At the end of the summer, each firm has the opportunity to present to potential investors via a demo day event. Up to three teams will be invited to spend the summer in Blacksburg. Winning teams will receive a cash award related to team size. Teams live and work in Blacksburg from late May to August. In exchange for the package of cash, office services, and mentoring, DayOne receives an equity stake in the emerging enterprise.
- Proposed businesses should have a relatively low capital requirement and the ability to generate revenue within one year. Examples: web apps, software, ready-to-go widgets.
- The minimum team size is two persons. The maximum is four persons.
- The team must be willing to move to Blacksburg, Virginia and work on the business from late May until late August.
- A business plan is not necessary, just a clear and concise description of the concept, business model, and value proposition.
- Team experience is not as important as team passion.
- Demo day: At the conclusion of the summer, each team will be afforded the opportunity to showcase their company, concept, and team at a private forum attended by local entrepreneurs, local angel investors and venture capital funds.
For more information, call or email Lindsey Eversole at 540.443.9147, lindsey(at)dayoneventures(dot)com