LaunchBox Digital Expands to Research Triangle Park, NC

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LaunchBox Digital, a leading business accelerator and early-stage technology investment firm, today announced that it is expanding its program to the Research Triangle Park (RTP) area of North Carolina. The expansion of the program reflects LaunchBox Digital's commitment to being the pre-eminent business accelerator program serving the Mid-Atlantic region. LaunchBox Digital will hold a 12-week business accelerator program in Durham, NC during the fall of 2010.

LaunchBox Digital, a leading business accelerator and early-stage technology investment firm, today announced that it is expanding its program to the Research Triangle Park (RTP) area of North Carolina. The expansion of the program reflects LaunchBox Digital's commitment to being the pre-eminent business accelerator program serving the Mid-Atlantic region. LaunchBox Digital will hold a 12-week business accelerator program in Durham, NC during the fall of 2010. The participants will join the 17 companies that participated in LaunchBox08 and LaunchBox09.

"The RTP area is an ideal location for our accelerator program," commented LaunchBox Digital founder John McKinley, "There are an abundance of entrepreneurs in the area, due in part to the presence of world class universities such as Duke University, the University of North Carolina at Chapel Hill and North Carolina State University." The entrepreneurial community also benefits from the investment of leading technology companies such as Red Hat, Cisco, IBM, and NetApp, and the successes of local start-ups such as Channel Advisor, Pocket Gear, Motricity, Shoeboxed and iContact.

Mark McDowell, LaunchBox Digital investor and board member, remarked, "We have been overwhelmed by the show of support from local investors, local and state government agencies, and the Council for Entrepreneurial Development, which serves the needs of the regional entrepreneurial community."

Steve Lerner and Lee Buck, prominent Chapel Hill entrepreneurs, have become actively involved as members of LaunchBox Digital's Board of Directors. Mr. Lerner has been an investor in and supporter of LaunchBox Digital since its inception. His increased involvement has been a catalyst for bringing LaunchBox Digital to RTP. Mr. Buck fills the Board seat previously held by LaunchBox Digital co-founder Sean Greene. Earlier this year Mr. Greene announced he would follow in fellow co-founder Julius Genachowski's footsteps and join the administration, where he is now the Associate Administrator for Investment and Special Advisor for Innovation at the U.S. Small Business Administration.

To kick start the LaunchBox-RTP program, LaunchBox Digital has added Chris Heivly to the team as Executive Director-RTP. Previously, Mr. Heivly founded the Triangle StartUp Factory, which is being folded into LaunchBox Digital. He has been an active supporter, facilitator and advisor in the RTP entrepreneurial community.

LaunchBox Digital is currently accepting applications for its fall 2010 program, which will be held in Durham, NC and will begin on August 31. Applications can be submitted online at http://www.launchboxdigital.com. Applications will be accepted until midnight on June 30, 2010.

Up to ten successful applicants to LaunchBox10 will receive seed investment and help in establishing and building their new businesses. During 12 intensive weeks in Durham, NC, they will benefit 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.

About LaunchBox Digital:
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 technology industry veterans John McKinley, Julius Genachowski, and Sean Greene, 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.

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