The crowd watches the startup pitches at Thursday’s event. Photos by Michael Thompson.
After a batch of local startups pitched their ideas Thursday night, a pair of local investors announced a new effort aimed at making it easier for area entrepreneurs to access capital.
The six companies that participated in this years Lighthouse Labs’ three-month business acceleration program made their presentations Thursday night to a crowd at the 17th Street Farmers’ Market.
When the pitching was over, local investor Will Loving told the audience he and Brad Cummings of Monument Consulting were forming a group to connect early-stage companies in Central Virginia with a network of about 150 investors from the pair’s personal networks.
“We saw this need in Central Virginia,” Loving said.
Lighthouse Labs Executive Director Todd Nuckols
Added Cummings: “We’ll try to decrease the friction when it comes to raising money.”
The effort is still in its early stages, and Cummings said a formal company with a name is still in the works. Interested companies will have to submit information to Cummings and Loving to prove they are legitimate endeavors before the pair will introduce entrepreneurs to investors. He said about three companies have begun the process and more are in line.
Lighthouse Labs is a nonprofit that for the last three years has chosen a class of startups and provided them with no-strings-attached funding, business classes and mentorship. Each of this year’s participating companies got $20,000 without having to give equity.
The companies that presented for Lighthouse Labs last night were Major Clarity, an online platform to help students research careers; Occasion Genius, a website that connects party planners with events-related businesses; Research Unlimited, which helps researchers find participants for their studies; Zoozil, an online publishing company; Upchurch Chocolate, a craft chocolate bar maker; and Painless1099, a website that looks to help self-employed people with their taxes.
The crowd watches the startup pitches at Thursday’s event. Photos by Michael Thompson.
After a batch of local startups pitched their ideas Thursday night, a pair of local investors announced a new effort aimed at making it easier for area entrepreneurs to access capital.
The six companies that participated in this years Lighthouse Labs’ three-month business acceleration program made their presentations Thursday night to a crowd at the 17th Street Farmers’ Market.
When the pitching was over, local investor Will Loving told the audience he and Brad Cummings of Monument Consulting were forming a group to connect early-stage companies in Central Virginia with a network of about 150 investors from the pair’s personal networks.
“We saw this need in Central Virginia,” Loving said.
Lighthouse Labs Executive Director Todd Nuckols
Added Cummings: “We’ll try to decrease the friction when it comes to raising money.”
The effort is still in its early stages, and Cummings said a formal company with a name is still in the works. Interested companies will have to submit information to Cummings and Loving to prove they are legitimate endeavors before the pair will introduce entrepreneurs to investors. He said about three companies have begun the process and more are in line.
Lighthouse Labs is a nonprofit that for the last three years has chosen a class of startups and provided them with no-strings-attached funding, business classes and mentorship. Each of this year’s participating companies got $20,000 without having to give equity.
The companies that presented for Lighthouse Labs last night were Major Clarity, an online platform to help students research careers; Occasion Genius, a website that connects party planners with events-related businesses; Research Unlimited, which helps researchers find participants for their studies; Zoozil, an online publishing company; Upchurch Chocolate, a craft chocolate bar maker; and Painless1099, a website that looks to help self-employed people with their taxes.