The Slow Revolution of Private Equity

Jobs Act, Title III, Crowdentials, Crowdfunding, Cleveland startupBy: Rohan Kusre, COO // Co-Founder, Crowdentials

After months of restless anticipation, there is finally some substantial progress towards the implementation of the JOBS Act. It has been exactly one month since the Title II rules- the ones based around general solicitation- went into effect and the SEC is moving forward with implementing the next portion of the monumental legislation.

Title III, the poster child of the JOBS Act, is focused around the sale of private equities in an open market. It is as groundbreaking for the industry as it is controversial in its own right. There are as many proponents of the crowdfunding bill as there are naysayers and today the SEC discussed the proposed rules that would provide the infrastructure for equity crowdfunding to take place.  Platforms such as EarlyShares have been waiting for these exact rules in order to set in motion their part in facilitating the sale of private securities.

There have been claims that equity crowdfunding will result in a ‘ghetto stock market’ due to the high risk of fraud and the low barrier to entry. There have also been concerns about the cost of properly keeping up with SEC regulations. Currently, an investment group will spend anywhere between $50,000 and $100,000 in due diligence and this begs the question of how such practices will be handled at a smaller scale for investments that will be under $20,000.

Well, where there is a will there is a way. Solutions are already in place for companies wishing to utilize the new legislation as the SEC continues to implement it. Companies like CrowdCheck provide quick and secure diligence reports while companies such as Crowdentials assist with making sure your investor is accredited among various other compliance needs. Sure, the waters of the JOBS Act regulations are currently a bit murky but there is a lot of money to be made within these environments and those that take advantage of it will be handsomely rewarded. So when can those interested to utilize the new legislations expect to be able to do so? This is where it gets a bit tricky.

Title II of the JOBS Act, which went into effect one month ago on September 23rd, and it allows for companies that are making a private security offering to be able to use public advertising in order to get the word out. While the JOBS Act itself was signed on April 5th, 2012, the SEC didn’t release the proposed rules until July 10th of this year. This seems to be an ongoing trend as the SEC has delayed the implementation of the whole act by several months multiple times.

There is hope that this trend will be broken as the SEC held a live webcast today where the commission discussed the rules surrounding equity crowdfunding. Once these rules are posted to the Federal Registrar (this usually only takes a few days), they will be open for comment and the ball will be rolling to get this brand new industry up and running.

With industry experts waiting to pounce on the opportunity to help out investors and entrepreneurs navigate through the dense regulations of the JOBS Act, those on the fence about joining the crowd should feel a sense of assurance in doing so. CrowdCheck, Crowdentials, and several other industry leaders are poised to iron out the wrinkles as more and more people get involved with Title II and Title III of the JOBS Act.

Ohio Accelerator FlashStarts Sets Demo Day September 23rd, The Big Day For Crowdfunding

Flashstarts, Startup Accelerator, Cleveland Accelerator, Demo Day, SEC regulations, General solicitation

Cleveland startup accelerator Flashstarts will show off their first cohort in an investor demo day set for September 23. This date was chosen for its significance to startups across the country. It’s the same day that the SEC’s new regulations allowing general solicitation go into effect. It will be the first time in 80 years that startups can publicly fundraise beyond geographic boundaries, paving the way for crowdfunding for equity.

“In most communities, raising startup money has been a process stuck in the 19th century, limited to fundraising from friends and a few local angels,” said FlashStarts CEO and Co-founder Charles Stack. “With these new SEC changes, entrepreneurs can now use all modern marketing techniques to connect with the nearly nine million accredited investors across the U.S.”

The regulations will have a significant impact on startups by removing the geographic barriers to capital that have traditionally made it more difficult for startups outside areas like Silicon Valley, Boston, or New York to grow and succeed.

On signing the JOBS Act last year that enabled these new SEC regulations, President Obama said, “[S]tartups and small businesses will now have access to a big, new pool of potential investors — namely, the American people.”

“As capital is allowed to flow to ideas and entrepreneurs—regardless of distance and location—the country will enjoy a true national rebirth of capitalism, along with job and wealth creation,” said Stack.

One of the Flashstarts accelerator companies, Crowdentials, is deeply impacted by this change in the regulations. Crowdentials will provide a compliance platform to make sure those that use crowdfunding are doing it legally and within the regulations set forth by the SEC.

Here are the other nine startups graduating from Flashstarts on September 23rd.

AProofed allows writers and editors to collaborate with each other in a marketplace environment. The online cloud-based platform allows editors to become self-employed while improving writers’ academic performances.

BOLD Guidance navigates students through college applications and allows counselors and parents to view their progress. The online platform and app makes the college application process easier with step-by-step guides and automated deadlines, tasks and reminders specific to each application. www.boldguidance.com

The BranDR is committed to helping physicians create and maintain their personal brand identities online. Its mission is to revolutionize the way patients find, select and interact with their doctors, by allowing them to access personalized doctor profiles. www.thebrandr.com

Curiosidy is a new online platform for sharing and promoting life’s meaningful experiences. Users can write about experiences that have shaped them and draw inspiration and insights from a passionate, global community. curiosidy.com

LegalFunnel helps lawyers meet and engage with targeted clients through efficient lead generation and personalized online branding. www.legalfunnel.com

Ohio Independent Cinema strives to inspire an appreciation for independent films by making them more accessible for the general public. The company provides a new distribution option for independent filmmakers.

Smooth is a sophisticated, yet simple personal finance app currently in development. The program generates personalized recommendations that help users improve their standard of living and offers incentives for users to follow the recommendations. www.smoothplanner.com

Synthetic Intelligence sells Big Data cloud and consulting services. The company “makes Big Data go faster”.

RegulatoryBinder.com, a product of Trailhead CFR, is a web application for managing regulatory documents of physician-sponsored clinical trials. The app is the only platform that instantly enables physicians to coordinate a clinical trial without additional procedures or risk.

FlashStarts’ 2013 Demo Day will take place from 11:30 a.m. to 1 p.m. EST on September 23, 2013. Guests can attend in-person at the NPR IdeaStream Westfield Theater in Cleveland, Ohio, or online via live Internet broadcast. In-person attendance is limited to 250 seats and virtual online attendance is limited to 2,500 viewers. To request a ticket or learn more, visit www.flashstarts.com/demoday.

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Columbus Entrepreneurs Sparking Innovation With Sundown Rundown Events

SundownRundown, Columbus startups, startup events, startup interview

With a name like Paul Proffitt, it’s easy to picture this Columbus-based entrepreneur helping people make money. He just wants to make sure it’s done the entrepreneurial way. In an interview Proffitt told us that he’s been a lurker in Columbus, Ohio’s tech community since the 90’s, when he worked with the now defunct Talon New Media Ventures and OnVentures incubators. Since then Proffitt has been working in higher-ed and digital marketing.

In 2006 though, he got re-bitten by the entrepreneurial bug when his team took second place at the OSU business plan competition for a biodiesel startup. Nowadays you can find Proffitt at Columbus State Community College where he is an adjunct faculty member and being a judge and mentor for the OSU Business Plan Competition. With all that experience Proffit wanted to do something even more.

Proffitt has created a monthly pitch focused startup event called Sundown Rundown. These aren’t business card pushing events. Sundown Rundown calls for 5 minute pitches with 5 minutes of feedback, and startups are vetted in advance. Sundown Rundown connects investors, mentors, and talent across the Columbus region.

We got a chance to talk with Proffitt about Sundown Rundown.

What does your company do?

We are a monthly evening business idea pitch event series that connects entrepreneurs with investors, mentors, and talent to help get their companies to the next step.

Who are the founders, and what are their backgrounds

Paul Proffitt – A lurker in the Central Ohio Entrepreneurship scene since the late 1990s who had worked with now defunct Columbus based incubators Talon New Media Ventures and OnVentures. Got bit by the entrepreneurial bug in 2006 when his team took second place at the OSU Business Plan Competition for a biodiesel startup. Besides having full-time gigs in higher-ed and in digital marketing, he spends his remaining professional time being an adjunct faculty member at Columbus State Community College and acts as a judge and mentor for the OSU Business Plan Competition.

What’s the startup scene like in Columbus?

Its growing. There was some progress in the late 1990s, but the dot com bubble forced a reboot in the early 2000s. The state figured they needed to diversify their economy and created the Third Frontier Fund and state money backed, private non-profit incubators started popping up.

At best the startup scene is fragmented. A lot of attention is paid to those low investment, potential high return software based startups and capital intensive, long development medical and bio tech. Nothing solid right now in the middle, small to mid-sized business startups.

What problem do you solve?

Trying to defragment the scene and get a self-sustaining community running in Central Ohio to help bring good business ideas to the forefront regardless of their industry.

Why now?

It feels right… if you take your shoes off and stand in the grass you can feel the karma starting to align in Central Ohio… it could go good or bad at this point… say the same set of factors happen around the 2000s. I kind of want to help put Central Ohio in a position this time for something good to happen and not have another reboot that will take another 15 years to get to another make or break point.

What are some of the milestones your startup has already reached?

We’ve established credibility in the Central Ohio entrepreneurial community as something that can be trusted to give people a fair shake at getting an idea out into the community. Showing we don’t play favorites for people who come in and pitch. We’ve got an audience that shows up and we have interest in people wanting to pitch their ideas each month.

What are your next milestones?

Keep growing…. The bar we hold the event at holds, 150 people. We would love to have to find a bigger place at some point.

Get funding for this events. We do it on a shoestring and right now the rental for the space is the biggest cost.

Where can people find out more?  

http://sundownrundown.org

Checkout this huge national startup event in Cincinnati Ohio.

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Image: sundownrundown.org

Nashville Is Great. Ohio Is Too. This Guy Is Oblivious.

Cleveland Startup, Nashville Startup, startup, startups, Ohio, Tennessee

On Saturday, the Cleveland Plain Dealer ran a guest post by Dr. Jeffery Canter. Canter is a retired professor of molecular physiology and biophysics at Vanderbilt University Medical Center and a consultant for many healthcare startups in Nashville.

Apparently Canter lived  in Ohio before Nashville. In his piece Canter criticizes Ohio as a whole and offers a laundry list of tips to keep it’s talent, which he says Ohio is giving to Tennessee for free. All of this is based on people Canter has met who relocated to Nashville to launch their businesses. Canter makes a point that Ohio has paid for these people twice:  “First, you paid for educations that were far better than ones these new Tennesseans would have received in Nashville. Second, these productive young people removed themselves from your tax base and left you behind to pay even higher taxes.”

At Nibletz our mission is clear: to give a voice to startups everywhere else.  With offices in both Memphis and Cincinnati, we know a lot about the ecosystems of each state.

Tennessee has an impressive startup ecosystem. They were the second state region in the Startup America Partnership. There are 9 accelerator regions across the state that are administered by a public private partnership called Launch Tennessee. There are several incubator and accelerator programs, with the biggest being GigTank (Chattanooga), Jumpstart Foundry (Nashville), Seed Hatchery (Memphis), and Zeroto510 (also Memphis).

If you think there’s a lot of entrepreneurial and startup activity in Tennessee, you’re absolutely right, but some believe that Ohio has even more going on.

For starters the Brandery in Cincinnati is one of the top 10 startup accelerators in the country. Cincinnati also has the new Cintrifuse initiative, CincyTech for capital, and regularly holds events like Startup Weekend.

Traveling north, Columbus also has it’s share of exciting startup activities and initiatives. Columbus is home to not one but three accelerators; 1492, 10x, and the Founder’s Factory. TechColumbus is one of the driving forces behind the startup scene, and there are also plenty of resources for capital.

Move a little further north to Cleveland and there’s still NO shortage of startup activity. In fact the nationwide non-profit startup acceleration organization, Jumpstart Inc, is headquartered in Cleveland. Then again there’s not just one but two startup accelerators: LaunchHouse and the new FlashStarts founded by Cleveland serial entrepreneur Charles Stack.

 

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So, what makes a good ecosystem?

Gary Hardin at Knoxville startup BounceIt tweeted us the other day, after we ran Entrepreneur Magazine’s 7 best places to startup. Hardin thought that Tennessee should be on that list because there’s no income tax. Makes logical sense, right? Maybe.

As all of our readers know, during the nationwide sneaker strapped road trip, we’ve seen nearly 100 different startup ecosystems in person and are often asked where would we move if we could go anywhere. We chose Memphis, and at that time we had no idea there was no income tax in Tennessee.

When a startup chooses an accelerator or to relocate for one reason or the other, it’s typically resource or industry related. Nashville is hot for medical devices (you’re probably thinking music, but medical devices definitely prevail). If I needed help with branding, I’d move to Cincinnati; automotive, yes we’d still move to Detroit, Government relations or government sales, DC and so on.

Native Memphian Sarah Lacy penned a column just days after her trip to Nashville’s Southland conference entitled “Memo to non-Valley, non-NYC ecosystems: No one you want cares about cost of living.” And guess what, they don’t. Facebook Co-Founder Dustin Moskovitz also says he wouldn’t move somewhere just for optimized taxes. In fact he said this 13 months before Lacy’s article.

Are the Plain Dealer and Dr. Canter just oblivious to what’s going on around them in the startup space?

There are two certain things certain in life: death and taxes. In general, startups are oblivious to both.

Where ever you are, you need to make plans to attend this startup conference for startups everywhere else.

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Image credits: Nashville  Cleveland

These 11 Startups Have 6 Weeks To Go In Cleveland’s New FlashStarts Accelerator

Flashstarts, Cleveland startup, Cleveland accelerator, Charles Stack

Earlier this year Cleveland serial entrepreneur Charles Stack decided to launch a startup accelerator. Stack is credited as one of InfoWorld‘s “top 10 innovators in e-business.” Stack’s first company provided asbestos case management for law firms and was launched in 1984 immediately after his graduation. When he sold that company he had the capital to start his first e-business “books.com” which was eventually acquired by Barnes And Noble. Stack was early to the e-commerce and online bookstore space, having sold books.com in 1996.

Stack’s most recent venture, FlashLine, was acquired by BEA for $50 million dollars in 2006 and then acquired again in 2008 by Oracle. Stack’s story is a huge attraction for entrepreneurs and founders across Ohio and across the country.

With more and more startup accelerators popping up, entrepreneurs and founders are seeking out accelerators which have a pedigree in starting businesses. No one wants to get accepted to a 3 month program with a small seed investment to find that the people teaching the accelerator have no entrepreneurial experience.

With that in mind, Stack and hist team announced the FlashStarts accelerator in January.

Jennifer Neundorfer, FlashStarts Managing Partner, also comes to the table with meaningful experience. She comes from a role as Fox Networks Director of New Business Development where she helped create and launch the Dyle Mobile TV network, which PC Magazine called a “promising technology”.  Neundorfer holds a BA from Harvard and an MBA from Stanford she is also Google/YouTube alum.

While Cleveland may not come to your mind as a startup hotspot, it is quickly becoming one. They have the LaunchHouse and Jump Start are both based in Cleveland. We’ve met many great entrepreneurs in the Cleveland startup ecosystem, and the 11 startups in this class at FlashStarts are no exception.

These 11 teams will graduate from their rigorous program on August 27th, and Neundorfer already asserts they are exceeding expectations:

 

Anigraphic

Anigraphic is re-imagining the graphic novel.  Its unique platform enables graphic storytellers to make use of interactive scene-based panels, text options, audio and sound libraries, and animation sequences.

Aproofed

AProofed allows writers and editors to collaborate with each other in a marketplace environment. The online cloud-based platform allows editors to become self-employed while improving writers’ academic performances.  www.aproofed.com

BOLD Guidance

BOLD Guidance navigates students through college applications and allows counselors and parents to view their progress. The online platform and app makes the college application process easier with step-by-step guides and automated deadlines, tasks and reminders specific to each application. www.boldguidance.com

BranDR

The BranDR is committed to helping physicians create and maintain their personal brand identities online. Its mission is to revolutionize the way patients find, select, and interact with their doctors, by allowing them to access personalized doctor profiles.

crowdentials

Crowdentials helps businesses, investors and crowdfunding platforms comply with the Securities and Exchange Commission’s rules on equity crowdfunding. By completing a simple web form, Crowdentials users receive a report of their financial information and compliance status.   www.crowdentials.com

CuriosidyLogoFinal

Curiosidy is a new online platform for sharing and promoting life’s meaningful experiences. Users can write about experiences that have shaped them and draw inspiration and insights from a passionate, global community. curiosidy.com

LegalFunnel Logo Text 2

LegalFunnel helps lawyers meet and engage with targeted clients through efficient lead generation and personalized online branding.

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Ohio Independent Cinema strives to inspire an appreciation for independent films by making them more accessible for the general public. The company provides a new distribution option for independent filmmakers.

smooth

Smooth is a sophisticated, yet simple personal finance app currently in development. The program generates personalized recommendations that help users improve their standard of living and offers incentives for users to follow the recommendations.

 

Synthetic Intelligence sells Big Data cloud and consulting services. The company “makes Big Data go faster”.

Trailhead_logo

RegulatoryBinder.com, a product of Trailhead CFR, is a web application for managing regulatory documents of physician-sponsored clinical trials. The app is the only platform that instantly enables physicians to coordinate a clinical trial without additional procedures or risk.

You can find out more about FlashStarts here.

This conference is the best conference for startups everywhere else.

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Ohio Startup Crowdentials Launches Crowdfunding Compliance Platform

Crowdentials, Ohio Startup,startup,crowdfunding

Crowdfunding is the hottest space for startups right now. And now, with changing regulations, it could get even hotter.

The Jumpstart Our Business Startup Act was passed over a year ago, paving the way for crowdfunding startups to offer equity. After the bill passed in both the Senate and the House it was then referred over to the Securities And Exchange Commission (SEC) to come up with the regulations for crowdfunding.

The JOBS Act has a lot of regulations to follow, including the fact no individual making less than $100,000 can invest more than $2000 or 5% of their net worth. Crowdfunding is going to spawn a whole new type of investor and there are currently no regulatory software programs out there. That’s the guts behind Crowdentials.

Richard Rodman, the cofounder of Crowdentials, spoke about crowdfunding in February at the Everywhereelse.co Startup Conference in Memphis. He founded the company with Chief Operating Officer Rohan Kusre and Chief Technology Officer Max Heckel. The three came up with the idea for Crowdentials in April and were recently accepted into the Cleveland-based FlashStarts’ startup accelerator program.

While the SEC is still finalizing its regulations, the Crowdentials technology is ready to go. “Our compliance solution is all variable-driven and will adapt to any regulations put forth,” Rodman said in a statement. Once the regulations are officially complete, the entrepreneur plans to launch “within minutes.”

In the meantime, Crowdentials is preparing a collection of multi-media resources and guides for both crowdfunding rookies and experts. In addition to teaching the basics, the comprehensive suite will cover the nuances, regulations, risks, and opportunities associated with equity crowdfunding.

Crowdentials’ technology ensures that investors, businesses, and platforms are following the SEC’s rules.  According to Rodman, “Crowdentials is the vital link between the SEC regulations and all crowdfunding parties”.

Individuals who gain compliancy through Crowdentials can trust that they are abiding by the regulations, and startups can feel confident that they are raising money through compliant individuals. Rodman believes the SEC’s regulations are meant to protect the new crowdfunding population from fraud and financial distress. “That’s why compliance is so important,” the entrepreneur said. “When everyone is aware of their level of compliance, we can make more educated investment decisions.”

Crowdfunding has spawned hundreds of crowdfunding sites that will help connect would-be investors to startups and other small businesses’ needing funds. Now startp founders are finding ways to support the crowdfunding economy. Cowdfunding vetting companies, insurance companies, and even discovery companies have all popped up over the past year with more expected when the rules change to allow equity investments.

In the meantime feel free to check out Crowdentials at crowdentials.com

7 key elements of a successful crowdfunding campaign.

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Columbus’ 10x Startup Accelerator Now Taking Applications For Fall 2013

10x accelerator, Columbus startup,startup accelerator, startup news

Columbus’ cohort-based startup accelerator, 10x, is gearing up for their 2013 fall session. The accelerator, started in 2011, has successfully accelerated startups like UFunded, Ribbon, and LaunchGram, which was acquired in February by Referly.

10x takes 10 startups for 10 weeks and seeds them with $20,000 in seed funding, office space, and a strong mentor network. The class will “graduate” at the end of 10 weeks with an investor day held in Columbus.

“Perhaps the greatest value teams will receive from the 10x program is the mentor network comprised of successful entrepreneurs, CEOs, VCs, and business veterans from the startup world,” Brooke Paul, Founder of Founders Factory and a director of the 10x program told metropreneur.com. “10x alums have effectively leveraged our mentor network for follow-on funding, access to customers, and more.”

10x’s mentor network includes people like Eric Corl, founder of Fundable, Ben Blanquera, founder of TechLife Columbus, and Mark Kvamme founder of Drive Capital. 27 startups have gone through the 10x program and have collectively raised over $9.4 million in follow on funding.

The next session begins September 4th and will run for 10 weeks. Startups interested in applying can use this application. The application deadline is July 14th.

Find out more about 10x here.

 

Bob Metcalfe, the inventor of ethernet, is speaking at this accelerator demo day in Chattanooga.

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Drive Capital’s Mark Kvamme: Brandery Is One Of The Best Accelerators Outside SV

The Brandery, Mark Kvamme, Drive Capital, Cincinnati startups, accelerator

Mark Kvamme, Co-founder and Partner at Drive Capital and a former partner at Sequoia, is high on startups and entrepreneurs outside of Silicon Valley. Kvamme, a life long Valley guy, moved out to Columbus, Ohio, to start Drive Capital and help spur innovation “everywhere else”.

Appearing on a panel Wednesday afternoon at the Southland conference in Nashville, Tennessee, Kvamme defended the hustle outside of Silicon Valley.

“I know people here in Nashville, I know people in the midwest that I think actually work harder than Silicon Valley people. Because Silicon Valley people are all into the appearance of what I’m doing versus actually getting down and “gettin’ ‘er done,” Kvamme said in response to a question from panel moderator and Solidus Partner Vic Gatto.

Gatto had eluded to the fact that he feels that some entrepreneurs in the Southeast don’t hustle the way people in the Valley do because there is no competition.

Through Solidus, Gatto funds multiple accelerators in Tennessee including Nashville’s Jumpstart Foundry and Memphis’ Seed Hatchery. Earlier in the discussion Gatto had brought up accelerators so Kvamme took the opportunity to talk about one accelerator in particular: the Brandery.

Most Nibletz readers know that our co-founder Nick Tippmann has been through the Brandery with two different startups, and we work out of the Brandery facility in Over The Rhine when we’re in Cincinnati.

During the panel Kvamme spoke very highly of the Brandery calling it “one of the best accelerators outside Silicon Valley,” in effect putting The Brandery in league with Techstars and MassChallenge.

Kvamme said he just funded a company out of The Brandery, as did Khosla and Tony Hsieh. He goes on to say that the Brandery is successful because of the ecosystem that surrounds it, and that the ecosystem could be replicated in Nashville and pretty much everywhere.  Check out the video clip below:

 


We’ve been tracking The Brandery, and their companies, heavily over the last two years. Check out more of our Brandery coverage here.

Here’s more from Southland.

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Startup Weekend Heads To Columbus In A Pre-SXSW Extravaganza

Startup Weekend is headed back to Columbus Ohio this weekend, as a pre festivity to the huge startup mega festival we all know and love, SXSWi. In fact, the Ohio area Startup Bus is leaving Sunday from Ohio.

This weekend will pit together entrepreneurs, startup founders, developers, designers and mentors to see what Columbus can hack together in just one weekend.

The Startup Weekend crew in Columbus is one of the most seasoned. We got to meet a few of them at Cincinnati’s startup weekend event last summer. This one is being organized by Startup Weekend veteran; Suzy Bureau, by day she does marketing & communications for Columbus startup Bringshare; Serial Entrepreneur Steve Gacka; and Brian Billingsley the Director of Strategic Business Development at Allaince Data Systems.

Startup Weekend Columbus, Startup Weekend,startup, eventStartup Weekend Columbus holds events every six months and they always have great attendance. This weekend’s event will be held at TechColumbus (1275 Kinnear Road). It will kick off with registration at 6:30pm on Friday night and will end with final pitches on Sunday at 5:00pm. All is expected to be wrapped up by 9:00pm, and then the weekend is done (unless you’re heading down to sxsw).

Dan Rockwell, the cofounder of Big Kitty Labs and Program Manager of the software prototyping center at Ohio State is the featured speaker.

At around 7:30pm the “Friday Night” pitches will begin. We’ve covered a lot of startup weekends and you can see plenty of Friday night pitches here at nibletz.com.

The Friday night pitches are 60 seconds and hard timed by a Startup Weekend official. In that 60 seconds you need to sell the audience your idea and why it should be built over the next 53 hours.  After everyone who wants to pitch has been given the opportunity, community voting will commence. It’s a rather diplomatic process. Usually the pitchers will hold up a sign with their startup name on it and attendees will put a sticker on the idea they like the best. At the end of the process, those with the most stickers will have their ideas developed.

Friday evening typically tops off with team selection and then some icebreaker time with the teams. From there the teams break off and start working on the startup idea.

Saturday, the community mentors come into play. These seasoned entrepreneurs and local business folks are there to help answer questions for each team and provide ideas and suggestions. The mentors for Startup Weekend Columbus are: Tanisha Robinson, co-founder of TicketFire; Nick Seguin, Partner at Dynamit; Patrick Pohler, Founder at Anecka; Brooke Paul, Founder at Founder’s Factory & Taivara; Alan Gilbert, Vice President of Engineering at CoverMyMeds;  and Matt Scatland, co-founder at CoverMyMeds and President at Innova Partners.

We also have it on good authority that Kyle Sandler, Co-Founder and Content Director of Nibletz.com The Voice Of Startups Everywhere Else, and the founder of everywhereelse.co The Startup Conference, the largest startup conference in the world dedicated to entrepreneurship outside the valley, and Nick Tippmann the co-founder and CEO of nibletz.com will also be in attendance..hmmm.

Saturday is also the day that most teams take to the streets, the phones, the emails and the interwebs to get customer validation on their startup project. All the while designers, developers and coders are working on pitch decks, wire frames, prototypes and products.

Sunday is the day the teams put the finishing touches on both their products and their presentations. At 5:00pm and not a second later, the selected teams will have five minutes to pitch their idea and have a brief Q&A with the judges.

For more info on Startup Weekend Columbus or to register click here

Cleveland’s Bad Girl Ventures Announces New Class Session And $25,000 Contest

Bad Girl Ventures, BGV, Ohio startups, women startupsWomen in tech and women in startups are quickly becoming a big thing across the country. Everywhereelse.co The Startup Conference, is featuring a panel called “Kick Ass Female Founders From Everywhere Else”. Women’s entrepreneurial initiatives are popping up all over the place as well, like Memphis’ Upstart Memphis.  Even young women are seeing more opportunities with things like Black Girls Code.

In Cleveland Ohio, Bad Girl Ventures is offering an educational series targeted to women and the opportunity to win a $25,000 low interest business loan. While some may gawk at the word “loan”, if you’ve been through the fundraising process, loans can actually be a better way to get early stage funding rather than giving up equity that can prove costly down the road.

Bad Girl Ventures, based in Cleveland, is taking applications for their next educational session, through next week. The application deadline is January 31st.

Bad Girl Ventures is a micro-lending organization that selects 10 entrepreneurs to participate in a nine week business course every spring and fall at no charge.  The course offers mentorship, and curriculum which includes how to run a business, create a business plan, pitch and more. It’s put on in conjunction with Cleveland State University and CSU students, faculty and alumni serve as mentors, coaches and facilitators.

“Past participants say networking is one of the most valuable takeaways from the course,” said Reka Barabas, Director of Bad Girl Ventures Cleveland said in a statement. “In addition to education and possibly funding, our participants walk away with a business plan and 50 to 100-plus connections. This helps prepare them for growth whether they’re awarded the loan or not.”

“We select women entrepreneurs across a range of industries who demonstrate strong leadership capabilities,” said Barabas. “We encourage all applicants to research their business ideas and share details about the target audience, competitive edge and likelihood for success of their products/services.”

Women owned startups less than five years old are eligible to win the $25,000 low interest loan and free tuition for the course, although anyone is able to register for the course at $35 a session and $225 for the entire course.

Bad Girl Ventures has helped over 200 entrepreneurs and facilitated $115,000 in loans since 2011.

For more info visit badgirlventures.com

See the Kick Ass Female Founders from everywhere else panel and more at everywhereelse.co The Startup Conference, for more click here.

Columbus Startup: AboutOurWork Disrupting The Chamber’s Networking Events

Aboutourwork,Ohio startups,Columbus startup,startup interviewI’m going to go out on a limb here. I’ve been to several Chamber of Commerce events at cities across the country and for the most part their networking mixers suck. Not much real networking actually happens at business after hours events, business before hours events and holiday parties. Most Chamber of Commerce network events are a huge circle jerk and ego strokes for people that already know each other. In fact in most cases you’ll find more cliques at a Chamber of Commerce mixer than you will in the cafeteria of your favorite middle school.

With everyone being so deeply entrenched in the internet, we’ve been waiting for a startup to come along and offer what most Chamber’s of Commerce charge hundreds of dollars for, real networking, real introductions. Sure LinkedIn is great, but again most of LinkedIn is built on who you already know. Even when you might kind of know someone or you want to meet someone you heard about but “didn’t do business with”, LinkedIn discourages it.

Well a Columbus startup called AboutOurWork has created a new network connections platform that promises to link small businesses (and startups) with other small businesses (and startups).

Co-founders David Hungenaw and Brooke Paul are serial entrepreneurs, both with successful exits. Now they are setting out to solve a problem no one wants to talk about (but I just did), finding a way for small businesses (and startups) to actually network.

We got a chance to talk to Hungenaw about his startup that’s disrupting the Chamber of Commerce mixer.

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Ohio Startup: 530Funds, Sorting Out The Crowdfunding Space For Everyone Else

530funds,Ohio startup,crowdfundingEver since the first non music related project went on the Kickstarter platform, crowdfunding has grown to new heights. After the JOBS act was passed last year, it became a blistering inferno of new startups, companies and websites. If you were looking for a good crowdfunding solution on Google you would come up with over 9 million results. Now there are new startups out there like StandOffer, and Athens Ohio startup 530Funds which are helping to make the crowdfunding space, easier to navigate.

530Funds opened up their beta on November 12th and are continually iterating to make the site exactly what the crowd needs, offering good information about available crowdfunding options.  One of the main obstacles they have to overcome in building a platform like this is that every time they release another version, 10 more crowdfunding sites have popped up.

Also, at the present time, crowdfunding for equity is still not legal. Although the legislation is passed we are still waiting for the SEC to develop the regulations around crowdfunding for equity up to $1 million dollars. We interviewed a startup last Friday, from Richmond, called LendingClouds, that has sidestepped the SEC by offering royalties instead of equity.

We spoke with Richard Rodman, the founder of 530Funds. Check out the interview below.

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Columbus Startup: Objra Provides An Easy Do It Yourself HTML 5 Platform

Objra,Columbus startup,startup interviewA one man startup in Columbus Ohio called Objra is making it easier for people with just a little bit of graphics experience to reach past animated gifs and do actual animation renders using HTML5.   Objra’s founder Eddie Bowen created Objra after noticing the poor methods used to share graphics on sites like Reddit.

“It struck me that jpegs and gifs are terrible ways of sharing graphics, but there isn’t an easy alternative. It’s just one step from rendering vector graphics to animating vector graphics. Then a light bulb went on and I realized I was fumbling towards a great design product.” he told nibletz.com in an interview. With that Objra was born.

For lack of more technical verbage, Objra allows anyone to get to their website and create animations using simple drag and drop placement. You can watch the animations render before your eyes, edit, and change whatever you would like before downloading them to share. If you’re on a budget or looking for something fast and easy, Objra may be the way to go.

We got a chance to talk with Bowen about Objra. Check out our interview below.

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