It’s not exactly “Shark Tank,” but it could be quite interesting even without Mark Cuban and other zillionaire TV stars on hand.
On Wednesday, March 4, Launch Greensboro – the entrepreneurship initiative of the Greensboro Chamber of Commerce – will hold its annual pitch competition for entrepreneurs at Union Square Campus at 124 E. Gate City Blvd. in Greensboro from 4:30 p.m. to 7:30 p.m.
Capital Connects is an event that exposes promising business ventures to area funding sources. It tries to be a bridge between investors and entrepreneurs who are seeking capital for their companies.
This year, more than $20,000 in cash and in-kind services are up for grabs, including $7,500 for the winner of the six-minute pitch competition. It’s not all about the money, though – it’s also about who connects with who that day.
There will be other things going on at the March 4 business-focused event as well. For instance, Launch Greensboro’s Entrepreneur of the Year Award will be presented.
Jennifer Hensel, the assistant director of Launch Greensboro, said the event is meant to support businesses and said it has helped many in the past.
“The real purpose of Capital Connects is to provide a place for entrepreneurs and investors to meet, discover opportunity and commonality, and begin forming a relationship,” she said. “It is an exciting event, and has a proven track record for helping support the growth of companies – especially when entrepreneurs are prepared to leverage the network they create that day.”
Previous Capital Connects participants have collectively raised more than $9.5 million from investors.
According to a press release, Hensel and her team provide extensive pitch preparation beforehand to ensure that the presentations are in form by the time judges and investors hear them.
The judges are volunteers with experience in starting, growing and funding businesses.
At the Capital Connects March 4 event there are two pitch competitions. A two-minute lightning round for seed-stage businesses and a six-minute pitch for Series A-stage businesses.
The two-minute competitors this year are Empasta, FanPark, Postbiotic Labs, Stemz, Stitch Partners and Yay! Brand.
The six-minute pitches will be given by Advanced Hydrogen Technologies Corp., Ascend, BarricAid Tech Group, Percensys CORE Learning, Proodos, Suite IQ and Threat Sketch, LLC.
