Irvine, CA, October 02, 2008 --(PR.com
)-- Wanzo, a startup company that strives to make kids more physically active, was selected by a panel of angel and venture capital investors as the “Best Investment Opportunity” before an audience of 150 people at the Survivor IV event presented by Tech Coast Venture Network (TCVN) last Thursday night at the Conference Center of Knobbe Martens Olson & Bear LLP in Irvine.
As the winner out of nearly 40 competitors, Irvine, Calif.-based Wanzo is eligible to receive $75,000 in free legal, marketing, IT development, consulting and numerous other services from leading Orange County companies, plus special recognition in the investor community. They will also have the opportunity to pitch to Tech Coast Angels, Pasadena Angels and the Silicon Valley chapter of The Venture Capital ~ Angel Roundtable, be a guest on The Frank Peters Show, and participate in OCTANe’s LaunchPad acceleration program.
“This is an incredible win for Wanzo,” said Rania Nasis, M.D., Wanzo CEO. “We believe our product will make kids more active by rewarding physical activity through an online social network. By winning Survivor IV, we greatly increase our funding opportunities to further our product development and market penetration.”
Survivor Forum investor panelists include: Robert Aholt, Pasadena Angels; Stephen A. Block, Tech Coast Angels and Venture Farm; Bob Holmen, partner, Miramar Venture Partners; George Kenney, managing director, Shepherd Ventures; Eric Manlunas, Frontera Group LLC; and Matt Ridenour, managing director, Momentum Venture Management;
The Survivor Forum moderator was Bart Greenberg, TCVN chairman and partner at Manatt, Phelps & Phillips LLP.
TCVN’s Survivor program is unique in that finalists are competing for prizes, primarily services contributed by local, value-added service providers, each of the type that is useful to any early stage company. Greenberg noted that many of these are the types of services for which the finalists would otherwise have to pay for in cash, thereby reducing their cash burn and extending their runway.
“It is our hope that our finalists will be able to use these prizes to advance to the next milestone, thereby increase their fundability, and have opportunities that would not otherwise be made available to them,” Greenberg said. “I am very pleased by the support shown to the entrepreneurial community by our prize sponsors and our participating panelists.”
Historically, the winners of TCVN’s Survivor programs can report an excellent track record in funding: each of the winners of Survivors I and II has been funded to date and two of last year’s Survivor III finalists have either been funded or have a term sheet for funding.
Wanzo is an Irvine, Calif. based startup that aims to tackle the growing problem of childhood obesity. Founded in 2008, Wanzo is developing a fun device that integrates aspects of video gaming and social networks to encourage children to be active by linking physical activity to a goal-based reward system. Wanzo is currently in the initial stages of product development.
TCVN Platinum Sponsors include The Bloomfield Group (http://www.bloomfieldgroup.com), Daly-Swartz PR (http://www.dsprel.com); Hall & Company (http://www.hallcpas.com), Jackson DeMarco Tidus Peckenpaugh (http://www.jdtplaw.com); Knobbe Martens Olson & Bear, LLP (http://www.kmob.com); and Manatt, Phelps & Phillips, LLP (http://www.manatt.com).
TCVN is a not-for-profit corporation dedicated to assisting, educating and connecting entrepreneurs and emerging companies with capital and resources. TCVN has been directly or indirectly responsible for the establishment and growth of a significant number of early-stage businesses.
Daly-Swartz PR for TCVN
Jeffrey Swartz, 949-470-0075
Rania Nasis, (856) 426-1828