Manchester, NH, February 09, 2012 --(PR.com
)-- The first VentureX event was held in Manchester, New Hampshire on January 26th at the abi Innovation Hub. The event, VentureX - New England, attracted over 250 attendees including entrepreneurs, angel investors, venture capitalists, and other key members and friends of the New England startup community. The event offered a $30,000 grand prize to the winning startup from Wasabi Ventures. Competitor Mosaic Storage Systems won the $30,000 grand prize at VentureX New England: “We are honored to win the first ever VentureX competition especially with so many other great companies participating. We will use the prize right away to keep enhancing our product and to continue growing our business. We are very excited to work with Wasabi Ventures and to being a part of all the excitement that is happening at the abi in Manchester," said Founder, Gerard Murphy.
Mosaic Storage Systems was among nine other semi-finalists selected for a final pitch to event attendees: Conforme, Digital Harbor, EyeSpy, KYA Serve, MyBridalDream.com, Pokos Communications, Sumpto, Try It Network, and UVR Defense Tech, ltd. Each start-up had the opportunity to make their allotted space their own and gain the votes in the form of golden tickets from event attendees. This method ensured fairness and allowed attendees to either distribute tickets evenly across all start-ups or to highlight the start-ups they felt were the best.
Once the votes were cast, three finalists (Mosaic, MyBridalDream.com and Pokos Communications) were selected to appear in front of a panel of expert judges to answer questions about their company. Judges independently scored each of the companies based on their earlier pitches and final question and answer session. The take-away from the event was comprehensive feedback, expansive networking, and the exposure for the startups. Aaron Castill of KYA Serve said “The Venture X opportunity provided KYA Serve(TM) with valuable feedback on our product and marketing approach." Tia Lori Bergeron, Founder of MyBridalDream.com added: "Participating in VentureX New England was a very educational experience for us, and we were thrilled with the amount of exposure our company received by being selected to participate in this competition."
"VentureX was a tipping point for entrepreneurship here in NH. This competition was about identifying and funding exciting new technology startups, and we delivered. With an incredible turnout of over 250 people in attendance, I would say we have a lot to look forward to in the further growing of this ecosystem," says Jamie Coughin, CEO and Entrepreneur-in-Residence at the abi Innovation Hub.
"Wasabi Ventures prides itself on working day-to-day with start-up portfolio companies," said Tom Kuegler, managing partner. "We are excited to have Mosaic Storage Systems join our portfolio of companies that we are helping grow. We look forward to the next great VentureX event that we are a part of."
For more information on Wasabi Ventures or VentureX visit on the web at http://www.wasabiventures.com.
linkd.in/zlwqvU (The Startup Life, Group on LinkedIn)
About Wasabi Ventures:
Wasabi Ventures is a different kind of venture capital firm made up of three distinct, but connected aspects: Venture Capital, Startup Incubation, and Consulting. In other words: we fund entrepreneurs, we start companies, and we help existing businesses succeed. We take active operational roles in our portfolio companies by leveraging our dedicated staff of over 40 specialists. Our team of engineering, sales, marketing, analysis, legal, accounting, and management professionals can cover every one of a start-up's needs. We act as senior management to our start-ups and business consultants to those with companies who need our advice. We also provide investment capital and creative financing solutions to our chosen portfolio companies. We also create our own start-ups from scratch, via our incubator environment. If you have a business plan you would like to submit to us for review or you are interested in speaking to one of our partners about how Wasabi Ventures may help your company,
About abi Innovation Hub:
Providing affordable workspace and shared administrative and technological services and resources, creating a supportive entrepreneurial environment that stimulates the growth of businesses, ensures economic vitality for the community and encourages job creation. Our mission is to nurture high growth start-ups and create an environment where entrepreneurs have access to the resources, connections, experience, and capital to support the journey of putting ideas into action.