May 6, 2016
This article is brought to you in partnership with Startup Palm Beach.
On Friday, May 13, Startup Palm Beach will host the second annual Crowdfunding and Cocktails in partnership with the City of West Palm Beach and the Downtown Development Authority. Crowdfunding and Cocktails is an in-person crowdfunding event that recognizes talented early-stage startups in Palm Beach County and allows the community to participate in the companies’ success.
Anyone interested in supporting local small businesses can join to hear ten companies compete for funding. The companies, selected by community leaders from an applicant pool from across the state, will give a two-minute Shark Tank–esque pitch and try to convince the general public to support their new venture. Crowdfunding and Cocktails – now in its second year – inspires entrepreneurs, and is part of the economic development plan to catalyze new startups.
How Crowdfunding and Cocktails Works
Attendees purchase a $100 event ticket and receive the money back in the form of ten branded $10 bills. During the event, guests will hear pitches from ten featured startups, who have applied and been vetted by a committee of community leaders. The audience can then decide to allocate some or all of their branded funds to the startups of their choice. During the inaugural event, more than 100 non-equity funders participated and Startup Palm Beach gave away $10,000 in startup funding.
“The chance to participate and compete in the Inaugural Crowdfunding and Cocktails proved to be invaluable to the start up of Live Advantage Bait LLC,” says Live Advantage Bait founder and CEO Nicole Kirchhoff, “The event brought much needed recognition to my venture and the funding I won was integral to completing the pilot scale project to prove commercial potential and feasibility.”
Downtown West Palm Beach: Rising Startup Ecosystem
Downtown West Palm Beach is a hotbed for entrepreneurship. Whether it is small business entrepreneurs opening retail shops and restaurants, or tech driven software and hardware startups, this hub of some 105,000 people is one to consider if you are launching a new company, not only because it is a stone’s throw away from some of the world’s most beautiful beaches, but also because of the strong sense of community.
Startup Palm Beach is a public-private partnership and entrepreneur resource center in West Palm Beach. The organization catalyzes new business and helps existing entrepreneur support organizations strengthen the entrepreneur ecosystem. In addition to hosting regular meetups and marquis hackathons and startup weekends, Startup Palm Beach helps provide free coworking space, advice, and connectivity to anyone interested in entrepreneurship.
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