Austin’s Own Capital Factory

Joshua Baer wrote:

Do you know any entrepreneurs who could use $20k in cash, $20k in free stuff and 20 mentors to help launch their startup?

I need your help to get the word out to entrepreneurs about a program that may help them.

I am a mentor and investor in Capital Factory, a new seed capital and mentorship program in Austin. We’re choosing 3 startups to spend 10 weeks here to build their company. They receive $20k in cash, $20k in free stuff, and 20 successful mentors as investors. The 10 weeks end in August with a Demo Day to potential investors. It’s the mentor’s job to ensure they head in the right direction, and introduce them to potential customers and investors.

http://capitalfactory.com

This is an unbeatable opportunity for a technology-based entrepreneur to get an accelerated start, especially in tough times. The reason I’m emailing you is the deadline of April 3 to apply is fast approaching. I want any entrepreneur in your network to have the opportunity to consider this program.

Could you take a few minutes to forward this to your network? Or introduce me to someone who may be interested?

If you’re on Twitter or Facebook, please update your status with:
RT @CapitalFactory get $20k in cash, $20k in free stuff, and 20 mentors to help launch your startup http://capitalfactory.com (please RT)

I appreciate your help. Think of it as rebuilding our economy one startup at a time!

~Josh

4 comments

  1. So, where’s the legal fine print on their site? If it sounds too good to be true… then they will most likely own a large percentage of your intellectual property. Did anyone else notice legal beagles on the mentor list?

  2. I am very interested…but why would anyone hand over their “big idea” via. their website and be confident that their idea will not be stolen?

  3. You know, that’s a great question that we get asked a lot. Unfortunately, as you grow your company you’ll have many times when you’ll need to make a decision between risking that someone may abuse your trust and finding valuable customers, partners or investors.

    In fact, it’s happened to me before. I was talking to some VC’s about one of my businesses, only to find out 6 months later that they had funded another business that was very similar. If I had known that they were working on something that might be considered competitive, I probably would have declined to meet with them or would have shared less information with them.

    But you know what? If you’re going to be successful with something, you’re going to have to tell people about it and some are going to copy you. Getting a head start is great, but if that’s your only advantage then you really should be asking yourself if this is the right business for you to be doing at all.

    That said, we’re going to work hard to make sure that entrepreneurs feel comfortable about talking to us about their ideas. If rumors started going around about us stealing people’s ideas then we wouldn’t get many applications in the future. Plus, we all have other businesses to run! Your idea better be pretty damn good if it means I’m going to quit running OtherInbox to copy you! 🙂

    It probably does make sense to do some research before you talk to us – each of use has our own companies that we work for so it probably doesn’t make sense to pitch something that would be a direct competitor to one of the businesses that is run by one of the Mentors. But we’re not going to steal your ideas. If we saw an application that looked like a conflict we would eliminate it from consideration and destroy the company information immediately.

    I hope that makes you feel more comfortable. We have had almost 100 submissions so far and I’ve personally talked with dozens of entrepreneurs. It’s going to be a great experience and we’d love to consider your company for participation!

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