(3BL Media / theCSRfeed) August 16, 2011 - Finding the next ZipCar
Hundreds of applicants have applied to present their business pitch in hopes of raising between $250,000 and $3,000,000 from a group of over 150 investors attending the Investors' Circle Fall 2011 Venture Fair this October 27th in Philadelphia. Attendees don't have to be a member of Investors' Circle - but they should be an accredited investor or advisor and, as Nick Flores, Director of Investments and Entrepreneurs Services notes, "Looking for the next ZipCar". Companies considered for funding must be able to show, with strong and specific indications, that they are set to make both a profit as well as serious social and or environmental impact. Not only did ZipCar receive funding from IC, other well-known companies like Niman Ranch and Numi Tea raised significant capital with IC as well.
One of the key aspects that differentiates this venture fair from others is that the investors go directly into a restricted room to discuss the opportunities they've just seen, in what is called "The Investors' Circle Deal Debrief." Interest is tallied throughout the day via a mobile platform developed for IC by Socratic Technologies and then deal leads are quickly established to get the ball rolling. In fact, due diligence meetings are even scheduled to begin the next morning over breakfast. This process is clearly working. "One-third of our presenting companies from the Spring Venture Fair have already received funding. Compared to an industry average of 5-15%, this is a notable improvement over our already decent historical average of 25%," says Flores.
The application deadline for applicants just passed (on August 5th), so for now, IC is working its way through the many inspiring company profiles, only about 15 of which will be invited to pitch. Although presenting company names are not disclosed ahead of time to the public, teaser profiles will be posted here on October 10th. And if you're looking to invest in what might actually be the next ZipCar, attending the venture fair is recommended.
Press is invited to attend the Venture Fair and can email us for a complimentary pass. Interviews with presenting Entrepreneurs will be available.
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