Second Annual FUEL Akron competition
— Three local software startups emerged from a “shark tank”competition with $30,000 in investments and entrance into the Bit Factory, a startup tech accelerator in downtown Akron.
After each team presented and live negotiated with the “sharks” – three seasoned entrepreneurs and investors – the startups each received $10,000 in investment and entrance into The Bit Factory, located in the Global Business Accelerator on South Main Street. The event was sponsored by the Burton D. Morgan Foundation and was a part of Global Entrepreneurship Week.
FUEL is a pitch competition and live negotiation event created to help aspiring software startups launch new ventures and help them grow within The Bit Factory program:
- Convos, presented by Nick Jensen from Stow, earned a $10,000 investment in the form of a SAFE agreement through a negotiation to determine a valuation. Convos is a chat bot that attracts, grows and cultivates relationships with real estate agents through conversations that build trust to assist them in growing their real estate businesses.
- LineKing, presented by Mike and Ryan Varley from Chagrin Falls, earned a $10,000 investment in the form of a SAFE agreement through a tough negotiation to determine a valuation. LineKing is a mobile app that offers fast passes to your favorite places, no reservations required. It also allows businesses to make up for cancellations and no-shows by releasing open spots in real-time.
- myCall, presented by Lindsey Christman-Bollas from Akron, earned a $10,000 investment through the night’s toughest – and most entertaining – negotiation to determine a valuation. MyCall is a mobile app that provides a high-tech call system to healthcare facilities that enhances the patient experience and streamlines care by allowing patients to let nurses know what they need via a smartphone.
The three “sharks” were James Hilton, mentor and co-founder of The Bit Factory; Bill Manby, founder and managing partner of Acquire Investments and Sr. VP of TriPoint Global Equities in NYC; and Mark Terzola, principal at Leonard & Terzola law firm and chief strategy officer for Echogen Power Systems.
For info, visit www.fuelakron.com.