LaunchBox Digital is a seed-stage investment program helping entrepreneurs maximize their chance of success through hands-on mentorship. Once a year, we select 7-10 teams out of hundreds of applications to participate in LaunchBox. These teams receive:
- $20,000 in seed funding
- 3 months of unparalleled mentorship
- Demo Day: the chance to pitch to over 100 venture capitalists and angel investors at the conclusion of the program
We believe that mentorship for early stage companies is key to success. Therefore, every chosen company is assigned a Board of Advisors within the first of week of the program, consisting of some of the best minds and most successful entrepreneurs on the East Coast. The companies meet with their Boards weekly to show the progress they have been making, listen to the feedback and guidance from their Boards, and set objectives for upcoming weeks.
Learning from those who have already taken the reigns and have built companies from the ground-up is invaluable. The mentorship our companies receive within the 3 months gives them a competitive advantage for the future.
The Research Triangle Park, better known as RTP, has always been considered one of the top tech centers in the world. It is the largest research park in the United States and is home to companies such as IBM and Red Hat and some of the largest pharmaceutical and healthcare companies in the country such as GlaxoSmithKline and Quintiles. Furthermore, because three of the nation’s top universities lie within RTP including UNC-Chapel Hill, Duke University, and NC State University, the area is bursting with innovation.
More specifically, Durham has quickly become the web and mobile startup hub of the Southeast. Companies such as iContact, Pocketgear, ReverbNation, Bronto, Shoeboxed, and Channel Advisor have already had tremendous success in Durham and have laid the ground for the next generations of startups.
There has never been a better time to start a technology company. Costs are decreasing, open development platforms are more robust (Linux, Ruby on Rails, MySQL, etc), cloud hosting environments and services are standard, revenue models are emerging and solidifying, and a generation of new digital platforms are becoming commonplace: Social Media (Facebook, MySpace, Twitter), Gaming (SGN, Zynga, Playfish), Open Mobile (iPhone, Android, Blackberry Development Platform), even digital set top boxes.
New entrepreneurs, however, face lots of obstacles in making their vision a reality, and many great ideas and great talent never get out of the starting gate. We bring you the seed capital, advice, practical guidance, and connections to help you succeed.
17 companies participated in LaunchBox Digital’s first two summer accelerator programs, LaunchBox08 and LaunchBox09. The majority of these companies have gone on to raise additional financing in a very challenging market for early-stage capital.