The submissions deadline is Oct. 1 for the Launchpad, for those of you who need a gentle reminder. We’ve got a great group of applicants already, but the deadline is very strict, as we have to have time for the final judging process.
A reminder on the new approach this year:
At this year’s Web 2.0 Summit, we are evolving Launch Pad a bit. While it’s great to be chosen to launch your new company at a conference like Web 2.0 Summit, the reality of the market is that the majority of successful Web 2.0 companies do more than just launch products. They also often pass the test of VC scrutiny— that’s how the market determines who wins and loses in the world of startups. To that end, this year there is no fee for companies involved, instead, the VCs are sponsoring the program.
The New Approach
This VC Edition of Launch Pad has several adjustments to the typical judging process:
* The judging panel will be comprised of six venture capitalists who will review Launch Pad companies as if considering them for funding.
* Judges will select up to eight finalists, that will be given ten minutes each, to pitch themselves on stage, in front of the entire Web 2.0 Summit audience and the VC judging panel.
* Each company will be provided feedback on its presentation in real time, by both the VC judges and the audience.
* The VCs may, at any time, offer these applicants non-binding term sheets for financing.
Entrants no longer need to launch their company or major product/service to qualify. Instead, those that apply will be reviewed by our panel of venture capitalists. If they make the first cut, they will pitch their company in front of the Web 2.0 Summit audience – the top executives, financiers, press, and analysts in the Internet industry. The audience will also have the opportunity to vote, along with the VC panel.