In August we released the Texas Startup Manifesto and announced our plans to expand our Accelerator program to include Dallas with a presence at The DEC. In October we announced our $100,000 Dallas Investment Challenge and then in November the $100,000 Houston Investment Challenge. This Tuesday we’ve chartered a Von Lane bus and are coming to San Antonio with 24 investors, mentors and entrepreneurs to announce $100,000 just for San Antonio!
Many of the most successful entrepreneurs in Texas have banded together to give one startup from San Antonio a $100,000 investment to try and change the world. Any tech or consumer startup in the South Texas area can apply on AngelList to pitch at our Funding Day on April 10.
“$100,000 isn’t all of the money you’ll ever need, but it’s enough for a scrappy team to focus full-time on building a minimum viable product and finding product market fit for about a year. We give you free rent, free hosting, a lot of other free stuff to make that $100,000 last as long as possible,” said Joshua Baer, founder and Executive Director of Capital Factory.
If you’re successful, you’ll validate the business enough to raise $500,000 and then raise a real seed round from a VC.
We’re fortunate to have an incredible partner to work with on this initiative. Geekdom has been leading the charge to energize the San Antonio tech and startup scene since the very beginning and is probably the largest community of entrepreneurs in Texas.
“One of our top priorities is to attract more capital for early stage technology companies in San Antonio so that they don’t need to move somewhere else,” said David Garcia, CEO of Geekdom, “It is our pleasure to welcome Capital Factory to San Antonio and introduce them South Texas’ best entrepreneurs.”
We’ll be at Geekdom this Tuesday with a full Von Lane bus of 24 investors, mentors and entrepreneurs from Austin for a day full of programming and networking. We’ll start off with an Epic Office Hours session of speed dating between Austin investors and San Antonio entrepreneurs in the afternoon. Then in the evening is the Intro to Fundraising in Texas where we’ll announce the $100,000 Challenge and have a panel of Venture Capitalists on stage to answer questions about fundraising for your startup.
Some of us will be sticking around on Wednesday for an info-session where you can ask more questions specifically about the $100,000 investment challenge.
The best team that pitches at Funding Day will receive:
- $100,000 cash investment on a SAFE or Convertible Note
- Special access to an A-List of Texas’ top entrepreneurs who add value far beyond the money you received
- 1 year of unlimited co-working at Capital Factory and Geekdom
- Access to the Capital Factory Mentor network
- Company formation by startup law firm Kastner & Gravelle
- Hundreds of thousands of dollars in free hosting credits from Amazon Web Services, Google Cloud, IBM Softlayer, Microsoft & Rackspace plus many other cloud services you use
This Capital Factory investment challenge is funded by the Capital Factory Partners Fund, a group of the most active mentors and angel investors in our network. To see the complete list of Capital Factory Partners, see the Mentors page of our website.
About Capital Factory
Capital Factory is the center of gravity for entrepreneurs in Texas, the number one startup state in the U.S. Last year more than 100,000 entrepreneurs, programmers, and designers gathered day and night, in-person and online for meetups, mentorship, classes and coworking. We meet the best entrepreneurs in Texas and introduce them to their first investors, employees, mentors, and customers. According to Pitchbook, Capital Factory has been the most active investor in Texas since 2013.
Geekdom is a collaborative coworking space in San Antonio, Texas, and the heartbeat of the startup ecosystem.
Like a Gym Membership for Geeks: Our mission is to provide an inspiring environment for bright minds to explore ideas in entrepreneurship, technology, leadership, and creativity, develop talents, and connect to a community of like-minded people. Geekdom has locations in San Antonio & San Francisco and was founded by Graham Weston the Chairman of Rackspace Hosting & Nicholas Longo the Founder of CoffeeCup Software.
Group tours are provided Monday-Friday at 12:00 pm and 4:00 pm, or by appointment only. Click here to schedule a tour.