Every growing city is challenged to provide city services, transportation, clean energy, and affordable housing in a rapidly changing world. As one of the fastest growing cities in the nation, Austin is no exception. While technology isn’t the answer to all of our problems, it’s hard to imagine how we can overcome these chase challenges without leveraging tech. Capital Factory has teamed up with the Austin Tech Alliance to give one tech startup a $100,000 investment and assistance launching in Austin.
We want to transform Austin into the city of the future and we’re fortunate to have such an incredible partner to work with on this initiative. The Austin Tech Alliance is a nonpartisan, member-based nonprofit with a mission to promote civic engagement in Austin’s tech sector. Part of their focus includes advocacy promoting the use of use tech as a tool to help solve civic challenges. This leads ATA to work with internal and external partners to develop, test, organize, and encourage innovative projects with the goal of fostering a culture of innovation within and around the City of Austin.
“As the Council Member who sponsored Austin’s first Smart City Strategic Roadmap, I’m very excited to help launch this Smart Cities Challenge,” said Austin City Council Member Ann Kitchen. “This provides a real opportunity for innovative startups to learn more about Austin and show the community how technology can make our city better for all residents.”
“Startups are often hungry to work on civic challenges facing Austin, but there are no easy means for them to get plugged in with community leaders,” said David Edmonson, executive director of the Austin Tech Alliance. “That’s why ATA is partnering with Capital Factory to build a bridge for startups to work with the City of Austin through the Smart Cities Challenge.”
“$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 CEO of Capital Factory.
Who Can Apply?
Any tech or consumer startup focused on creating a smart city in the area can apply on AngelList to pitch at our Funding Day on July 27th.
What does Funding Day look like?
If selected, you’ll be one of 5 teams to pitch your startup to a panel of expert judges on July 27th. One company will walk away with $100,000.
So what will it take to win?
We are looking for tech or consumer companies striving to innovate their city and improve the quality of life for its citizens. What we really want to see is how your company will change your city and eventually the world, that you truly believe in what you are doing and can demonstrate your resourcefulness and ability to learn from your mistakes.
The best team that pitches at Funding Day will receive:
- $100,000 cash investment
- 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
- 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.
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.
Austin, Texas, is one of the fastest growing cities in the nation. With more and more people moving here everyday…angel.co
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.
About Austin Tech Alliance
Austin Tech Alliance is a nonpartisan nonprofit that promotes civic engagement in Austin’s tech sector and using tech as a tool to tackle our community’s most pressing challenges. Together, we work to make Austin a city of the future while protecting its unique culture.