Grand Rapids, Mich., June 07, 2012 -- Today Start Garden, the $15,000,000 seed fund project from Rick DeVos that selects ideas each week for $5,000 investments, announced the date of their first Update Night event. On July 26, representatives from eight of the ideas that received a $5,000 investment from Start Garden will present updates on how they used the initial investment to move their idea forward. Update Night begins at 5:30PM at the Grand Rapids Art Museum. Admission is $5. Doors open and cash bar opens at 5:00.
Each week, Start Garden invests in at least two ideas submitted to the website www.startgarden.com. Each idea receives $5,000. One of the ideas is chosen by Start Garden team members, the broader community selects the other. Each week, the public has the opportunity to endorse the idea they like the most. The idea with the most supporters at the end of each week receives the second $5,000 investment.
Each person who receives the initial $5,000 investment has 60-90 days to get some traction with his or her idea, and return to give an in-person update at a public event. Update Night offers the public a chance to see how the ideas that they endorsed used the funding, and learn which ideas will receive an additional $20,000 in funding. Projects that demonstrate success and continued growth can ultimately receive as much as $500,000 dollars in incremental investments.
“Start Garden brings the city around these ideas by asking the public to endorse them and our business partners to help them,” said Rick DeVos. “We think the city should have a window into what kind of progress these teams have made and what Start Garden’s plans are for the future. Update Night provides anyone that endorsed an idea, or is excited about how new businesses get started, the chance to see what somebody can do with a little early investment.”
The ideas that will be presented at Update Night will be:
START GARDEN SELECTIONS
Netvalue is like MoneyBall for Basketball. They are building winning basketball programs with pioneering statistics.
One Second Epic is an App that captures tiny slices of your life into a single, continuous "epic" video.
The Deltabike uses “crowd sourcing” to develop new business models for electric motorcycle products.
599Work is a project where freelance creative workers create a menu of jobs they would do for $599. (Why $599? No 1099.)
NxtMile Sport Insoles are designed specifically for young athletes (pre-college) to reduce common injuries that take them out of playing the sports they love.
Suya Foods LLC a new business to bring packaged African food to the mainstream market.
Dirty Water Beer is a for profit business with a philanthropic mission; to sell a distinctly packaged beer whose profits fund fresh water wells in developing countries.
Julieta Carril Designs a clothier specializing in Argentinian fashion.
Monthly Happy Hour: June 14, 2012
47 Commerce SW, Grand Rapids, MI 49503
Start Garden hosts a happy hour with Lambert Edward & Associates on their rooftop deck. Wine, beer and light snacks provided. RSVP at startgarden.com/events.