GRAND RAPIDS, Mich., August 22, 2013 -- Start Garden, the $15,000,000 seed fund that selects individual ideas each week for investments, announced this week’s round of $5,000 investments from submissions to startgarden.com. These include The Ultraflex Series, lightweight, terrain-responsive hybrid sole assemblies for outdoor and military footwear, and GAPro System, a web and mobile platform for managing property and casualty insurance compliance.
The idea selected by the most endorsements from visitors to startgarden.com is The Ultraflex Series (strt.gd/x9SF), versatile shoe and boot sole assemblies that provide greater impact resistance, enhanced elasticity, multi-directional stability and terrain-dependent rigidity, without the weight or bulk of a traditional boot.
“May adjustable soles have mechanisms that add unwanted weight to a shoe, making it heavy, and the mechanics are often prone to damage from debris,” said Brian Schuster, founder of Ultraflex. “Ultraflex replaces this traditional sole construction with a lightweight, hybrid smart assembly that absorbs and distributes impact.”
Ultraflex will use the $5,000 Start Garden funding to perform impact testing with its material supplier in the UK.
Start Garden Selection
The idea selected this week by the Start Garden team for funding is GAPro System (strt.gd/x8YE), a single source cloud-base system for the property & casualty insurance industry that centralizes existing silos of compliance information to accept, verify, and warehouse policy data in real-time.
“GAPro centralizes all policy data to create standardization, efficiency, and compliance the leads to significant cost and time savings,” said Herb Gibson, founder of GAPro. “This low cost solution scales rapidly into other areas to reach this nearly $36.2 billion.”
The $5,000 Start Garden investment will allow GAPro acquire the first beta customers that want to manage their compliance requirement more efficiently.
Each idea receives a $5,000 investment, pending the completion of the investment agreement, which can be found on startgarden.com.
The fund’s management team takes submissions through startgarden.com. Ideas with potential to become businesses can be submitted. Each week the Start Garden team selects an idea and the broader community on the website endorses another idea to receive $5,000. Start Garden can continue to invest up to $500,000 in a single idea. Learn more about submission criteria at startgarden.com/help/criteria.
The next round of $5,000 investments will be announced Thursday, August 29, after the noon deadline. The next Update Night is Thursday, September 26. Learn more about Start Garden events at startgarden.com/events.