Grand Rapids, Mich., June 21, 2012 -- Today Start Garden, the $15,000,000 seed fund that selects ideas each week for $5,000 investments, announced the results from the eighth week of submissions to startgarden.com.
The idea selected by the Start Garden team for funding was Teamwork Bags. With its team of two, Teamwork Bags has worked a constant make-sell cycle for the past 4 years, selling everything they make as soon as it hits the marketplace. Now they are looking to grow their business by decreasing their inefficiencies, creating new designs, and establishing new markets. Founders Nick Stygstra and Nick Stockton also plan to keep their work meaningful through the use of interesting materials.
“We believe in having a sense of where you’re from, so we’ve stayed connected to the Great Lakes by using local resources ﬁrst and staying in West Michigan,” said the ‘Nicks.’ “We believe that some things, like sails, collect history and soak up soul as they’re used, so we collect materials headed for the trash and turn them into something valuable.”
The idea selected by the most endorsements from visitors to startgarden.com was Growing Health Farms. Growing Health Farms LLC grows organic vegetables year round and is a closed-loop, sustainable form of agriculture. The fish are fed an organic meal and their waste is then converted through anaerobic bacteria into nutrients for the lettuce. The lettuce then filters the nutrients and provides clean water that is channeled back into the fish tank.
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
Each Thursday at noon the ideas on startgarden.com are stored in the database, and the slate is cleaned for the next week. Anybody who has already submitted an idea and wants it reconsidered for the next week must go back to the website to resubmit.
The next round of $5,000 investments will be announced Thursday next week, June 28, after the noon deadline.