This week, the Charlotte area incubator and accelerator program for financial and technology startups, which is known as RevTech Labs III, held its Demo Day to showcase the work of locally-based startups. The purpose of Demo Day is not only to showcase the work of startups, but to also help them gain attention and investment from in the region and across the country. The businesses that attended the conference ranged from new technologies to financial innovations. The conference took place on the fifth floor of the startup hub at Packard Place, where over two-hundred entrepreneurs, potential investors and corporate representatives gathered to learn about one another’s work.
RevTech Labs III is one of three Charlotte-based startup incubator programs that is geared toward helping founders of early companies develop their business models, prepare for fundraising and hiring, and work toward increasing revenue and profitability. The organization also worked with Sierra Maya Adventures, which also helps to support early stage startups, in order to put on the conference.
Companies that are working with RevTech Labs III have already begun to get attention from potential investors and the broader technology community. Recently, the program provided opportunities for businesses to pitch to local and national investors, including a special occasion at TechCrunch Disrupt in New York. Amongst the cohort that presented at Demo Day, companies called Paradine, Inovance and Ecampus also had opportunities to showcase their products at the Audience Choice Award.
In addition to providing technical support to budding startups, RevTech Labs III is also helping to let the world know that Charlotte is a great location for technology companies and growing startups. Their work at RevTech Labs III in securing investment for local startups has helped to put Charlotte on the map. On May 20th, companies including Paradine, Kydaemos, iGenApps, SKoolAide, eCampus, SavedPlus, FitRaise, Inovance and ItsYourVet showed off the work of their companies. The companies all served different functions and niche audiences; for example, Kydaemos is a mobile-gaming platform that was founded by a developer and Hollywood screenwriter. In addition, other companies focused on tele-medical services and consultations, tools for college students to help them find roommates, and a crowdfunding platform for investors.
Demo Day 2014 ultimately provides funds through accredited investors in Charlotte and across the country. RevTech Labs III developed a new way to fund their operations by creating a 506(c) index, which allows investors an easier way to put money into ideas they believe in. This fund is specifically targeted toward accredited investors with either an annual income of $200,000 or a net worth of $1 million to invest in $10,000 across all nine companies, thus increasing their opportunities for higher returns. The fund opened this Friday and companies will be able to use the money for office space, hiring, and product development and marketing. You can learn more about the exciting technology opportunities in Charlotte or about RevTech Labs III and their work supporting local startups by visiting them online.