Innovation Bay looks to add to $10m in start-up investments
Thursday, September 15, 2011/
Start-up networking group Innovation Bay is calling for entries for its next Angel Dinner, having claimed to have helped raise more than $10 million for early-stage ventures since launching.
The program, run by recruitment firm Mitchell Lake, says that it has broken through the $10 million funding milestone after several start-ups successfully pitched for investment earlier this year.
Taxi-location app GoCatch has already received funding following a successful pitch, while gaming review site MMGN.com is currently in talks with a potential investor.
At least two of the four start-ups that pitched in May – ImageBrief, Woo Board, MeTag and StageBitz – are also in talks with investors.
Innovation Bay, which was launched eight years ago, allows budding tech entrepreneurs to showcase their ideas to investors via the quarterly Angel Dinner events.
Entrants are required to submit a 90-second video explain what their business is and why it deserves funding.
Videos can be uploaded to the Innovation Bay website, where members can vote on the pitches and discuss the ideas with the founders.
The four videos with the highest number of votes are invited to present their concept at the Angel Dinner, where investors will get the chance to show their interest.
“We’re going out a bit earlier this time in order to get some good numbers,” says Sue Hogan, events manager at Innovation Bay.
“There are some very exciting ideas that come up at the dinners. There are some very passionate, brilliant people who pitch.”
The next Angel Dinner will be on November 15. The deadline for submissions is Friday, November 4.
For more information, email [email protected]