SOURCE: Bang Ventures

September 24, 2007 08:30 ET

"You Be The VC" Launches, Turning Start-Up Dreams Into Reality

Public Vote Will Determine Winners of Financial Backing, Strategic Support

CAMBRIDGE, MA--(Marketwire - September 24, 2007) - Ever imagine running your own tech start-up company? Bang Ventures is making that dream a reality with its You Be The VC contest (www.youbethevc.com). Take one part "American Idol," one part "The Wisdom of Crowds," and one part business incubator -- add them up and you get one exciting competition, where your great idea might transform into the next Google or Facebook.

The prize? A complete launch pad for creating a successful start-up: investment capital, office space, programming/web development, legal, accounting and business strategy consultation, and marketing and sales support. Already, firms including Deloitte & Touche, one of the big four accounting firms, Vator.tv and Foley & Lardner, a prestigious law firm, have jumped onboard to lend their support to this innovative and dynamic effort.

This is an open call to people with great tech ideas to fill out the hassle-free application and profile at www.youbethevc.com and enter the chance to win their own start-up company. Here's how it works:

1. To enter, go to www.youbethevc.com, create a profile and fill out the application with your company idea. If you don't want to enter the contest but still want to be part of the entrepreneurial social network, you can still join as a member.

2. Proposals for companies in the "Web 2.0" space, including social networking, advanced search, Enterprise 2.0 and mobile applications companies, will be considered.

3. Expert judges will narrow the field, commenting, questioning and assigning new tasks. The top 20 finalists will film a video pitch jointly on broadcast television and online video, and the public will vote on which three companies will win.

4. The winners will spend next summer in Cambridge, Mass. with a team of expert consultants, advisors and programmers building their start-up company.

"We live in a culture of entrepreneurs, but so many great business ideas are overlooked because they don't have access to money and resources, as well as experienced advisors and the media," said Mark Modzelewski of Bang Ventures. "You Be The VC will create incredible opportunities by reinventing venture capital and reinvigorating the startup process by transforming great ideas into great companies."

"Having worked with many successful companies, from early stage ventures to blue-chip firms, our team is always energized by helping build businesses from the ground up," said Ed Moran, head of the venture capital practice at Deloitte & Touche. "We are thrilled to support the You Be The VC effort. It's an incredible way to tap the talents and ideas of great minds across the country and give them access to the expertise, funding and resources they need to succeed."

"As an early Internet entrepreneur. I know how difficult it can be to start a business and navigate the venture capital system," noted direct media marketing guru and WPP Partner Matt Straznitkas. "That's what makes You Be The VC so attractive -- this is a meritocracy where the best ideas win and get funded. Simple as that."

"Having sold and taken public dozens of companies, I know that there are a million great business ideas out there, but most never make it because they can't access the right expertise," said Gabor Garai, a partner and chair of the private equity and venture capital practice at Foley & Lardner. "In backing You Be The VC, we know that we are helping to foster not just clever ideas, but great new businesspeople who are supported by a team of seasoned experts."

More information about the contest, including rules and advice for entering, can be found at www.youbethevc.com.

About Bang Ventures

Bang Ventures is a New York-based investment firm with offices in Cambridge and is focused on early stage emerging technology companies.

Bang Ventures isn't a VC firm. We help smart and driven people co-found fantastic new companies, providing entrepreneurs with a roof over their heads, mentoring, a deep network of contacts, marketing support, professional services and other technical support....and yes, funding as well.

Launched in 2007, Bang Ventures gets into the projects at the inception phase, evaluating opportunities and empowering entrepreneurs to develop strong companies. The firm is currently focused on investing in North America and Eastern/Central Europe in sectors ranging from Web 2.0 to clean tech to medical devices.

About You Be The VC

Equal parts incubator and "American Idol," You Be The VC is a competition to find the best new entrepreneurs in the U.S. New company ideas are submitted and judged by business leaders, then selected by voters on the You Be The VC site, which also serves as an online community for people interested in building new companies. Visit www.youbethevc.com for more details.

Contact Information

  • Media contact:
    Meghan Gardner
    Tier One Partners
    Email Contact
    857-222-2864