The Launch Place

Location: Danville, VA; Research Triangle Park, NC

Investment

• Pre-Seed Investment: Up to $50,000
• Seed Fund: $100,000 to $250,000, with the potential for up to $500,000

Equity Taken: Convertible note or equity (exact percentage not specified)

Industry of Focus

• Advanced Manufacturing
• Alternative/Advanced Energy
• Advanced Materials
• Healthcare IT
• Medical Devices
• Software
• Electronics and Controls
• IT
• Engineering and Electronic Related Products
• Bio-Materials
• Green Energy

Key Highlights

Program Overview

The Launch Place is an entrepreneurial development organization offering consulting, mentoring, training, and funding to startups. It operates two investment funds: a Pre-Seed Investment Fund for market and product validation and business model refinement, and a Seed Fund with investments that act as catalysts for significant milestones. The program is located in Danville, VA, and Research Triangle Park, NC, fostering the growth of innovative startups in high-growth industries.

Diversity, Inclusion, and Exclusion

• Preference for resources in the Danville region for technology and business model validation.
• Entrepreneurs must agree to publicly disclose involvement with The Launch Place.

Investment Details

• Pre-Seed Investments: Up to $25,000, structured as convertible debt or equity.
• Seed Fund Investments: Range from $100,000 to $250,000, with the ability to fund up to $500,000. Deals can be structured as debt, convertible debt, or equity.

Benefits Details and Perks/Credits

• Access to consulting, mentoring, training, and support services.
• Assistance with additional capital, customer or strategic partner introductions, and employee recruitment.
• Oversight and guidance from an Advisory Board during validation processes.
• Full menu of services or specific services tailored to startup needs.

Program Format

• Applications accepted year-round.
• Initial screening followed by phone calls and interviews.
• Deep due diligence including site visits and pitch strategy assistance before final investment decisions.
• Post-investment collaboration to build and grow the business.

Location or Relocation Requirements

• Part of company operations must be located or willing to relocate to Danville, VA, Pittsylvania County, VA, or Caswell County, NC.
• Seed Fund requires operations in the Danville region for at least three years.

Cohort Size and Program Frequency

• Applications are open continuously, no set cohort size mentioned.

Requirements Related to Users, Revenue, or LOIs:

• Seed Fund requires the creation of a minimum of 5 jobs with salaries of $50,000 or greater within a three-year period.
• Dollar-for-dollar match required for business model validation investments.

Post-Program Engagement

• Continued support through consulting, training, mentoring, and assistance with funding and strategy.
• Help with customer and strategic partnerships.

Company Types Requirements

• Innovative and cutting-edge technologies, products, or applications advancing industries like advanced manufacturing, energy, healthcare IT, medical devices, software, and electronics.
• Formal business structure and ownership of intellectual property (vested or licensed).

Founding Team Preferences

• Pre-Seed Investment requires a management person experienced in product development and domain expertise.
• Seed Fund requires a full-time commitment from the Founder or CEO.