Wake Forest Community Law and Business Clinic mentioned in Triad Business Journal article about the New Ventures Challenge 2016
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Triad Business Journal
March 30, 2016
Wake Forest Community Law and Business Clinic was mentioned in the following article, “Flywheel business idea competition to award $400K in seed funding,” originally published in the Triad Business Journal on March 23, 2016.
Winston-Salem co working space Flywheel has launched New Ventures Challenge 2016, a business idea competition that will offer up to eight startup business teams a shot at tens of thousands in seed funding.
Competitors selected for the challenge will spend June through August in the New Ventures Accelerator at Flywheel, located in Wake Forest Innovation Quarter, and follow the time in the accelerator with a two-month residency at Flywheel.
Flywheel will provide work space for each of the selected business teams and organize resources and mentors to assist in the development of a concept and commercialization plan.
Seed funding comes from New Ventures 2016 LLC, a group of local investors looking to help with the creation of technology and device startups, said Peter Marsh, principal with Workplace Strategies Inc. and a co-founder of Flywheel.
Wake Forest Community Law and Business Clinic is also offering ongoing advice about how to structure the investment club and the challenge.
Teams wishing to compete can offer ideas in a broad range of categories, including business or consumer software development and applications, IT and informatics, high technology and device innovation.
Teams are encouraged to offer ideas that connect with areas of the Triad economy including health care, biotechnology, aerospace, logistics and arts.
Up to eight winning teams will have a chance to receive seed funding of $50,000, on average.
“The New Ventures Challenge is a further important step by Flywheel to develop fledgling companies using its entrepreneur training skills and applying seed-stage investments by local investors,” said Eric Tomlinson, president of Innovation Quarter and chief innovation officer at Wake Forest Baptist Medical Center.
More information about the challenge is available at www.newventuresnc.com