Triangle Entrepreneurship Week, which extends through Friday, is connecting local startups to investors.
The five-day event seeks to connect local entrepreneurs to resources, capital and collaborators, according to co-founder Jon Leonardo. Monday marked the start of the event’s second year in the Triangle. The schedule includes four morning pitch sessions, along with other discussions such as “Government role in startups” or “How to raise money in the Triangle.” Individuals pay about $15 to attend one session or $199 for a week long pass.
About four of the 12 companies that pitched in the Triangle last year received funding, Leonardo said.
So far, at least two local companies that have pitched to angel and other investors have set up follow-up meetings with investors, Leonardo said. On Thursday morning three companies pitched to Grant Allen, vice president of ABB Technology Ventures Ltd.
ABB is a large engineering conglomerate based in Zurich, Switzerland.
“What we do as a corporate venture capital outfit is take balance sheet money from ABB and deploy it into early stage technology companies of strategic interest to ABB,” said Allen, a Duke University graduate whose office is in Washington D.C.. “Those investments are typically two to 10 million dollars, even though we can write checks up to 20.”
Allen is also involved with NextGen Partners.
“We are a group of 40 under 40 angels,” he said. “We are looking to write checks anywhere really from $50,000 to $200,000.”
After the presentations, Allen said he was interested in connecting one of Thursday’s presenters to some Washington D.C.. investors and talking with his NextGen Partners about another.
The fourth and final pitch session will be held Friday morning. For more information about that and Triangle Entrepreneurship Week go here.