Force of Good

Tell Ya A Secret

Dec 18, 08 in Angels, ATDC, Entrepreneurship, Startups   7 Comments

You may have heard of the  TAG/GRA Business Launch Competition.  That little thing where the Georgia Research Alliance (GRA) and the Technology Association of Georgia (TAG) join forces (along with the help of ATDC) to support the creation and growth of new startups in Georgia via a competition.  Where the contest winner receives a $100,000 cash award courtesy of the GRA and a diverse array of services valued at an additional $200,000.

It's back.

Tell ya another secret.  

That little snippet on where the judging process is explained that says "preliminary judges led by ATDC and supplemented with industry, investment and entrepreneurial representatives will complete the first step in the judging and select a group of semi-finalists."  I coordinate all that.  Makes me feel real powerful.  A master of the universe. 

Not.

But what it does do is put me the center of things during the early stages of the contest and that is pretty fun and exciting.  Last year I got a peek into about 80 startups.  This year I expect to see an exciting new crop of companies.  I also get to recruit those "industry, investment and entrepreneurial representatives" so if you have an interest in lending a hand I am all ears.

Things kick off this year on January 8 at 7:30 am at the TAG/ATDC Entrepreneurs Society monthly gathering.  Past winners REACH Call, IVOX, and Acculynk will give brief presentations.  Then we are going to do a little Q&A and explain the details of the 2009 competition.  I get to moderate which should be fun as well.

If you are an entrepreneur looking to enter the competition for a shot at the $100k in cash I would show up.  $100k in cash is going to be very dear to an early stage startup in 2009.

Comments

I'm testing a comment for one of my favorite Tweeters

ginevra - TypePad Community Manager  |  Dec 18, 08 at 04:52 PM

Here's to hoping that you bring well-needed integrity to this contest.

Russell Jurney  |  Dec 18, 08 at 05:51 PM

Lance

To your knowledge is anything being done to address the concerns expressed by many in the entrepreneurial community in terms of transparency of what constitutes a "business launch" as well as ensuring that there are no further perceptions of conflict of interest?

Scott Burkett went out on a limb to bring those issues to the fore, when many other prominent names were saying the same things or even less politely but did not have the courage to do so publicly. I'd like to think there was a tangible benefit for the risk that he (and possibly others of whom I'm simply unaware) took.

-- mike

Mike  |  Dec 22, 08 at 08:56 PM

Mike: The rules are the rules.

While the TAG web site does not currently reflect this it is my understanding that the rules have been changed this year to tighten the investment criteria so that the venture can only be funded to the tune of $500k regardless of the source of funds.

We discussed putting an entity age limit in place but ultimately the decision was made not to do so.

We have discussed providing prizes beyond the 1st place winner. Funds seem to be an issue.

Lance  |  Dec 23, 08 at 09:21 AM

Lance- I’m reading about the TAG/GRA business competition, and I’m curious to how people protect their ideas. Say someone hears a solid idea, they take it and run with it even though they didn’t create it. Example; Facebook.

How do you protect yourself?

Sean

Sean Claire  |  Dec 24, 08 at 10:18 AM

Sean: The short answer is you don't. The advice I always give folks is tell people what you are going to do and not the technical details of how you are going to do it.

And the Facebook example is an interesting one. The lesson to me is that execution matters more then the idea.

Lance  |  Dec 24, 08 at 12:05 PM

Thanks Lance

That's helpful. I think the cumulative funding limit is much more important than the age requirement, so good job by the powers that be for acting swiftly to shore up the integrity of the competition.

-- mike

Mike  |  Dec 27, 08 at 05:30 PM

Post a comment

Name:

Email Address:

URL:

  Remember me?
Comments: