Meet the Newest Crop of Chicago Start-ups:
It’s Demo Day at Chicago-based Excelerate Labs. Here’s a sneak peak at the companies on deck to pitch at the city’s iconic House of Blues.
Another incubator, another high-stakes Demo Day.
This time it’s Chicago-based Excelerate Labs, the incubator run by entrepreneurs Sam Yagan (of OKCupid and Sparknotes) and Troy Henikoff (of SurePayroll). On Wednesday, the program’s 10 start-ups will pitch their ideas in front of an audience of investors at the city’s iconic House of Blues nightclub.
The intensive, three-month program, gives start-ups $25,000 in exchange for 6% common stock plus $50,000 in the form of convertible debt from Chicago VC firm New World Ventures. The real perk for the start-ups, however, is access to nearly 150 mentors, including Opentable’s Chuck Templeton, Groupon’s Brad Keywell, and TechStars’ David Cohen–all to help the young companies refine their business plans and pitches before Demo Day.