Source: RWW, Oct 2011
A new program that began earlier this year is looking for five IT-centric entrepreneurs to receive seed funds along with a series of services. Located in an underused mixed-use office building in downtown St. Louis, the program is run by two venture capitalists – Judy Sindecuse and Hal Gentry – who have formed a new entity called Capital Innovators. And yes, each of the five selected will receive $50k, along with free Internet hosting services, accounting and legal services, and intensive hands-on mentoring for 12 weeks.
The entrepreneurial program is supported from grants of the Regional Chamber and Growth Association (the local Chamber of Commerce branch), the Partnership for Downtown St. Louis and the St. Louis Economic Development Corp., each of whom kicked in $30,000 to pay for improvements and leases for the office space for the next year.
Each of the five finalists will receive free rent for the duration of their mentoring deal and then have the opportunity to rent out other space in the building at extremely low monthly rents if they wish. At the end of their mentoring period, each venture will pitch their business to local and national investors in a “Demo Day.”