November 15, 2016
|INDIANAPOLIS – “Do you have the next high growth startup?” That is the question Elevate Ventures and Logika asked sixteen companies who participated in the inaugural Indy Startup Challenge over the past ten weeks. The bootcamp came to a close this past weekend where startup company SnapShyft™, a mobile application platform that connects food and beverage establishments with qualified industry professionals anywhere, anytime, on-demand, claimed first prize winning $5,000 in cash from Elevate Ventures. The visionary company award went to Codelicious. They provide coding instruction for K-12.
“Overall, participation during the bootcamp was exactly what we were hoping for,” stated Kelly Schwedland, Entrepreneur-in-Residence for Elevate Ventures who organized the Indy Startup Challenge in partnership with Joe Albano, Ph.D., and Founder of Logika. Schwedland continued, “In the end, the judges picked SnapShyft™ as the winning company. This type of business is why we founded the Indy Startup Challenge. Additionally, it was great to see co-founders of SnapShyft™, Thor Wood and Stephanie Corliss, grow as they hit the streets of Indianapolis to validate their business model.”
“As a company in the startup phase, the Indy Startup Challenge provided us a roadmap to validate our concept,” stated Wood. “Over the past ten weeks, we were able to take our initial business plan, pivot and get where we are today. As a result of the feedback we received directly from those in the market, along with the mentorship provided by the Indy Startup Challenge, we are well positioned as we prepare for our first capital raise,” Wood continued.
Sixteen companies participated in the inaugural ten-week program and five finalists were selected to pitch before a panel of judges this past weekend. The judges were comprised of leaders from Elevate Ventures, DeveloperTown, The Speak Easy and Meridian Street Capital.
The Indy Startup Challenge was presented by Elevate Ventures and Logika. The ten-week bootcamp was hosted by The Speak Easy and supported by DeveloperTown, Verge, The Bureau, Matchbook Creative, Launch Indiana, Studio B Creative Exchange, Reichel Stohry LLP, Techpoint, PitchFeast, Eleven Fifty Academy, Site Strategies, DK New Media, Startup Ladies and Eleven Fifty Consulting.