Local technology start-ups are preparing to compete for a chance to present their ideas to financiers at the mid-Atlantic’s most high-profile venture capital fair.
Organizers of Capital Connection, sponsored by the Mid-Atlantic Venture Association, are now accepting applications for the spring conference, MAVA officials announced Wednesday.
The fair, which is one of several opportunities for local companies to pitch venture capitalists for funding, is by farthe most competitive in the region.
About 200 companies typically apply for about 35 spots.
Each winning company gets just minutes to make its pitch with about half of the presenting companies typically finding funding.
The fierce competition for the presentation slots is indicative of the increasing number of start-up technology companies in the region.
With hundreds of firms, and a limited amount of venture funding, venture fairs present an opportunity to get on an investor’s radar.
“Not every company is venture backable; it’s the companies that are trying to tackle huge markets,” said Tim Meyers, a general partner with Reston-based venture firm Updata Partners and the 2007 chairman for Capital Connection. “That takes a heck of a lot of money and you can’t do that with bank financing or friends and family money.”
Local companies have only a few opportunities each year to pitch investors in such a forum.
The Washington, D.C. Technology Council sponsors a fair, as does The George Mason University Business Alliance. But by far, said Meyers, Capital Connection is the most coveted fair in the region.
“This is one of the largest venture shows in the region,” he said. “The benefit for the region is we get VCs that come from all over the country … it’s very much a showcase (for the companies) and it’s a showcase for the region.”
