How It Works
Every month, VenCorps invests $25,000 in a startup. Here's how it works:
Phase 1 - PITCH
Its easy- startups simply post their elevator pitch for the community to review. Members vote these pitches- either thumbs up or thumbs down. Once a startup has 25 votes (more than 50% have to be positive), the startup moves to phase 2 - evaluate.
Phase 2 - ENGAGE
No one's asking how you got here... it might have been your mom and all her friends voting for you. Whatever works. The point is you're one step closer to $25k! Startups in phase 2 complete a profile, answering standard investment questions. Members review the profiles evaluating them along 5 criteria and using a 5 star method.
Phase 3 - VOTE
Place your bets, folks. Whatever points you have in your user account can be placed on the startup you think should win the $25k. Think of it this way- if you bet cash on a horserace, you'd pick the pony you want to win. This is the same idea- the startup with the most points wins. Easy peasy. Winner takes all ($25k investment), and the other 8 go back to phase 2 to go after it again next month.
Each month the top 9 startups go head to head for community support. Members allocate points (our virtual currency) they have earned to the startup they want us to fund. The most backed startup wins an investment of $25,000 and moves on to phase 4. The other 8 startups go back to phase 2 and compete again next month.
Phase 4 - WIN
Congratulations-- you' made it! During this phase we provide the startups with mentoring, strategic guidance and potentially even follow-on funding.