Summary of Launchpad LA Receives VC Funding: $50,000 Per Startup

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    Launchpad LA: A Venture Capital-Backed Incubator for Tech Startups

    Launchpad LA, a prominent force in the Los Angeles tech startup ecosystem, is opening its doors for its third class of startups. This initiative promises a unique blend of venture capital funding, mentorship from top VCs and successful entrepreneurs, and free office space.

    Venture Capital Funding for Los Angeles Startups

    Each participating startup will receive $50,000 in venture capital funding. This financial support is crucial for startups to kickstart their operations, develop their products, and gain traction in the competitive tech market.

    • Rincon Ventures
    • Idealab
    • Baroda Ventures
    • GRP Partners
    • David Cohen (founder of TechStars)
    • David Tisch (founder of TechStars NY)
    • DLA Piper
    • Stubbs Alderton

    Mentorship and Guidance from Industry Experts

    Beyond the financial investment, Launchpad LA provides invaluable mentorship from seasoned venture capitalists and experienced entrepreneurs. This guidance helps startups navigate crucial aspects of their business, such as fundraising, team building, product development, and market expansion.

    • 500 Startups
    • First Round Capital
    • Foundry Group
    • Menlo Ventures (Shervin Pishevar)
    • MK Capital
    • Jason Calacanis
    • Paul Kedrosky
    • Peter Levin (Principal, GeekChicDaily/Nerdist Industries)
    • Howard Lindzon
    • Eric Ries

    Free Office Space in Santa Monica

    Launchpad LA offers free office space in Santa Monica, providing a collaborative environment for startups to work, connect, and grow. The location, walking distance to the Third Street Promenade, offers startups access to a vibrant business hub and a network of potential partners and clients.

    Accelerator Model: Combining Education and Venture Capital

    Launchpad LA's approach blends traditional mentorship with an accelerator model, providing startups with structured educational programs and access to venture capital funding. This comprehensive approach aims to equip startups with the skills, resources, and financial support to thrive in the tech industry.

    • Regular events featuring experts on fundraising, term sheets, team building, product development, business development, M&A, press relations, and more.
    • Focus on fostering deep and lasting relationships between startups, mentors, and venture capitalists.
    • Dedicated space for local VCs to actively engage with Launchpad LA startups.

    Success Stories: Launchpad LA's Impact on Los Angeles Startups

    Launchpad LA boasts a strong track record of supporting successful tech startups. Past participants have secured significant venture capital funding, achieved successful acquisitions, and become key contributors to the Los Angeles tech ecosystem.

    • MovieClips: $7 million funding from MK Capital, Shasta Ventures, First Round Capital, SoftTech, VC and Felicis Ventures.
    • Sometrics: Acquired by American Express for a reported $30 million.
    • Cramster: Acquired by Chegg, the leading online book rental company.
    • TechForward: $7 million from NEA & First Round Capital.
    • Pose: $5 million in two rounds from GRP Partners, True Ventures, Mousse Partners & Founder Collective.
    • GumGum: $11 million financing.
    • DataPop: $2 million from Rincon Ventures, IA Ventures, and others.
    • Gendai Games: $7 million from Steamboat, DFJ Mercury, DFJ Frontier, Greycroft, ff Ventures, and others.
    • Ranker: $1.3 million from Rincon Ventures & Tim Draper.

    Launchpad LA: Fostering Tech Entrepreneurship in Los Angeles

    With its unique blend of venture capital funding, mentorship, and a thriving co-working space, Launchpad LA empowers tech startups to pursue their dreams and contribute to the growth of the Los Angeles tech scene. The organization's dedication to supporting entrepreneurs and fostering a strong startup ecosystem makes it a valuable asset to the city's innovation landscape.

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