The Guppy Tank Will Offer $500,000 to Colorado Entrepreneurs During One-Day Funding Event
Denver, CO (PRWEB) June 20, 2013
The Guppy Tank, an event based capital provider and a kinder, gentler, non-televised version of the ABC television show “The Shark Tank,” is offering $ 500,000 to innovative Colorado businesses. Up to 10 enterprising business owners could receive equity investment funds, loans or a combination of both during a one-day funding event September 12 at Galvanize, a co-working space for local entrepreneurs in Denver.
Business owners seeking funds through The Guppy Tank must operate a for-profit organization that has been engaged in their current business activity for at least one year. Candidates have until September 8, 2013 to submit an online application to participate in the program, which requires participants to pitch the viability of their business concepts to a panel of investors and lenders. The Guppy Tank and its sponsors, including – Southern California lender Super G Funding, LLC – will make investments from $ 25,000 to $ 500,000 per business.
“We’re excited about bringing The Guppy Tank to Denver and the potential of helping the local economy by providing small businesses with the capital they need to grow and reach their full potential,” said The Guppy Tank Founder Darrin Ginsberg.
The Guppy Tank held its first funding event in October 2012 in Newport Beach and provided over $ 600,000 in funding to three local Southern California companies. A second event was held in April 2013 in Santa Monica, California, with several fundings in progress from that event.
To qualify for funds, local entrepreneurs will need to effectively identify the challenges they face, explain what makes their businesses unique, how they would utilize the funds, and how their team is poised for success. At the end of the application period, the Guppy investors will review the applications and select potential candidates to appear before the Guppy panel.
The Guppy Tank will attempt to fund at least two, and up to 10 businesses at this event. Investments are negotiated shortly after the candidates make their presentation at the event. In addition to the funding, each of the recipients will be given the opportunity to work with the Guppy investors to gain insight on how they might best grow their businesses.
“As investors, we’re always looking for exciting new businesses and this process exposes us to companies we may not learn about through traditional funding channels,” added Ginsberg. “For the participants, The Guppy Tank provides a unique way to gain capital, while also offering them the chance to gain solid feedback on their business plans and presentations.”
For more information or to apply for The Guppy Tank, visit http://www.theguppytank.com.