About Flywheel New Ventures 2020 LLC
The Challenge is made possible by Flywheel New Ventures 2020, LLC (Sponsor), which is a membership based investment organization of local entrepreneurs in the Triad Region of North Carolina. All members are active investors who select the competition winners and make subsequent investments.
The funds raised by this organization are for the purpose of funding the New Ventures Challenge, the Flywheel New Ventures Accelerator, and for investing in selected startups. All investment decisions are made by majority vote and rely heavily on milestone achievement by the selected teams during and after the accelerator session.
The Flywheel Foundation (Administrator) administers the Challenge on behalf of Flywheel New Ventures 2020 LLC.
Flywheel LLC provides workspace for selected challenge teams during the finalist briefing and final pitch weekend, runs the accelerator, and organizes the resources and mentors for development of teams’ concepts and commercialization plans.
Flywheel LLC is a 18,000 SF Coworking innovation space that provides a community workspace concept for startups, consultants and freelancers in the form of membership plans tailored to their needs, network resources, and programming focused on technology skills and business development.
Flywheel hosts numerous activities focused on startups including Startup Weekend and Startup Grind fireside chats, powered by Google for Entrepreneurs. The Flywheel Foundation is a sister non-profit organization dedicated to promoting a healthy entrepreneurship ecosystem through education, research, events, innovation challenges and business accelerators.
About the Wake Forest Innovation Quarter in Downtown Winston-Salem, NC
Flywheel is located in the heart of the Wake Forest Innovation Quarter that adjoins the Winston-Salem, NC central business district. It is one of the fastest growing urban-based research parks in the United States, with a master plan for as much as 6 million square feet of world-class office, laboratory and mixed-used space over its 145 developable acres.
The Innovation Quarter is the home to Wake Forest Innovations and is being developed in partnership with Wexford Science and Technology, a division of Biomed and Blackstone. The park supports a diverse mix of academic and commercial tenants by providing modern facilities, managed services and special amenities.
It is projected that by the end of 2016 more than 60 technology companies and 26 academic entities will be operating in the Innovation Quarter, occupying more than 1.1 million square feet and employing more than 3,000 people alongside 1,200 students annually enrolled in workforce training in emerging technologies and the residents of more than 2,200 nearby apartments, lofts and condominiums.
The City of Arts and Innovation
Located in the beautiful foothills of North Carolina, a place that rolls with energy, vibrancy and innovation.
A Digital City
Winston-Salem has been long recognized as a leader in both the arts and innovation, achieving a remarkable 14 years in a row ranked as one of the top 10 digital cities in the U.S.
Culture and History
Long known for its historical roots in the NC tobacco industry, the city and region have seen a completely new persona that attracts the leading edge of trends, community and possibilities.
New Ventures is based out of Flywheel Coworking, which is part of the thriving new Wake Forest Innovation Quarter.
Flywheel is a 24/7 coworking innovation space, and the home of a thriving entrepreneurship community. Startups, small businesses, freelancers, investors and more come together to work side-by-side in a collaborative, non-competitive and encouraging space.
Home to more than 50 companies, 4 leading institutions, almost 3,000 workers and 2,000 students, the Innovation Quarter is a place for research, business and education in biomedical science, information technology, clinical services and advanced materials. The Innovation Quarter currently comprises 1.5 million square feet of inspirational office, laboratory and educational space on its 145 developable acres. In addition, there are more than 600 apartments, lofts and condominiums within or close by the Innovation Quarter.
OUR STARTUP CHALLENGE
Our Startup Challenge is live and accepting applications at the global startup portal F6S. Up to 5 teams will be selected to participate in our 12-week startup accelerator program. Challenge winners are awarded prizes (as a first tranche of investment).
All winning teams are accepted into the New Ventures accelerator. Teams are expected to work through the summer making progress toward agreed upon milestones and additional average investments of $50,000.
The accelerator ends with an investor led Demo Day and a two month follow-on residency at Flywheel.
Find out more about this exciting challenge and see if you are eligible to apply.