Steve Case will personally invest $400,000 in four startups that presented at the Google for Entrepreneurs Demo Day on Thursday. The startups, which will each get $100,000, come from a mix of cities that Case said represent his "Rise of the Rest" idea that there are a lot of great startups outside Silicon Valley and New York. All four of the startups were founded by women, which stands out in comparison to national trends.
"These are impressive companies with amazing potential and are exactly the types of companies that I am excited to invest in," Case said in a statement. "It is great to find such companies being led by the four women who appeared on-stage at today’s competition. I am mindful of the diversity challenges that still face the startup world, and I am proud to support these women launching their startups."
The 12 companies at the demo day pitched their ideas to Case, Ann Winblad of Hummer Winblad Venture Partners and Blake Byers of Google Ventures. The event is seen as a way to make it a lot easier to close a funding round, even without Case's investment. This was the second year of the pitch competition. Last year, Case invested $100,000 in all 10 of the startups that pitched, but this year decided to be a little more selective.
RT @maryGrove: Startups getting feedback from @SteveCase @byersblake Ann Winblad from @Humwin at #GoogleDemoDay! pic.twitter.com/oRGEpoLvXY
— Revolution (@revolution) April 3, 2015 Mati Energy, which produces an energy drink with more caffeine than Red Bull out of fruit juice and botanicals out of Durham, NC was chosen as "Judge's Favorite," as well as one that Case decided to invest in. Case's other chosen startups were Chicago-based apartment rental data platform InRentive, Montreal-based travel analytics and management system developer Seamless Planet and Austin-based Loop & Tie, which creates unique and unusual gifts for companies looking to go beyond gift baskets.
"All of the companies that participated today represent growing ‘Rise of the Rest’ regions and, not unlike last year, highlight the promise of entrepreneurial communicates in thriving ecosystems all over North America," Case said. "It is very promising to see first-hand."
