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This week Salt+Marrow, a Chicago strategy and design firm that works with entrepreneurs, startups, and businesses with socially responsible missions, launched Ventricle, an angel investment program for Chicago-based start-ups. Ventricle seeks to provide early-stage funding and services that create a foundation for startups to attract customers and institutional investment. The selected company will receive a range of support, including a $20,000 investment (in exchange for an equity stake) and office space for one year. Professional services for the selected business will also include building a website or e-commerce platform; legal support for entity organization and setup for investment; initial search engine optimization (SEO) for the website, an Adwords campaign, copywriting services and promotion at Chicago Ideas Week.
Chicago Ideas Week (CIW) is about the sharing of ideas, inspiring action, and igniting change to positively impact our world. People who come to CIW are artists, engineers, technologists, inventors, scientists, musicians, economists, explorers—and, well…just innately passionate so Ventricle is a great partner program to take these concepts to launch.
Ventricle seeks to build on Chicago’s momentum in expand innovation. “Chicago is becoming a leading center for ambitious entrepreneurs,” said Marcus Duncan, CTO, Salt+Marrow Development. “Programs such as Chicago Ideas Week, the establishment of 1871 as an incubator for startups, and the relocation of leading technology companies to Chicago have raised the city’s profile.”
To be eligible, start-ups must meet several criteria: the business must be a for-profit company located in the Chicagoland area and have a social, educational or environmental initiative tied in as a tenet of its mission. In addition, prospective candidates must be in the start-up phase or incorporated for no more than one year. Last, the principal must be able to work full time on the project to ensure its success. Entrants must submit their application by September 25, and the selected business will be chosen on October 5 and announced during Chicago Ideas Week.
For more information or to apply visit SaltandMarrow.com/Ventricle
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