HOUSTON, April 18, 2018 /PRNewswire-USNewswire/ -- Investors offered a combined total of $550,000 to veteran-owned companies at the 2018 Veterans Business Battle. The event at Rice University connects veteran-owned companies with investors, resources and business mentors.
Eighteen companies from across the country pitched their ideas to a panel of investors Friday. By Saturday evening, investors were ready to offer more than $550,000 in investments. Additional investment offers are under negotiation. Saturday's offers bring the total investment offers at Veterans Business Battle to more than $3 million total in the four years that the Veterans Business Battle has existed.
"We know that the investments given so far are only the beginning. We connect these entrepreneurs with other veterans on the same journey and provide business resources they can use the rest of their careers," said Mark Martin, Veterans Business Battle Chairman. "Companies that competed the first year now serve as mentors and investors."
CYR3CON, a cyber-security firm based in Phoenix, Ariz., uses deepweb information to preempt cyber attacks. It received a $450,000 investment offer from Scout Ventures, $100,000 of which is already funded.
An Entrepreneurs' Organization-Houston investment group extended $25,000 investment offers to four finalists, with the intention to mentor the businesses and extend more funding once their needs were explored. Those four companies were Cyr3Con, Tenavox, Campaign Partners and Polco.
Tenavox, based in Austin, is a web platform that provides commercial real estate leads, reviews and referrals. Campaign Partners, of Tysons, Va., gives nonprofits a tool to increase fundraising with artificial intelligence and social networking. Polco licenses online profiles to local governments to allow them to solicit ongoing, reliable, civil input from their communities.
In addition, cash prizes were also awarded. Judges selected Campaign Partners as the winner of the event after two rounds of competition, which included a $5,000 cash prize from Rice's Veterans in Business Association. Purple Heart 3, a security staffing firm, received a $1,000 cash prize for winning the elevator pitch competition. Amegy Bank awarded a $500 cash prize to Tenavox for its outstanding business plan.
Veterans Business Battle was established in 2015 by Entrepreneurs' Organization – Houston and Rice University's Veterans in Business Association. The competition aims to foster entrepreneurship among veterans, grow veteran-owned businesses and give back to veterans seeking to make a difference in the business world. For more information, visit www.vetbizbattle.com
Contact: Sara Yonker, 713-296-0004
SOURCE Veterans Business Battle