AOL Co-founder to Invest in Start-up | Financial Buzz

AOL Co-founder to Invest in Start-up

America Online co-founder, Steve Case, has plans of visiting New Hampshire. He will invest $100,000 from his personal account in a chosen local start-up. His visit has been scheduled in October. Businesses will compete for top prize, making their pitches to Case. The events will be captured for “Shark Tank”- an ABC Television show.

Desirable prize

According to Jamie Coughlin, a start-up from New Hampshire will get the $100,000. Coughlin is the director of entrepreneurship and teaches at Dartmouth College. He is also the local organizer of the event. Matt Cookson of New Hampshire High Tech Council believes that this can be the most handsome prize for any business pitch in New Hampshire. Cookson is the executive director of the Tech Council.

The Tech Council executive director has said that the winner, in all likelihood, can take advice from Steve Case as he will invest in the venture. Cookson holds the opinion that the advice and guidance could be actually higher than the monetary one. Case will join President Barack Obama on August 4 to announce his intention of investing an extra $1 million in a number of start-ups spread over 10 cities. The investor himself is the Chief Executive Officer and Chairman of Revolution LLC, a Washington headquartered investment firm. The investments will be a component of his continuing “Rise of the Rest” tour. 

Long investment tours

All tours are done on buses. Case’s next leg of his tour covers the distance from Baltimore to Portland. He will arrive at Baltimore on September 28 and to Portland on October 2. Coughlin is trying to finalize the itinerary and other details. He is the President of the New Hampshire Business Incubator Network. 

Coughlin believes that there will be a qualifying round. Case will visit Hanover and Manchester on October 1. He will interact with the Dartmouth College students during that time. 

According to Coughlin, the whole idea behind such activities is to give a boost to entrepreneurs. He describes the latter as any person who has ideas and brings them into the real world. Case, during his three previous tours, has driven a total of 3,000 miles in a bus. The total investment made via this effort is about in the $1.5 million range. All money has been locked on start-ups spread over 14 cities.

Case’s next tour will involve five cities. The total investment for this drive is $500,000. This is a component of the $1 million he is expected to invest during the first week of August.

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