LiftOff Houston/OBO Solutions Center
Purpose of Initiative
LiftOff Houston is the City of Houston’s annual business plan competition. The goal of the competition is to enable individuals to successfully research and develop their business plan. This entrepreneurial initiative aims to empower Houstonians with business literacy education and mentorship to start their own business while contributing to the local growth and sustainability of the Houston economy. The competition will take place in four stages—orientation, workshop, mentoring, and presentation.
To be eligible, applicants must be in the start-up phase of their business. Applicants must have a developed business idea or a business in operation for less than one year, with revenue of less than $10,000. Contestants must live in the Houston city limits and their business must also be based within the city of Houston.
There are award categories for Product, Service, and Innovation. A $10,000 prize will be awarded for the top “Product” based business plan (retail, resale, merchandise, etc.), a $10,000 prize will be awarded for the top “Service” based business plan (food, labor, consulting, etc.), and a $10,000 prize will be awarded for the top “Innovation” based business plan (software, hardware, inventions, new market businesses, etc.).
To apply for the competition, please refer to the following website.
Chuck McCoy, Executive Director
North Texas Angel Network
PO Box 181771
Dallas, TX 75218-8771
Purpose of Initiative
The North Texas Angel Network (NTAN) is a Texas non-profit corporation that seeks opportunities and deals for angel investors. They are part of a statewide network of angel groups that cooperate on deals across the state of Texas.
The North Texas Angel Network invests in early-stage companies and they are particularly interested in companies with innovative products or businesses and the potential for rapid growth in a sizeable market. The company should have a credible growth pathway to an eventual exit for the investors, such as IPO or acquisition. Given the risks associated with angel investing, the NTAN looks for the opportunity to realize a 10 fold return on its investment. This usually means that the company’s pre-money valuation should be in the $1 million to $3 million (if it is higher, this reduces the feasibility of such returns). More specific information pertaining to investment criteria is available through the following webpage.
The North Texas Angel Network typically invests between $200,000 and $800,000 in a single company, but they can raise up to $2 million by syndicating with their affiliates and other financing sources.
Entrepreneurs from any industry are encouraged to apply. Interested companies or entities can begin the application process by completing an online application. This may be followed by an interview, screening meeting, presentation, due diligence, and term sheet negotiation before funding is awarded. For more information about applying for funding through the NTAN, please refer to the following webpage.
Updated March 2018 by Kevine Lidoro