The Boise Young Professionals has a new partner for its second annual competition to start software businesses.
The Boise Angel Alliance is working with the group on b|launched 2.0. The idea behind b|launched is to teach young professionals how to start and develop software companies. The program’s goal is to create one or more software companies per year.
B|launched began last year with five teams, each led by well-known local business mentors. The first phase of the seven-month program involved finding and fleshing out an idea. The second entailed coming up with a prototype.
There are now three companies in beta-test mode that were launched from the Boise Young Professionals program, including Follow & Fund, ADvailable and BOBEC Apps LLC.
Members of the angel-investment group will serve as mentors and team advisers and may offer funding.
Angel investors are wealthy individuals who invest in high-risk, early-stage ventures by reserving a portion of their total investment portfolios to provide emerging companies with capital through direct, private investments. Their goals are to obtain higher returns than the typical public markets provide as well as to help entrepreneurs. Most angels contribute time and experience to help the entrepreneurs with whom they have invested. The Boise Angel Alliance has more than 100 members.
“This will be a new process, program, and way of thinking for the Boise Angel Alliance,” said Garrett Goldberg, chairman of the alliance’s screening committee. “To partner and engage from the very beginning of company creation is new and exciting.”
This year’s b|launched 2.0 program features 40 participants divided into four teams of 10. Each team is headed by two mentors.
“It’s gratifying to see organizations like BYP and the Boise Angel Alliance partner together to cultivate entrepreneurial activity in our community,” said Boise entrepreneur and mentor Faisal Shah. “Connecting with the Boise Angel Alliance to offer these young professionals possible funding resources beyond b|launched is a great natural extension of the program.”
Judging for b|launched will take place Tuesday, Dec. 11 at the Boise Metro Chamber of Commerce, 250 S. Fifth St., Suite 300, Boise. The Boise Young Professionals is a chamber-sponsored group.
