The Launch Place, originally known as the Southside Business Technology Center, has evolved from a small business consulting service to a leading angel investor in the Dan River Region since its inception in 2005. With over 20 startup success stories, the organization has heavily invested in tech-based startups, including VitalPlan, a holistic health company that benefited from financial support and networking opportunities. The Launch Place, which transitioned to angel investing to meet the growing demand from startups, was formed after partnering with the Danville Regional Foundation to develop a strategic plan and create more venture capital funds. The organization continues to support tech startups and offer consulting services for small businesses.
The Evolution of The Launch Place
The Launch Place has invested in over 20 tech startups in the Dan River Region since it formed in 2005. The evolution of the Danville-based organization has taken it from a small business consulting service to a leading angel investor in this part of the country.
Transition to Angel Investing
Under its initial name, the Southside Business Technology Center, the organization worked to provide consulting services to local small- and medium-sized businesses at affordable rates. But after a few years, SBTC started seeing more requests from startups and less from established companies.
The Creation of The Launch Place
SBTC couldn’t provide funding for startups, so the organization decided to create an angel investor network of private individuals in the region to aid these startups. The Launch Place was formed after partnering with the Danville Regional Foundation to develop a five-year strategic plan.
Investment and Growth
The Launch Place received funding from the Danville Regional Foundation to create more venture capital funds, leading to investments in tech startups from Virginia and North Carolina. The organization now has around 25 companies in its portfolio.
Success Stories
One of the companies in The Launch Place’s portfolio is VitalPlan, a holistic health company that received financial support and networking opportunities from The Launch Place. The organization continues to invest in tech startups while also offering consulting services for small businesses.
Question & Answer
What is The Launch Place and how has it evolved since its inception?
The Launch Place, originally known as the Southside Business Technology Center, has evolved from a small business consulting service to a leading angel investor in the Dan River Region since its inception in 2005.
How many startup success stories has The Launch Place been involved in?
The organization has been involved in over 20 startup success stories in the tech sector.
What led to the transition of The Launch Place to angel investing?
The transition to angel investing was driven by the growing demand from startups in the region, prompting the organization to shift its focus from consulting services to investing in tech-based startups.
Can you provide an example of a successful company in The Launch Place’s portfolio?
One of the successful companies in The Launch Place’s portfolio is VitalPlan, a holistic health company that benefited from financial support and networking opportunities provided by the organization.
