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­čô░ Capital Factory Launches 100K Challenge for Tech Startups

[Video still: Harvard Biodesign Lab]

Capital Factory, which calls itself "the center of gravity for entrepreneurs in Texas," has opened applications for the Human Performance Investment Challenge, which will close on June 28.

The finalists will be judged by a panel of entrepreneurs, defense industry leaders, and venture capitalists with $100,000, which will be awarded by Capital Factory on a convertible note, and a "new home" at Capital Factory's Center for Defense Innovation on the line, according to a blog post.

The challenge will take place on July 15 during the first-ever Fed Supernova virtual conference, which is a "first-of-its-kind interactive experience" bringing together entrepreneurs, investors, corporations, and thought leaders in the defense industry, according to the post.

The two-day conference will also include keynotes, lightning talks, "Epic Office Hours," and panel discussions. Army Futures Command's Innovation Combine and xTechSearch programs have partnered with Capital Factory for the event.

To qualify for the Human Performance Investment Challenge, a tech startup must be based in the United States and developing hardware and/or software applications that improve a person's physical or cognitive capabilities. You can apply for the challenge here.

Last year, Capital Factory launched its Center for Defense Innovation in Austin with its initial tenants including Army Applications Lab, AFWERX, Defense Innovation Unit, MD5, The National Geospatial-Intelligence Agency, and a team of Booz Allen Hamilton's defense innovators.

The 23,000-square-foot space has brought together military leaders, entrepreneurs, innovators, and defense industry leaders "to co-create solutions that ensure our armed forces are poised to meet the threats of tomorrow," according to the post.

Last year, 31 Capital Factory community members received funding worth more than $63 million combined through government and defense innovation programs. Capital Factory says it's replicating its Defense Innovation programming in Dallas, along with Houston and San Antonio, to develop the awareness and relationships in the markets that led to Austin's success.

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Capital One's 2018 Future Edge DFW survey shows that 85 percent of residents believe the area is a place for tech-related jobs and innovation. But, if the region is going to become the go-to place for technology, it has to be a collective effort from within, says Sanjiv Yajnik, head of the company's financial services.

As part of the partnership, select UT Dallas student-founders and their teams will get coworking memberships at Capital Factory to further their ventures.

The summit, which is normally invitation only, will feature climate tech innovators, virtual happy hours, and a pitch competition with prizes up to $10,000. Organizers are serious about the deadline. Sign up by April 10, 11:59 p.m.

Capital Factory is opening its first Houston spot. Here's what that means for Dallas-based startups and investors.

This month, the Dallas venture investor and adviser joined Capital Factory as the Vice President of Accelerator and Investment Fund, where he will manage a team across the state in line with the Texas Startup Manifesto.

 
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