Urban-Focused Startup Incubator and Media Platform to Fund One Business a Week Starting November 6
LOS ANGELES, OCTOBER 29, 2009 — For eight weeks beginning Friday, November 6, 2009, CASHFLOW (www.thecashflow.com), a startup incubator and media platform, will be investing in entrepreneurs who lack traditional means of entry into the business world, providing them with the resources they need to achieve the elusive dream of launching their own business. The investments will continue throughout the balance of 2009, with plans for extending the program into 2010 soon to be announced.
CASHFLOW is the first incubator and media platform of its kind for entrepreneurs from America's urban centers. All types of legitimate business ideas will be considered, and candidates from diverse racial and cultural backgrounds are encouraged to apply. College degrees, fancy titles and prestigious references are not a prerequisite for participation. CASHFLOW is committed to inspiring, educating and empowering urban entrepreneurs. Each week, one entrepreneur will be chosen to receive up to $10,000 in startup financing.
"We're eager to hear from all individuals who have a great idea they want to develop," said Magnus Greaves, CASHFLOW's Founder and Chief Executive. "We want to find young people who are driven to create their own opportunities during a time when economic instability is hitting younger generations especially hard."
Greaves added, "We want to teach individuals, both those we finance and those we don't, how to create sustainable businesses that will generate wealth and create jobs for their community. Think of it as a stimulus package for the streets."
The incubator, which focuses on ventures with potential for short-term profitability and positive social impact, will provide entrepreneurs and startups with training, resources and access to the CASHFLOW mentor team, comprising experts in technology, finance, marketing, sales and more.
To participate, individuals must complete and submit the following:
•    The CASHFLOW online application (background information, elevator pitch explaining your business idea, why you want to do it, how you plan to do it and the expected length of your path to profitability).
•    A short video about yourself — a personal statement describing your qualifications and strengths. What would it mean for you to receive $10,000 from CASHFLOW to help get your business off the ground?
•    If your business consists of a product to sell, and you've already created some samples, CASHFLOW would like to see a working online demo or prototype.
All submissions will carry over until the end of the eight-week period, so individuals will remain eligible for funding even if they are not selected in any given week.
Eight CASHFLOW businesses will be chosen based on the strength of the ideas and the individuals' "Hustle Quotient." The first participants in the fund are expected to begin launching their business in early 2010.
Full details about the CASHFLOW program are available at www.thecashflow.com.
About CASHFLOW
CASHFLOW is where street smarts meet book smarts — making business, investing and personal finance comprehensible and helping smooth young entrepreneurs' path to the top. CASHFLOW doesn't just tell you how to start a business: It plugs you in to a nationwide network of go-getters and mentors who can help make your vision a reality. Others may offer advice, but CASHFLOW is a real-world business incubator and media platform cutting checks to fund businesses all across America.
Starting November 6, 2009, CASHFLOW will fund one entrepreneur each week in the amount of $10,000.
Starting mid November, the full CASHFLOW website will launch focusing on empowering entrepreneurs with the following tools:
The CASHFLOW 50: An exclusive list that profiles self-made entrepreneurs — businesspeople, musicians, philanthropists and more — who exemplify the CASHFLOW mindset and have achieved extraordinary success.
The CASHFLOW Map: An interactive database of 100 cities across America, highlighting everything that makes them great places to start a business — and to live.
Get Smart: Advice and case studies highlighting the most important topics relating to money, business and investing, along with customized plans to guide budding moguls through the process of achieving financial literacy and starting a business.
Get Busy: CASHFLOW will fund startup businesses in cities across America and enable members to participate by reading others' business plans and helping name, design and market their ideas in exchange for money, shares, credibility, recognition and possible employment.
For media inquiries, please contact:
Elisa Marks
pr@thecashflow.com
917-952-9692
Twitter: @the_cashflow
Website: http://www.thecashflow.com
