June 15th, 2021
5:30 - 6:30 PM
Innovation Portal: 358 St. Louis Street, Mobile, AL 36602
Information about Portal Fund
Purpose:
- Support founders in the Gulf Coast region
- Encourage venture development
- Attract and retain founders in the region
- Encourage ventures to create jobs
- Attract and retain talent in the region
- Prepare founders for follow-on, equity-based funding
- Create deal flow for funders
Eligibility:
- High-potential founders
- Venture based in the Gulf Coast region
- Ventures with high potential for rapid growth
- Ventures in any sector
- Ventures in early stage of development
- For-profit ventures only
- Submissions must be the original idea of the applicant
Evaluation process:
1.) Portal staff review for completion & eligibility
2.) Council review, deliberation, semi-finalist selection
3.) Semi-finalists interviews with Council
4.) Council review, deliberation, finalist selection
5.) Pitch evaluation with Council and Panel, deliberation
6.) Council investment decisions
Requirements:
- Identify milestones and goals for the following year
- Develop timeline and action plan to achieve milestones
- Meet regularly with Portal staff
- Report regularly on venture status and progress
- Prepare for follow on funding
- Participate in Portal activities
- Provide regular reports for the life of the venture
More detail can be found on the Portal Fund webpage:
innovation-portal.com/portal-fund