Introducing the Entrepreneur Challenge, Powered by spigit: Sponsored by Keiretsu Forum SoCal, Sun Microsystems, Mashable and Southwest Airlines



    
    Web 2.0 Meets Funding 2.0, Forging a New Way for Technology Startups to
    Engage Investment Communities and Get Evaluated for Real Funding on the
Web
    

    SAN FRANCISCO, Nov. 28 /CNW/ -- As global communication accelerates,
entrepreneurs and investors are seeking new ways to connect with potential
investors. spigit, inc. the smart, social collaboration platform
(www.spigit.com), today announced the official start of the Entrepreneur
Challenge, a competition to discover tomorrow's best innovative ideas and
startups.  Premier sponsor Keiretsu Forum SoCal and co-sponsors Sun
Microsystems, Mashable and Southwest Airlines, will contribute prizes and
support for contest winners.  Additional sponsors include Lithespeed, Killer
Startups, LaunchSquad and Multilingual Eyes.
    "The landscape for startup investments is rapidly changing as the Web
makes it possible to discover pockets of innovation around the world.  Our
intention is to provide angel investors with a structured community for
innovation and investment deal flow," said Chip Parker, Keiretsu Forum SoCal
Chapter President.
    The Entrepreneur Challenge invites entrepreneurs to showcase their start-
ups on the website, develop ideas, business plans and leadership teams, and
connect with industry leaders and investors worldwide utilizing the spigit
platform.  Some 1,000 companies registered for the competition and 130 have
been chosen at this point to participate on spigit's platform for innovation,
which incorporates a market-tested, seven-step process where entrepreneurs
build their reputation based on the quality of their ideas and contributions
to the ideas of others, earn badges and expert approval, and finally, launch
their company on a virtual stock market.
    "Today, we're opening the doors for the new era of Funding 2.0 with the
launch of our Entrepreneur Challenge.  spigit combines prediction markets,
advanced reputation algorithms and collaboration tools to vastly extend the
reach and relevancy of each participant's connections, pulling investors and
innovators close together from around the world to make real investments and
build real companies," said Paul Pluschkell, spigit CEO.
    The top six startups will be awarded prizes by industry leaders to help
make their dream a reality:  Keiretsu Forum SoCal, one of the nation's leading
angel investment communities and premier sponsor, will offer the opportunity
to present live in front of the forum; Sun Microsystems will supply hardware;
Southwest Airlines will provide nationwide air travel; and Mashable, the
popular social networking news site, will publish live, on-going coverage of
the event and its winners.
    The Innovation Challenge for Entrepreneurs is now live at:
http://innovation.spigit.com/
    "spigit's Entrepreneur Challenge is the first online platform competition
that will truly give an insider's view on the funding process.  The
capabilities of outsiders, insiders and experts to engage in discussion and
push one company ahead of another is the true meaning of Web 2.0 technology at
work.  The opportunity for the participants is not only measurable by their
success throughout the competition, but the buzz that is generated from the
platform," said Adam Hirsch, Mashable Community & Marketing Director
    
    About spigit (http://www.spigit.com)
    
    spigit is the only platform for smart, social collaboration that brings
advanced algorithms to social networking to extract relevant meaning from
social interactions and enable the best ideas and contributors to shine.  The
spigit platform evolves the structure of business innovation and smart
collaboration for today's leading enterprises (spigit for Enterprise),
contests (spigit for Contests) and conferences (spigit for Events).
    spigit recently won The New New Internet Conference "Technology Pace
Setters" Award for advancing the future of social networking technology.
spigit powers innovation discovery for today's leading enterprises, including
SAP; conferences, such as Blog World; and contests for companies such as
Southwest Airlines.




For further information:

For further information: Vincent Chang of Antenna Group,
+1-415-977-1911,  vincent@antennagroup.com Web Site: http://www.spigit.com   
              http://innovation.spigit.com

Organization Profile

SPIGIT, INC.

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