Recently, 500 Startups hosted its semi-annual demo day in the New York Institute of Technology auditorium. 500 Startups gives early-stage companies around the world funding anywhere from $10,000 to $250,000 in terms of seed investments, and also helps the young companies “figure out Silicon Valley,” David McClure, the founding partner, told The Wall Street Journal. In exchange for a 5% stake in the companies, 500 Startups incubates the 25-30 companies in each term for a six-months. McClure told the WSJ that, “We house them in our office and we spend about equal time helping them to build a user platform from their sometimes barely functional prototype as we do on their pitches.”
Demo Day is essentially the completion of the six month incubation program, and is meant to feel celebratory. The sessions take place in California and NY for the tech companies to raise more money. The presenters came prepared with statistics, T-shirts and PowerPoint presentations for the audience. Chalkable curates apps for schools and teachers, and Tuckernuck, gathers preppy brands on one site to provide e-commerce for a certain “All-American” lifestyle. Wanderable, which helps newlyweds register for honeymoons, also presented. Another startup, called StoryPanda, connects families through storytelling, while Reclip.It, offered a contemporary way for clipping coupons.