Industry Software Website www.codelaunch.com Founded April 2011 | Founder Jason W. Taylor Headquarters Frisco Type of business Startup Competition | |
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CodeLaunch is an annual competition between individuals and groups who have software technology startup ideas. The competition is produced by Frisco, TX based custom software consulting company Code Authority with help from some entrepreneurial sponsors around North Texas. The concept was founded by Code Authority in 2010 and has benefited at least 7 startup companies. Ideas for mobile applications are common but the competition is also open to cloud based SAAS line of business applications and any idea which would require a software development project to “launch”. The competition targets “embryonic” stage and “very early” stage startups. Well-established brands with already existing products in the marketplace are welcome, but are not the primary focus. The purpose of the competition is to create a medium through which the best people and ideas can connect with investors and conversely investors can find projects which they wish to support. Competitors are not required to give up any equity and not obligated to partner in any way. It does not cost anything to participate in the competition.
Contents
Applications and Selection Process
Each year from January through May competitors can submit their software ideas through the CodeLaunch website. Each application includes a mutual non-disclosure agreement to protect the idea and applicant. The competition is open to anyone regardless of location as long as they are willing to commit to travel to Frisco, TX at their own expense in the event they make it to the final stage - CodeLaunch Pitch Day. It is common for applicants to apply from across the United States and Canada. After the May 31 deadline, a vetting and selection process is performed by the leadership team at Code Authority. Criteria such as size of the project, potential for competition, subject matter appeal, and business acumen of the applicants are used to narrow down the list of potential winners initially. Eventually, “finalists” are selected and invited to CodeLaunch Pitch Day. There have been 3 to 5 finalists invited to CodeLaunch Pitch Day each year.
Sponsored Workshops & Benefits
A group of sponsors helps produce the event and provides benefits to finalists and prizes to winners. Finalists are offered the chance to participate in a Business Plan Workshop and an Effective Pitch Workshop prior to the Pitch Day event to refine their offering. These workshops also help prepare them for the event. Other sponsors provide prizes to winners or offer services relevant to entrepreneurism.
CodeLaunch Pitch Day
CodeLaunch Pitch Day is in August each year. A third-party, independent moderator keeps the program running smoothly. 3 to 5 judges are chosen each year who have experience and credibility in the field of entrepreneurism. It is customary for the prior year’s overall CodeLaunch winner to participate the following year event as a judge. The finalists are put into a random order and are given timed windows during which to deliver their pitch to the judges, investors, and other attendees. The judges are given the opportunity at the end of each pitch to ask professional but challenging questions. Investors and attendees who are interested in discussions, questions, or investment in the competitors are encouraged to do so at the networking event which follows the awards presentation. Upon conclusion of the last pitch, the judges assign winners of predesignated trophies such as “Most Financial Potential”, and Code Authority announces the winner(s) it wishes to offer its services to as an investor.