|By Marketwired .||
|September 23, 2013 06:26 PM EDT||
WASHINGTON, DISTRICT OF COLUMBIA -- (Marketwired) -- 09/23/13 -- A newly-created technology accelerator is poised to invest in partnerships with early stage tech companies, with a goal of $10 million over the next 3 years.
27SIX sees itself as a hybrid digital innovation agency and technology accelerator. Its backers have plans to award high-potential startups with investments valued at $100,000 each through a quarterly application and award process.
What makes 27SIX unique from other accelerator models is that the award money is designed to be used by recipients towards a menu of world-class technology, creative, strategic and social media services that typically only well-funded companies would have access to.
"Our model gives innovative companies support to grow quickly. By utilizing our extensive channels and relationships with blue-chip brands to sell their product, 27SIX will allow founders to focus on what they do best," said Albert Iannantuono, the co-founder and CEO of 27SIX who is best known for founding Tri-Media Integrated Marketing Technologies Inc., an integrated marketing agency.
The concept came to fruition when a group of thought-leaders and technology pioneers assembled by Iannantuono gathered outside Toronto to discuss the strategic evolution of one of his companies. 27SIX is pronounced 'twenty-seven six' and is derived from the day the idea was hatched - June 27.
By bringing together a distinguished collection of successful founders, intellectuals and investors, 27SIX aims to hasten the growth of "brilliant entrepreneurs and their brilliant ideas" according to co-founder and Chief Innovation Officer, Justin Jarvinen.
Jarvinen is no stranger to startups, having founded several digital media companies including VerveLife, BCKSTGR, Optionit and Photo.com. He is also an active startup advisor and angel investor.
"This concept is different than a typical business accelerator. We call it 'founder friendly' in that we aren't looking to take huge stakes in companies in exchange for space, mentorship and some money. We understand what founders go through, we've been there and done that," says Jarvinen.
"Our intention is to help founders with introductions to big brands looking for transformative ideas," says Jarvinen. "Investors will ultimately be delighted with the results because 27SIX specializes in the areas that are typically the most challenging for most startups."
Joining Iannantuono and Jarvinen is a decorated group of founding entrepreneurs and investors. Among them is Jason Weaver, Founder and CEO of Spendship and founder of Shoutlet, an angel investor and tech advisor; Hank Torbert, a private equity and corporate finance expert who has played key roles in the launch, expansion and acquisition of numerous companies; and Robert Munro, Founder and CEO of The Chrysalis Capital Group, with a deep history of funding and operationalizing startups.
With a goal to accept 5-10 startups in its inaugural application round beginning in early October, 27SIX will soon release eligibility details at http://27Six.com and also alluded to a special pre-launch announcement in the next few weeks.
27SIX is an innovation agency that provides startups with the ability to compete for $100,000 awards that they can use to build and launch their world-class products. 27SIX also creates unique opportunities for global brands and their agencies to gain early and exclusive access to the transformative ideas being hatched by today's brightest minds.