CodeLaunch is an annual seed accelerator competition between individuals and groups who have software technology startup ideas.[1] The event was founded by Code Authority, a software development company in Frisco, TX in 2012. Since then, CodeLaunch has accelerated at least 13 startup companies with 27 presenting finalists since inception and has received over 1,000 applications from individuals or groups who submitted their software-based startup ideas online for a chance to compete for seed services.[2][3] The purpose of the competition is to create a medium through which great people with great software startup ideas in the pre-MVP stage can connect with investors and conversely investors can find projects which they wish to support.[4] There’s no cost nor surrendered equity to participate in the competition and all ideas are protected under a NDA.[5]
Startup accelerators, also known as seed accelerators, are fixed-term, cohort-based programs that include seed investment, connections, mentorship, educational components, and culminate in a public pitch event or demo day to accelerate growth. Most startup accelerators in Silicon Valley and globally are privately funded as an investment fund that take equity and focus on a wide range of industries.
A startup or start up is a company initiated by individual founders or entrepreneurs to search for a repeatable and scalable business model. More specifically, a startup is a newly emerged business venture that aims to develop a viable business model to meet a marketplace need or problem. Founders design startups to effectively develop and validate a scalable business model. Hence, the concepts of startups and entrepreneurship are similar. However, entrepreneurship refers all new businesses, including self-employment and businesses that never intend to grow big or become registered, while startups refer to new businesses that intend to grow beyond the solo founder, have employees, and intend to grow large. Start ups face high uncertainty and do have high rates of failure, but the minority that go on to be successful companies have the potential to become large and influential. Some startups become unicorns, i.e. privately held startup companies valued at over $1 billion.
Each year, from January 1st through May 31st, the public can submit their software ideas through the CodeLaunch website.[6] Each application includes a mutual non-disclosure agreement to protect the idea and applicant.[7] After the May 31st deadline, a vetting and curation process is performed by the leadership team at Code Authority and five finalists are selected to pitch their idea to a panel of judges, investors, and attendees at the annual CodeLaunch Startup Expo. In the curation process, criteria which emphasis is placed on to determine the five finalists include size of the project, potential for competition, subject matter appeal, and business acumen of the applicants. The competition is open to anyone regardless of location as long as they are able to travel to Frisco, Texas, in the event they’re selected to pitch their idea as a finalist.
Frisco is a city in Collin and Denton counties in Texas. It is part of the Dallas–Fort Worth metroplex, and is approximately 25 miles (40 km) from both Dallas Love Field and Dallas/Fort Worth International Airport.
Overall Winner Benefits
Out of the five finalists, an overall winner of CodeLaunch is selected by the judge panel. Code Authority and CodeLaunch sponsors provide various seed services to the overall winner in order to help turn their concept to a reality. The value of seed services varies year-to-year. In 2017, the overall winner received services valued at over $35K which included a weekend-long hackathon by Code Authority’s software development team, branding and strategic marketing package provided by The Company, a comprehensive business development plan offered by Optimus Business Plans, and more.
CodeLaunch Startup Expo
CodeLaunch Startup Expo is an even which takes place in August annually. Five 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.[8][9]
The overall winner of CodeLaunch in 2017, Cortex, who received over $35,000 in seed services.
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