Case’s Washington, D.C.-based VC firm Revolution, along with partners like Google for Entrepreneurs and Salesforce for Startups, have committed to investing another $1 million to add to the $1.5 million dished out to promising startups during the first 3,000 miles logged on the tour since its launch last spring.
THERE ARE GREAT ENTREPRENEURS AND THRIVING STARTUP COMMUNITIES ALL OVER THE COUNTRY, AND THEIR STORY WASN’T BEING TOLD AS WELL, AND THERE WASN’T AS MUCH CAPITAL FLOWING TO THEM.
“They reached out to us, and we were very excited,” said Archna Sahay, the manager of entrepreneurial investment for the City of Philadelphia. “We’re hoping that we’ll leave a very fond impression, and this will certainly not be the last time Steve and his team visit Philadelphia.”
Like many stops on the Rise of the Rest tour, the day will begin with a showcase of the local culture and a tour of the city’s innovation hubs, key venture capital firms, and startups, before ending with a pitch competition, where one local startup will take home a $100,000 investment.
Sahay, however, emphasizes that Philadelphia and the other stops on the tours don’t consider themselves underdogs in the American startup landscape, as each has its own claim to fame in the industry.
“It feels great to have Steve and the team coming through the city, and we are certainly going to capitalize on the opportunity, but I’ve got to say, the community here knows it’s awesome,” said Sahay. “We’re doing some great things, and we’re just excited to be able to showcase it on that national and global stage and bring more attention to our founders.”
For Case, the tour has evolved from a small project into what he hopes becomes a more complete national tour, championing the mission of both promoting startups outside the main investment hubs and bridging the gaps between innovative companies and investors operating miles apart.
“When we did the first bus tour, we weren’t quite sure what we were getting into, and thought maybe it would be the only tour,” he said. “We’ve now done 14 cities, and we’ve announced today five new cities. We’re committed to do the Southwest next spring, and in a couple-year period, we will have done a couple dozen cities in a couple dozen different states all across the country. It’s a way of doing what we can to be supportive of entrepreneurs across the country and try to create more momentum in each city.”
Though the tour has been intensive, Case adds that it’s also been fun. Highlights include a pitch competition in New Orleans on a Mardi Gras float, and another in Charleston, South Carolina, on an aircraft carrier.
“As the visibility of the Rise of the Rest has increased and the momentum has increased, it seems like every city is going to raise the bar for themselves to try and top the previous city,” he said. “There’s going to be some crazy things happening in the upcoming cities we’re visiting.”
The Rise of the Rest tour bus will make stops in Baltimore on September 28, Philadelphia on September 29, Buffalo, New York, on September 30, Manchester, New Hampshire, on October 1, and Portland, Maine, on October 2.