Official Provo Labs Announcement

Provo Labs is now funded. Our small incubator team intends to launch between 12-20 internet startup companies in the next 2-3 years. We have an office at Canyon Park now (in Orem) but as per our name, we'll be moving to Provo early next year. Our m/o is to generate great ideas, build working prototypes (or live web sites) quickly and by using the best internet marketing techniques, bring enough visitors to each web site that we can prove each concept. If a business idea passes the initial market test, then we will provide enough seed capital to build a team and fund a go-to-market strategy. Our goal is to reach positive cash flow from Provo Labs initial investment. But some startups will need more than just seed capital. If necessary, we'll use to help us find angel capital, or in some cases we might seek venture capital.

UVEF Award winners

Here are the winners of awards from UVEF this year. 1. Mike Proper won the Ron Community Service Award. He was orphaned at age 10 and didn't finish high school, but he has created more than one multi-million business, and his current company DirectPointe is growing by 200% per year. Mike speaks often to high school and college students. He has helped create a public private partnership to help single moms escape the dead end of low paying jobs.

UVEF luncheon today

I should have blogged about this a few days ago. UVEF is holding it's annual December awards banquet at noon today at the Provo Marriott. Keith McCord will be the master of ceremonies. Pay $20 at the door and learn about the top entrepreneurial businesses in Utah this year (as judged by our UVEF board of trustees.) This is always a great networking opportunity for Utah entrepreneurs.

Mark Cuban post on preloaded iPods

Mark Cuban has a great post on how nice it would be to be able to fill up mp3 players with 30-100 GB of great content and listen to our hearts content. Not only is there a problem with the "statutory mechanical royalty rate" per song that makes this prohibitively expensive, but one of my companies tried to pre-load other content (audio books for which it has rights) onto iPods last year only to find that when customers configured the iPod for their computer system they lost everything that had been pre-installed.