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 FundingUniverse.com to help us find angel capital, or in some cases we might seek venture capital.
Amazon owns Alexa, and today Alexa is announcing a web service that allows developers to make special requests for content during Alexa's web crawls. The Wall Street Journal article gives the example of asking the crawler to help you identify new music files or images that have recently been posted to the web.
AMD and DOL (the largest ISP in Turkey) are rolling out an internet-enabled 3 pound computing and communicating devices for $19.95 per month. Radio Shack sells a US version. AMD wants 50% of the world population to have computing devices by 2015. (See article)
Check out my latest article in Connect Magazine that gives my impressions of the Shop.org event in Las Vegas earlier this year. Let me know what you think of the article. And please, tell me topics you would like me to cover next time? Remember, at Connect you are the "editor-in-chief" so let me know what you want to see.
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.
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.
Business 2.0 had a great article back in June about how entrepreneurs are creating instant companies by coming up with great ideas and outsourcing just about everything. Here's an excerpt:
In sum, four guys with a great idea, some good contacts, and a loan to cover initial inventory figured they could go head-to-head with Nike (NKE) in just 60 days.
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.