Cyrannus Pledges $150K to a Future CodeLaunch Startup! Could You Be a Winner?
Cyrannus Founder Lee Mosbacker has announced two investment challenges for CodeLaunch participants! He has planned a $100,000 investment challenge, as well as a $50K challenge for Impact Startups.
All startup founders who advance to the semifinal round of CodeLaunch will be in the running. Cyrannus Founder Lee Mosbacker wants to reward CodeLaunch participants with the opportunity to get real cash into their business. A Cyrannus spokesperson says there could be two separate winners, but if one winner scored the highest for both challenges, they can receive $150K in investments in total.
Here are the terms:
In order to be in the running, startups will have to make it to the semi-final round of any one of the next five CodeLaunch competitions (though CodeLaunch Ohio 2022 semi-finalists will also be eligible). On January 1st, 2023, Cyrannus will start taking fresh applications from these startup founders.
Once Lee declares the winner of the monetary rewards, the founders (or founder) will be introduced to the Cyrannus network. These are companies that help startups build and market their product.
“Not only will they get the cash, but also be introduced to a network that will help them refine their idea and get ready for their first big fundraiser,” Lee says.
The money will be invested either through an SPV or SAFE agreement. Lee says he wants Cyrannus to lead the winning startup to another leading investor and is not looking for equity or to set any terms.
Wait… there’s more news!
Along with this major announcement, Lee revealed that Cyrannus will be a CodeLaunch presenting sponsor for the next five shows! He also gave us insight into the growth of Cyrannus this year.
Cyrannus will keep creating high-level strategy blogs investigating technical due diligence. In January 2023, they will open the Cyrannus network. This will be a portal where people can submit their business plans, and experts will score them.
The third part of Cyrannus will be a curation of companies that will be validated by the Cyrannus network. These companies will help various startups level up like they plan to do for the CodeLaunch startup that wins the $100,000.
Want to try and win $100,000 AND get all the benefits of CodeLaunch? Apply for our DFW 2022 competition now!
Learn more about our most recent competition here.