(Photo courtesy of 1776)
1776 cofounder Evan Burfield said that Revolution, the investment firm of AOL cofounder Steve Case, was “just incredibly committed to supporting entrepreneurship in all the places that are not Silicon Valley or New York.”
Case has touted the emergence of startup communities across the country in successive “Rise of the Rest” bus tours.
Revolution’s sponsorship of the Challenge Cup could open up new avenues for funding to participating startups, said Burfield.
“We look at the Challenge Cup as a potential opportunity for investment. So do they,” he said.
In 2016, the Challenge Cup will start out in 50 cities, including Nairobi, Hanoi and Tehran. The local contests will winnow down the field to 135 startups for the next round taking place in nine world regions.
The finalists competing for up to $1 million in cash prizes will eventually face off at the Challenge Festival in June 2016 in D.C.-30-
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