JACKSONVILLE, Fla. – Jacksonville’s startup scene gets a spotlight Aug. 19 when the Jacksonville Venture Competition returns to The Link in Nocatee, featuring six local startups pitching live — with the winner eligible for potential investment.
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“It is a live pitch competition, think a Shark Tank-esque thing, but local to Jacksonville,” said Cheyenne LeMaire of Chang Robotics and the Chang Robotics Fund.
LeMaire says the competition is designed to put founders in front of the kind of feedback—and connections—that can accelerate early-stage companies. “We got a bunch of local companies submitted,” she said. “And then our selection committee goes through those and chooses the six.”
So what separates contenders from the rest? LeMaire said judges focus heavily on the founder first. “Our judges are looking for three things primarily. One, they’re looking to have confidence in the founder,” she said, adding they also look for “high growth potential” and whether the company is “investable from a paperwork standpoint.”
On funding, LeMaire stressed that “eligible” doesn’t mean instant money. “It’s not just a handshake and it’s a done deal,” she said. “You know, there’s legal paperwork … we go through due diligence.”
She also acknowledged why promising startups can still be a pass for investors. “I think the Chang Robotics Fund would pass on a company if they didn’t understand their space,” LeMaire said.
Kent Justice and LeMaire also discussed Jacksonville’s evolving startup ecosystem—and what still needs work. “Jacksonville produces great founders and great companies,” she said, “but… we’re missing the apparatus as a city to support the startups and also missing a sizable pool of capital that understands startup investing.”