Effective Capital and VentureOutNY support French entrepreneurs in New York from 6 to 10 January 2014. The VentureOutFrance event is an initiatory “business” journey to present the opportunities of Silicon Alley.
Effective Capital and VentureOutNY wish to discover the opportunities currently available for French entrepreneurs in the city of New York. They have conceived of VentureOutFrance as a journey which will takes plac from January 6 to 10, 2014, with the objective of benefitting from high-level meetings with investment funds, successful entrepreneurs and companies based there. This will also be an opportunity to participate in the famous NY Tech Meetup (www.meetup.com/ny-tech/) where entrepreneurs rub shoulders with American investors.
To participate, companies must not have raised more than 5 million dollars in funds, be French and must wish to move to New York or to open a branch there to cater to the American market.
The 10 companies invited have been selected by a board of experts composed of Jonathan Zisermann (co-founder of Mediastay, member of 50 Partners), Yohan Ruso (former DG of Ebay France, CEO of Priveal), Benjamin Hakoun (FittingBox) and Sébastien Mejean (Sojeans), and accompanied by Ilan Elbase (Effective Capital), who will also elect the candidates which will be offered a scheme worth 1200 euros per person by Effective Capital.
The objective of VentureOutNY is to promote the development of start-ups in the United States. In this framework, the entrepreneurs will be supported in taking the legal and logistical steps to move to New York and thus contribute to the influence of ‘Silicon Alley’.
Why NYC rather than Silicon Valley? Effective Capital and VentureOutFrance are convinced that the Big Apple is a real platform for success. Investments in start-ups there are booming: they increased by 30% between 2007 and 2011 while they were down 10% over the same period in Silicon Valley.
Ilan Elbase, founder of Effective Capital, explains: “Since the crisis of 2008 and the general growth in awareness of New York’s dependence on finance, the techno-information sector has become the second largest economic sector after Wall Street in NYC, and already has twice as many accelerators as in the Valley. We want this week to be a real springboard for the companies selected. Above all, we want to support them closely in the long term”.
VentureOutNY is a non-profit organisation with the mission of promoting New York City among entrepreneurs throughout the world. VentureOutNY considers Silicon Alley to be the ideal place for launching a start-up because of the convergence of the media industry, financial services and the great creativity inherent to Manhattan.