LaunchBox, the startup incubator with an all-star list of advisors/founders, got the nerd equivalent of a gong at the NY Tech Meetup Tuesday night. Moderator Scott Heiferman handled it about as politely as one can, but nevertheless stopped co-founder Sean Greene mid-pitch and downgraded him from a standard 5-minute pitch to a quick “announcement.”
LaunchBox, recall, is an East Coast incubator in the Y Combinator vein: It hands out seed capital and advice to entrepreneurs in exchange for a 4% to 8% equity stake. Part of the pitch is entrepreneurs get access to advisers like Michael Powell (former FCC chair), Jon Miller (ex-AOL chief) and Ross Levinsohn (former Fox Interactive president). Presumably more than a few folks attending a NY Tech Meetup would want to avail themselves of such an opportunity.
So why did LaunchBox get the heave ho? Heiferman says he was acting on behalf of the crowd, who’d been promised some neat technology, not a business pitch. Future Meetup presenters: Consider yourself warned!
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