Kunz is the CEO and co-founder of BoomStartup, which bills itself as an entrepreneur incubator program, designed to offer mentorship and everything else technology startups need in their first year of existence. So it was with excitement that Kunz recently watched the 12 companies that participated in BoomStartup's most recent summer program strut their stuff in front of investors.
That event took place Aug. 8 and was the culmination of BoomStartup's summer program. For three months, the 12 companies had received mentorship from local serial entrepreneurs and CEOs, and they were finally ready to take an important step in securing their futures. Most of the companies were hoping for $500,000 to $1 million from investors to fund them for the next year.
Kunz said the investors were impressed.
"All the investors made the comment that this was the best demo day we've had," Kunz said. "The investors are looking for two things -- if the company can generate revenue... and have these companies raised any money yet?"
The founding teams of the companies, which were selected for the program from around 875 applicants, had spent the previous three months in Utah at one of BoomStartup's campuses, located in Sandy and Provo, to be close to the mentors, who offer guidance on strategies and networking opportunities.
Now BoomStartup is bringing that to Park City, opening a local campus, at 2750 Rasmussen Road, in partnership with PandoLabs and the Park City Angels Network. The location will make it easier for mentors who live in Park City to connect with companies in the program.
"We wanted a Park City location to give us a geographic reach," Kunz said. "These mentors like to be close to home. They'd rather be close and not have to drive to meet with these companies."