HOUSTON, May 27, 2021 /PRNewswire/ — DonateStock, an emerging fintech company that helps nonprofits access new sources of funding by making stock donations easy, was announced the winner of the Capital Factory’s 2021 $50,000 Houston Investment Challenge.
The virtual pitch competition was hosted by Capital Factory, one of the most active startup investors with a presence across Texas, and Houston Exponential, a non-profit organization created to accelerate the growth of Houston’s innovation ecosystem.
Capping off the Houston Tech Rodeo, the Houston Investment Challenge tasks local startups with presenting their business plan in five minutes or less to a panel of successful entrepreneurs and venture capitalists with the winner earning bragging rights and a $50,000 cash prize.
“Capital Factory’s Investment Challenge is a prominent part of the Houston Tech Rodeo, and we congratulate DonateStock for winning the $50,000 first prize,” said Harvin Moore, President of Houston Exponential.
Steve Latham, founder and chairman of DonateStock, presented the company’s pitch and explained their vision of unlocking $100 billion in new funding for nonprofits.
Andrea Young, co-founder and chief executive officer says, “We are thrilled to have won the Houston Tech Rodeo Challenge and we believe this new partnership with Capital Factory will be a force multiplier as our brand grows.”
Despite the substantial tax advantages of donating stock, less than two percent of donors currently gift stock directly to nonprofits due to the lack of awareness of its benefits, and an antiquated process that is complicated and time-consuming. DonateStock seeks to address these problems to transform charitable giving by making stock donations fast, easy and secure for everyone.
Visit DonateStock.com to learn how nonprofit organizations can unlock a new source of funding by enabling investors to execute stock donations in less than 10 minutes.
About DonateStock
DonateStock was founded to help nonprofits access new funding by enabling everyday investors to donate stock in minutes. The streamlined process helps donors save big on taxes while nonprofits benefit from larger pre-tax donations. DonateStock is passionate about impacting communities by helping nonprofits and donors make the most of charitable giving.
About Capital Factory
Capital Factory is the center of gravity for entrepreneurs in Texas, the number one state for startups in the U.S. Thousands of entrepreneurs, programmers, and designers gather day and night, in-person and online for meetups, classes, and coworking. With boots on the ground in Austin, Dallas, Houston, and San Antonio, we meet the best entrepreneurs in Texas and introduce them to investors, employees, mentors, and customers. According to Pitchbook, Capital Factory has been the most active, early-stage investor in Texas since 2010.
About Houston Exponential
Houston Exponential (“HX”) is an independent non-profit established in 2017 to increase the rate of startup formation and growth in the Houston region. HX acts as a convening organization to amplify the efforts of partnering organizations including startup development organizations, angel and venture capital organizations, innovation-oriented large corporations, and research and other institutions of higher learning. HX also works in coordination with those organizations to attracting talent, capital, and additional partnering organizations to Houston.
SOURCE DonateStock
