IsraelStartupNetwork and Blumberg Capital Announce Winners of Pitch Fest

IsraelStartupNetwork and Blumberg Capital announce the winners of their Pitch Fest, held on January 19 in Tel Aviv. Sixteen early-stage Israeli startups competed for an opportunity for due diligence with Blumberg Capital. The three winners - Qmerce, QleeQ and Nooly - were selected by a panel of investors and incubators, and a representative from Microsoft. More than 65 companies applied.

Tel Aviv, Israel - IsraelStartupNetwork, an informal group of over 1,200 entrepreneurs, investors and service providers, and Blumberg Capital, an early stage venture capital firm, announced the winners of the IsraelStartupNetwork - Blumberg Capital Pitch Fest. The event, which was held on January 19, brought together 16 early stage Israeli companies to compete for an opportunity to obtain due diligence from Blumberg Capital. The three winners - Qmerce, QleeQ and Nooly were selected by a panel of investors and incubators, as well as a representative from Microsoft.

The Pitch Fest was organized to provide a networking opportunity for investors and innovative early stage companies throughout Israel. More than 65 Israeli start-ups submitted their applications for an opportunity to present a two-minute pitch to Blumberg Capital and other attending investors. A total of 16 finalists were selected by a prestigious panel, including Blumberg Capital's Israeli representative, Alon LIfshitz, and IsraelStartupNetwork organizers, Arlene Marom, director of Tech River - Services for High Tech, Haggai Yedidya, CEO of start-up, Secure Erasure, and Ken Shostack.

"Blumberg Capital has a strong presence within the Israeli market, and we were proud to partner with the company on such an event. While many venture capital firms claim to invest in early stage companies, Blumberg Capital is one of the few that actually does. And not only do they invest, they invest in 10 - 12 early stage companies each year," said Marom. "Blumberg Capital recognizes the potential in early stage companies and has somewhat of an open door policy, an important strategy which has assured them of an incredibly wide ranging deal flow, including companies that don't fit the usual mold. This policy has proved itself advantageous for Blumberg, and beneficial for the startup community. May their successful strategies be copied here and in Silicon Valley - and everywhere that great startups struggle to be heard."

"We appreciate and empathize with entrepreneurs in Israel and abroad and realize how difficult it is to secure seed funding. We closed nine investments and signed three term sheets in 2010 and expect to have a similar level of activity in 2011," said Bruce Taragin, managing director of Blumberg Capital. "Our due diligence process of coordinating and attending prospective customer meetings is a win-win situation for all involved. Needless to say, we remain bullish on Israel seed investing and are amazed by the energy, quality of deal flow and overall attitude of Israeli entrepreneurs. We look forward to many more decades of collaboration with the Israeli startup community."

The IsraelStartupNetwork - Blumberg Capital Pitch Fest was sponsored by Blumberg Capital and hosted by Shiluvim, the Alumni Association of Tel Aviv University's Engineering School.

About IsraelStartupNetwork
IsraelStartupNetwork (ISN) is an informal group of over 1200 entrepreneurs, investors, and service providers, located in Tel Aviv, Israel. The group's activities include high quality events that enable extensive networking - together with educational, marketing and funding opportunities. ISN partners with a number of associations, companies, and organizations that assist startups in various ways. The group is regularly updated regarding a wide range of opportunities, and has created an ongoing virtual expo for its members, as well as a blog providing information for and about ISN members.

About Blumberg Capital
Blumberg Capital is an early-stage venture firm that works closely with innovative entrepreneurs to build exceptional companies. Our team has over a century of relevant experience collaborating with disruptive technology companies in Digital and Social Media, Mobile and Consumer Internet. Our relevant operational expertise and focused network enables us to be bridge-builders, connecting entrepreneurs with key business, technology, and investor partnerships to drive success. Blumberg Capital is headquartered in Silicon Valley with team members located in New York and Israel.

For further information, contact:
Arlene Marom
Organizer
IsraelStartupNetwork
+972-52-4527179
arlene ( @ ) tech-river dot com
www.meetup.com/israelstartupnetwork
www.israelstartupnetwork.com

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Contact Details

Company Name: Israel Startup Network
Issued By: Arlene Marom
Phone: 972-52-4527179
Address: 3 Rav Ashi St, Tel Aviv, Israel
Zip: 69395
Website: Visit the website

by Arlene Marom (few years ago!)

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