WASHINGTON--(BUSINESS WIRE)--The Washington Post Company (NYSE:WPO) announced today that it will sponsor a global competition for digital startups from LaunchBox Digital, a Washington, DC-based investment firm focused on cutting edge mobile and Web technologies. Called “LaunchBox08,” the competition encourages applicants to submit innovative ideas in order to receive seed funding and participate in a 12-week business building program with access to first-rate mentors and advisors.
LaunchBox Digital offers funding to entrepreneurs at an early stage, providing advice and technical support along the way. The LaunchBox08 competition will select six to 10 entrepreneurs from a pool of applicants to receive funding of $15,000 to $30,000.
There was a marked lack of enthusiasm about this on Twitter today, to put it mildly. There seems to be a feeling that they are not seriously interested in local entrepreneurs. $30,000 dollars is not very much money. On the other hand the winners are sure to be featured in the Washington Post and/or Newsweek.