New to Cincinnati this year, Powderkeg is a community-driven organization that hosts bimonthly pitch nights for scaling technology founders. The community helps members move up in their companies through education, media exposure, resources and technologies.
The events are formatted for three scale-ups to pitch their companies to a panel of investors for feedback. After the event, Powderkeg creates a custom piece of content about the scale-ups and their pitch, and then gets them featured in a national publication.
Through events in eight different cities across the country, Powderkeg boasts over 10,000 members; since the program's inception, $576 million in capital has been raised from 421 pitches. Pitches have been featured in national publications like Forbes, VentureBeat and Huffington Post.
Erika Kotterer, events lead for Powderkeg, believes that featuring the startups in a national media outlet helps to get the word out there about startup companies and their growth in the last decade. “We are currently in Kansas City, Nashville, Raleigh-Durham and Indianapolis. We are trying to expose what's going on in these cities to the nation.”
In true Shark Tank fashion, Powderkeg Cincinnati's launch event on Wednesday will feature three rising-star startups — FarmFlx, Cloverleaf and Spatial, all of which are allowed five minutes on stage to pitch their business to advisors (Dave Knox, a brand marketer; Wendy Lea, CEO of Cintrifuse; and Derrick Braziel, co-founder of MORTAR).
FarmFlx is a financial engineering software firm focused on farmland rental contracts. Cloverleaf builds great teams using assessment and other employee data to provide insight into the right people in the right roles for increased team productivity. Spatial is a location data company that uses conversations from social networks to understand how humans move and experience the world around them using AI.
Pitch nights run far and wide, and the Powderkeg staff believes that this model of startup culture will be more sustainable over time.
“Powderkeg has been hosting pitch nights for the last eight years,” Kotterer says. “A lot of pitch and tech nights attract early stage founders, whereas Powderkeg is for scaling tech founders. Powderkeg is also entertaining and fun.”
The Powderkeg launch event will be held this Wednesday, Nov. 8, from 5:30 to 8:30 p.m. at the Woodward Theater. Early bird tickets are sold out, but general admission tickets can still be purchased here for $15. Tickets are limited to the first 150 buyers.