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Daily Archive for September 19 2014

Local entrepreneur wins instant cash capital at ‘Thrive’

ThriveLogoThanks to the Charleston Area Alliance, one young entrepreneur now has cash capital for her startup business.

Katie Rugeley, owner of The Initialed Life LLC, defeated seven other businesses earlier this week at “Thrive,” the Alliance’s annual crowdfunding event.

Last month, a blind panel selected eight Kanawha Valley-based entrepreneurs, with five or fewer employees, out of a pool of applicants.

These entrepreneurs each worked with Robinson Creative to produce pitch videos to promote their business and need for crowd funds.

To attend and participate in “Thrive,” community members paid $20 a ticket. In return, they received beverages and food, but more importantly, they got to vote for the entrepreneur that they wanted to support.

The entrepreneur with the most votes received $20 times the number of attendees as cash capital to invest in their business.

Rugeley was the night’s top vote getter. She won $4,200 in cash capital for her business, which specializes in custom monogrammed and embroidered items.

Click HERE to view Rugeley’s pitch video.

With the money, Rugeley plans to buy a second commercial embroidery machine, which will help double her output.

The Alliance is proud to help entrepreneurs earn seed capital for their businesses.

“Thrive” is a program of the Charleston Area Alliance and part of the Innovation driver of its Vision 2030 initiative.

Project partners include Generation Charleston, the Alliance’s young professionals group, Blue Creek Gas Company, Terrell Ellis & Associates, WV Jobs Investment Trust Board, BB&T and Industrial Bolting.

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