$150,000 West Coast Region University Startup Competition

​5 of the best University Founded B2B SaaS Startups will be pitching live in front of an investor panel and audience of 100+ for a $150,000 investment!

​​​Each startup will pitch for 5 minutes and have 5 min of Q&A. After all 5 pitches, the panel will debrief and then make the $150k investment decision live on the spot.

​​After the investment has been made, there will be food and drinks provided for all the investors and founders attending to meet one another.

​​Founders must create a startup profile on ORCA to connect with investors during + following the event:
https://theorcanetwork.com/opportunity/602

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Investors, before the event, create an account in ~1min at https://theorcanetwork.com/explore?auth=signup

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​​Eligibility 

​​Your company must be B2B SaaS with an in-house tech team or have plans to take it in-house. At least one founder is a student, recent grad (< 12 months) or post-doc with plans to pursue the company full-time. 

​​Investment Terms

​​$150,000 Investment at a $2m valuation cap if the startup has no prior fundraising.  Startups that have raised funds at a previous valuation of $3.5M or less can also compete.  Investment Terms for such teams will be at the terms of the previous round’s valuation.

​​HonorsFund uses a SAFE (commonly used by investors at early stages). Important terms include:

​​- $2m valuation cap or a 20% discount on the next round if no prior funding. This means that upon conversion, the SAFE would become preferred shares at the lower of a $2m cap or a 20% discount.

​​- pro-rata rights since we want to have the right to invest in the next round.

​​- an MFN clause.

​​- a provision that requires our SAFE to convert into preferred shares if there is an equity financing of a minimum amount.

​​The terms of the SAFE are not limited to those described here and are subject to the definitive agreement.  Nothing herein constitutes legal advice.

​​About Honors Fund

​​Honors Fund is a $25m sub-fund created by CEAS Investments, an investment vehicle within a single family office based in South Florida. Our mission is to fund the next generation of student and university founders. Honors Fund is led by Blake Hatten from CEAS and works closely with all of the founders they invest in. Companies that get selected have access to the rest of the CEAS team, our network and other resources we have specifically gathered to help Honors Fund companies.