So, at least one of the companies that was born on a fetid, bumpy bus to SXSW has just been offered a first round of funding.
No term sheets have been signed, but a team from one of the companies that rode buses from San Francisco, Chicago, New York, Miami and Cleveland has been offered $10,000 in angel funding. The team did not want to publicize their name because the deal is still in the very early stages.
Several companies from the Startup Bus competition–a hackathon that challenges entrepreneurs to build a company, from pitch to product to business development, on a bus to SXSW–have been pitching investors at the trade show this weekend. Start-up bus companies have managed to get stickers and t-shirts and other merch made for the event, and many have built beautifully-designed mimimum viable product. The five-day old companies are nearly indistinguishable from the more mature companies handing out swag at the trade show.
ajeffries [at] observer.com | @adrjeffries