First Growth Venture Network Accelerates Growth of Promising Entrepreneurs: Application Process for Third Vintage Now Open

New York City, NY, December 8, 2010 –First Growth Venture Network, a program based in New York City for high potential, seed and early stage start-up tech entrepreneurs, is pleased to announce that the application process for its third vintage is now open.
“The ecosystem for start-ups in and around New York continues to develop,” said Edward Zimmerman, chair of the Tech Group at law firm Lowenstein Sandler and First Growth Venture Network co-founder. “First Growth Venture Network is dedicated to nurturing these entrepreneurs and creating the best possible conditions for them to grow into best-of-breed companies.”

FGVN accelerates the first growth of promising entrepreneurs by first, connecting them with its team of advisors made up of venture capitalists, angel investors and successful entrepreneurs, all of whom have spent years in and around tech start-ups; second, providing ample time for small group meetings with advisors; third, providing substantive information and networking across the entire FGVN community; and fourth, fostering a peer group of similar tech leadership teams within the FGVN program.

In June, FGVN announced that nine members of its premiere class, or “Inaugural Vintage” of 15 start-ups, received funding, and one member company was acquired during the program’s first year.

The second vintage started in September with 10 companies including Baublebar, Birchbox, GateGuru, Hour.ly, Milestone Project, Moda Operandi (TrunkShow), Plant.ly, Postling, Roundeux and SkillSlate. A number of them have already received funding. The third vintage begins in January with both classes graduating in June.

FGVN’s group of “Founding Growers” includes leading venture-related entities Battery Ventures, Charles River Ventures, First Round Capital, Flybridge Capital Partners, Highland Capital Partners, IA Ventures, North Bridge Venture Capital, OpenView Venture Partners and Valhalla Partners; angel investors Grape ArborVC and AngelVineVC; the Tech Group at law firm Lowenstein Sandler; and the tech investment banking firm GCA Savvian.

The program accepts applicants who are working full time on a tech start-up, featuring a first or second time CEO. Notably, FGVN does not require cash or equity from the companies that participate.

For more information on and applying to the program, please visit www.firstgrowthvn.com or contact: [email protected]

The Lowenstein Sandler Tech Group is a leading tech and venture capital law practice that has closed well over 200 venture and angel deals in the last two years. From offices in New York, Palo Alto and Roseland, the Tech Group represents VCs, angels, PE funds and the companies they back in critical transactions (M&A, financings, strategic alliances) and protecting and commercializing intellectual property.

About Lowenstein Sandler
Lowenstein Sandler PC is a nationally recognized corporate law firm with offices in New York, Palo Alto and Roseland, with approximately 255 attorneys providing a full range of legal services. The firm’s commitment to its clients is demonstrated through its client-centered, service-oriented culture. Lowenstein Sandler attorneys are regularly recognized for excellence by clients and peers in national publications, including The Best Lawyers in America, Chambers USA: America’s Leading Lawyers for Business and The Legal 500.
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