What is it?
The LeClairRyan SCOUT award was created to recognize an entrepreneur or emerging business in southwest Virginia that has a unique idea and is ready to evolve. If you have a business plan and are ready to seek angel or venture capital financing, the SCOUT award may be for you. Every new venture needs someone to guide them through the common pitfalls that can end a good idea before it emerges.
Why apply for it?
The recipient will receive $10k - 15k in complimentary legal services over a 12 month period (maximum of $3k/month). The recipient may choose from the following services:
- start-up counseling
- entity formation
- employment, consulting, and loyalty agreements
- equity-incentive and other employee benefit plans
- financing strategies
- contract drafting and review
- licensing
- trademark application counseling and filing
The award will not cover out of pocket expenses or services not listed above, including, without limitation:
- representation of parties in litigation or other non-transactional matters
- practicing before the U.S. Securities and Exchange Commission
- patent prosecution
How do I apply?
In order to be eligible for consideration, applicants must submit a 60 second elevator speech and a brief (1-3 page) Executive Summary. The applicant also must:
- be based in Southwest Virginia
- have a commercially viable business model that is based on proprietary technology or innovations
- have high growth potential
- have a business plan
- be seeking, or preparing to seek, angel or venture capital financing
Submissions should be sent to scout@leclairryan.com.
Who determines the winner?
The Leadership Team of LeClairRyan’s Venture Capital Practice, along with outside assistance, will view the videos, read the Executive Summaries and choose a winner.
When do I apply?
The cutoff for submissions is December 22, 2009. Winner will be announced on January 12, 2010.
Questions?
Contact us at scout@leclairryan.com.