Demo your startup to win a $100k convertible note. Bring It. Kill It. Get Paid.

'Getting paid' and/or winning a prize is a very different thing from taking an investment. You don't 'win' a convertible note, you agree to give up an as-yet-to-be-determined portion of your company for it.<p>The participants will almost certainly understand this, but I still find the rhetoric a bit off-putting.

The event is Sponsored by Rackspace <a href="http://rackspace.com" rel="nofollow">http://rackspace.com</a> (Thanks, you rock!)<p>The VC 'funders' are Ludlow Ventures (<a href="http://ludlowventures.com" rel="nofollow">http://ludlowventures.com</a>) &#38; Detroit Venture Partners (<a href="http://detroitventurepartners.com" rel="nofollow">http://detroitventurepartners.com</a>)<p><i></i>I should also mention this is a non-profit event<i></i>

<a href="http://www.businessfinance.com/convertible-note.htm" rel="nofollow">http://www.businessfinance.com/convertible-note.htm</a>

But if it's in Detroit what are your chances of getting out of the city with the money?

&#62; we're as transparent as a new layer in photoshop...<p>That has to be one of the most interesting descriptions I have heard for ANY investor.<p>I have no affiliation with that company or the investors.<p>That line was pretty clever though.

As a developer working w/ a MI based startup this is intriguing. Well see how it plays out but its an encouraging sign for startup's outside of the sv-hub.

if travel_cost &#60; win_chance*100000 then go() end<p>DVP has a mission statement in investing in Detroit companies, does this mean there is a bias towards locals?<p>EDIT: yes you're all correct - the formula is more complex than that, I should have said that for many people (including myself) the other factors are an order of magnitude less substantial.

So great to see that this is running as a non-profit. I think it's an awesome initiative and looking forward to the event.

Wow, it's like a battle of the bands for startups.<p>This would be a great premise for an episode of an as-yet-unproduced TV show about startup founders. However, the people watching would probably think that it was completely contrived.

I'm willing to believe this is entirely aboveboard.<p>But the name rhymes too well with "fly by night".

I'm not sure about a site where the word "transparent" is misspelled as "transparant". Good luck any startups that are attending!

this looks awesome!

"Winning" a chance to give away part of my freedom?

I feel a bubble coming on.

I think this an awesome idea really works well for young startups! <a href="http://stuffbuff.com" rel="nofollow">http://stuffbuff.com</a>