Yesterday, November 2, 2010, Heyo, Inc. announced the release of its new social planning mobile application. Heyo was founded by Frederick Cook and Rishi Ishairzay with seed funding from DayOne Ventures.
Start-up entrepreneurs and company founders the world over ask, "Who gets funded?"
Bill Boebel kindly answered:
We selected Fred and Rishi into the DayOne Ventures summer program because we believed in the two of them. Their initial product idea was questionable, but we saw that these two entrepreneurs were smart, had passion and were extremely willing to take our input. During the summer, DayOne mentors and I worked with them weekly on topics like finance, marketing and product. I primarily focused on their product.
Their journey from the start of the program in May to today has been pretty amazing. They pivoted business models twice, once completely scrapping everything and starting from scratch, each time getting closer to something solid. Without a mentoring program like DayOne, this typically would take entrepreneurs a year or two of trial and error.
We founded DayOne Ventures to help entrepreneurs go through this cycle faster and end up with a business that is better positioned to succeed than if they did it entirely on their own.
DayOne Ventures is housed at VT KnowledgeWorks. VT KnowledgeWorks is a client of Handshake Media, Incorporated, the parent company of Handshake 2.0.