SAN FRANCISCO (CBS SF) — Hopeful entrepreneurs got a chance to pitch their ideas to venture capitalists in face-to-face meetings Wednesday when Google teamed up with ride-sharing service Uber.
The promotion between Google and Uber, dubbed ‘Uber Pitch’ lasted four hours, giving each hopeful entrepreneur a ride through Silicon Valley with six partners from Google Ventures, and seven minutes to give their pitch, and then seven minutes to receive feedback.
Google Ventures, the Internet giant’s investment arm, invests some $300 million into startups a year.
“We have a billion and a half dollars under management that we choose to invest in technology founders and businesses every day,” David Krane, general partner with Google Ventures told KPIX 5.
During Wednesday’s event, entrepreneurs used Uber’s app to request an “Uber Pitch.” Those selected were picked up at their location and shuttled around Silicon Valley while making their pitch inside an Uber vehicle.
“If you don’t secure a pitch on your first attempt, keep trying!” said Google Ventures in a blog post. “Nothing ventured, nothing gained.”