Inmates Pitch Business Plans To Silicon Valley Venture Capitalists

VACAVILLE (CBS SF) -- Inmates at California State Prison-Solano in Vacaville will pitch their business plan ideas to successful Silicon Valley venture capitalists and entrepreneurs Thursday.

The inmate who makes the best pitch during the competition will win funding for a start-up business when he is released on parole.

It's the first time that Defy Ventures has hosted the competition in a Level III prison yard.

The inmates have been participating in Defy Ventures' rigorous program, which teaches job skills and development of business plans. The New York City- based company harnesses the natural talents of formerly
incarcerated individuals toward legal and profitable business ventures, shattering the stigmas against the country's overlooked population of former inmates.

The Silicon Valley venture capitalists and entrepreneurs will provide resume critique and business coaching to the inmates, who are considered entrepreneurs in training.

The event begins at noon and the final competition begins at 2:45 p.m. The prison is located at 2100 Peabody Road in Vacaville.