Brea, California (October 6, 2021) – ViewSonic[i], a leading global provider of visual solutions, is partnering up with Hustle Fund, a pre-seed venture capital firm that invests in early-stage startups, to launch the Acceleration for All Awards (The Affies). The initiative gives aspiring entrepreneurs and startups a jumpstart on their business ideas. Winners will have the opportunity to network with industry greats, win ViewSonic products, and funding. Submission starts on October 6, and ends on November 15, 2021, and is open to participants all over the world.
“At ViewSonic, we are constantly innovating to create cutting-edge products, from monitors to digital display solutions, to enhance the business needs of everyday people. We believe in supporting passionate entrepreneurs and exciting startups with innovative devices and software to realize their dreams, ” says Oscar Lin, General Manager of the Monitor Business Unit at ViewSonic. “We hope that our partnership with Hustle Fund will give the movers and shakers a platform to shine and perform their very best.”
“Starting a company can be incredibly lonely and challenging. But everyone who has built something great all started the same way - by just starting. At Hustle Fund, we appreciate the courage of founders and have made it a goal to unblock their talent with capital. We are excited to work with ViewSonic on The Affies as we share a similar mission to propel great founders with technology. This collaboration between our two companies will bring opportunities for entrepreneurs and startups to learn and grow together”, says Eric Bahn, Co-Founder and General Partner at Hustle Fund. “We also hope to continue our partnership with ViewSonic to create more ways for upcoming businesses to thrive.”
Available to early-stage and mature startups from various industries, The Affies is a program that seeks to invest and fund winning participants. To be part of the competition, keen participants have to submit details on their startup’s product, current progress, and more. Winners will be chosen by a panel of esteemed judges from ViewSonic, Hustle Fund, and Tech Crunch. The five categories include Best B2B, Best Consumer, Best Creator, Best Crypto, and the public-voted People’s Choice.
An exclusive online awards ceremony will be held on January 12, 2022 to announce the winners. The winning startups of each category can either choose to receive an investment of USD 10,000 funding at USD 2 million post-money[ii] valuation on a YC SAFE[iii],or participate in an exclusive six-week series of weekly one-on-one meetings with the Hustle Fund General Partners.
The top-5 startups will also get their hands on brand new ViewSonic products worth USD 6,000 to enhance their productivity. The prizes include the following:
Business displays such as VG2440V equipped with an in-built web camera, VG2456 with versatile USB-C capabilities, and the ultra-wide VG3456 for seamless multitasking
Touch displays such as TD1655 and TD2456 for creating productive workspaces
For more information on The Affies, interested participants may visit the campaign website.
[i] The awards is hosted and sponsored by ViewSonic International Corp., located in New Taipei City, Taiwan. ViewSonic International Corp. is a subsidiary of ViewSonic Corp. located in California, USA.
[ii] Post-money means that the company and the investor agree upfront on both the amount to be invested and the valuation cap of the round. The big advantage of a post-money SAFE is that it provides clarity on how much ownership of the company has been exchanged for the investment.
[iii] SAFE, or Simple Agreement for Equity, is an agreement between the founders of the business and the investor (in this case, it's Hustle Fund). Under this agreement, both parties agree that the initial investment of USD 10,000 provides the investor the rights to future equity (i.e. shares of stock after going public) in the founders' company.