JACKSONVILLE, Fla. – It's Day 4 of this year's One Spark crowdfunding festival and there's a lot at stake for the more than 500 creators pitching their ideas.
They're competing for a piece of the crowdfund, but some start-ups are also trying to get an even bigger financial boost.
Venture capitalists are in town looking for companies and ideas that they can invest in. The investors have pledged $3.5 million in potential revenue funding as part of the Venture Vault.
Jason Premo chairs Premo Ventures, and after just days talking with creators at One Spark, he said he's already found at least three businesses he'll be investing in
"The energy level is really high. It's a great city," Premo said. "Ideas are the easy part. Running a company is hard. There's a lot of people with good ideas but can they convert that into a company that scales up?"
Premo said he looks for passion, good chemistry and a company where he can add value -- a company like Charlotte-based Firefly.
He met the owners, Kaitlin and Josh Krogh, at One Spark, and decided to invest in their business, which they describe as Hotwire for restaurants.
"They've got a great team. They presented themselves very well," Premo said. "They already have some customer traction, really just with a little bit of help they'll take off and be great."
The Kroghs said Firefly helps fill tables at restaurants at off-peak hours and days of the week.
"Anytime you get an investment is an incredible surprise and such a delight so we're thrilled," Kaitlin Krogh said.
The Kroghs said they were confident coming in, but they never imagined going home with an investor.
"It's been incredibly exciting," Kaitlin Krogh said. "(We're) thrilled with the outcome of the Venture Vault and definitely appreciative of the opportunity from One Spark to be able to come out and pitch our concept."
The Kroghs said Premo's investment is going to help Firefly with marketing and sales.
At least one of Premo's other investments was made to a company in Jacksonville.