You can tell there's lots of liquidity out there from the growing number of companies devising entertaining ways to give money to startups. Levi Strauss and Absolut, tapping the entrepreneurial zeitgeist for marketing purposes, have launched glitzy contests for modest amounts. The firm will pick 64 teams with plans for Internet startups from universities and colleges.
Partners fan out to meet the contestants.
The four regional finalists will come to San Francisco to meet all the partners. One winner takes the prize. The format was John Hummer's idea. It's not a frivolous contest, insists Dan Beldy, another partner. We wouldn't do this to have fun.