Local company inLieu was the big winner in Greater Richmond Chamber’s i.e.* inaugural startup competition.

The competition featured 143 contestants, a pool which was narrowed down to 13 finalists who pitched business models and answered judges’ questions before a board of judges as well as a live audience.

InLieu founders Kailey Raymond and Geoff Weathersby, both of whom graduated from University of Richmond in May, were awarded $10,000 to invest in their company. They also received six months of office space at New Richmond Ventures and a $500 credit at LaDifference, a local furniture retailer.

The pair hopes to use the prize money to hire a web developer and officially launch the site in the fall. There will be a lot of resources out there that they will be able to use to make this work for them as they get started, for instance, because they are based online, they will need a solid processing system for payments, so checking out related websites like https://merchantalternatives.com/merchant-services/merchant-accounts/ecommerce-credit-card-processing/ as well as similar others, will help them plan for what they need and make sure they are doing everything possible to make it easier for those who want to contribute online.

InLieu, which is a crowd-funding service for socially conscious gift-giving, was created by Raymond and Weathersby after Weathersby used a similar site to raise the $20,000 for a scholarship fund in the name of his father, who passed away from throat cancer in 2011.

For an event, be it a wedding, birthday, or funeral, inLieu users will create a website allowing their guests to donate the money they would’ve spent on a gift to a specific charity. Users can set a fundraising goal, and all donations will be featured on the website.

“You build a community around this cause,” Raymond said. Governor Bob McDonnell made an appearance at the event, and emphasized the importance of entrepreneurs in today’s economic environment. It is their new ideas, he said, that lead to new jobs and new opportunities.

“To get Virginians back to work, it will take more than government policies and hiring by existing companies. I applaud the entrants in this startup competition and wish them all success in the years to come,” Gov. McDonnell said.