December 22, 2009
I like the startup incubator concept and as we have seen in the last couple of years many have popped up hoping to mimic the success of Y Combinator who has amassed a tremendous track record over the last several years. The concept is simple enough, small companies who have a good idea but lack the knowledge, expertise, and plain know how to build a successful business and launch it are brought in and given guidance and mentorship from folks with proven track records. In turn the “incubator” usually gets a small cut of the company for full use of their facilities and knowledge. It can be a great deal that allows you tremendous opportunity to learn, get great advice, legal help, and incredible exposure for your product.
Now these are nothing new, we have a couple in the local DC area, most notably Launchbox Digital founded by Sean Greene and now FCC Chairman Julius Genachowski. In our Boulder and Boston community we have done some work with TechStars and of course there is Y Combinator in the Boston area along with many others around the country (Leave us a comment with some in your area). According to a post on Techcrunch today, a new one has formed in Silicon Valley called The Start Project. According to the About page
The start project is a collaborative effort to bring great ideas to market. While the founders have a history of successful exits (over half a billion dollars), they are now focused on the initial stages of business creation including: idea generation, software development, product vision, team building, and investment.
Like I said above, what are the business incubators in your local community that you can share with us ? Leave us a comment so we can check it out !
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