As I promised, I’m attempting to write a series of possible ways for BC start ups to get some cash infusion. Why? Because you have a great idea. You have a partner. You have friends in the right places. BUT. You don’t have money to make it all happen. And for this next tip, you don’t even have to live in BC or be a BC-based start up. In fact, any technology company that needs money (and has a super-duper idea: the emphasis being on super-duper) can apply. But, I wanted to focus on BC, so here it is.
Based in Boulder, Colorado the choosen few companies– 20 in total out of 300-400 entries– will spend the summer in either Boulder or Boston, developing their idea. If you’re selected, you get $18,000 maximum or $6,000 per founder to get the business off the ground and running. In addition, you receive major brain power a la mentors, introductions and networking. In the end, Techstars receives a 6% equity stake in your company. What else?
Can you tell me more about the networking and educational opportunities?
About two or three times per week, we will organize an informal dinner and invite our mentors to speak on a relevant topic. These will be presented as appropriate by highly successful entrepreneurs, angel investors, legal experts, venture capitalists, investment bankers, etc. Sometimes, we’ll just organize a brief talk with Q&A by a CEO or CTO of a well known local startup. We’ll even venture out to some of these companies (such as Photobucket, Newsgator or Rally Software) and do the session there. Typically, top executives and techies from Microsoft, Google, Yahoo, Amazon, and more visit and provide early feedback and opportunities to our companies. Here’s an example where Google hung out with us in 2008. Generally speaking, they’ll be in the early evening. All of these sessions will be very informal and give you plenty of time to interact with the mentors personally. Here’s a video of one of our sessions with the founders of MyBlogLog, just to give you an idea.
Details: Application deadine is March 21, 2009. 50 applicants will be selected on March 28 to fill 20 spots. The program runs from May 11-Aug 7, 2009.
Application: Apply online or with a video.