Betaspring is a mentorship-driven startup accelerator program for technology and design entrepreneurs who are ready to launch a company and change the world. Apply by 6/12 for our fall session, which begins on 8/26.
Betaspring Companies Automatically Eligible for $50K Equity Investment
11.17.11 | mwithers
We are excited to announce that companies completing our program are automatically eligible for a $50K equity investment from the City of Providence.
Teams accepted into Betaspring's Spring 2012 program will be eligible for this investment. In light of today's announcement, Betaspring has extended its application deadline to midnight on Tuesday, November 22. Applications must be submitted at betaspring.com. The spring session kicks-off on February 6 in Providence.
The City has also offered the investment to companies that completed Betaspring's Summer 2011 program.
Investments will be made as a $50,000 convertible note. To receive the investment, companies must commit to locate the business in Providence for 12 months.
Betaspring, a charter member of the TechStars network, provides mentorship, seed funding, office space, and immersion into an intense startup community of focused entrepreneurs. Betaspring accelerates ventures in the web/mobile, physical technology and gaming arenas.
This new equity investment program is the first of its kind for Providence and was championed by Providence Mayor Angel Taveras, who has made enabling entrepreneurship and new venture creation in Providence a priority of his administration.
The investments are made possible through the City's Innovation Investment program, a fund established exclusively to support early stage ventures in Providence.