We are improving the program this year in many ways, and looking forward to seeing applications from Austin entrepreneurs and entrepreneurs-to-be.
Austin, TX (PRWEB) February 18, 2010
Capital Factory, an Austin-based early stage accelerator for tech startups, today officially kicked off the start of its 2010 "sophomore" season by opening up its second annual call for startup applications. Founded in 2009 by local entrepreneurs Joshua Baer, Sam Decker and Bryan Menell, the program's goal is to get a startup pointed in the right direction with a clear path to profitability and growth through an intensive 10-week mentoring program where finalists will receive benefits including up to $20,000 in cash, business and operational support and weekly mentoring sessions with proven, successful entrepreneurs.
The deadline for startups interested in applying to be part of the 2010 Capital Factory program is April 2, 2010. The application is available online at http://www.capitalfactory.com/apply.html. While the focus is primarily on early stage technology companies, there is no official limitation on the type of company that can apply for consideration. Capital Factory will announce the five selected companies by early April, and then will kick off its 10-week summer program following Memorial Day on June 1st.
"Last year's Capital Factory program demonstrated that 10 weeks can make a huge difference in a company's future, and mentors continue to be involved in those first-year companies," said Sam Decker, Managing Director of Capital Factory. "We are improving the program this year in many ways, and looking forward to seeing applications from Austin entrepreneurs and entrepreneurs-to-be."
During the program, Capital Factory and select partners will provide the 2010 class of companies the following resources and benefits:
- Up to $20,000 in cash
- Weekly mentoring sessions
- Investor introductions
- Basic IT infrastructure for email, website, version control
- Office space
- Company formation and legal documents
- A logo and corporate identity if needed
- Service provider introductions
- Recruiting support
- Press support
Capital Factory's 2010 season and program will culminate on September 9th when they host the second annual "Demo Day" for the selected companies. Angel investors, early stage venture capitalists, entrepreneurs, media and more will be invited to come out and see the portfolio companies' demos as well as help them identify next steps and suggestions for achieving optimal success. In return for entrance into the Capital Factory program and a successful launch of their company, Capital Factory receives a five percent equity stake in the portfolio companies under founder-friendly terms.
"Based on the success of last year, we expect to see an increase in benefits to entrepreneurs who are chosen for the program," said Bryan Menell, Managing Director of Capital Factory. "We're already seeing an increase in interest from partners and investors to get involved."
Mentor Class of 2010
Mentorship was a key focus and invaluable resource for the portfolio class of 2009 and will remain a large focus of this year's Capital Factory season. Capital Factory is pleased to announce three new mentors coming on board to participate this year, including:
- Kenny Van Zant - Senior Vice President and Chief Product Strategist, SolarWinds
- Rony Kahan - CTO and Co-Founder, Indeed
- Samy Aboel-Nil - Co-Founder, Sane Ventures
"Aspiring entrepreneurs want to talk to other successful entrepreneurs who have been through it before," said Joshua Baer, Managing Director of Capital Factory. "This year we've raised the bar by adding more incredible entrepreneurs with a diverse range of startup experience."
"Just being able to talk to someone who has done it before and who probably knows if not the right answer, something close to the right answer, is invaluable," said Chuck Gordon, CEO of Sparefoot.
Additionally, returning mentors from the 2009 season, who make up an impressive "who's who" of local experienced technology entrepreneurs, include:
- Joshua Baer - Founder and CEO, OtherInbox
- Sam Decker - Chief Marketing Officer, Bazaarvoice
- Bryan Menell - Director, Dachis Group
- Brian Beard - Partner, Wilson Sonsini Goodrich & Rosati
- Jeremy Benken - Chairman, BuzzStream, and General Manager, ApartmentRatings.com
- Andrew Busey - Founder and CEO, Challenge Games
- Ian Clarke - Founder and Coordinator, Freenet Project
- Jason Cohen - Founder, Smart Bear
- Russell Hinds - Managing Director, RSH Ventures
- Ryan Koonce - Founder and CEO, Westlake Products, Inc., Owner and Operator, SuperPoints Network
- Kip McClanahan - CEO, Socialware
- Adam Moore - Co-Founder and Co-President, Springbox
- Marc Nathan - Director of Development, Houston Technology Center and Marketing Chairman, Houston Angel Network
- John Price - CEO, Vast.com
- Mellie Price - Founder and CEO, Front Gate Tickets and Front Gate Solutions
- Yvonne Tocquigny - CEO, Tocquigny
- Michael Trafton - Founder and CEO, Blue Fish Development Group
- Marc Yagjian - Managing Director, Origin Partners
For more information on Capital Factory, or to find out other ways to get involved, visit http://www.capitalfactory.com. The application for interested startups can be found at http://www.capitalfactory.com/apply.html.
About Capital Factory:
Capital Factory is an early stage accelerator for tech startups based in Austin, Texas. Startup companies participate in an intense 10-week summer program that gives them up to $20,000 in cash, more than $20,000 in free services, and mentorship by a group of successful entrepreneurs. The program culminates in a demo day where the startups present to investors, the press, and the world. For more information on Capital Factory, please visit the web site at http://www.capitalfactory.com, or find Capital Factory on Facebook at http://www.facebook.com/capitalfactory, or on Twitter @capitalfactory.