Modeled after similar programs around the country, BoomStartup is overdue in Utah. It will provide current and aspiring tech entrepreneurs an ideal opportunity to get their businesses up and running.
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Orem, Utah (Vocus) March 13, 2010
BoomStartup, a seed capital and mentor-focused investment program for web and software startups, today announced it is accepting applications for its summer 2010 program. The organization will choose up to eight companies to participate in its inaugural program. Startups interested in participating in the program should apply by April 12, 2010 at http://www.boomstartup.com/apply .
Based in Orem, Utah at the Canyon Park Technology Center (the original site of WordPerfect Corporation), BoomStartup is a full-time program that runs from May 2010 to August 2010, and provides each selected company with seed capital (up to $15,000), mentoring from successful entrepreneurs and technologists, free office space and resources, and education that takes them through the various steps of getting a tech startup off the ground. Key to the program is the involvement of Âinvestor-mentorsÂ who give of their financial resources and time as mentors.
BoomStartup was founded by John Richards, an entrepreneur and angel investor of multiple successful technology startups. Richards was instrumental in taking InfoSpace, Inc. public on the NASDAQ; achieving a market capitalization of over $38 billion, and later invested in Utah startups including Omniture, which was acquired by Adobe in 2009 for $1.8 billion, and EnticeLabs, a third-generation online human resources solution company, whose customers include Fortune 500 companies.
ÂModeled after similar programs around the country, BoomStartup is overdue in Utah,Â said John Richards, BoomStartupÂs Founder and Managing Partner/Mentor. ÂIt will provide current and aspiring tech entrepreneurs an ideal opportunity to get their businesses up and running by presenting each company with seed capital, mentoring and networking from successful entrepreneurs and technologists.Â
Applicants for BoomStartup must meet the following criteria:
Â A founding team (two or more Â no solists) and an idea.
Â Companies with a focus on web, mobile, software, and non‐hardware tech.
Â Highly-scalable businesses.
Â Full‐time commitment to the Utah-based program (From May to August).
Â Must have a CTO/master coder with at least 20 percent equity.
Â Work from BoomStartupÂs Orem, Utah-based offices.
This yearÂs investor-mentors are headlined by Omniture co-founders Josh James and John Pestana. Other mentors include Ralph Yarro, an entrepreneur and investor with a background at Novell, Canopy Ventures, and is currently founder and CEO of ThinkAtomic; Nobu Mutaguchi, a major real estate developer in Japan and one of UtahÂs most prolific angel investors; Martin Frey, a former Cisco executive and partner of Utah Angels and Olympus Angels; Rod Watson, a former executive with HP and current angel investor; and Warren Osborn, an active entrepreneur and venture and private equity investor, and founder of the Pebble Foundation (formerly Seastone Foundation).
Continued Richards: ÂThis group of investor-mentors has a track record of growing successful businesses and creating innovative technologies. Their expertise and vision will be invaluable to the selected companies, and give them the know how to overcome the obstacles they might confront, whether that be on the business or technological side.Â
BoomStartup will host a series of ÂMeet the Investor-Mentor DaysÂ each Friday at 4 p.m. through the April 12, 2010 deadline; the first will be held Friday, March 12, 2010 at 4 p.m. at the Canyon Park Technology Center, Building J (1401 N. Research Way, Orem, Utah). Investors-Mentors will be on hand to talk with prospective applicants about business, technology and discuss strategies for their businesses.
For more information about BoomStartup or to apply, visit http://www.boomstartup.com .
Based in Orem, Utah, BoomStartup is a mentorship-focused investor program focusing its efforts on providing seed capital, mentors, and markets for its energetic tech entrepreneur participants. BoomStartup is a four-month, summer program (May-August) that mentors tech startups from ideation through execution. For more information, visit http://www.boomstartup.com.
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