Rally Up's acquisition by AOL is just the latest proof point that the Santa Cruz/Monterey region is a great place to start and grow companies
Santa Cruz, CA (PRWEB) September 28, 2010
NextSpace, the workplace for the new economy, has formed a strategic relationship with Wavepoint Ventures, LLC, a venture capital firm with offices in Menlo Park, CA and El Dorado Hills, CA. The relationship centers on a mentoring program that NextSpace will deliver to start-up companies looking for help with establishing and growing their businesses. Wavepoint Ventures seeks out innovative companies in markets that are underserved in the traditional venture capital industry. Their strategy involves regional partnerships with local business associations, incubators, and workplace experts.
The goal of the program is to offer advice, training, and practical strategic guidance to innovative, early-stage companies based in the Santa Cruz and Monterey region. The mentoring program is specifically tailored to the needs of each participating company.
NextSpace, with locations in downtown Santa Cruz and downtown San Francisco, focuses on bringing together entrepreneurs, freelancers, independent consultants, university resources, and investors into a collaborative, innovative community. Nearly 250 people work out of NextSpace's two locations. These startups and freelancers run the gamut from social media companies like 12seconds.tv , iPhone app development companies like Streetview Labs, software companies like Intuvo, and a range of independent software engineers, designers, web developers, and other professionals.
"NextSpace is an ideal regional partner for Wavepoint because we have a deep understanding of the entrepreneurial landscape in our region. We've got great relationships with the local start-up and angel communities and are very plugged into what's happening in the engineering, biotech, and digital media programs at UC Santa Cruz" said Jeremy Neuner, Co-Founder and CEO of NextSpace. "Wavepoint is perfectly in sync with our philosophy of finding and encouraging local talent."
This announcement of the NextSpace/Wavepoint relationship comes just a few weeks after the announcement that AOL acquired Rally Up, a mobile applications company that was launched at NextSpace, to become part of AOL's mobile division. "Rally Up's acquisition by AOL is just the latest proof point that the Santa Cruz/Monterey region is a great place to start and grow companies," continued Neuner. "Working with Wavepoint will allow us to build on that kind of success."
"The Santa Cruz region has a long and rich history of innovation and creating great companies," says Peter Gardner, Managing Director for Wavepoint Ventures. "NextSpace is an ideal partner for helping to not only develop deal flow, but also deliver sound advice to local startup companies and help support the local entrepreneurial community."
NextSpace's relationship with Wavepoint delivers a unique combination of capital, advice and an innovative work environment that can provide a path to success for businesses in Santa Cruz, Monterey and the surrounding region.
NextSpace is the workplace for the new economy. NextSpace provides innovative physical and virtual infrastructure that freelancers, entrepreneurs, and creative class professionals need to succeed in the 21st century knowledge economy. In an increasingly disconnected world, NextSpace creates a collaborative community that is revolutionizing the nature of work. With locations in Santa Cruz, CA and San Francisco, CA, NextSpace offers collaborative working environments that meet the workplace needs of hundreds of different professionals from all walks of life. More information is available at: http://www.nextspace.us
About Wavepoint Ventures, LLC:
Wavepoint Ventures, with offices in El Dorado Hills and Menlo Park, is a venture firm committed to accelerating the growth of innovative young technology companies through a combination of capital, thoughtful guidance, and a network of strategic relationships. The firm is led by professionals with a combined total of more than 40 years of professional venture capital investing experience and 30 years of operational experience. For more information about Wavepoint, go to http://www.wavepointventures.com.