Mark Wachen to Head DreamIt's New York Outpost

Philadelphia-based accelerator DreamIt Ventures has selected entrepreneur Mark Wachen to helm its New York City branch.

Mr. Wachen is a New Yorker who made his name as an entrepreneur by selling startup Optimost for $5 million and making early investments in Upstage Ventures, according to The Times. Here’s his take on the current state of the New York startup space:

For his part, Wachen said he’s excited to see the New York startup scene finally taking off, something he attributes to the fact that there’s finally a big pool of startup capital and technical talent. That’s why efforts like DreamIt are crucial to building that momentum.

“It seems like the reality has caught up with the hype,” he said.

Applications for DreamIt’s 2011 New York sessions are due March 16, and the program runs from May 16 to August 19.

mtaylor [at] | @mbrookstaylor Mark Wachen to Head DreamIt's New York Outpost