Education-focused startup accelerator Startl today announced with pre-seed investor DreamIt Ventures that they’re ready to receive applications for a three-month residency in the New York-based program. This is the second year of the Startl Accelerator Program. Here’s what happens to successful applicants:
The invitation will include a stipend of $5,000 plus $5,000 per founding team member (up to four, for a maximum of $25,000) and in return, we will take a 6% equity stake in your company.
Of the four companies that graduated the program last year, two went on to secure outside funding. Here’s more about the program:
Accepted applicants are integrated into the regular Summer 2011 DreamIt program and offered the opportunity to learn from and be mentored by recognized experts in marketing, business development, financial modeling, business models, brand building, distribution and customer acquisition, with a special emphasis on the education technology industry. The outcome of the experience is a pitch day where each team has the opportunity to present to a room full of potential investors.
Union Square Ventures’ Fred Wilson likewise offered his take on the program: “I’m excited that Startl and DreamIt will be running their Accelerator Program in NYC this summer. There’s a lot of startup activity in NYC these days, but not enough–never enough–to support the kind of high-growth entrepreneurship this city needs.”
For more information and to apply, check out the Startl website.
mtaylor [at] observer.com | @mbrookstaylor