ATLANTA – Georgia Tech is launching a new four-month accelerator program twice a year to back 12 to 20 startups, according to the Atlanta Business Chronicle.
The program, to be announced at the ATDC Startup Showcase today, is aimed at helping fill the early-stage funding gap in the region.
Acclerators, from Silicon Valley’s Y Combinator and Boston’s TechStars to new ones such as TechStarts+ and LaunchBox Digital in NC,have had a fair amount of success in helping fledgling companies develop “fundable” businesses in a shorter time than they would likely take otherwise.
The Georgia Tech program is slated to accept applications May 17 and start its first class in August.
Graduates will eventually pitch their concept to venture capitalists on an investor’s day and will go on a deal trip to Northern California.
A new firm headed by Imlay President Sig Mosely, Flashpoint Investments, will back in selected startups from the program and the Georgia Tech Edison fund may also invest, the Chronicle reports.
Mosely told the Chronicle Flashpoint is hoping to raise a $300,000 to $500,000 fund.
ATDC’s Nina Sawchuk, Georgia Tech’s Merrick Furst, and others will manage the program.
Mosely is one more than 50 top Internet and Digital Media mavens participating in the Atlanta Digital Summit May 16-17 at Cobb Galleria.
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