4 ms·

DreamIt Ventures Joins Y Combinator, TechStars in Pre-Seed Funding Space

10 points by jmorin007 18y ago

neilc 18y ago
The "innovators" accepted by DreamIt then have the option of teaming up with the accepted "strategists" to help out with the business side of the fledgling company. That's an interesting idea. I think that quite a few hackers could use a non-technical cofounder (provided the person is very good at their job), especially in markets like enterprise software or financial services. I'm not necessarily sure this is the best way to pair up technical and non-technical founders, but I'll be curious to see whether the program is successful.
- aneesh 18y ago
  It's up to the startup how much they involve the "strategist", but from what I've heard from two groups in the program, this is definitely a helpful resource. DreamIt seems to have created a good atmosphere among the companies it has funded, with the major downside that it's in Philadelphia of all places (but that was the point of starting it I guess).
  - timae 18y ago
    Downside for some is the major upside for others. I live in Philly, so this is good news to me! We've got first round capital out here.. and ben franklin partners. I'm glad to add another source for early idea funding to the mix.
danielrhodes 18y ago
Looks like they are funding blogs: http://www.beanstockd.com/ http://www.beanstockd.com/ That's weird because blogs don't often make exits, so there's very little chance that DreamIt would be able to make money off that investment.
- thorax 18y ago
  Well, to be fair, non-blog businesses don't often make exits either. There have been a more interesting blog "exits" lately than I would have expected, so it's harder to write them off for trying.
  - sanders 18y ago
    In response to Daniel- DreamIt Ventures funded the web application that Beanstockd is currently building not the blog
tapinko 18y ago
Philadelphia is a wonderful location to be these days... and DreamIt has been an amazing experience. -Pete Groverman TapInko.com
jasonlbaptiste 18y ago
one of my great buddies + someone who worked with me at my first startup is a part of dreamit ventures. great program with great people. the mini office space they have setup is really nice too. The companies theyve funded are also quite interesting.
snprbob86 18y ago
They gave a presentation at Drexel which prompted my friend and I to apply. It was the same startup that we applied to YC with and were interviewed for. DreamIt never replied to us; not even a form letter. How hard could it possibly be to send out a "no thanks" email?
- snprbob86 18y ago
  Mike from DreamIt followed up on this comment with me by email. He said that everyone in their database should have received a personalized message along with a form letter, but neither my partner and I nor Mike has either. He sent us a copy of the form response that was to precede the personal response. I appreciate the gesture in following up, so I am going to give them the benefit of the doubt and say it got lost in Gmail's spam filter. Sorry Mike and the rest of the DreamIt team.

10 points by jmorin007 18y ago

neilc 18y ago

The "innovators" accepted by DreamIt then have the option of teaming up with the accepted "strategists" to help out with the business side of the fledgling company. That's an interesting idea. I think that quite a few hackers could use a non-technical cofounder (provided the person is very good at their job), especially in markets like enterprise software or financial services. I'm not necessarily sure this is the best way to pair up technical and non-technical founders, but I'll be curious to see whether the program is successful.

aneesh 18y ago
It's up to the startup how much they involve the "strategist", but from what I've heard from two groups in the program, this is definitely a helpful resource. DreamIt seems to have created a good atmosphere among the companies it has funded, with the major downside that it's in Philadelphia of all places (but that was the point of starting it I guess).
- timae 18y ago
  Downside for some is the major upside for others. I live in Philly, so this is good news to me! We've got first round capital out here.. and ben franklin partners. I'm glad to add another source for early idea funding to the mix.

danielrhodes 18y ago

Looks like they are funding blogs: http://www.beanstockd.com/ http://www.beanstockd.com/ That's weird because blogs don't often make exits, so there's very little chance that DreamIt would be able to make money off that investment.

thorax 18y ago
Well, to be fair, non-blog businesses don't often make exits either. There have been a more interesting blog "exits" lately than I would have expected, so it's harder to write them off for trying.
- sanders 18y ago
  In response to Daniel- DreamIt Ventures funded the web application that Beanstockd is currently building not the blog

tapinko 18y ago

Philadelphia is a wonderful location to be these days... and DreamIt has been an amazing experience. -Pete Groverman TapInko.com

jasonlbaptiste 18y ago

one of my great buddies + someone who worked with me at my first startup is a part of dreamit ventures. great program with great people. the mini office space they have setup is really nice too. The companies theyve funded are also quite interesting.

snprbob86 18y ago

They gave a presentation at Drexel which prompted my friend and I to apply. It was the same startup that we applied to YC with and were interviewed for. DreamIt never replied to us; not even a form letter. How hard could it possibly be to send out a "no thanks" email?

snprbob86 18y ago
Mike from DreamIt followed up on this comment with me by email. He said that everyone in their database should have received a personalized message along with a form letter, but neither my partner and I nor Mike has either. He sent us a copy of the form response that was to precede the personal response. I appreciate the gesture in following up, so I am going to give them the benefit of the doubt and say it got lost in Gmail's spam filter. Sorry Mike and the rest of the DreamIt team.