4 ms·
We will give up to 10 teams a small amount of funding, space, and mentorship in exchange for a small piece of equity in whatever they build. I thought the cash
by aditya 18y ago
We will give up to 10 teams a small amount of funding, space, and mentorship in exchange for a small piece of equity in whatever they build.
I thought the cash was a little low, I mean, this is NYC, after all?
They are providing space (working space, that is, not an apt, I think), though, which makes it a little better - but I like YC's 5k*n idea a lot more.
- vaksel 18y agoThey aren't even in Manhattan, they are based in Brooklyn. I dunno that kind takes a hit on their legitimacy to me.
- aditya 18y agoThey've been around a while, and are state-funded ($2MM fund, I believe) but they've only invested in 3 companies so far... I'm pretty sure there's a lot of people applying so I'm guessing they're being really selective/non-risky (which is usually the case with east coast tech investors compared to west coast ones). Here's more: http://blog.nextny.org/2008/09/03/nyc-seed-seed-funding-for-ny-technology-companies/ http://blog.nextny.org/2008/09/03/nyc-seed-seed-funding-for-... http://www.nyconvergence.com/2008/06/mayor-bloomberg.html http://www.nyconvergence.com/2008/06/mayor-bloomberg.html
- dcurtis 18y agoWhat is wrong with Brooklyn? If you start your company in Manhattan, you're just needlessly increasing your burn rate and reducing the amount of time you have.
- deleted 18y ago[deleted]
- banned_man 18y agoThe people who think this way are the ones that the rest of us are hoping the recession will push out of New York.