New York City Gets a New Startup Incubator
While Silicon Valley startups have long enjoyed the benefits of the region’s history of entrepreneurial mentorship, with a number of seed programs and incubators focused on helping to the next big idea, New York City startups have historically had to go it alone.
But now, the Entrepreneurs Roundtable is looking to change that by launching a new startup incubator that will inject some funds into promising New York-based startups and provide guidance over a three-month period this summer. It’s the latest in a wave of start-up help for local entrepreneurs, who now have a number of options.
The Entrepreneurs Roundtable Accelerator program will run three months this summer, from June through August, and will conclude a demo day and investor pitch at the end. The 10 startups selected to participate in the program will each receive $25,000 and free, collaborative office space for the summer. In exchange, the program will get an 8-percent equity stake in participating startups.