Minnesota’s First Tech Accelerator has Arrived. GTK #29: Project Skyway

 

GTK #29 - Project Skyway (32 min)

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Project Skyway is Minnesota's first Technology AcceleratorLocal technology entrepreneurs now have a second major resource of late, when Minnesota’s first tech-oriented accelerator program begins accepting first round applications tomorrow.

Six months in the making, Project Skyway will choose up to 10 early-stage tech companies in SaaS & mobile to participate in a three-month long, mentor-driven startup acceleration based out of Minneapolis.

“Our emphasis is on building tech companies with long-term, sustainable value, ethical practices, mentorship, and strong networks,” Project Skyway founder Cem Erdem reiterates.

The program offers $6k in seed funding per founder (1-5), mentorship, co-working space (TBA), dedicated outsourced software development and connections-a-plenty.   In exchange for participating in the program, companies give 6 – 9% of founders stock.

“Almost any other accelerator program will bounce you if you don’t have a tech co-founder as part of your team,” says co founder Casey Allen, touching on a unique aspect. “Not Project Skyway. We are looking for applicants with the ability to execute over the ability to code the viable and fund-able prototype themselves.”  The accelerator will also accept sole founders.

The deadline to apply is midnight, May 1, 2011 — after which the top 25 applicants will then be invited to participate in the 2nd round weekend boot-camp being held June 10-12, 2011.  In late June, invitations will be sent out to finalists ready to start building August 1 through ‘demo day’ in October.

For more background and details, tune in to our Get to Know podcast with Cem Erdem and Casey Allen.

Comments

  • http://twitter.com/casey__allen Casey Allen

    Any questions entrepreneurs? Feel free to ask them here, I'll be sure to answer them as quickly and thoroughly as possible. Hope to see you all applying!

  • http://twitter.com/UniqueVisitor Jeff Pester

    Why is there no information and/or link regarding application details either here or on the Project Skyway web site??? I have so many questions about this I don't even know where to start.

    • http://twitter.com/casey__allen Casey Allen

      Hey Jeff: It's 11am and we just pulled the switch, everything's ready to rock now! Go on over to http://www.projectskyway.com, peruse around, and feel free to ask any questions about the program or process you'd like right here.

      • Luke Francl

        I really think you should be able to see the application form without creating an account. That's pretty irritating.

        • http://twitter.com/casey__allen Casey Allen

          @Luke Yeah, but then how can we send you daily deals? =)

          Point taken. We'll see if we can get a copy up that can be viewed without registration. The platform is not ours internally but I think I can make it happen. Any more feedback on the app process is welcome. This is very much our beta.

      • http://twitter.com/UniqueVisitor Jeff Pester

        Thanks for the offline update Casey – much appreciated. Good luck!

        • http://twitter.com/casey__allen Casey Allen

          Our community is lucky to have you still championing our cause, Jeff! Many, many thanks. Look forward to giving you the official tour of the space later this summer!

  • Themakermonk

    So this is TECHdotMN and you have to use developers in India?

    • http://twitter.com/casey__allen Casey Allen

      I'm cofounder of Project Skyway. The above podcast interview was done by TECHdotMN on Project Skyway but the TECHdotMN site otherwise has nothing to do with the program (or it's developers in India). You can find more info over at http://www.projectskyway.com or email me directly at casey.allen@.

  • http://twitter.com/derekanderson Derek Anderson

    $6k is nothing, outsourced development is not 'ethical', 6-9% is to much.

  • Brightminds

    6K is barely enough for building fully functional website, let alone all other basic expenses. 6-9% is too much, just for services.Note that if they help connect with an investment,then that's another chunk of equity going out.
    Do the math.

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