Initially slated to close last month, the move suggests a more patient approach based off learning experiences from the first class, which ran from August through October of last year.
“We’re going downstream to earlier stage companies this time,” Allen explained. “…we have a more precise idea of what kind of companies we’re looking for. And in the quest for that that, we’re extending the opportunity to ensure the best fit and right culture,” Allen said.
Project Skyway is modeled after the global ‘incubation’ trend of providing emerging entrepreneurs with the cash, mentorship, and visibility necessary to expedite the process of bringing new products to market. Startups that participate currently receive $6,000 per founder (max $18,000) in exchange for 9% equity.
Companies can now apply through 11:59pm on February 13th; the new class will be commencing on March 1st and running through May 31st before a demo day finale in late May.