Thursday, April 1, 2010

TechStars Seattle Backers Put $452,500 Into Effort

Mentors and backers of the TechStars Seattle incubation program are putting their money where their mouth is, and have put around $452,500 into the effort, according according to a regulatory filing by the group this week. According to the filing, $452,500 has been contributed by members to the Seattle effort so far, with around $810,000 expected. TechStars launched its efforts in Seattle in October, and just opened up applications for the program last week. TechStars offers mentoring and seed capital to early stage startups. It's unclear how the funds will be used, however, TechStars typically invests a small amount of money in each of the startups which qualify and participate in its program. The effort is Seattle is being headed up by Andy Sack.