The Windy City is famous for one big giant startup Groupon, but the folks at Chicago’s newest incubator, Catapult, believe there will be many more, and — for a short while at least — it hopes to play host to the next big Web sensations from the Midwest. Catapult only opened its doors in March, but on Tuesday it welcomed a wave of seven new startups in residence.
Catapult doesn’t bill itself as an incubator. Rather it calls itself a collaborative community, and it definitely gives off commune-type vibe. It’s a not-for-profit entity that rents 12,000 square feet of building space in Chicago’s downtown River North neighborhood. The incubator is investor agnostic, and new startup residents are selected democratically. The founders of current Catapult companies vote on whom to accept and whom to deny.
