In New York City, it often seems like everyone has an idea for the next “must-have” piece of technology or software. Many startups, however, fizzle and are forgotten—victims of the short attention span that often trails a lack of funds.
To help more of them make it to prime time, NYC SeedStart, a joint project of five venture capital operations, has helped five teams of entrepreneurs get money and advice from industry experts this summer. Each team, chosen from among 200 entrants earlier thi
s year, received $20,000 to help get its idea off the ground. In exchange, the organizing partners—Contour Venture Partners, IA Ventures, NYC Seed, RRE Ventures and Polaris Venture Partners—will share a 5% equity stake in each.
To read the full, original article click on this link: Venture capital funds nurture secret startups - Crain's New York Business
Author: Carl Gaines
