Tuesday, November 8, 2011
Launchpad LA Adds Funding, Office Space For Startups
Los Angeles-based Launchpad LA, the business acceleration program headed up by Mark Suster of GRP Partners, said today that it has expanded the program, and added $50,000 in funding for startups in the program, plus actual physical office space. Launchpad LA started two years ago as mostly a mentoring effort to help support promising companies in Los Angeles, or who were interested in moving into the area; however, the program, unlike programs from Y-Combinator and TechStars, hadn't included any funding or office space. In a post on TechCrunch describing the updated program, Suster said that Rincon Ventures, Idealab, Baroda Ventures, GRP Partners, and Techstars' David Cohen and David Tisch, along with law firms DLA Piper and Stubbs Alderton, will be providing the funds for the program. The acceleration progrma has set up space in Santa Monica. Upstart.LA is one of a large number of accelerator programs trying to get off the ground in Los Angeles; Suster himself identified at least 6 others in the LA area.