Friday, January 4, 2013
LaunchpadLA Opens Spring Applications, Bumps Investment Dollars
Santa Monica-based startup accelerator LaunchpadLA has just opened up its spring 2013 class applications, and bumped the amount it invests in startups. The accelerator--run by Sam Teller--is one of a crop of startup accelerators which have been the driving force behind the Silicon Beach startup community over the last year. As part of the new class, the group said it is now offering up $100,000 in investments along with free office space for four months, as well as connections to mentors, investors, and advisors. The amount invested per startup is double what LaunchpadLA was previously offering to startups in the program. Those amounts have been part of an "accelerator arms race" occurring in the Los Angeles area, as multiple, well-qualified accelerators have been competing to pick off the best crop of new startups from entrepreneurs. LaunchpadLA said that applications to the program are open until February 3rd.