Updated August 3 at 8:22am

Enter your email to receive Providence Business News' e-newsletters
and breaking news alerts.  

entrepreneurship

Betaspring holds open house, introduces new participants

Posted:

PROVIDENCE – Startup incubator Betaspring celebrated its latest class and its new home Thursday evening with an open house event that drew more than 300 people. In addition to the 16 new teams – which started in Betaspring’s 12-week program on Feb. 6 – the event attracted Providence Mayor Angel Taveras, General Treasurer Gina M. Raimondo and R.I. Economic Development Corporation Executive Director Keith W. Stokes.

The move into the newly rehabilitated space on the third floor of the Russell Irons building at 95 Chestnut St. in the city’s Knowledge District allows Betaspring to take on more than double the number of companies in its accelerator program, as well as offer office space for 10 weeks after participants have completed the program. Teams that choose to remain in Providence for 12 months after completing the program are eligible for a $50,000 equity investment from the city of Providence.

In its three years, the Betaspring mentoring and entrepreneurship program has launched 28 companies and supported almost 100 entrepreneurs. Graduates of the program have created more than 50 full-time jobs and raised more than $10 million in funding.

Teams from across the country – and one from Tel Aviv - are participating in the spring session (there will be one that starts in the fall as well), with the goal that participating teams will become a fundable and viable company by the end of the 12 weeks.

The new class consists of 16 teams with 41 founders and employees, including:

  • AgileQR, software developer to help political leaders connect with constituents

  • Autoshag, a service that allows consumers to buy cars at dealer auctions for savings off retail

  • Care Thread, developer of a health care real-time communications platform

  • GBooking, an online tool for search, comparison and booking of service providers

  • JumpOffCampus, a service that improves off-campus housing functions from all perspectives

  • Kay McGowan: A Curated World, an online retailer of goods from international destinations

  • LessonWriter, a tool that uses media content to create classroom lesson plans

  • Moveable Code, a developer of mobile products for play

  • Prepmatic, creator of standardized test preparation tools

  • RecoVend, an online service to improve and lower costs of university purchasing

  • Socialping, developer of real-time Twitter analytics among other tools for business

  • Splitwise, a tool to help groups, down to roommates, calculate cost-sharing arrangements

  • Sproutel, creator of interactive toys to help children deal with chronic illness

  • Thryve, tool to help people better track their diet and well-being

  • Thumbs Up, a platform to let viewers rate and see how others rate television programs in real time

  • TwoBolt, creators of a tool that lets businesses create and manage marketing campaigns

betaspring, open house, entrepreneurs, agileqr, autoshag, care thread, gbooking, jumpoffcampus, kay mcgowan: a curated world, lessonwriter, moveable code, prepmatic, recovend, socialping, splitwise, sproutel, thryve, thumbs up, twobolt

Comments

2 comments on this story | Please log in to comment by clicking here
Please log in or register to add your comment
PaladinID

What an exciting night for the businesses of Providence. Betaspring did a great job in putting this together. I was so glad to be a part of it and share in your excitement. Can't wait for the next one. D. Ritchie

Friday, March 9, 2012 | Report this
danshedd

This is the sort of thing giving Providence a good name! It would be money well spent for the state to support incubator/accelerators in the medical and other fields. The process that is being further developed and refined by the team at BetaSpring is a template those that follow would do well to draw from. Real model breaking innovation happening here right in the heartland of the industrial revolution. Dare to be different and find new solutions that are often counter intuitive is where many of these entrepreneurs are finding opportunity. A great night for both the presenters and the presented.

Monday, March 12, 2012 | Report this
Latest News