By PBN Staff
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: