Betaspring recognized as top accelerator

(Updated 12:22 p.m.) PROVIDENCE – Startup accelerator Betaspring has been recognized as a top accelerator in the country by the Seed Accelerator Rankings Project and also was highlighted in Inc. magazine’s field guide to accelerators as one of the top eight in the nation.
Betaspring, which runs a full immersion 13-week program two times a year for technology and design entrepreneurs, has launched 90 companies since its inception in 2009, according to its website.
The Seed Accelerator Project, in its fourth year, ranked Betaspring 19th on the list. To determine its top 20 accelerators, the project interviewed venture capitalists, angel investors and accelerator program directors; it also considered entrepreneurial success and surveyed entrepreneurs who graduated from the programs, asking them if they would repeat it knowing what they know about the experience. It invited 150 programs to participate in the rankings.
The Seed Accelerator Rankings can be found HERE.
In the Inc. magazine piece, featured in its March issue, Betaspring is included as one of the top eight accelerators in the country, which considered new and established accelerators. Inc. said 72 percent of Betaspring’s startups are still operating, and 28 percent closed.
It states that Betaspring is one of the first accelerators, and has full-time partners working with companies instead of investors who get involved periodically, and also focuses on a wide range of industries, noting that its portfolio includes polymer chemistry (NuLabel Technologies), expense sharing (Splitwise) and subscription services (Surprise Ride).
Betaspring takes 6 percent of common stock in companies that participate in the program, and will provide up to $20,000 in seed capital as well as free legal counsel, incorporation filing and other legal work necessary to complete a business model.
Melissa Withers, chief of staff for Betaspring, said Betaspring is proud of what it and its companies have accomplished.
“It’s great to see many of these companies growing in Rhode Island – NuLabel, Splitwise, HealthID Profile, Spoutel, Carethread – and it’s a pleasure to be a part of their success. I would be terribly remiss not to thank our mentors and advisors, who play an integral role in helping our portfolio thrive,” she wrote in an email.

“When Betaspring began in 2009 there were fewer than 10 accelerators in the world. Today, there are more than a 1,000. The industry is changing lightening fast, creating fantastic opportunities for innovation. We are thrilled to be working with our partners to pioneer the next generation of startup support, both here in Rhode Island and across the globe.”

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