By Lindsay Lorenz
PBN Staff Writer
PROVIDENCE – Betaspring’s newest group of fledgling companies has reached the halfway point of the startup accelerator’s sixth session. During an open house Thursday, company founders shared just how far they’ve come in six weeks by each delivering a quick pitch.
In a room filled with hundreds of supporters, investors and Betaspring alumni, representatives from each startup took to the stage to tell the crowd in 45 seconds what they do and who they are looking to meet.
Entrepreneurs described technological services they’re hoping to launch that range from online rent collection services to gaming platforms for lottery operators to mobile apps for sportsfans and more.
Allan Tear, a founder and managing partner of Betaspring, said during opening remarks that Betaspring has created a hub for creativity and entrepreneurship with a far reach.
“We realized that when we started Betaspring, it really wasn’t about putting our arms around what we had in Rhode Island and holding it tight and hoping that nothing escaped, but that it was really about using our unique position here in New England and the incredible connections that exist here to create better entrepreneurial flow,” Tear told the audience. “That’s what’s working here, that’s what you’re a part of, and that’s what you contribute to as a community. So we thank you so much for that, because when that happens, great things occur.”
Since the session kicked off in February, the 15 startup companies have been immersed in a program that includes meetings with mentors, developing and refining their products, and testing their delivery and business models, all in hopes that they will be ready to find investors and get their businesses off the ground in another six weeks.
Through previous sessions, Betaspring has accelerated 72 companies and raised $25 million and counting in follow-on funding.
At the conclusion of the pitches, conversation became lively, as company founders networked while enjoying local beer, wine and catered snacks.