Providence catches startup fever

PROVIDENCE WAS LISTED as of one of seven U.S. cities to have caught
PROVIDENCE WAS LISTED as of one of seven U.S. cities to have caught "startup fever" by Details in its February 2011 issue. /

PROVIDENCE – Providence is one of seven U.S. cities highlighted in the February 2011 issue of Details for catching “startup fever.”

Details, a magazine for the “modern man,” also highlighted Portland, Ore., Boulder, Colo., Omaha, Neb., New Orleans, Chicago, and Brooklyn, N.Y.

Prominent local leader Jack Templin, principal of Internet consulting firm ThoughtCap LLC, stole the spotlight in the magazine’s write up on Providence.

“In 2005, Jack Templin, a thirtysomething survivor of the 2000 Internet bubble burst, moved from Manhattan to Providence. Tech companies had begun to emerge in the town — with a little help from Rhode Island School of Design’s graphic-design program and Brown’s computer-science department — but the movement lacked organization,” it said.
“Templin cofounded Providence Geeks, which holds monthly dinners featuring a presentation from a local startup. He also helped the state create RI Nexus, which connects Providence’s entrepreneurial community. Templin, [Owen Johnson and Allan Tear] went on to launch Betaspring, a 90-day boot camp that puts young companies on a path to receiving venture funding. Some of the projects coming out of Betaspring include Manpacks, a subscription service for men’s underwear, socks, and other essentials.”
Portland caught Details’ eye as the chosen spot for Nike and Columbia Sportswear’s headquarters, 600 footwear and apparel companies and more than 2,500 one and two-person activewear firms.
Boulder was highlighted for having “unusually rich” talent pool and nearly 200 tech firms based there; 11 of its tech start-ups raised $57 million in venture capital in the first three months of 2010.
Entrepreneurialism is surging in Omaha, where pockets of angel investors and startups such as eCreamery are beginning to come out of the woodwork. “It’s hard to put your finger on why we’re seeing all of this,” says Mark Hasebroock, the head of Dundee Venture Capital, to Details.
New Orleans is a growing hot spot for digital media and software development. Aggressive tax incentives have made Louisiana the third-biggest film-production state in the country, behind California and New York, the magazine said.
Between Groupon, Threadless, crowdSPRING and Give Forward, it’s not surprising Chicago made it onto the list, while Brooklyn earned a spot thanks to alcohol. Since April 2010, three micro-distilleries producing gin, bourbon, rye and corn mash opened in the New York City borough and could have the third-largest concentration of distilleries in the United States by summer 2011, Details said.

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