by Denny O’Malley
Recently, Inc.com published an article about the best cities for early-stage companies. The premise: Chicago is the surprise winner.
Why would that be? San Francisco and New York are both beautiful, thriving cities that dramatically represent the diversity of American ideas. San Fran—younger, more venture-oriented, with beautiful natural vistas. New York—the classic, bustling private and public equity concrete jungle.
What do they have in common? It costs a kidney to pay rent for a closet. Continue reading
Filed under angel, angel investor, Characters, Entrepreneur, Entrepreneurship, High Tech, Low Tech, mobile, mobile internet, Startup Companies, Startups, The Economy, vc, venture capital
Adapted from the Journal of the Heartland Angels
By Michael Gardiner
Chicago’s startup scene has grown dramatically in recent years. That includes a rapid increase in local accelerators, incubators, tech parks, and similar programs.
The term accelerator is used somewhat loosely, but the prototypical accelerator involves cohorts of between 10 and 20 startups that spend three to four months in a common physical location. Accelerators are sponsoring organizations that provide startups with a combination of small cash investments, intense mentoring, formal and informal networking opportunities, and organized investor pitch events—all designed to dramatically “accelerate” a startup’s development. Typically, graduating companies immediately seek a significant angel investment or venture “A” round funding. Continue reading