Thursday, March 18, 2010

Launchpad LA Opens Apps For Second Class

Launchpad LA, the business incubation and mentoring effort started by GRP's Mark Suster, said today that it has opened up applications for its second class of companies. The effort--which pulls together a number of venture capitalists and successful entrepreneurs, who closely mentor startup founders--said it is looking for 10 companies to participate in its second year class. The effort's mentors include Mike Jones, Keith Richman, and Adam Bain. Launchpad is open to companies who have raised less than $1M, haven't yet raised institutional venture cpaital, and are located in or are willing to relocate to Los Angeles. Prior firms in the program are MobileRoadie, TechForward, Sometrics, and GumGum. LaunchpadLA said that of last year's thirteen firms, eleven received venture funding; one was acquired (FlipGloss), and the last is profitable and self-funded.

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