Three startups affiliated with NYU have been selected as part of the spring 2013 class of TechStars NYC—a popular accelerator that provides mentoring and financing for entrepreneurs.
The three companies were among 11 selected from nearly 1,700 applicants for the New York program in a very vigorous competition.
TechStars, which is backed by more than 75 venture capital firms and angel investors, provides startups with an intensive three-month training program to help entrepreneurs turn their ideas into viable commercial ventures.
Each startup receives working space; $118,000 in financing; access to successful entrepreneurs and investors; legal, banking and hosting services; and a chance to pitch their idea to hundreds of potential investors at the end of the program. In return, TechStars receives a 6% equity investment in participating startups.
The NYU-affiliated startups in the 2013 spring TechStars class are:
Dash Labs: founded by NYU Stern adjunct professor Jamyn Edis, is an app that plugs into a car and feeds vehicle performance information to a phone in real time.
Weespring: co-founded by NYU Stern MBA candidate Jack Downey, is a social networking website for parents with newborns to share advice and information on babies and parenting.
Validation Board: co-founded by NYU alum Trevor Owens, is a website to help startups and new companies road test their ideas.