Got a Hot Idea? Upstart Incubator Wants You | WIRED
Summary
I/O Ventures, one of the newest of the new breed of start-up incubators, is opening its application window for its second class – after a successful first round that saw its six fledgling companies all get funded or acquired. YCombinators list of alumnae include DropBox, Heroku, Reddit, and Scribd, and getting chosen is considered akin to getting a golden ticket to Willie Wonkas candy factory. I/O Ventures was founded in 2010 by four entrepreneurs, including founders of MySpace, BitTorrent, Lefora and HotorNot.com, ensconces its portfolio companies in its hip digs in San Franciscos Mission District, providing mentorship and office space, in return for a small percentage of equity. One I/O venture company, Damn the Radio, helps musical artists grow their fanbase inside Facebook, has already been acquired by Fanbridge. Thats true even in the current climate where theres a huge interest and lots of competition to invest in Silicon Valley startups, following the stunning valuations for companies like Twitter, Groupon and Facebook.