Boomtown to mentor marketing startups
Last Updated: 08:58 January 31, 2014
While most established accelerators like TechStars are broader in scope, Boomtown's co-founders felt there was an opportunity to specialize.
"For companies that can really benefit from the kind of mentorship we can do, we think we can specialize and attract more interesting projects and teams than we could otherwise," Bogusky said Thursday.
The accelerator will average two 12-week sessions per year of about 10 startups each. Participants will receive $20,000 in seed money and $40,000 in professional services, as well as access to $700,000 worth of other perks like free Microsoft products and discounts on Amazon web services through Boomtown partners.
Boomtown, meanwhile, will receive a 6 percent equity stake in each company.
Atlanta-based Farmore Capital Group is Boomtown's lead investor.
In addition to Bogusky, founders include Toby Krout, who has been a part of six tech startups and is co-founder of Boulder-based marketing firm Atomic20; Jose Veitez, an entrepreneur ad interface designer with experience at Google; and Stephen Groth, founder of experiential marketing network Radiate Group.
Krout and Veitez will serve as co-directors of Boomtown. The accelerator will employ a program manager and about 10 interns, Krout said. That's in addition to the large stable of tech and marketing mentors slated to work with the program.
Krout said Boomtown has a unique opportunity having Bogusky onboard with his connections in the advertising industry and marketing in general.
"We're going to maximize that as much as possible," Krout said. "We feel pretty uniquely positioned to take advantage of the nexus between tech and traditional advertising and marketing."
Boomtown's first session will begin March 17 and end in mid-June, with a to-be-determined demo/pitch event. Applications are due Feb. 20 and can be filled out at www.boomtownboulder.com. Bogusky said a handful of applications, including one from Ireland, began coming in last week after Boomtown did a soft launch of its website.
"Somehow people started applying on the site before we even started talking about it," Bogusky said.
Boomtown will be headquartered in about 5,000 square feet of office space at 2060 Broadway in downtown Boulder. But Krout said Boomtown also has partnerships to use certain facilities at the University of Colorado as well as other locations around town.
"We also want to get people out of the office and into the Boulder ecosystem," Krout said.
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