A La TechStars & YC, City Of Providence Offers Startups $50K To Complete Local Accelerator Program

Back in January, Yuri Milner and SV Angel partnered to offer every startup that was part of Y Combinator's winter batch (some 40 startups) $150K each in convertible debt. In September, national startup accelerator, TechStars, followed suit, upping its investment in each startup to $100K in convertible notes. Providence, Rhode Island may not be the first city that pops into your head when you think of burgeoning startup ecosystems, but it looks like the city and one of its prominent young incubators is looking to change that. This week, Betaspring, the Providence-headquartered startup accelerator, announced that all startups that complete its 12-week accelerator program will be automatically eligible for a $50K equity investment from Rhode Island's capital city.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/e4QFSC8z9RM/

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