Plug and Play San Diego Selects Five Companies for Startup Camp
It was standing room only as Plug and Play San Diego selected five seed-stage tech companies to participate in its startup accelerator program, following presentations by 17 finalists yesterday at the Co-Merge shared workspace in downtown San Diego.
The afternoon session represented Plug and Play’s third draft of companies in a San Diego-based selection process that attracted a record 92 entries, including startups from Denver, CO, and Tijuana, Mexico. Organizers said the size and diversity of the field was encouraging, and reflects a noticeable increase in early stage startup activity among tech companies in San Diego. About 75 startup founders and supporters filled the conference room to watch the presentations.
“We’re not in diapers anymore,” said Robert Reyes, who leads Startup Circle in San Diego and helped establish the Plug and Play’s Startup Camp program here. “We’re getting great feedback on the quality of the companies that we’re getting. The Plug and Play people are saying it’s just ten times better.”
A year ago, when the San Diego satellite program selected its first group of local startups, “We didn’t have a point of reference, and now we do,” investor Alex Roudi said.
— Steven Cox (@steven_cox) May 6, 2014
BrightScope CEO Mike Alfred, who was among the judges who listened to the three-minute presentations, said the number and diversity of companies applying for Plug and Play San Diego was the best he’s seen out of four similar events he’s attended in San Diego. “This group of companies that presented here today are by far the strongest, and the quality of companies is better,” Alfred said. “I think a big part of it is that there is real money behind [the program].”
In exchange for a small equity stake in their companies, the Sunnyvale, CA-based Plug and Play Tech Center provides $25,000 in financing for companies that enroll in the accelerator. Companies begin the … Next Page »