BoomStartup, a mentorship-driven investment program that helps entrepreneurs build a viable and successful business, has selected eight startup companies to participate in 2012. The companies selected will be moving into Salt Lake Community College’s Miller Business Innovation Center (MBIC) in Sandy.
The 2012 cohort marks BoomStartup’s third class of participating companies. Each company will receive $20,000 in seed capital and $80,000 of in-kind services including mentoring from expert business advisors, office space and resources at the MBIC, merchant processing services, attorney visits and more. In total, BoomStartup will be investing between $800,000 and one million dollars in this year’s class to help entrepreneurs grow their small or medium sized business ventures.
BoomStartup has been recognized on a national level by the Kauffman’s Fellow Program as one of the top 15 accelerator programs in the nation. The recognition is based on BoomStartup’s successful outcomes and program characteristics including; the percentage of participating companies that get funded, the rate of success among graduates, and the amount of money startups receive.
“We have graduated 20 companies from our program and of those 60% have been funded, whereas, the average rate of startup companies being funded is only3%,” said Rob Kunz, co-founder of Boomstartup. “That’s a pretty dramatic increase.”
The eight companies moving into the MBIC include:
- Akomplish: Online productivity software that allows users to manage contacts,tasks, and calendars for their personal lives, groups, and companies.
- Blue Roof 360: Provides real estate brokers with online tools to help agents makeeffective use of the Internet to grow business.
- CityGro: Allows businesses real-time access to customers thru special offers. The company already serves 1,500 businesses and connects with more than 20,000 consumers.
- CitySpark: Provides an online portal for users to search and find local events, family activities, professional conferences and outdoor adventures.
- Match Mate Inc.: A more personal matchmaking service distributed through web, mobile and social media where users can be “matchmakers,” to bring people they know together.
- Referral IM: Simplifies and automates the practice of providing professional referrals.
- Text Me Tix: Gives users access to last-minute ticket deals thru various ticketvendors.
- XoomPark: Offers online guaranteed parking reservations for large, downtown events within walking distance of multiple venues such as sports arenas, theaters and restaurants.
The Miller Business Innovation Center (MBIC) is an accelerator program for innovative enterprises seeking high growth and is the largest publicly funded business incubator in Utah. The MBIC attracts a broad scope of entrepreneurs in industry sectorssuch as; publishing, franchising, software development, clean energy, medical devices and more. For more information visit: http://www.mbrcslcc.com/mbic or call 801-957-5284.