SEATTLE — Some of the most promising, up-and-coming tech talent in the country gathered in a SODO warehouse on Friday hoping to attract investors. The 14 companies were chosen out of a pool of more than 500 to be part of a business "boot camp” sponsored by Microsoft. After four months of living and learning in Seattle, many of the companies have decided to stay.
Microsoft is fostering the fledgling companies through its Ventures Accelerator program. Friday was the final day of the process in which Microsoft helped the companies “bring their ideas to market by providing mentorship, technology, access to capital and niche expertise,” according to the program blog.
Eyal Amir is the co-founding CEO of Parknav. The app to help users find a parking space is now available in Seattle, but the company is based in Chicago. After working and learning in the Pacific Northwest since March, Amir will be moving a portion of his operation to Seattle because he experienced “a lot of traction in a short amount of time, a lot of interest and great connections,” he told KIRO 7.
Mukund Mohan is director of Microsoft Ventures. Of the 14 start-ups chosen for the Seattle program, Mohan said five have plans to relocate here for primarily three reasons: the tech talent pool is very deep, seed money to help the companies grow is plentiful, and “the third thing that they all come for is a list of customers here locally that can help them, give them advice and adopt their products,” Mohan explained. “People like Nordstrom, people like Starbucks, people like Costco, Microsoft and Amazon are here” ready and eager to adopt new technology.
Tammy Bowers is the CEO of LionHeart, a Salt Lake City-based company that provides a mobile medical platform for caregiver coordination. She isn’t planning to move her business from Utah yet, but will consider it if she can get financial backing that will offset the much higher cost of living in Seattle. “It depends what happens” during Friday’s Demo Day, when Bowers and the other companies pitched their ideas. Some of the Northwest-based medical and pharmaceutical companies Bowers has built relationships with over the past few months have expressed interest in partnering with LionHeart, Bowers said., adding, “It would mean a relocation so that we could work more closely with them, but we would be willing to do that.”
For more information: https://www.microsoftventures.com/blog/entry/DeconstructingtheAcceleratorMeettheStartupsAcceptedintoSeattlesSecondCohort%7C1105
KIRO
